| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 74th | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2120 N Davidson St, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 2003 |
| Units | 64 |
| Transaction Date | 2002-01-16 |
| Transaction Price | $140,000 |
| Buyer | ST PETERS HOMES INC |
| Seller | NODA PROPERTIES LLC |
2120 N Davidson St Charlotte Multifamily Investment
Positioned in Charlotte’s inner-suburban fabric, this 90-unit, 2003-vintage asset benefits from a large renter base nearby and proximity to major employment nodes, according to WDSuite’s CRE market data. Neighborhood metrics point to steady renter demand with room for value-add execution over a multi-year hold.
Livability drivers in the immediate neighborhood skew toward daily needs and dining access. Grocery density ranks among the strongest in the metro (high national percentile), and restaurants are well represented relative to many areas of Charlotte. In contrast, parks, pharmacies, cafes, and childcare options are thinner locally, which may shape tenant profiles more toward young professionals and smaller households rather than family-oriented renters.
The property’s 2003 construction is newer than the neighborhood’s average 1975 vintage. For investors, that typically means a more competitive starting point versus older stock while still warranting capital planning for systems now two decades old and potential interior refresh to support rent positioning.
Neighborhood housing data indicate an occupancy rate around 89.5% (measured for the neighborhood), with a modest uptick over the last five years. Within a 3-mile radius, demographics show a growing renter pool: households expanded at a fast clip, and renter-occupied share sits near 62.5%. This broader catchment suggests depth of tenant demand that can support lease-up and renewal performance.
Income and housing cost benchmarks point to sustained multifamily reliance. Median home values in the neighborhood are elevated versus many U.S. areas, and the value-to-income ratio is on the higher side for ownership. That context, paired with a rent-to-income ratio near 0.15 at the neighborhood level, supports the case for stable apartment demand and measured pricing power rather than frequent turnover.
School ratings in the neighborhood trend below national averages, which may temper appeal for some family renters but is consistent with a submarket that already shows smaller household sizes and a strong young-adult cohort within 3 miles. On balance, local amenities, employment access, and renter concentration are the primary demand anchors.
Safety indicators are mixed when viewed through metro and national lenses. The neighborhood’s crime rank sits toward the higher-crime side within Charlotte (215th among 709 metro neighborhoods, where lower ranks indicate more crime), while nationally it trends around the middle of the pack overall. Property-related incidents benchmark below national safety norms, but the latest year shows a meaningful improvement trend.
Violent offense measures are below the national safety median yet have improved sharply year over year, placing the area among stronger improvers nationwide. For investors, the takeaway is to underwrite with realistic assumptions, monitor submarket trend lines, and align security and property management practices with resident expectations.
Proximity to Uptown anchors a diversified employment base that supports renter demand and commute convenience, notably in banking, energy, technology, automotive retail, and steel. The following nearby employers are most relevant to leasing and retention potential:
- Bank of America Corp. — banking (1.7 miles) — HQ
- Duke Energy — energy utility (2.1 miles) — HQ
- Cisco Systems — technology (3.1 miles)
- Sonic Automotive — automotive retail (4.4 miles) — HQ
- Nucor — steel (5.6 miles) — HQ
This 2003-vintage, 90-unit community sits in an inner-suburban Charlotte location with strong everyday amenities and concentrated employment access. Compared with the neighborhood’s older housing stock, the asset should compete well on curb appeal and functionality, while acknowledging that systems are entering mid-life and interior updates may unlock further rent positioning. Within a 3-mile radius, population and household growth—alongside a renter-occupied share near 62.5%—point to a large tenant base that can support occupancy stability and renewals.
Neighborhood metrics show elevated home values and ownership costs, reinforcing reliance on multifamily housing, while the neighborhood rent-to-income ratio near 0.15 indicates room for disciplined pricing. Safety indicators are mixed but trending better year over year. Leasing fundamentals are further supported by proximity to major employers and a strong grocery-and-dining amenity mix, according to commercial real estate analysis from WDSuite.
- Newer-than-area vintage (2003) offers competitive positioning versus 1970s neighborhood stock, with value-add potential through selective renovations
- Deep renter base within 3 miles and household growth support leasing and renewal performance
- Elevated local home values sustain multifamily reliance and measured pricing power
- Employer proximity (banking, energy, technology, automotive, steel) underpins demand and commute convenience
- Risk: neighborhood safety sits on the higher-crime side within the metro; underwrite with trend-aware assumptions and management plans