| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 64th | Good |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 Village Lake Dr, Charlotte, NC, 28212, US |
| Region / Metro | Charlotte |
| Year of Construction | 1973 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2121 Village Lake Dr Charlotte Multifamily Investment
Neighborhood occupancy near 98% supports stable leasing, according to WDSuite s CRE market data, with rents positioned in the mid-market range for the area. Strong renter demand in this inner suburb suggests dependable absorption with measured pricing power.
Located in Charlotte s inner suburbs, the neighborhood around 2121 Village Lake Dr carries a B rating and performs above metro median on several renter-demand markers. Neighborhood occupancy is about 98.2% and ranks 85 out of 709, placing it in the top quartile among metro neighborhoods a signal of leasing stability for multifamily.
Renter concentration is high: approximately 69.6% of housing units are renter-occupied (ranked 30 of 709), indicating a deep tenant base and steady demand for apartments. Home values sit near the national midpoint, while the value-to-income ratio is in the higher national percentiles, reflecting a relatively high-cost ownership market that can reinforce reliance on rentals and support retention. At the same time, the rent-to-income ratio trends in lower national percentiles, which points to comparatively lower affordability pressure and potential for steadier renewals.
Amenity access is mixed. Grocery availability is competitive nationally (roughly 88th percentile), aiding day-to-day convenience, while parks, cafes, and restaurants within the neighborhood footprint are limited. These dynamics favor properties that deliver on-site functionality or proximity to everyday services; investors should anticipate that residents may travel a bit for discretionary amenities.
Within a 3-mile radius, demographics show a large, diversified population base with modest population contraction recently but a projected return to growth over the next five years alongside a notable increase in households. That pattern more households even as population stabilizes can expand the renter pool and support occupancy stability. The neighborhood s smaller average household size compared with many U.S. areas also aligns with demand for efficient units and workforce housing.
Safety indicators in this neighborhood trail national comparables overall, with crime levels below the national median. However, recent year data shows a meaningful decline in property crime rates, suggesting some improvement in trend. Investors should underwrite security line items and asset-level controls accordingly and benchmark against nearby Charlotte submarkets for context.
Nearby corporate anchors provide diversified employment and commute convenience that can support renter retention and leasing, including Sonic Automotive, Nucor, Bank of America, Duke Energy, and Cisco Systems.
- Sonic Automotive corporate offices (3.1 miles) HQ
- Nucor corporate offices (5.1 miles) HQ
- Bank of America Corp. corporate offices (7.1 miles) HQ
- Duke Energy corporate offices (7.3 miles) HQ
- Cisco Systems corporate offices (7.3 miles)
This 120-unit asset, built in 1973, is older than the neighborhood s average vintage and may benefit from targeted capital improvements or value-add upgrades to enhance competitiveness. The surrounding neighborhood shows top-quartile occupancy among 709 metro neighborhoods and a high share of renter-occupied housing, pointing to a durable tenant base and steady leasing. According to CRE market data from WDSuite, ownership costs in the area trend relatively high versus incomes, which can sustain multifamily demand, while rent-to-income levels indicate comparatively manageable monthly burdens that support renewal rates.
Forward-looking 3-mile demographics indicate a projected increase in households, suggesting renter pool expansion even as population normalizes. Amenity access is strongest for daily-needs grocery options, while parks and cafes are thinner locally a manageable trade-off for workforce renters when paired with proximity to major employers. Investors should plan for ongoing security measures given below-median national safety metrics and consider renovations that speak to efficient living preferences and operating durability.
- Top-quartile neighborhood occupancy and high renter concentration support leasing stability
- 1973 vintage offers value-add potential through selective capex and modernization
- Household growth within 3 miles points to renter pool expansion and demand depth
- Daily-needs amenities and proximity to major employers aid retention and occupancy
- Risks: below-median national safety metrics and limited neighborhood parks/cafes warrant underwriting for security and amenities