| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 77th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2352 Township Rd, Charlotte, NC, 28273, US |
| Region / Metro | Charlotte |
| Year of Construction | 1991 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2352 Township Rd Charlotte Multifamily Investment
Renter demand is supported by a sizable renter-occupied housing base and steady neighborhood occupancy, according to WDSuite’s CRE market data. This positioning favors durable leasing with room for selective value-add to enhance yield.
Located in Charlotte’s inner suburbs, the property benefits from an A-rated neighborhood that is competitive among 709 Charlotte metro neighborhoods (ranked 65th), with national metrics placing it in the top quartile for overall neighborhood quality. Grocery access is a relative strength (competitive rank of 48 out of 709), while restaurant options trend above national averages; parks and cafes are limited nearby, which may temper lifestyle appeal but does not preclude workforce-oriented demand.
Neighborhood occupancy trends are competitive among Charlotte neighborhoods (ranked 259 of 709), supporting income stability for professionally managed assets. The local renter-occupied share is high relative to the nation (top decile nationally), signaling a deep tenant base for multifamily product and reinforcing demand during typical leasing cycles.
Within a 3-mile radius, demographics show population and household growth over the past five years, with forecasts pointing to continued expansion and a modest decrease in household size. For investors, a growing nearby population and more households translate into a larger tenant base and support for occupancy over the medium term.
Home values sit in a mid-range context for Charlotte, and rent-to-income levels indicate manageable affordability pressure, which can aid lease retention and reduce turnover risk. The asset was built in 1991, while neighborhood stock skews newer on average (late 1990s), suggesting potential value-add through targeted interior and systems upgrades to remain competitive against newer comparables.
Safety performance trends below the metro median (crime rank 398 out of 709 Charlotte neighborhoods), and national comparisons indicate the area is less safe than many neighborhoods nationwide. Investors should underwrite appropriate security measures and insurance assumptions.
That said, recent WDSuite indicators show year-over-year improvement, with both violent and property offense rates trending down meaningfully over the last year. Continued monitoring is prudent, but a improving trajectory can support leasing stability when paired with professional on-site management.
Proximity to major employers underpins renter demand with diverse office and corporate roles, notably in industrial gases, healthcare distribution, steel, networking, and utilities.
- Airgas — industrial gases (4.0 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution/consulting (4.8 miles)
- Nucor — steel — HQ (6.4 miles)
- Cisco Systems — networking/technology (7.1 miles)
- Duke Energy — utilities — HQ (8.2 miles)
This 52-unit asset built in 1991 offers a practical value-add path relative to nearby late-1990s stock: targeted interior refreshes and system updates can improve competitive positioning while maintaining operational efficiency. Neighborhood occupancy is competitive within the Charlotte metro and the renter-occupied share is high nationally, pointing to a deep tenant base and solid leasing fundamentals. Based on CRE market data from WDSuite, rent levels align with local incomes, suggesting manageable affordability pressures that can support retention and steady cash flows.
Within a 3-mile radius, population and household growth—along with a projected expansion in higher-income cohorts—support long-run renter pool expansion. Homeownership costs in this area are moderate by national standards, which supports sustained reliance on multifamily housing without eroding rental demand. Key underwriting considerations include ongoing safety monitoring and the property’s older vintage, which should be reflected in capital plans.
- Competitive neighborhood occupancy and strong renter concentration support leasing stability
- 1991 vintage provides clear value-add and modernization opportunities versus newer comps
- Growing 3-mile population and households expand the tenant base over time
- Rent-to-income levels indicate manageable affordability pressure aiding retention
- Risks: below-metro safety performance, limited nearby parks/cafes, and capex needs for an older asset