| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 85th | Best |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2633 Richardson Dr, Charlotte, NC, 28211, US |
| Region / Metro | Charlotte |
| Year of Construction | 1974 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2633 Richardson Dr, Charlotte Multifamily Investment
In a high-cost ownership pocket of Charlotte, renter demand is supported by strong household incomes and competitive rent-to-income dynamics, according to WDSuite’s CRE market data.
Located in an A-rated, suburban neighborhood ranked 33 out of 709 within the Charlotte metro, the area is competitive among Charlotte neighborhoods for overall livability. Neighborhood-level rents skew high relative to the metro (median contract rent ranks 22 of 709), while the local renter-occupied share sits around the metro median, indicating a stable but discerning tenant base. Median home values rank 4 of 709 and sit in the top percentile ranges nationally, which helps sustain multifamily demand as ownership costs remain elevated.
Amenities trend favorable for daily convenience and lifestyle. Restaurant and cafe density ranks 32 and 8 of 709 respectively—top quartile locally and strong by national percentiles—while pharmacies are also above the metro median. Park and formal childcare facilities are thinner within the neighborhood footprint, so residents often rely on nearby submarkets for those needs. Average school ratings are above national norms (about the 73rd percentile), supporting family-oriented renter appeal without positioning schools as the sole draw.
Demographic statistics within a 3-mile radius point to a growing and affluent renter pool. Population and households have expanded in recent years and are projected to continue growing over the next five years, contributing to a larger tenant base and supporting occupancy stability. Median household incomes are high, and the rent-to-income profile at the neighborhood level remains manageable, which can aid lease retention and measured pricing power.
The property’s 1974 vintage is older than the neighborhood’s average construction year (1988), suggesting investors should plan for ongoing capital expenditures and consider value-add renovations to enhance competitiveness against newer stock.
Safety indicators are mixed and should be underwritten with care. Relative to neighborhoods nationwide, the area sits below average on safety metrics (violent and property offense percentiles are on the lower end), and within the Charlotte metro its crime rank does not place it above the median among 709 neighborhoods. That said, recent year-over-year trends show improvement, with notable declines in estimated violent offense rates and a modest reduction in property offenses, signaling a direction investors should monitor rather than a guaranteed trajectory.
For investors, the practical takeaway is to incorporate conservative assumptions on security, lighting, and resident experience, and to evaluate how improving trends could support retention and leasing if sustained. Compare property-level measures with nearby submarkets to validate underwriting.
Proximity to major corporate offices supports a strong white-collar renter base and commute convenience, including Nucor, Sonic Automotive, Airgas, Cisco Systems, and Duke Energy.
- Nucor — steel HQ & corporate offices (0.5 miles) — HQ
- Sonic Automotive — auto retail corporate offices (2.0 miles) — HQ
- Airgas — industrial gases corporate offices (3.4 miles)
- Cisco Systems — networking corporate offices (4.1 miles)
- Duke Energy — utilities corporate offices (4.7 miles) — HQ
2633 Richardson Dr offers exposure to one of Charlotte’s higher-income, ownership-heavy neighborhoods where elevated home values reinforce reliance on multifamily rentals. Neighborhood rents benchmark in the upper tier locally, yet rent-to-income remains manageable, supporting retention and measured pricing power. The 1974 vintage is older than the area norm, creating value-add potential through targeted renovations and systems upgrades to compete with newer assets.
Demand fundamentals are supported by a 3-mile radius showing growth in population and households, with further expansion projected—an indicator of a deeper tenant base and sustained leasing. According to CRE market data from WDSuite, neighborhood-level occupancy has softened versus historical norms, so underwriting should emphasize operational execution and amenity upgrades, while proximity to major employers provides a durable white-collar renter pipeline.
- High-income, ownership-heavy location supports rental demand and retention
- Value-add upside given 1974 vintage relative to newer neighborhood stock
- Employer proximity (Nucor, Duke Energy, Cisco) underpins white-collar renter base
- Population and household growth within 3 miles expand the tenant pool
- Risks: below-average safety metrics and softer neighborhood occupancy warrant conservative underwriting