| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 312 N Myers St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 2010 |
| Units | 82 |
| Transaction Date | 2009-02-06 |
| Transaction Price | $285,000 |
| Buyer | QUARTERSIDE APARTMENTS OWNER LLC |
| Seller | QUARTERSIDE CL APARTMENTS LLC |
312 N Myers St Charlotte Multifamily Investment
Renter demand is reinforced by a high renter concentration and an Inner Suburb location near Uptown; newer 2010 vintage supports competitive positioning, according to WDSuite’s CRE market data.
Located in Charlotte’s Inner Suburb near Uptown, the neighborhood scores A+ overall and ranks 9th among 709 metro neighborhoods, indicating strong fundamentals relative to the region. Amenity access is a clear strength: restaurants sit in the 99th percentile nationally, groceries in the 95th, parks in the 91st, and pharmacies in the 98th percentile, pointing to daily convenience and lifestyle appeal that can aid leasing and retention.
The area’s housing stock trends newer than much of the metro (neighborhood average construction year 2000), while the subject’s 2010 vintage positions it as relatively competitive versus older properties and may temper near-term capital needs; investors should still plan for systems modernization over the hold period.
Tenant depth looks favorable: the neighborhood’s share of renter-occupied housing units is high (68.5%; 97th percentile nationally), which supports a larger resident pool for multifamily. By contrast, neighborhood occupancy is below the national median, suggesting that leasing performance may be more management-sensitive; well-executed operations and amenity programming can help stabilize occupancy.
Within a 3-mile radius, population and household counts have been growing, with forecasts calling for further renter pool expansion and smaller average household sizes. Elevated home values and a high value-to-income ratio (86th percentile nationally) indicate a high-cost ownership market, which typically sustains rental demand and can support pricing power when paired with effective lease management. Neighborhood median contract rents are above many national peers (80th percentile), aligning with the area’s amenity depth and income profile.
Safety indicators are mixed and warrant monitoring. The neighborhood’s crime rank places it below the metro median (574th of 709 Charlotte-area neighborhoods), and national percentiles indicate elevated incidents relative to U.S. peers. Recent trends are nuanced: estimated property offenses declined year over year, while estimated violent offenses increased over the same period. Investors often address these dynamics through lighting, access control, and partnerships with local safety resources, and by aligning underwriting with submarket norms.
Proximity to major Uptown employers underpins commuter convenience and broad renter demand, led by banking, utilities, technology, automotive retail, and steel manufacturing offices and headquarters.
- Bank of America Corp. — banking (0.57 miles) — HQ
- Duke Energy — utilities (0.83 miles) — HQ
- Cisco Systems — networking & IT (1.68 miles)
- Sonic Automotive — automotive retail (3.78 miles) — HQ
- Nucor — steel (4.38 miles) — HQ
312 N Myers St offers scale at 82 units with a 2010 vintage in a neighborhood that ranks among the strongest in the Charlotte metro for amenities and access. A high share of renter-occupied housing units signals depth in the tenant base, while the area’s high-cost ownership landscape tends to reinforce reliance on multifamily. According to CRE market data from WDSuite, neighborhood rents sit above many national peers and amenities rank in the top tier nationally, supporting the case for demand resilience and competitive positioning versus older stock.
Key underwriting considerations include neighborhood occupancy that trails national norms and safety metrics that compare unfavorably to U.S. averages; active management, resident experience, and security enhancements can be important to sustain leasing velocity. Population and household growth within a 3-mile radius, coupled with proximity to major employers in Uptown, provide durable fundamentals for long-term operations.
- 2010 vintage offers competitive positioning versus older neighborhood stock with manageable modernization needs
- High renter-occupied share supports a deep tenant base and potential leasing stability
- Amenity-rich Inner Suburb near Uptown, with top-tier national rankings for restaurants, groceries, parks, and pharmacies
- Nearby headquarters cluster (banking, utilities, technology, steel) underpins workforce demand
- Risks: neighborhood occupancy below national median and safety metrics below national averages require tighter operations and security planning