| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 321 N Davidson St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 1996 |
| Units | 68 |
| Transaction Date | 2004-10-22 |
| Transaction Price | $1,700,000 |
| Buyer | COURTSIDE PROPERTIES LLC |
| Seller | BOULEVARD CENTRO LLC |
321 N Davidson St Charlotte Urban Multifamily Positioning
Renter demand is supported by a high neighborhood renter concentration and strong amenity access, according to WDSuite’s CRE market data. Neighborhood occupancy trends and sustained in-migration into Uptown-adjacent areas point to steady leasing fundamentals rather than outsized volatility.
Located just north of Uptown Charlotte, 321 N Davidson St sits in a neighborhood that ranks first among 709 metro neighborhoods for amenity access, with dense grocery, restaurant, park, and pharmacy options within a compact radius. This concentration of daily needs and lifestyle amenities helps support leasing velocity and resident retention for urban product.
At the neighborhood level, renter-occupied housing is prevalent (roughly two-thirds of units), indicating a deep tenant base for multifamily demand. Neighborhood occupancy is measured at 88.8% and has improved over the past five years, a backdrop that suggests stable but competitively supplied conditions rather than tight scarcity. Median contract rents in the area have risen over the last cycle, while a rent-to-income ratio near 0.24 signals manageable affordability pressure that can aid retention and reduce turnover risk for operators.
Within a 3-mile radius, demographics show population growth over the past five years with households expanding at a faster pace than population, which typically reflects smaller household sizes and more renters entering the market. Forward-looking projections within this 3-mile catchment indicate continued gains in population and households, supporting a larger tenant base and helping sustain occupancy stability and leasing momentum.
The asset’s 1996 vintage is slightly older than the neighborhood’s average construction year (2000). For investors, this points to potential value-add and capital planning opportunities around interiors, common areas, and systems to strengthen competitive positioning against newer supply while leveraging the location’s amenity advantages. Elevated home values in the neighborhood relative to incomes reinforce reliance on rental housing, which can underpin pricing power without overextending affordability.
Safety indicators for this neighborhood track below the metro median based on ranks among 709 Charlotte-area neighborhoods and sit in a low national percentile relative to neighborhoods nationwide. For underwriting, this warrants prudent assumptions on security measures and operating protocols, especially for urban assets close to nightlife and major activity centers.
Recent trends are mixed: estimated property offenses have declined year over year, while estimated violent offenses have risen over the same period. Investors should focus on trendlines at the neighborhood level, micro-location awareness, and asset-level mitigation (lighting, access control, and resident engagement) rather than block-level conclusions.
The address benefits from proximity to a diversified employment base in Uptown, supporting renter demand through short commutes to financial services, utilities, technology, auto retail, and steel corporate offices.
- Bank of America Corp. — financial services (0.39 miles) — HQ
- Duke Energy — utilities (0.73 miles) — HQ
- Cisco Systems — networking/technology (1.68 miles)
- Sonic Automotive — auto retail (3.99 miles) — HQ
- Nucor — steel (4.55 miles) — HQ
321 N Davidson St offers an urban infill location with exceptional amenity access and a sizable renter base. Neighborhood data indicate improving occupancy with rents supported by a rent-to-income profile that suggests moderate affordability pressure, aiding retention. The 1996 vintage creates a clear value-add path to modernize finishes and building systems, allowing operators to compete effectively against younger stock while leveraging the address’s proximity to Uptown employment.
According to CRE market data from WDSuite, the neighborhood ranks at the top of the metro for amenities and shows multi-year rent growth alongside elevated home values, factors that reinforce reliance on multifamily housing. Nearby blue-chip employers broaden the demand pool and help stabilize absorption through cycle turns. Key underwriting considerations include measured safety trends and prudent capital reserves for renovations.
- Urban, amenity-rich location that ranks among the strongest in the metro for daily-needs access
- Deep renter-occupied housing base and household growth within 3 miles support a larger tenant pool
- 1996 vintage provides value-add and systems-upgrade opportunities to enhance competitive positioning
- Proximity to major employers in Uptown supports leasing stability and retention
- Risks: below-metro safety ranking and balanced (not tight) occupancy call for conservative underwriting and asset-level mitigation