| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 86th | Best |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3521 Warp St, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3521 Warp St Charlotte Multifamily Investment
Newer 20-unit asset in an Inner Suburb setting with steady neighborhood occupancy and deep renter demand, according to WDSuite s CRE market data. Proximity to major employers and a high-amenity corridor supports leasing durability and retention.
The property sits in an A+ rated Charlotte Inner Suburb neighborhood that is competitive among Charlotte-Concord-Gastonia metro neighborhoods (ranked 3 of 709). Amenity access is a clear strength: parks density ranks 1 of 709 (top quartile nationally at the 98th percentile), with restaurants (13 of 709; 95th percentile) and grocery options (27 of 709; 92nd percentile) reinforcing daily convenience for residents. These neighborhood metrics track at the neighborhood level and indicate durable lifestyle appeal that supports renter demand.
Construction in the area skews older (average 1989; above metro median nationally at the 68th percentile), while this property s 2013 vintage offers a competitive position versus legacy stock. Investors should still plan for mid-life system updates and selective modernization to sustain pricing power against newer deliveries.
Neighborhood occupancy is measured for the neighborhood, not the property, and trends near the national middle (about the 55th percentile), suggesting stable but competitive leasing conditions. Median contract rents in the neighborhood have risen over the last five years and sit around the 80th national percentile, while the rent-to-income ratio tracks below the national median; together this points to manageable affordability pressure and room for disciplined revenue management.
Within a 3-mile radius, demographics show population growth over the last five years with households expanding at a faster pace and average household size edging down. This dynamic typically enlarges the tenant base and supports occupancy stability. Renter-occupied share is approximately 60% within this 3-mile radius, indicating a substantial renter concentration and depth of demand for multifamily units.
Safety conditions should be viewed in context and at the neighborhood level. Relative to Charlotte s 709 neighborhoods, recent crime indicators place the area below the metro median, and national comparisons show it below the national median for safety. That said, the latest trend shows a notable year-over-year improvement in property offenses, which is a constructive directional signal. Investors should underwrite with conservative assumptions while monitoring continued trend improvement.
Nearby headquarters and corporate offices provide a deep employment base that supports commuter convenience and renter demand, including Bank of America, Duke Energy, Cisco Systems, Sonic Automotive, and Merck.
- Bank of America Corp. 4 corporate offices (2.9 miles) 4 HQ
- Duke Energy 4 utilities (3.3 miles) 4 HQ
- Cisco Systems 4 technology offices (4.3 miles)
- Sonic Automotive 4 automotive retail HQ (5.0 miles) 4 HQ
- Merck 4 pharmaceuticals offices (6.0 miles)
This 2013-vintage, 20-unit asset benefits from a high-amenity Inner Suburb location with strong regional employment access and a renter-heavy demand base. Neighborhood rent levels sit above national medians while rent-to-income readings remain comparatively moderate, supporting disciplined rent growth strategies. According to CRE market data from WDSuite, neighborhood occupancy trends near the national middle, indicating steady leasing with competition that rewards well-maintained, professionally managed product.
Within a 3-mile radius, households have expanded meaningfully in recent years and are projected to continue growing into 2028, enlarging the tenant pool. The property s newer vintage versus the area s older average stock provides a competitive edge, while investors should plan for mid-life capital items to sustain performance. Elevated ownership costs locally reinforce renter reliance on multifamily housing, aiding retention and pricing power over the cycle.
- 2013 construction competes well against older neighborhood stock while allowing targeted value-add to enhance positioning
- High-amenity corridor with top-tier parks, dining, and grocery access supports leasing velocity and retention
- Deep regional employment base nearby (finance, utilities, tech, automotive, pharma) underpins renter demand
- Household and population growth within 3 miles expand the renter pool, supporting occupancy stability
- Risk: neighborhood safety metrics trail metro and national medians; conservative underwriting and security/lighting investments can mitigate exposure