| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 91st | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 417 W 10th St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 1985 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
417 W 10th St Charlotte Urban Core Value-Add
Positioned in Charlotte's Urban Core, the neighborhood shows strong renter demand and amenity density, according to WDSuite's CRE market data. For investors, the key takeaway is a deep renter pool supported by nearby growth, offset by competitive leasing dynamics at the neighborhood level.
Charlotte's Urban Core around 417 W 10th St carries an A+ neighborhood rating and ranks 7 out of 709 metro neighborhoods, indicating top-tier fundamentals within the region. Amenity access is a standout: cafes and grocery options rank 1 of 709 neighborhoods in the metro, with parks near the top as well (3 of 709) — a combination that supports day-to-day convenience and helps leasing and retention for multifamily assets.
Renter occupancy is a defining characteristic at the neighborhood level, with a high share of housing units renter-occupied (rank 86 of 709; top quartile nationally). This depth of renter households typically supports steady leasing velocity and a wider tenant base for smaller properties like this 30‑unit asset. Median asking rents in the neighborhood score in the upper end of the metro (rank 105 of 709; above the metro median), while rent-to-income levels suggest manageable affordability pressure for many households, which can aid retention.
One counterpoint for investors: the neighborhood's occupied-housing share ranks 667 of 709, signaling below-metro-average occupancy and elevated competition for leases. That said, demographic statistics aggregated within a 3-mile radius point to continued demand drivers, including population growth, a projected increase in households, and smaller average household sizes over the next five years — all of which support a larger tenant base and potential absorption.
The property's 1985 construction is older than the neighborhood's average vintage (1993; ranked 217 of 709, above the metro median), suggesting potential value-add or modernization opportunities. Elevated home values at the neighborhood level and a high-amenity, urban context further reinforce renter reliance on multifamily housing, supporting pricing power when paired with effective leasing and management.
Safety indicators are mixed and warrant monitoring. Crime measures rank 552 out of 709 metro neighborhoods, placing the area below the metro median and weaker compared to many neighborhoods nationwide. According to CRE market data from WDSuite, estimated property offenses have improved year over year (-8.5%) even as estimated violent offenses ticked up modestly (+2.6%). For underwriting, this suggests a need for prudent operating plans (lighting, access control, resident engagement) and realistic lease assumptions while recognizing recent improvement in certain categories.
The immediate area benefits from proximity to major corporate offices that support a strong renter base and short commutes, including Bank of America, Duke Energy, Cisco Systems, Sonic Automotive, and AmerisourceBergen. These employers contribute to weekday population inflows, leasing stability, and move-in velocity for workforce and professional tenants.
- Bank of America Corp. — corporate offices (0.6 miles) — HQ
- Duke Energy — corporate offices (0.9 miles) — HQ
- Cisco Systems — corporate offices (2.0 miles)
- Sonic Automotive — corporate offices (4.7 miles) — HQ
- AmerisourceBergen Healthcare Consultants — corporate offices (5.0 miles)
This 30-unit, 1985-vintage asset sits within an A+ rated urban neighborhood that ranks among the top performers in the Charlotte metro. Amenity density is exceptional (metro-leading access to cafes and groceries), and the neighborhood maintains a high renter-occupied share, which deepens the tenant base. Demographic statistics within a 3-mile radius point to population growth, a sizable increase in households, and smaller average household sizes, supporting multifamily demand and potential occupancy stability over time, according to CRE market data from WDSuite.
Balanced against these strengths, neighborhood-level occupied-housing rates sit below the metro median, implying more competitive leasing conditions, and safety metrics trail many peer neighborhoods. Execution should emphasize renovation-driven differentiation, disciplined leasing, and active management to capture demand drivers while mitigating risk.
- Urban Core location with top-tier amenity access supports leasing velocity and retention
- High neighborhood renter-occupied share indicates a deep tenant base for a 30-unit asset
- 1985 vintage offers value-add or modernization upside versus newer competitive stock
- 3-mile population and household growth expand the renter pool and support absorption
- Risks: below-metro occupancy and softer safety metrics require proactive leasing and operations