| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 34th | Poor |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4610 Central Ave, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 1973 |
| Units | 55 |
| Transaction Date | 2014-11-20 |
| Transaction Price | $1,800,000 |
| Buyer | --- |
| Seller | BARBEE INVESTMENT ASSOC |
4610 Central Ave, Charlotte NC Multifamily Opportunity
Neighborhood occupancy around 95% and strong daily-needs access point to steady renter demand, according to WDSuite s CRE market data. Balanced positioning favors durable cash flow over outlier rent growth.
The property sits in Charlotte s Inner Suburb corridor with an A- neighborhood rating and a rank of 176 among 709 metro neighborhoods placing it in the top quartile locally. For investors, that signals broadly competitive fundamentals relative to the Charlotte market while still offering room for operational upside.
Access to daily needs is a clear strength: grocery stores, restaurants, parks, and pharmacies score well on a national basis (each in the upper ranges), while cafes are comparatively sparse. This mix typically supports lease retention for workforce renters who prioritize convenience over niche amenities.
Renter demand indicators are supportive. Neighborhood occupancy is about 95% and sits above national norms, and the share of housing units that are renter-occupied is elevated for the metro pointing to a deep tenant base and more consistent leasing velocity. Median rents track near the metro mid-range with meaningful five-year growth, suggesting achievable rent levels without relying on premium positioning.
Within a 3-mile radius, demographic data show a modest increase in population in recent years and a larger increase in households, with projections indicating further household growth alongside smaller average household sizes. For multifamily, that typically translates into a larger tenant base and supports occupancy stability even as unit mix and leasing strategies may need to adapt to shifting household composition.
Ownership costs are relatively high in the local context, and home values have moved up meaningfully. That backdrop tends to reinforce reliance on rental housing, supporting pricing power while keeping an eye on rent-to-income levels to manage retention risk.
Safety metrics for the immediate neighborhood are weaker than both metro and national benchmarks, with national comparisons placing the area in lower percentiles for safety. For underwriting, this warrants conservative assumptions on marketing and security line items and potentially elevated turnover planning relative to stronger-safety submarkets.
Recent trend data show property offenses declining year over year, while violent offense measures were roughly flat. Investors may view ongoing monitoring of multi-year trends and submarket policing or community initiatives as part of risk management rather than expecting rapid shifts.
Proximity to major employers underpins commuter convenience and broad white-collar and services demand, led by Sonic Automotive, Bank of America, Duke Energy, Cisco Systems, and Nucor all within a roughly 5-mile radius.
- Sonic Automotive corporate offices (3.0 miles) HQ
- Bank of America Corp. corporate offices (4.5 miles) HQ
- Duke Energy corporate offices (4.7 miles) HQ
- Cisco Systems corporate offices (5.3 miles)
- Nucor corporate offices (5.4 miles) HQ
This Charlotte Inner Suburb location pairs high neighborhood occupancy and a deep renter-occupied housing base with strong access to daily needs. According to CRE market data from WDSuite, occupancy in the neighborhood trends above national norms, and renter concentration supports a sizeable tenant pool. Nearby anchor employers across finance, energy, technology, and automotive services reinforce demand and reduce commute frictions that can affect retention.
Forward-looking household growth within a 3-mile radius and smaller projected household sizes suggest continued renter pool expansion and resilient leasing, while ownership costs remain elevated enough to sustain reliance on multifamily options. Key watch items include the local safety profile and school ratings; underwriting should incorporate prudent turnover, security, and marketing assumptions without banking on outsized rent growth.
- High neighborhood occupancy and deep renter-occupied base support stable leasing
- Strong daily-needs access (grocery, restaurants, parks, pharmacies) aids retention
- Diverse nearby employers bolster commuter demand and reduce volatility
- Household growth and smaller household sizes within 3 miles expand the tenant pool
- Risks: weaker safety metrics and modest school ratings warrant conservative expense and turnover planning