| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 76th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5312 Montague St, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 1985 |
| Units | 55 |
| Transaction Date | 2008-04-01 |
| Transaction Price | $2,574,000 |
| Buyer | Extensive Enterprises LLC |
| Seller | Westdale Fanny Properties Deed Ltd. |
5312 Montague St Charlotte Multifamily Investment
Positioned in an inner-suburban pocket with solid renter demand drivers and larger floor plans, this 55‑unit asset offers durable leasing potential according to WDSuite’s CRE market data.
Located in Charlotte s Inner Suburb fabric, the neighborhood rates A (59 of 709 metro neighborhoods), indicating competitive livability for workforce and professional tenants. Daily-needs access is a strength: grocery and pharmacy density ranks among the highest in the metro and sits in the low‑90s national percentiles, while cafes are even stronger (upper‑90s percentile). Limited park space inside the neighborhood is a tradeoff, but the retail and service mix supports day‑to‑day convenience for residents.
The existing housing stock skews older on average (1950s), while this property s 1985 vintage is newer than the local norm a relative edge for leasing and maintenance positioning. Even so, systems from the 1980s may warrant targeted modernization to sustain competitiveness versus recent deliveries.
Tenure patterns show a meaningful renter-occupied share in the neighborhood (near half of housing units), reinforcing a deep tenant base for multifamily. Within a 3‑mile radius, households have grown in recent years and are projected to expand materially, pointing to a larger pool of renters and supporting occupancy stability over the medium term. Income levels and rent trends indicate balanced affordability (rent-to-income around the metro middle), which can aid retention and steady collections. This perspective aligns with WDSuite s commercial real estate analysis without implying guarantees.
Home values here are elevated relative to many U.S. neighborhoods (upper‑60s national percentile), a context that tends to sustain reliance on rental housing and supports pricing power for well‑positioned assets, while still requiring active lease management to monitor any affordability pressure. Neighborhood occupancy has trended below metro leaders recently, so underwriting should account for leasing velocity assumptions rather than extrapolating best‑in‑class performance.
Safety indicators trail both national and metro benchmarks. The area sits in the lower national percentiles for safety, and its crime rank is below the metro median (closer to the bottom among 709 Charlotte-area neighborhoods). Recent data also shows mixed year-over-year trends, so prudent operators typically budget for security measures, lighting, and community engagement to support on-site conditions. These are neighborhood-level trends rather than property-specific observations.
Proximity to several headquarters and major corporate offices broadens the white‑collar and skilled administrative employment base, supporting renter demand and lease retention for commuters to these nodes: Sonic Automotive, Nucor, Bank of America, Duke Energy, and Cisco Systems.
- Sonic Automotive corporate offices (1.3 miles) HQ
- Nucor corporate offices (3.8 miles) HQ
- Bank of America Corp. corporate offices (4.8 miles) HQ
- Duke Energy corporate offices (4.9 miles) HQ
- Cisco Systems corporate offices (5.1 miles)
5312 Montague St combines scale (55 units) and larger average floor plans with inner‑suburban convenience and a renter‑oriented neighborhood context. The 1985 construction is newer than the area s predominantly mid‑century stock, offering a relative competitive position while leaving room for focused value‑add through system upgrades and common‑area refreshes. According to CRE market data from WDSuite, neighborhood occupancy has been softer than metro leaders, but renter concentration and strong access to daily amenities support steady tenant demand as household counts in the 3‑mile radius expand.
Elevated ownership costs locally and proximity to major employers underpin ongoing reliance on multifamily housing. With thoughtful capital planning, attention to safety best practices, and disciplined leasing assumptions, the asset can target stable performance aligned with neighborhood fundamentals rather than top‑quartile outcomes.
- Newer 1985 vintage versus older local stock, with potential value‑add via targeted modernization
- Strong daily‑needs access (grocery, pharmacy, cafes) supports renter convenience and retention
- Expanding 3‑mile household base points to a larger tenant pool and supports occupancy stability
- Proximity to multiple corporate HQs offers durable commuter demand
- Risk: neighborhood safety and below‑median occupancy require prudent underwriting and active management