| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 16th | Poor |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5901 Farm Pond Ln, Charlotte, NC, 28212, US |
| Region / Metro | Charlotte |
| Year of Construction | 1980 |
| Units | 40 |
| Transaction Date | 2022-03-10 |
| Transaction Price | $37,900,000 |
| Buyer | CHARLOTTE HOLDINGS 240 LP |
| Seller | SUMMIT RIDGE APTS LLC |
5901 Farm Pond Ln Charlotte Multifamily Investment
Inner Suburb location with a majority renter-occupied housing base supports steady tenant demand, according to WDSuite’s CRE market data. This positioning favors occupational stability over time while offering room for operational improvement through disciplined commercial real estate analysis.
Located in Charlotte’s Inner Suburb, the neighborhood is competitive among Charlotte-Concord-Gastonia neighborhoods (ranked 183 out of 709) with an A- neighborhood rating, reflecting balanced livability and investment appeal. Amenity access is a clear strength, with grocery, parks, and pharmacies ranking near the top of the metro (e.g., amenity rank 6 out of 709) and translating to convenient daily needs for residents. Nationally, amenity access sits in the top quartile, underscoring lifestyle convenience that can help with leasing and retention.
Schools within the broader area trend lower on average, and should be factored into underwriting for family-oriented unit mixes. At the same time, neighborhood rents sit around the middle of national distributions and the rent-to-income relationship indicates relatively manageable affordability pressure, which can support lease retention and reduce turnover risk.
Housing tenure skews toward renter-occupied units within the neighborhood and across the surrounding 3-mile radius, signaling a deep tenant base for multifamily. Within 3 miles, recent years show modest population growth alongside a clearer increase in households and a gradual reduction in average household size — dynamics that typically expand the renter pool and support occupancy stability for well-managed assets.
Home values are moderate by national standards but ownership remains a high-cost commitment relative to incomes in this submarket, which tends to reinforce reliance on rental housing. For investors, this backdrop suggests durable renter demand with pricing power governed by local affordability bands rather than premium positioning.
Safety indicators are mixed and should be incorporated into risk management. The neighborhood’s overall crime rank sits below the metro median (492 out of 709), and national comparisons place the area below average for safety. Violent-offense measures rank in a low national percentile, signaling elevated risk relative to many neighborhoods nationwide, while property-offense rates have improved year over year, indicating a constructive directional trend.
Investors should underwrite with realistic security line items and consider design and operational measures that support resident comfort. Monitoring recent trend improvement — especially the decline in property offenses — can help calibrate ongoing strategy and capital planning.
Proximity to several major corporate headquarters and offices supports commuter convenience and broad white-collar and services employment, which can stabilize renter demand and renewal velocity. The list below highlights nearby anchors most relevant to the tenant base.
- Sonic Automotive — corporate offices (3.6 miles) — HQ
- Nucor — corporate offices (6.1 miles) — HQ
- Bank of America Corp. — corporate offices (6.2 miles) — HQ
- Duke Energy — corporate offices (6.4 miles) — HQ
- Cisco Systems — corporate offices (6.9 miles)
With 40 units built in 1980, the asset offers potential value-add opportunity through exterior/interior modernization and system upgrades relative to slightly newer average neighborhood stock. The surrounding Inner Suburb shows strong amenity access and a renter-leaning housing base, supporting leasing depth. According to CRE market data from WDSuite, neighborhood-level occupancy and rent positioning suggest stable demand dynamics with room to enhance performance through targeted capex and management.
Within a 3-mile radius, modest population growth pairs with a more pronounced increase in households and smaller average household sizes, pointing to a broader tenant pool over the medium term. Ownership remains a higher-commitment path relative to local incomes, which helps sustain reliance on multifamily rentals. Key risks include below-median safety rankings and lower average school ratings; these can be mitigated with prudent security planning, resident engagement, and asset quality upgrades.
- Renter-leaning neighborhood and 3-mile trade area support a deep tenant base and occupancy stability.
- Strong amenity access (grocery, parks, pharmacies) enhances day-to-day livability and renewal potential.
- 1980 vintage provides value-add and modernization upside versus slightly newer local stock.
- Affordability positioning supports lease retention, with pricing power governed by local income bands.
- Risks: below-median safety and lower school ratings warrant security budgeting and careful tenant targeting.