| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 25th | Poor |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6110 Forest Glen Rd, Charlotte, NC, 28212, US |
| Region / Metro | Charlotte |
| Year of Construction | 1973 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6110 Forest Glen Rd Charlotte Value-Add Multifamily
Neighborhood renter-occupied share is high, supporting a larger tenant base and steady leasing, according to WDSuite’s CRE market data. Rents sit in a moderate range for Charlotte, helping underpin demand while leaving room for targeted upgrades to compete.
This Inner Suburb location is competitive among Charlotte neighborhoods (ranked 196 out of 709) for daily conveniences, with strong dining density (restaurant options near the 90th percentile nationally) and above-average access to groceries and pharmacies. Parks, cafes, and formal childcare are more limited nearby, so on-site amenities and family-friendly features can differentiate the asset.
Neighborhood occupancy is around the national average and below the metro median (ranked 459 of 709), with a modest five-year softening. However, the area’s renter-occupied share is high (95th percentile nationally), indicating deep renter concentration that supports multifamily demand and a broad leasing funnel. Median contract rents track around the 60th percentile nationally, which aligns with a value-oriented positioning.
Within a 3-mile radius, demographics point to gradual population growth and a larger number of households, with forecasts indicating further household increases alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability. Household incomes have been rising, and projected gains suggest additional spending power — context that, paired with prudent unit renovations, can sustain competitiveness based on commercial real estate analysis from WDSuite.
Ownership remains a high-cost path relative to local incomes (value-to-income ratio near the upper tier nationally), which tends to reinforce reliance on rental housing and can aid lease retention. At the same time, a rent-to-income ratio around 0.31 signals some affordability pressure; operators may benefit from disciplined rent setting and amenity trade-offs to manage retention risk.
Safety metrics are mixed in this neighborhood. Compared with U.S. neighborhoods, overall safety sits below average (national percentiles around the low 40s), and violent incidents benchmark weaker (around the low teens nationally). Relative to the Charlotte metro, the neighborhood’s crime position is near the middle of the pack (ranked 325 of 709). Investors should plan for standard safety-forward operations, lighting, and surveillance to support resident confidence.
Recent trends are directionally constructive: estimated property offenses declined meaningfully year over year (improvement in the upper tier nationally for trend), and violent offenses also improved. Sustained management focus and community engagement can help reinforce this improvement trajectory over time.
Proximity to major corporate employers supports a diverse renter base and commute convenience, notably in finance, energy, steel, and technology. These anchors can contribute to leasing stability and resident retention.
- Sonic Automotive — automotive retail HQ (3.9 miles) — HQ
- Bank of America Corp. — banking HQ (6.0 miles) — HQ
- Duke Energy — energy HQ (6.3 miles) — HQ
- Nucor — steel HQ (6.3 miles) — HQ
- Cisco Systems — technology offices (6.8 miles)
Built in 1973, this 112-unit asset is older than the neighborhood average, creating clear value-add potential through interior updates, systems modernization, and curb-appeal enhancements. The submarket shows a deep renter base (high renter-occupied share) and access to major employers, while neighborhood occupancy trends near national norms suggest demand durability with thoughtful operations. According to CRE market data from WDSuite, ownership costs are elevated versus local incomes, which tends to sustain reliance on multifamily housing.
Forward-looking demographics within a 3-mile radius indicate incremental population growth and a notable increase in household count alongside smaller household sizes — dynamics that typically expand the renter pool and support leasing. Operators should balance renovation scope with pricing discipline given a rent-to-income profile that implies affordability pressure, while leveraging nearby amenities and employment anchors to drive retention.
- 1973 vintage supports a value-add thesis via targeted unit upgrades and building systems planning
- Deep neighborhood renter concentration provides demand depth and a broad leasing funnel
- Access to major employers and strong dining/retail nearby underpins resident convenience and retention
- Household growth within 3 miles and smaller household sizes support ongoing renter pool expansion
- Risk: occupancy below metro median and rent-to-income pressure require disciplined pricing and asset management