| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Fair |
| Demographics | 44th | Fair |
| Amenities | 14th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6940 Hidden Forest Dr, Charlotte, NC, 28213, US |
| Region / Metro | Charlotte |
| Year of Construction | 2002 |
| Units | 108 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6940 Hidden Forest Dr Charlotte Multifamily Investment
High renter concentration in the immediate neighborhood supports a deeper tenant base, while current occupancy levels signal the need for active leasing management, according to WDSuite s CRE market data.
Positioned in Charlotte s inner-suburban fabric, the property benefits from neighborhood fundamentals that matter to multifamily investors: a large share of units are renter-occupied (measured for the neighborhood, not the property), providing depth for leasing and renewals. The submarket s median construction vintage skews older (1970s), and a 2002 asset can compete well against that stock while still planning for mid-life system updates and selective common-area refreshes.
Amenities are mixed. Grocery access is competitive among Charlotte-Concord-Gastonia neighborhoods (ranked 67th out of 709), placing the area in the top quartile nationally for grocery store density. By contrast, cafes, restaurants, parks, and pharmacies are comparatively sparse in the immediate blocks, which can modestly reduce walkable appeal but is mitigated by short drives to retail corridors.
For rents and demand, neighborhood contract rents have risen over the last five years and sit around the metro s middle tier, while the neighborhood occupancy rate (measured for the neighborhood, not the property) is below the metro median and has softened versus five years ago. The renter-occupied share is among the highest in the metro (ranked 12th of 709), which points to a broad renter pool that can support leasing velocity when pricing is aligned to local incomes.
Demographic statistics aggregated within a 3-mile radius show stable population today with a forecasted increase in households and a gradual reduction in average household size through 2028. This dynamic typically expands the renter pool and supports occupancy stability for well-positioned assets. In a high-level affordability context, elevated rent-to-income ratios in the neighborhood signal some affordability pressure, which emphasizes the importance of unit mix, renewal strategy, and value-focused amenities in lease management.
Safety conditions should be evaluated with a metro and national lens. The neighborhood ranks 515th out of 709 Charlotte-area neighborhoods for overall crime, placing it below the metro median and below average nationally by percentile. Within that context, recent trend data shows estimated property offenses have decreased year over year in the neighborhood, while estimated violent offense rates have moved higher. Investors typically account for these mixed signals through security measures, lighting, and resident engagement, and by underwriting to neighborhood, not block-level, conditions.
Proximity to major Charlotte employers supports renter demand and commute convenience for a workforce tenant base, notably across finance, energy, technology, and life sciences represented below.
- Merck pharmaceuticals (3.6 miles)
- Bank of America Corp. banking & financial services (5.2 miles) HQ
- Duke Energy energy & utilities (5.6 miles) HQ
- Cisco Systems technology (6.7 miles)
- Sonic Automotive automotive retail (7.3 miles) HQ
Built in 2002, this 108-unit asset is newer than much of the neighborhood s housing stock, offering relative competitiveness versus older properties while planning for mid-life capital items and select upgrades that can reinforce leasing. The immediate neighborhood shows one of the metro s highest shares of renter-occupied housing, indicating a broad tenant base, though neighborhood occupancy is below the metro median and requires focused leasing and renewals to sustain performance. According to CRE market data from WDSuite, grocery access is a local strength and household growth within a 3-mile radius is projected to expand, which supports steady renter demand.
Market context is balanced: ownership costs in nearby areas are relatively more accessible than high-cost coastal markets, so pricing power hinges on delivering value relative to entry-level ownership and newer supply. Forward projections within a 3-mile radius point to growth in households and a smaller average household size, which typically supports renter pool expansion for well-located, value-focused communities.
- 2002 vintage positions the asset competitively versus older neighborhood stock, with clear mid-life value-add and systems planning.
- High neighborhood renter concentration supports tenant depth and leasing velocity for a 108-unit community.
- Household growth within 3 miles and strong grocery access underpin day-to-day livability and demand durability.
- Risk: neighborhood occupancy trails the metro median; underwriting should assume active leasing, competitive concessions, and careful renewal management.
- Risk: relatively accessible home values can create competition with ownership, emphasizing the need for value-forward amenities and unit-level updates.