| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 710 E 7th St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 2008 |
| Units | 86 |
| Transaction Date | 2005-09-30 |
| Transaction Price | $4,180,000 |
| Buyer | FIRST WARD RESIDENTIAL LLC |
| Seller | HOUSING AUTHORITY OF THE CITY CHARLOTTE |
710 E 7th St Charlotte Multifamily Investment
Neighborhood renter concentration and amenity depth point to durable leasing fundamentals for an 86-unit asset, according to WDSuite’s CRE market data. Metrics cited are neighborhood-level indicators, not property performance.
The property sits in a high-amenity Charlotte location that ranks among the strongest locally. Amenity access is top-ranked among 709 metro neighborhoods and places the area in the top quartile nationally, with dense restaurant and grocery options supporting day-to-day convenience and competitive positioning for multifamily assets.
Neighborhood-level housing dynamics are supportive for investors: the share of housing units that are renter-occupied is elevated (68.5%), indicating a deep tenant base for multifamily demand. Occupancy in the neighborhood has trended higher over the past five years, which can help support leasing stability when paired with strong amenity fundamentals. This context reflects neighborhood conditions, not the subject property’s occupancy.
Within a 3-mile radius, demographics show population growth alongside a notable increase in households and a modest decline in average household size — factors that typically expand the renter pool and can support absorption and renewal rates. Incomes have risen, and a moderate rent-to-income ratio at the neighborhood level suggests manageable affordability pressure that can aid retention and pricing discipline. For investors conducting commercial real estate analysis, these demand signals align with steady near-term tenant depth.
Home values in the neighborhood are elevated relative to incomes, positioning the area as a higher-cost ownership market. This dynamic often sustains reliance on multifamily housing, supporting lease-up velocity and renewal potential. The property’s 2008 vintage is newer than the neighborhood’s average construction year (2000), which can provide a competitive edge versus older stock while still warranting targeted modernization and ongoing systems upkeep in capital plans.
Safety indicators at the neighborhood level are below national averages, with rankings that place the area under the metro median among 709 Charlotte-area neighborhoods. Nationally, the neighborhood sits in a lower safety percentile, signaling that investors should underwrite enhanced security, lighting, and operational oversight as part of asset management.
Recent trends are mixed: estimated property offenses have declined year over year, while violent offense estimates have increased. These are neighborhood-level measures and can vary by block and property operations. Prudent underwriting would consider trend monitoring, resident communication, and partnerships with on-site management to support perception and retention.
Proximity to core Uptown employers supports commuter convenience and a broad white-collar renter base, with a concentration in banking, utilities, technology, auto retail, and steel production.
- Bank of America Corp. — banking (0.5 miles) — HQ
- Duke Energy — utilities (0.8 miles) — HQ
- Cisco Systems — networking technology (1.7 miles)
- Sonic Automotive — auto retail (3.9 miles) — HQ
- Nucor — steel producer (4.5 miles) — HQ
710 E 7th St offers scale at 86 units with a 2008 vintage that is newer than the neighborhood average, positioning the asset competitively versus older inventory. The immediate area is one of Charlotte’s highest-amenity neighborhoods, and a high renter-occupied share signals depth in the tenant base. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years, and elevated home values relative to incomes reinforce sustained reliance on rental housing.
Within a 3-mile radius, population and household growth point to a larger renter pool ahead, while a moderate rent-to-income profile supports retention and measured pricing power. Investors should still plan for targeted upgrades typical of mid-2000s construction and incorporate prudent operating measures given that neighborhood safety metrics trend below national norms.
- Newer 2008 vintage vs. local average, offering competitive positioning with targeted modernization potential
- High-amenity location with strong neighborhood ranking and dense daily-needs access supporting leasing
- Deep renter-occupied housing base and expanding 3-mile household counts reinforce tenant demand
- Risk: neighborhood safety metrics rank below metro median; underwrite security and resident experience initiatives