| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 37th | Poor |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8330 N Tryon St, Charlotte, NC, 28262, US |
| Region / Metro | Charlotte |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 2013-05-03 |
| Transaction Price | $132,500 |
| Buyer | 8340 N TRYON PROPERTY LP |
| Seller | APPLE NINE NORTH CAROLINA LP |
8330 N Tryon St Charlotte Multifamily Investment
Neighborhood metrics point to a deep renter base and a high-cost ownership market that can sustain rental demand, according to WDSuite s CRE market data. While conditions vary by asset, the area s renter orientation supports leasing durability for well-positioned units.
Located in Charlotte s inner suburb near University City, the neighborhood shows a renter-oriented housing stock, with a high share of renter-occupied units at the neighborhood level supporting depth of tenant demand. Relative to the metro, the area s overall neighborhood rating sits above the median (ranked 244 among 709 Charlotte neighborhoods), indicating competitive livability for workforce and student-adjacent renters, per commercial real estate analysis from WDSuite.
Amenity access is mixed. Restaurants and pharmacies are competitive among Charlotte neighborhoods (both above metro median and stronger versus national averages), while parks and childcare are limited within the immediate neighborhood. Average school ratings sit near the national middle, which may matter for family-oriented renters. These dynamics suggest everyday convenience with some gaps that operators may offset through on-site amenities and service quality.
Home values are elevated relative to local incomes (high value-to-income ratio, top decile nationally), which tends to reinforce reliance on multifamily housing and can underpin pricing power for well-managed assets. At the same time, neighborhood rent-to-income levels indicate affordability pressure for some renter households, a consideration for renewals and lease management.
Demographic statistics aggregated within a 3-mile radius show population growth over the last five years and a larger increase in household count, with forecasts indicating continued expansion and a rising share of higher-income households by 2028. This points to a growing renter pool and potential demand for renovated or better-finished units that meet evolving expectations.
Vintage matters for positioning. With a 1990 construction year, the property is modestly older than the neighborhood s average stock, creating clear value-add pathways (interiors, systems, curb appeal) and capex planning considerations to remain competitive against newer deliveries.
Safety indicators for the neighborhood are below the metro average, with a crime rank of 585 out of 709 Charlotte neighborhoods and national safety percentiles that sit on the lower end. Property and violent offense estimates over the last year suggest elevated incident levels relative to many neighborhoods nationwide, according to WDSuite s data. Operators may wish to account for this through targeted security measures, lighting, and community engagement to support resident retention.
Trends are mixed in the most recent year: property offenses show only a slight uptick, while violent offense estimates increased more noticeably. While conditions can vary block to block, investors should underwrite to submarket comparables and evaluate site-specific mitigation potential rather than assuming metro-wide averages.
Proximity to major employers across life sciences, banking, energy, and technology supports a broad commuter tenant base and can aid leasing stability for workforce housing. Notable nearby employers include Merck, Bank of America, Duke Energy, Cisco Systems, and Sonic Automotive.
- Merck life sciences (2.3 miles)
- Bank of America Corp. banking (7.2 miles) HQ
- Duke Energy utilities (7.6 miles) HQ
- Cisco Systems technology (8.67 miles)
- Sonic Automotive automotive retail (8.93 miles) HQ
This 20-unit asset at 8330 N Tryon St benefits from a renter-heavy neighborhood, elevated ownership costs that keep multifamily competitive, and expanding household counts within a 3-mile radius. Based on CRE market data from WDSuite, neighborhood-level NOI per unit trends are comparatively strong versus many areas nationally, suggesting supportive fundamentals for well-operated properties.
The 1990 vintage creates a straightforward value-add thesis: targeted renovations and systems upgrades can improve competitive positioning against newer stock while capturing demand from a growing renter pool. Underwriting should incorporate neighborhood affordability pressure and below-metro-average safety metrics, with proactive management and security planning to support occupancy and retention.
- Renter-oriented neighborhood supports a deep tenant base and potential leasing durability.
- Elevated ownership costs locally reinforce reliance on rentals and pricing power for competitive units.
- 1990 construction offers clear value-add pathways to outperform older comparables.
- Growing households within 3 miles point to a larger future renter pool and sustained demand.
- Risks: below-metro-average safety and renter affordability pressure warrant conservative underwriting and active management.