| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 75th | Best |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 859 Shadow Elm Dr, Charlotte, NC, 28209, US |
| Region / Metro | Charlotte |
| Year of Construction | 1983 |
| Units | 22 |
| Transaction Date | 2006-05-18 |
| Transaction Price | $178,141 |
| Buyer | BMF V NC ARBOR VILLAGE LLC |
| Seller | BIG ARBOR VILLAGE NC LLC |
859 Shadow Elm Dr Charlotte Multifamily Investment
Inner-suburb location with a deep renter base and high-cost ownership context supports steady tenant demand; neighborhood fundamentals and occupancy sit near the metro middle, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Charlotte, the property sits in a neighborhood rated B+ and ranked 230 among 709 metro neighborhoods, indicating competitive positioning versus many local peers. The area’s renter-occupied share of housing units is high at 65.6% (top tier locally), which points to a sizable tenant pool and supports leasing depth for multifamily owners. Neighborhood occupancy trends track near the metro middle of the pack, suggesting stable but competitive lease-up dynamics rather than outsized pricing power.
Construction year for the asset is 1983, newer than the neighborhood’s average vintage of 1965. For investors, that can mean relatively stronger competitive positioning against older stock, while still planning for aging systems and selective modernization to enhance durability and NOI.
Within a 3-mile radius, demographics show population growth over the last five years alongside a faster increase in households and a modestly smaller average household size. That combination typically expands the renter pool and supports occupancy stability. Income levels in the 3-mile area skew higher with a sizable share of upper-income households, which can sustain demand for quality rentals. Median contract rents in the 3-mile radius have risen over time, reinforcing the need for disciplined lease management to balance revenue growth with retention.
Local amenity density inside the neighborhood core is limited for restaurants, cafes, groceries, parks, and pharmacies (low national percentiles), while access to childcare is comparatively strong (high national percentile). Practically, residents often rely on nearby districts for daily retail and dining. Elevated neighborhood home values (high national percentile) signal a high-cost ownership market, which tends to sustain multifamily reliance and can support retention for well-managed assets. This commercial real estate analysis is based on WDSuite’s metro and neighborhood benchmarks.
Safety indicators for the neighborhood track below national averages (lower national percentiles indicate more crime), placing the area closer to the higher-crime side of the spectrum versus many U.S. neighborhoods. Within the Charlotte-Concord-Gastonia metro, the neighborhood’s crime rank sits in the middle tranche when compared against 709 neighborhoods, underscoring the importance of prudent security measures and underwriting reserves.
Recent trend signals are mixed: estimated property crime shows a notable year-over-year decline (strong improvement in national percentile terms), while estimated violent crime reflects a less favorable recent trend. For investors, this argues for focused risk management—lighting, access control, and resident engagement—while recognizing that downward movement in property crime can aid retention and asset performance if sustained.
Proximity to major employers supports workforce housing demand and commute convenience, notably including Airgas, Cisco Systems, Nucor, Duke Energy, and Bank of America.
- Airgas — industrial gases (1.6 miles)
- Cisco Systems — networking & software (2.1 miles)
- Nucor — steel (2.2 miles) — HQ
- Duke Energy — utilities (3.1 miles) — HQ
- Bank of America Corp. — banking (3.4 miles) — HQ
This 22-unit, 1983-vintage asset offers exposure to an Inner Suburb with a large renter-occupied housing base and ownership costs that are elevated relative to national norms—factors that typically reinforce multifamily reliance and support retention. Neighborhood occupancy trends are near the metro middle, indicating steady demand with competitive leasing conditions rather than outsized rent push. According to CRE market data from WDSuite, the asset’s newer-than-neighborhood-average vintage can be a competitive edge versus older local stock, while targeted upgrades can enhance durability and operating margin.
Within a 3-mile radius, population growth, faster household expansion, and a smaller average household size point to a larger tenant base over time. Higher local incomes and rising achieved rents suggest revenue potential for quality operations, while the rent-to-income context indicates room to prioritize retention through measured renewal strategies. Key underwriting considerations include modest amenity density in the immediate area and safety metrics that trail national averages, which call for proactive property management and resident experience investments.
- Inner-suburb location with high renter-occupied share supports demand depth
- 1983 vintage is newer than local average, with value-add through selective modernization
- 3-mile demographics indicate population and household growth, enlarging the renter pool
- Elevated ownership costs bolster multifamily reliance and renewal potential
- Risks: limited immediate amenity density and below-average safety metrics require active management