| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 85th | Best |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8721 Prosser Way, Charlotte, NC, 28216, US |
| Region / Metro | Charlotte |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2013-11-22 |
| Transaction Price | $43,470,000 |
| Buyer | BR ASHTON LIMITED PARTNERSHIP |
| Seller | BR ASHTON I OWNER LLC |
8721 Prosser Way Charlotte Multifamily Investment Opportunity
Inner-suburb location with a deep renter base and household growth supports durable demand, while neighborhood occupancy sits below the metro average, according to WDSuite s CRE market data. Pricing power is aided by a high-cost ownership context in the area, helping stabilize retention for well-managed assets.
This inner-suburb Charlotte location balances daily convenience with residential stability. Grocery access ranks competitive among 709 metro neighborhoods and sits in a high national percentile, while restaurants are present but less dense. Cafes, parks, and pharmacies are limited within the immediate neighborhood, so residents likely rely on nearby corridors for lifestyle amenities. School ratings are not available in this dataset and are not evaluated here.
Rents in the neighborhood track above the metro median, suggesting a tenant base willing to pay for newer product and location advantages. Neighborhood occupancy is below the metro average, which places more emphasis on leasing execution and unit quality; however, the renter-occupied share is high by national standards, indicating a sizable tenant pool that supports multifamily absorption and renewal activity. All rent and occupancy references describe neighborhood-level conditions rather than this specific property.
Within a 3-mile radius, population has expanded in recent years and households have grown faster than population, pointing to smaller average household sizes and a broader pool of renters. Forward-looking estimates indicate continued increases in households and incomes, which typically support occupancy stability and steady leasing velocity for well-positioned communities. Median household income growth and a rent-to-income profile near 0.19 suggest manageable affordability pressure, aiding renewal capture when paired with measured rent strategy.
Home values are elevated relative to local incomes, a context that tends to reinforce reliance on multifamily housing and can sustain renter demand. For investors, this dynamic, combined with competitive grocery access and a large renter base, supports a strategy focused on retention and selective upgrades rather than aggressive turnover. Insights are based on CRE market data from WDSuite at the neighborhood level and compared against metro and national trends.
Safety indicators for the neighborhood track below the national median and below the average among 709 Charlotte metro neighborhoods, so underwriting should assume conservative marketing timelines and emphasize on-site security practices. Nationally benchmarked measures place the area in lower percentiles for safety, which can influence leasing velocity and insurance planning.
Recent trends are mixed: property offenses show year-over-year improvement, while violent offenses increased over the same period. For investors, this suggests monitoring trend direction rather than relying on a single-year snapshot, and calibrating operating plans accordingly. All figures reflect neighborhood-level comparisons, not block-specific conditions.
Proximity to major employers supports a broad commuter tenant base and helps retention through convenience to corporate campuses. Notable names within a practical drive include Merck, Bank of America, Duke Energy, Cisco Systems, and Lowe s.
- Merck — pharmaceuticals (5.7 miles)
- Bank of America Corp. — banking & financial services (9.5 miles) — HQ
- Duke Energy — utilities (9.7 miles) — HQ
- Cisco Systems — networking & technology (10.6 miles)
- Lowe s — home improvement retail (12.2 miles) — HQ
8721 Prosser Way offers 24 units built in 2012, positioning it as relatively modern versus much of the regional stock, with potential to compete on finishes and systems while planning for targeted mid-life updates. Neighborhood rents trend above the metro median and the renter-occupied share is high by national standards, indicating a sizable tenant base. Within a 3-mile radius, population and household growth expand the renter pool, which can support occupancy stability and renewal capture when paired with disciplined operations, according to CRE market data from WDSuite.
Homeownership remains a high-cost path locally, reinforcing demand for multifamily units and supporting pricing resilience. While neighborhood occupancy trails the metro average and safety benchmarks are below national medians, proximity to major employers and competitive grocery access help underpin leasing, suggesting a focus on value-add amenities and expense control rather than outsized rent bets.
- 2012 vintage supports competitive positioning with manageable near-term capital planning
- High neighborhood renter concentration and above-metro rents point to depth of tenant demand (neighborhood-level)
- 3-mile household and income growth expand the renter pool, aiding occupancy stability
- Nearby corporate employment nodes support leasing velocity and retention
- Risks: neighborhood safety below national median and occupancy below metro average require disciplined leasing and security planning