| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 91st | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 906 W 5th St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 2000 |
| Units | 32 |
| Transaction Date | 1998-11-02 |
| Transaction Price | $539,500 |
| Buyer | POST UPTOWN LLC |
| Seller | BASS ANN B |
906 W 5th St Charlotte 32-Unit Multifamily
Amenity-rich Urban Core location with a high renter-occupied share supports demand depth, while softer neighborhood occupancy suggests room for leasing upside, according to WDSuite’s CRE market data.
Located in Charlotte’s Urban Core, 906 W 5th St sits within one of the metro’s highest-performing neighborhoods (ranked 7th of 709). Daily convenience is a standout: the area ranks first of 709 for cafes and groceries and second for restaurants, with parks density ranking third. These amenity concentrations place the neighborhood in the top national percentiles for food, services, and open space — factors that typically aid leasing velocity and retention for well-managed multifamily assets.
Neighborhood rents benchmark toward the higher side of the local market (nationally around the 80th percentile), but the rent-to-income ratio trends near 0.18, indicating manageable affordability pressures from an investor perspective. Median home values trend elevated for the region, which can reinforce renter reliance on multifamily housing and support pricing power when paired with quality operations.
Tenure patterns point to durable multifamily demand: the neighborhood’s share of renter-occupied housing units is 54.9% (above most locales and in a high national percentile). While neighborhood occupancy is softer, investors often view this combination — deep renter pool and abundant amenities — as supportive for asset-specific leasing strategies and value positioning rather than a structural demand gap.
Within a 3-mile radius, demographics show population and household expansion alongside smaller average household sizes. Households increased meaningfully over the last five years and are projected to continue growing, suggesting a larger tenant base over time. Income profiles skew higher than many U.S. neighborhoods, which can support stabilized collections and the absorption of modernized units, based on CRE market data from WDSuite.
Construction year averages in the neighborhood cluster near the early 1990s. With a 2000 vintage, the property is somewhat newer than surrounding stock, which can offer a competitive edge versus older buildings, though investors should still plan for system modernization as the asset approaches its third decade.
Safety indicators for the surrounding neighborhood track below national comparisons. The area’s crime ranking sits in the lower tier of the metro (552 out of 709 neighborhoods), and national percentiles indicate weaker relative safety. Property offenses show a recent-year decline of 8.5%, while violent offenses ticked up by 2.6%, signaling mixed near-term trends.
For investors, this context suggests an emphasis on professional onsite management, lighting and access controls, and resident engagement to support retention. Monitoring local policy initiatives and neighborhood improvement projects may also help frame forward-looking risk assessments.
Proximity to major employers anchors the renter base, with finance, energy, and technology roles concentrated nearby — a pattern that typically supports leasing stability and commute convenience for workforce and professional tenants.
- Bank of America Corp. — banking & financial services (0.8 miles) — HQ
- Duke Energy — utilities & energy (0.8 miles) — HQ
- Cisco Systems — technology offices (1.8 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (4.5 miles)
- Airgas — industrial gases & distribution (5.0 miles)
This 32-unit asset benefits from a prime Urban Core location where amenity density is among the strongest in the Charlotte metro, supporting tenant retention and day-to-day convenience. The neighborhood skews renter-heavy with a high national percentile for renter-occupied share, indicating depth in the tenant base. Although neighborhood occupancy trends are softer, the combination of demand drivers and management execution can create opportunities to capture leasing upside and stabilize at competitive levels. The property’s 2000 construction is newer than much of the nearby stock, offering relative competitiveness versus earlier-vintage assets, though prudent capital planning for aging systems remains advisable.
Within a 3-mile radius, population and household growth, alongside higher-income profiles, point to ongoing renter pool expansion and support for renovated-unit absorption. Elevated ownership costs in the area tend to reinforce multifamily demand rather than diverting prospects to for-sale options. According to CRE market data from WDSuite, neighborhood rents benchmark on the higher end while rent-to-income metrics remain manageable, suggesting room for thoughtful pricing without overextending affordability.
- Amenity-rich Urban Core setting supports retention and leasing velocity.
- High renter-occupied share indicates a deep, sustainable tenant base.
- 2000 vintage offers competitive positioning versus older neighborhood stock.
- Demographic growth within 3 miles supports long-run demand and renovated-unit absorption.
- Risks: softer neighborhood occupancy and below-average safety require active management and targeted capital plans.