| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 79th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19110 Chandlers Landing Dr, Cornelius, NC, 28031, US |
| Region / Metro | Cornelius |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2007-06-20 |
| Transaction Price | $25,000,000 |
| Buyer | NXRT VERANDAS LLC |
| Seller | WMCI CHARLOTTE X LLC |
19110 Chandlers Landing Dr Cornelius Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand, with renter-occupied share ranking in the top quartile among 709 Charlotte metro neighborhoods, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood is above the metro median, supporting cash flow stability for a 2005-vintage asset.
This Inner Suburb pocket of Cornelius scores an A neighborhood rating and sits above the metro median for occupancy among 709 Charlotte neighborhoods, indicating steady leasing conditions at the neighborhood level. The property’s 2005 construction is newer than the area’s average 1999 vintage, which can position the asset more competitively versus older stock while still warranting selective system upgrades or common-area refreshes over a hold.
Daily-life amenities are a strength. Cafes, restaurants, groceries, and childcare density rank competitive to top quartile within the metro (e.g., grocery and restaurant density are competitive among Charlotte neighborhoods), and amenity access sits above the national median. While neighborhood park and pharmacy counts are limited, proximity to broader Lake Norman retail nodes helps support resident convenience, which can aid retention.
Tenure data shows a renter-occupied share in the top quartile among the 709 metro neighborhoods, signaling a deep local tenant base and reinforcing multifamily demand. In a high-cost ownership context — with neighborhood home values and value-to-income ratios above national medians — multifamily units serve households that prefer or rely on renting, supporting leasing velocity and pricing discipline.
Within a 3-mile radius, households and families have grown over the past five years and are projected to keep increasing even as average household size trends lower. Forecasts indicate more households by 2028 alongside modest population drift, which typically expands the renter pool and supports occupancy stability for well-located properties. Median contract rents in the area remain paired with strong incomes, and the current rent-to-income profile suggests manageable affordability pressure from an investor standpoint.
Neighborhood safety indicators are below the metro median and sit in lower national percentiles, meaning reported crime is higher than many Charlotte neighborhoods and above nationwide norms. Property offenses track weaker than national medians, and violent-offense measures are also below national averages, with a noted recent uptick in year-over-year estimates. Investors should underwrite prudent security measures and loss-prevention practices while monitoring trend direction relative to the broader region.
The area benefits from access to regional employers that support renter demand and commute convenience, including headquarters and major corporate offices in retail, energy, healthcare, and logistics noted below.
- Lowe's — retail HQ (5.5 miles) — HQ
- Duke Energy — energy offices (8.8 miles)
- Merck — life sciences (11.4 miles)
- Sysco — foodservice distribution (13.5 miles)
- Bank of America Corp. — financial services (16.7 miles) — HQ
This 24-unit, 2005-built asset aligns with neighborhood dynamics that favor renter demand. The surrounding Cornelius neighborhood ranks above the metro median for occupancy and has a top-quartile renter-occupied share among 709 Charlotte neighborhoods, indicating depth of the tenant base and potential for stable cash flows. Elevated ownership costs in the area help sustain multifamily reliance, and strong amenity access supports retention. According to CRE market data from WDSuite, these neighborhood-level signals are competitive within the metro and above national medians on several livability measures.
Forward-looking demographics within a 3-mile radius point to more households despite smaller average household sizes, which typically expands the renter pool. The property’s newer-than-average vintage versus the neighborhood (2005 vs. 1999 average) suggests relative competitiveness, with value-add opportunities available through targeted interior and common-area updates.
- Above-metro-median neighborhood occupancy supports leasing stability
- Top-quartile renter-occupied share indicates a deep tenant base
- High-cost ownership market reinforces multifamily demand and pricing discipline
- 2005 vintage offers competitive positioning with selective value-add potential
- Risks: neighborhood safety metrics trail metro and national norms; limited parks/pharmacy access warrants amenity and security planning