| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 79th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19125 Chandlers Landing Dr, Cornelius, NC, 28031, US |
| Region / Metro | Cornelius |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2021-06-30 |
| Transaction Price | $63,500,000 |
| Buyer | NXRT VERANDAS LLC |
| Seller | WMCI CHARLOTTE X LLC |
19125 Chandlers Landing Dr, Cornelius NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the Charlotte metro, according to WDSuite’s CRE market data. The area’s high-cost ownership market and solid amenity access support retention and pricing discipline for stabilized operations.
Cornelius sits within the Charlotte-Concord-Gastonia metro and this Inner Suburb neighborhood scores an A with a neighborhood rank of 40 among 709 metro neighborhoods, indicating performance above the metro median. Amenity access is a contributor: cafes and restaurants rank 54 and 57 locally, translating to top-quintile availability nationally, while groceries rank 64 with similarly strong national placement. Park and pharmacy coverage are lighter in the immediate neighborhood, which may modestly temper walkable convenience.
Rents in the neighborhood sit in the upper tiers for the region (nationally around the mid-70s percentile) and have grown over the past five years, reinforcing traction for quality product. Neighborhood occupancy is 93.3% and ranks 307 of 709, positioning it above the metro median and suggesting relatively stable lease-up and renewal dynamics versus older or more peripheral submarkets.
Tenure data show a meaningful renter-occupied share of housing units at the neighborhood level, which signals a deep tenant base for multifamily assets and helps support leasing continuity. Home values are elevated for the area (around the 80th percentile nationally), and the value-to-income ratio is also high, indicating a high-cost ownership market that tends to sustain reliance on multifamily housing rather than drawing renters into for-sale options.
Within a 3-mile radius, demographics indicate recent population growth and an expanding household count, with projections pointing to further household increases even as average household size trends smaller. For investors, a larger number of households alongside rising incomes in the radius translates to a broader renter pool and supports occupancy stability. Contract rents in the 3-mile area are projected to rise from current levels over the next five years, which, if realized, would reinforce revenue growth potential for competitive assets.
The property’s 2005 vintage is newer than the neighborhood’s average construction year of 1999. That positioning can enhance competitiveness versus older stock, though investors should still plan for age-appropriate system updates or selective modernization to meet current renter preferences.
Safety indicators for the neighborhood are weaker than the metro average. The neighborhood’s composite crime rank is 583 out of 709 Charlotte-area neighborhoods, placing it in the lower tier locally, and its national safety standing is around the low 20s percentile. This suggests investors should underwrite security measures and tenant screening with care.
Breaking it out, violent offense metrics compare below the national midpoint (around the high-30s percentile), while property offense metrics are weaker (around the high-20s percentile nationally). Recent year-over-year trends indicate volatility, so prudent operators may consider enhanced lighting, access controls, and partnership with local community policing as part of asset management to support resident comfort and retention.
Proximity to major corporate employers supports a diverse white-collar employment base and commute convenience for residents. Key nearby nodes include Lowe’s, Duke Energy, Merck, Sysco, and Bank of America Corp., which together underpin steady renter demand and lease retention.
- Lowe's — corporate offices (5.4 miles) — HQ
- Duke Energy — corporate offices (8.9 miles)
- Merck — corporate offices (11.4 miles)
- Sysco — corporate offices (13.4 miles)
- Bank of America Corp. — corporate offices (16.7 miles) — HQ
This 2005-vintage asset benefits from a renter-oriented neighborhood with above-median occupancy for the Charlotte metro and strong amenity access, supporting stabilized operations and renewal capture. Elevated for-sale pricing in the area reinforces reliance on multifamily housing, while the neighborhood’s A rating and high national standing for amenities and education attainment signal durable location quality. According to CRE market data from WDSuite, neighborhood rents sit in upper national percentiles, and occupancy has improved over five years, both favorable indicators for cash flow consistency.
Within a 3-mile radius, recent population growth, rising household counts, and higher incomes expand the tenant base. Projections show household growth continuing even as household sizes trend smaller, which typically supports ongoing demand for rental units. While safety metrics are weaker than metro norms and park/pharmacy access is limited locally, targeted capital planning and professional management can mitigate these risks and position the property competitively against older stock.
- Above-median neighborhood occupancy and rent positioning support steady collections
- 2005 vintage offers relative competitiveness vs. older stock with selective modernization potential
- High-cost ownership market underpins deep renter pool and retention
- 3-mile radius shows rising households and incomes, reinforcing demand for rentals
- Risks: below-metro safety standing and lighter park/pharmacy access warrant proactive management