| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 76th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19516 Smith Cir, Cornelius, NC, 28031, US |
| Region / Metro | Cornelius |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2013-08-06 |
| Transaction Price | $550,000 |
| Buyer | CORNELIUS GARDENS LLC |
| Seller | AHLUWALIA DHEERAJ |
19516 Smith Cir Cornelius Multifamily Value-Add Investment
Neighborhood occupancy is steady and renter concentration supports demand, according to WDSuite’s CRE market data.
Positioned in Cornelius within the Charlotte metro, the neighborhood rates an A and ranks above the metro median (64 of 709 neighborhoods), indicating competitive fundamentals for multifamily. The local school environment is a clear strength, with average ratings in the top quartile nationally, which can support retention and leasing velocity for family-oriented renters.
Amenity access skews toward daily conveniences and dining: cafes and pharmacies score competitively among metro neighborhoods, and restaurants are ample relative to peers. In-neighborhood grocery and park counts are limited, so residents often rely on nearby corridors for those needs—an underwriting note for marketing and tenant retention strategies.
Neighborhood-level occupancy trends are healthy and above the national median, and the share of renter-occupied housing units is also above national norms. Median contract rents in the neighborhood sit around the national mid-range, helping balance absorption with manageable affordability pressure and supporting lease stability.
Within a 3-mile radius, population and household counts have expanded over the past five years, with further growth projected. Smaller average household sizes and a meaningful share of higher-income households point to a diversified renter pool that can support a range of unit types and price points. Elevated home values for the area reinforce reliance on multifamily rentals, which can support pricing power and reduce turnover risk for well-managed assets.
Safety indicators are mixed. Compared with neighborhoods nationwide, overall crime metrics sit below the national median (around the 25th percentile), while property-related measures trend closer to mid-range and violent incident measures track below the national median. Recent year-over-year changes point to volatility in estimated violent incidents, so ongoing monitoring and community-safety engagement should be part of asset management.
At the metro level, the area is competitive with many inner-suburban locations but is not among the top safety performers. Practical mitigants for owners may include lighting, access control, and resident programming tied to local law-enforcement and neighborhood groups, balanced against expected operating returns.
The location draws on a broad employment base spanning HQs and major corporate offices, supporting renter demand through commute convenience and diversified industries. Notable nearby employers include Lowe's, Duke Energy, Merck, Sysco, and Bank of America Corp.
- Lowe's — home improvement HQ (4.2 miles) — HQ
- Duke Energy — utilities corporate office (10.1 miles)
- Merck — pharmaceuticals office (11.7 miles)
- Sysco — foodservice distribution offices (12.8 miles)
- Bank of America Corp. — financial services (17.6 miles) — HQ
19516 Smith Cir offers a value-add angle in a neighborhood that performs above the metro median on overall fundamentals. The 1979 vintage is older than the area’s average construction year, which suggests opportunities to modernize interiors and systems to enhance rent positioning and reduce capex uncertainty over the hold. According to CRE market data from WDSuite, neighborhood occupancy is solid and the share of renter-occupied units tracks above national norms, while strong school ratings and a diversified amenity set provide additional support for retention.
Within a 3-mile radius, recent and projected increases in population and households point to a larger tenant base over time. Elevated ownership costs relative to incomes in the area help sustain reliance on rental housing, which can support pricing power for well-amenitized assets. Key watch items include limited in-neighborhood groceries and parks and variable safety trends, which call for targeted asset management and marketing.
- Older 1979 vintage enables renovation and repositioning potential versus newer competitive stock
- Solid neighborhood occupancy and above-median renter concentration support demand durability
- Strong school ratings and proximate amenities aid leasing velocity and retention
- Expanding 3-mile population and households indicate a growing renter pool
- Risks: limited in-neighborhood groceries/parks and mixed safety trends require proactive management