| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 73rd | Best |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 831 Beaty St, Davidson, NC, 28036, US |
| Region / Metro | Davidson |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2007-07-26 |
| Transaction Price | $3,200,000 |
| Buyer | COMMUNITY HOUSING PARTNERS CORP |
| Seller | OAKHILL ASSOCIATES LP |
831 Beaty St, Davidson NC Multifamily Investment
Strong suburban fundamentals and high-income households suggest resilient renter demand and retention, according to WDSuite’s CRE market data. Neighborhood occupancy figures reflect broader area dynamics rather than property performance.
Davidson’s neighborhood scores as an A and ranks 49 out of 709 Charlotte metro neighborhoods, placing it in the top quartile locally. Amenity access is a relative strength (amenity rank 31 of 709; top-tier nationally by percentile), with a mix of restaurants, parks, pharmacies, and everyday retail that supports daily convenience and leasing appeal.
Schools are a notable draw: the neighborhood’s average school rating sits at the top of the metro (rank 1 of 709) and in the 100th percentile nationally. For multifamily owners, high-performing schools can support family-oriented renter demand and longer tenancy horizons.
Within a 3-mile radius, population and household counts have expanded over the past five years, and forecasts point to continued growth over the next five. A renter-occupied share around the mid-30s within this radius indicates a meaningful renter base, with household income levels that are high for the region. Elevated home values at the neighborhood level (nationally high percentile) reinforce reliance on rental options, which can support lease retention and pricing power.
Neighborhood occupancy is below the metro median (rank 559 of 709; lower national percentile), signaling competitive supply in the broader area and the need for active leasing and renewal management. Median contract rents sit above the U.S. midpoint by percentile while the neighborhood’s rent-to-income ratio is relatively low, which can reduce affordability pressure and support collections. The asset’s 1974 vintage is older than the neighborhood’s average construction year (1991), suggesting potential value-add through renovations and the need for thoughtful capital planning on systems and interiors.
Safety conditions compare favorably to national benchmarks: the neighborhood’s violent and property offense rates are in high national percentiles (safer than most areas nationwide). At the metro level, this places the area above the Charlotte median for comparative safety.
Recent trends are mixed. While violent incidents show a stable-to-improving trajectory year over year, property-related incidents have moved higher. Investors should monitor these trends, coordinate with local security best practices, and incorporate lighting, access control, and resident engagement into operations as warranted.
Proximity to major corporate employers supports a diversified renter base and commute convenience. Key nearby drivers include Lowe’s, Duke Energy, Sysco, Merck, and Bank of America.
- Lowe’s — corporate HQ (2.3 miles) — HQ
- Duke Energy — utilities offices (12.1 miles)
- Sysco — food distribution offices (12.3 miles)
- Merck — pharmaceutical offices (13.0 miles)
- Bank of America Corp. — financial services (19.5 miles) — HQ
This 24-unit, 1974-vintage property benefits from Davidson’s top-quartile standing among 709 Charlotte metro neighborhoods and nationally strong school quality. High neighborhood home values and a low rent-to-income ratio by percentile point to sustained reliance on rental housing and potential retention advantages. Based on CRE market data from WDSuite, occupancy in the neighborhood sits below the metro median, so effective leasing strategy and renewals remain central to performance.
The asset’s older vintage relative to the local construction average (1991) presents a clear value-add path through targeted renovations and systems upgrades, while proximity to major employers broadens the tenant pool. Demographic growth within a 3-mile radius expands the renter base over time, supporting occupancy stability and revenue durability against regional competition.
- Top-quartile neighborhood in Charlotte with nationally strong school ratings
- High home values and low rent-to-income ratio support tenant retention
- 1974 vintage offers value-add potential via interior and systems upgrades
- Access to major employers expands the renter pool and supports leasing
- Risks: neighborhood occupancy below metro median and recent uptick in property-related incidents warrant active asset management