| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 55th | Good |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10830 Lawyers Glen Dr, Mint Hill, NC, 28227, US |
| Region / Metro | Mint Hill |
| Year of Construction | 1997 |
| Units | 46 |
| Transaction Date | 2015-01-02 |
| Transaction Price | $7,000,000 |
| Buyer | LG SOP1, LLC |
| Seller | Elliottes Enterprise |
10830 Lawyers Glen Dr Mint Hill Multifamily Investment
Neighborhood occupancy is steady and renter demand is supported by a high-cost ownership market in Mint Hill, according to WDSuite’s CRE market data. These trends point to stable leasing dynamics at the neighborhood level rather than the property itself.
Located in suburban Mint Hill within the Charlotte-Concord-Gastonia metro, the neighborhood is rated B+ and is competitive among 709 metro neighborhoods (ranked 209th). Grocery and pharmacy access test well versus national benchmarks (both around the 80th percentile), while restaurants are solid and parks, cafes, and childcare options are comparatively limited. For investors, this mix supports day-to-day convenience but with fewer lifestyle amenities that typically drive premium rent positioning.
The area’s housing stock skews newer than many peer locations, and this asset’s 1997 vintage positions it as relatively competitive versus older supply. Investors should still plan for selective modernization and systems updates typical of late-1990s construction to protect rentability and reduce near-term CapEx uncertainty.
Renter-occupied units account for roughly a quarter of neighborhood housing, indicating a primarily owner-occupied area with a moderate depth of tenant base. This composition can underpin stability, though lease-up may rely on targeted demand drivers and competitive positioning against for-sale housing.
Demographic indicators are aggregated within a 3-mile radius. Households have ticked up recently and are projected to grow further through 2028, pointing to a gradually expanding tenant base. Median household incomes are strong locally, and elevated home values relative to incomes reinforce sustained reliance on multifamily rentals, supporting occupancy and pricing power where product and operations are competitive.
School ratings in the neighborhood test below national norms (around the lower quintile), which may temper appeal for family renters seeking top-rated districts. However, neighborhood NOI per unit performance trends rank in the top decile nationally, suggesting comparable assets have achieved solid income fundamentals historically at the neighborhood level.
Comparable, property-level crime statistics are not available in WDSuite for this neighborhood. Investors typically benchmark safety using broader city and submarket trends and on-the-ground diligence over time to understand conditions relevant to resident retention and leasing.
Proximity to Charlotte’s headquarters and major corporate offices supports commuter convenience and contributes to renter demand and retention. Nearby employers include Sonic Automotive, Nucor, Bank of America, Duke Energy, and Cisco Systems.
- Sonic Automotive — corporate offices (7.5 miles) — HQ
- Nucor — corporate offices (9.7 miles) — HQ
- Bank of America Corp. — corporate offices (10.7 miles) — HQ
- Duke Energy — corporate offices (10.9 miles) — HQ
- Cisco Systems — corporate offices (11.3 miles)
This 46-unit asset built in 1997 sits in a suburban neighborhood that is competitive within the Charlotte metro. According to CRE market data from WDSuite, neighborhood occupancy is steady and the ownership market remains high-cost relative to incomes, both of which support renter reliance on multifamily housing. The vintage offers a balanced profile: competitive against older product while still presenting opportunities for targeted value-add and building systems upgrades.
Within a 3-mile radius, household counts are expanding and are projected to continue growing, indicating a gradually widening tenant base. Corporate employment access to Charlotte’s headquarters cluster underpins commute-oriented demand. Key risks include a smaller renter pool in a predominantly owner-occupied area and below-average school ratings that may limit appeal to some family renters; execution should emphasize operational efficiency, finishes, and service levels to sustain occupancy and retention.
- 1997 vintage with light-to-moderate modernization potential supports competitive positioning
- Neighborhood occupancy stability and high-cost ownership landscape support multifamily demand
- Expanding 3-mile household base and access to Charlotte HQ employers aid leasing durability
- Operational upside via targeted CapEx and resident experience in a convenience-oriented suburban setting
- Risks: smaller renter-occupied share and lower school ratings may narrow certain demand segments