| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 63rd | Good |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5915 Oak Dr, Mint Hill, NC, 28227, US |
| Region / Metro | Mint Hill |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2021-02-25 |
| Transaction Price | $60,225,000 |
| Buyer | WEST MINT GARDENS LP |
| Seller | AGM GREYSTONE LLC |
5915 Oak Dr, Mint Hill NC — 24-Unit Suburban Multifamily
B+ suburban location with occupancy above the metro median and moderate rent-to-income dynamics points to steady renter demand, according to WDSuite’s CRE market data.
The property sits in a suburban Mint Hill neighborhood rated B+ and ranked 186 out of 709 within the Charlotte metro — competitive among Charlotte-Concord-Gastonia neighborhoods. Neighborhood occupancy averages 93.1% and trends higher over five years, suggesting stable leasing conditions relative to the metro median based on WDSuite’s data.
Demographic statistics aggregated within a 3-mile radius indicate a renter-occupied share of housing units at roughly the mid-40% range today with projections approaching one-half by the forecast period, implying a deeper tenant base and support for occupancy stability even as household sizes edge lower. Households are expected to grow while population is relatively flat, which typically expands the renter pool and underpins consistent multifamily absorption.
Local living fundamentals are balanced: grocery access scores above national midline while parks are stronger than average for similar suburbs. Cafe density and pharmacies are limited within the immediate neighborhood, so residents may rely on nearby corridors. Average school ratings sit near the metro middle, which tends to support broad-based family demand without commanding premium pricing.
Ownership costs in the area are elevated versus national norms, and the value-to-income profile suggests a high-cost ownership market for many households. That backdrop, combined with a neighborhood median rent positioned near the national upper-middle range and rent-to-income near 0.18, supports lease retention and measured pricing power rather than outsized spikes, which is favorable for long-run cash flow management.
Safety indicators for the neighborhood are mixed but broadly comparable to regional peers. The area’s crime rank is 261 out of 709 metro neighborhoods — competitive among Charlotte neighborhoods — and national placement sits near the midline. Property offense levels benchmark stronger than many neighborhoods nationwide, while violent offense readings are weaker than the national middle but improved year over year, reflecting a modest positive trend. As always, investors should evaluate property-level security practices and sub-block nuances as part of diligence.
Proximity to major corporate headquarters and regional offices supports commuter demand and leasing durability. Nearby employers include Sonic Automotive, Nucor, Bank of America, Duke Energy, and Cisco Systems — all within a roughly 10-mile commute.
- Sonic Automotive — corporate offices (5.1 miles) — HQ
- Nucor — corporate offices (7.3 miles) — HQ
- Bank of America Corp. — corporate offices (8.4 miles) — HQ
- Duke Energy — corporate offices (8.7 miles) — HQ
- Cisco Systems — corporate offices (9.0 miles)
Built in 1999, the asset is newer than the neighborhood’s average vintage, offering competitive positioning against older local stock while leaving room for targeted system updates or light modernization to sustain performance. Neighborhood occupancy sits above the metro median with a five-year upward trend, and 3-mile demographics point to increasing households and a rising share of renter-occupied units — a backdrop that supports tenant base depth and stable renewals.
Home values are elevated relative to incomes in the area, which tends to reinforce reliance on multifamily rentals and measured pricing power. According to WDSuite’s commercial real estate analysis, neighborhood rents sit in the national upper-middle range with moderate rent-to-income, aligning with steady, rather than speculative, revenue growth expectations. Key watch items include modest amenity density in the immediate vicinity and safety metrics hovering near national midline, both manageable with appropriate asset and operations strategies.
- 1999 vintage versus older neighborhood stock — competitive now with potential value-add via selective modernization
- Occupancy above metro median and five-year improvement support leasing stability
- 3-mile area shows growing households and rising renter concentration, expanding the tenant base
- Elevated ownership costs and moderate rent-to-income bolster retention and pricing discipline
- Risks: thinner immediate amenity mix and safety near national midline require active management