| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 58th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12701 Meadow Creek Ln, Pineville, NC, 28134, US |
| Region / Metro | Pineville |
| Year of Construction | 1984 |
| Units | 30 |
| Transaction Date | 2017-12-15 |
| Transaction Price | $28,000,000 |
| Buyer | LCF LLC |
| Seller | LANDMARK AT CHESTRFIELD LP |
12701 Meadow Creek Ln Pineville Multifamily Investment
Renter-occupied share in the neighborhood sits above the metro median, supporting a stable tenant base and steady leasing conditions, according to WDSuite’s CRE market data. The 1984 vintage positions the asset competitively versus older nearby stock while leaving room for targeted modernization.
Located in Pineville within the Charlotte metro’s inner suburbs, the property benefits from neighborhood fundamentals that are competitive among Charlotte-Concord-Gastonia neighborhoods (ranked 217 of 709, B+ rating). Neighborhood occupancy is around the middle of the pack (91.6%), while a higher renter-occupied share of housing units (44.3%) indicates depth in the local tenant base and supports multifamily demand.
Amenity access is mixed: park availability is a relative strength (top quartile nationally), and cafes score above many U.S. neighborhoods, while restaurants and pharmacies are thinner locally. Average school ratings are modestly above the national median (about 3.0 out of 5), which can aid family retention. Median contract rents in the neighborhood rank above the metro median (127 of 709), suggesting pricing power for well-positioned units.
Within a 3-mile radius, population and households have expanded in recent years, with further growth projected; this points to a larger tenant base over the medium term and supports occupancy stability. Household incomes in the 3-mile area skew higher than many inner-suburban submarkets, and ownership remains a high-cost option locally (value-to-income ratio sits in a higher national percentile), which tends to sustain reliance on multifamily rentals and can bolster lease retention.
Vintage context matters: the property’s 1984 construction is newer than the neighborhood average year built (1973; measured across 709 metro neighborhoods). That relative youth can help competitiveness versus older inventory, though investors should plan for ongoing system updates and selective renovations to meet current renter expectations.
Neighborhood safety indicators compare favorably. Overall crime ranks near the safer end within the metro (53 out of 709 Charlotte-area neighborhoods), and national comparisons place the area in a higher safety tier (around the upper quartiles). Violent and property offense measures both land in high national safety percentiles, reflecting comparatively lower incident rates than many U.S. neighborhoods.
Recent trend signals are constructive: estimated violent offense rates show a sharp year-over-year decline (top decile improvement nationally), and property offenses improved modestly over the past year. While conditions can vary by block and over time, the broader neighborhood trend supports renter confidence and leasing stability without relying on sensational claims.
Proximity to established employers underpins workforce housing demand and commute convenience for renters. Key nearby employers include Airgas, Nucor, Sonic Automotive, AmerisourceBergen Healthcare Consultants, and Cisco Systems.
- Airgas — industrial gases (6.3 miles)
- Nucor — steel manufacturing (6.4 miles) — HQ
- Sonic Automotive — auto retail (8.6 miles) — HQ
- AmerisourceBergen Healthcare Consultants — healthcare services (8.7 miles)
- Cisco Systems — networking technology (9.3 miles)
This 30-unit, 1984-vintage asset leverages a renter-heavy neighborhood profile and inner-suburban location to support durable demand. Neighborhood rents benchmark above the metro median while occupancy trends sit around mid-pack, indicating room to capture upside through targeted renovations and disciplined lease management. According to CRE market data from WDSuite, the area’s amenity mix, competitive neighborhood ranking (217 of 709), and strong national safety percentiles collectively support retention and steady performance.
Forward-looking fundamentals are constructive: within a 3-mile radius, population and households are projected to expand, enlarging the tenant pool and supporting occupancy stability. The property’s newer-than-area-average vintage offers relative competitiveness against older stock, while ongoing modernization can position units to benefit from sustained renter demand and ownership costs that encourage continued reliance on multifamily housing.
- Renter-occupied share above metro median supports depth of demand and leasing durability.
- Neighborhood rents above metro median create potential for operational and renovation-driven upside.
- 1984 vintage is newer than local averages, aiding competitive positioning with targeted updates.
- 3-mile population and household growth expands the renter pool and supports occupancy stability.
- Risks: mid-1980s systems may require capital planning; thinner restaurant/pharmacy presence could affect some renter preferences.