| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 34th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 875 E Sunset Dr, Monroe, NC, 28112, US |
| Region / Metro | Monroe |
| Year of Construction | 1980 |
| Units | 120 |
| Transaction Date | 2000-12-27 |
| Transaction Price | $4,296,500 |
| Buyer | WILLOW GLEN ROCKFIELD LLC |
| Seller | WESTDALE WILLOW GLEN NC LLC |
875 E Sunset Dr Monroe Multifamily Investment Opportunity
Neighborhood occupancy trends are competitive among Charlotte metro neighborhoods, supporting stable renter demand, according to WDSuite s CRE market data. A sizable renter-occupied housing base in the neighborhood further underpins depth of the tenant pool.
Located in Monroe s inner-suburb fabric, the neighborhood scores a B- with occupancy performing above the metro median (ranked 233 of 709, top quartile nationally for occupancy stability). Median contract rents sit near the national middle, and the rent-to-income ratio indicates manageable affordability, which can aid retention and limit turnover risk for operators.
Within a 3-mile radius, recent demographic trends point to steady population growth and a larger household base, with projections indicating continued expansion over the next five years. This trajectory suggests ongoing renter pool expansion and support for occupancy stability as new households enter the market.
Ownership costs in the neighborhood are elevated relative to many areas nationwide (home values benchmark in the upper-third nationally; value-to-income among the upper quartile). For investors, a higher-cost ownership landscape often sustains multifamily demand and can provide pricing power when paired with income growth.
Local amenity density is mixed: pharmacies and groceries index above national midpoints, while cafes, parks, and restaurants are thinner. School ratings trend well below national norms, which may influence unit mix and marketing toward workforce and commuter segments rather than family-oriented positioning. Still, the neighborhood s renter concentration (renter-occupied share near half of housing units) signals healthy multifamily demand depth for this submarket.
Safety indicators for the neighborhood are below metro averages, with crime levels ranking in the less-favorable half among 709 Charlotte-area neighborhoods and landing in lower national percentiles. Violent offense measures are somewhat better than overall crime but still below national midpoints, while property offenses contribute meaningfully to the broader risk profile.
Recent year-over-year trends indicate an uptick in estimated property and violent offenses. Investors should factor this into underwriting through security planning, lighting and access controls, and partnership with local community resources, while monitoring whether trends revert toward metro norms over time.
Proximity to Charlotte s diversified employment base supports commuter demand, with access to corporate offices in automotive retail, steel, industrial gases, networking, and banking appearing within roughly 20 4 miles. This concentration can help stabilize leasing and reduce vacancy friction for workforce-oriented assets.
- Sonic Automotive automotive retail (20.5 miles) HQ
- Nucor steel (21.4 miles) HQ
- Airgas industrial gases (24.0 miles)
- Cisco Systems networking (24.7 miles)
- Bank of America Corp. banking (24.7 miles) HQ
This 120-unit asset in Monroe benefits from a neighborhood occupancy profile that is above the metro median and competitive within the Charlotte market. According to CRE market data from WDSuite, the area s renter concentration and manageable rent-to-income dynamics point to a durable tenant base and leasing stability, while elevated ownership costs in the neighborhood tend to reinforce reliance on rental housing.
Within a 3-mile radius, population and households have been growing and are projected to continue expanding, indicating a larger tenant base and support for sustained demand. Amenity density is uneven and school ratings are weak, but proximity to a diverse Charlotte employment core can help drive steady in-migration of renters seeking commute convenience and value relative to urban cores.
- Competitive neighborhood occupancy supports stable cash flow potential
- Renter-occupied share near half of units signals depth of tenant demand
- Elevated ownership costs favor sustained multifamily demand and pricing power
- 3-mile growth in population and households expands the renter pool
- Risks: thinner amenities, weak school ratings, and recent crime upticks warrant active management