| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 46th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Heatherwood Ct NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2020-09-29 |
| Transaction Price | $7,000,000 |
| Buyer | PC NC CRESTVIEW HUNTINGTON LLC |
| Seller | BMA HEATHERWOOD KENSINGTON APT LLC |
100 Heatherwood Ct NW Concord Multifamily Investment
Neighborhood renter concentration is elevated and supported by regional employment, suggesting a deep tenant base, according to WDSuite’s CRE market data. While occupancy across the neighborhood has softened recently, consistent amenities and access to major employers can help underpin leasing stability.
Situated in Concord’s inner suburbs of the Charlotte metro, the property benefits from everyday convenience. Amenity access ranks in the top quartile among 709 metro neighborhoods, with cafes and pharmacies comparatively dense for the area, and grocery options competitive among Charlotte neighborhoods. Park access is limited, which may modestly affect lifestyle appeal but does not typically drive leasing outcomes for workforce-oriented assets.
Neighborhood schools average around 3.0 out of 5 and place in the top quartile among 709 metro neighborhoods, a supportive factor for retention among family renters. Median contract rents in the neighborhood sit near the national middle, which helps balance pricing power with retention prospects. The rent-to-income ratio trends on the lower side nationally, indicating less affordability pressure—useful for lease management and renewals.
Tenure patterns indicate a high share of renter-occupied housing units (neighborhood-level), supporting depth of demand for multifamily. However, the neighborhood’s current occupancy rate is below national norms and has eased over the past five years; investors should underwrite with conservative lease-up timelines and emphasize unit finishes and operations to compete effectively.
Within a 3-mile radius, demographics point to a stable-to-growing renter pool: population has edged higher in recent years, households increased, and projections call for notable population and household growth over the next five years. Smaller average household size is expected, which generally expands the number of households and can support multifamily demand. Median home values in the neighborhood are comparatively accessible within national context; this can introduce some competition from ownership, but it also keeps rental demand broad-based among households prioritizing flexibility.
Built in 1984, the asset is newer than the neighborhood’s average vintage (1976). That positioning can offer competitive appeal versus older stock while still warranting attention to aging systems and targeted updates to sustain rent competitiveness.
Safety indicators for the neighborhood trend below both metro and national averages. The area ranks 578 out of 709 Charlotte metro neighborhoods for crime, placing it below the metro median, and it sits in a lower national percentile for safety. Investors should account for this in leasing strategy and property management, emphasizing visibility, lighting, and coordination with residents to support on-site perception.
The employment base mixes nearby corporate offices and regional headquarters, supporting commuter convenience and steady renter demand. Key employers include Sysco, Merck, Lowe’s, Bank of America, and Duke Energy.
- Sysco — corporate offices (2.3 miles)
- Merck — pharmaceuticals (11.0 miles)
- Lowe's — home improvement retail (15.7 miles) — HQ
- Bank of America Corp. — financial services (19.1 miles) — HQ
- Duke Energy — utilities (19.5 miles) — HQ
100 Heatherwood Ct NW offers a 20-unit footprint with smaller average unit sizes, aligning with workforce and starter households that value attainable rents and proximity to jobs. Neighborhood renter concentration is high, and within a 3-mile radius, projections show population and household growth that should expand the tenant base and support occupancy stability. According to CRE market data from WDSuite, current neighborhood occupancy trends are softer, so execution will depend on competitive positioning and disciplined operations.
Constructed in 1984, the property is newer than much of the surrounding stock, providing a competitive edge versus older assets while still calling for targeted system updates and light value-add to drive rent premiums. Amenity access is comparatively strong across daily-needs retail and services, and proximity to regional employers underpins leasing durability. Ownership costs in the neighborhood are relatively accessible by national standards, which can create some competition with entry-level ownership, but also broadens the pool of renters prioritizing flexibility and location.
- High neighborhood renter-occupied share supports depth of demand
- 1984 vintage is newer than area average, with targeted upgrades offering value-add potential
- Amenity convenience and proximity to major employers bolster leasing durability
- Demographic projections within 3 miles indicate a larger tenant base over the next five years
- Risk: Neighborhood occupancy and safety trends warrant conservative underwriting and active management