| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 72nd | Best |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Hydrangea Cir NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2011-12-12 |
| Transaction Price | $35,100,000 |
| Buyer | WMCI CHARLOTTE XIII LLC |
| Seller | CRESCENT CONCORD VENTURE I LLC |
100 Hydrangea Cir NW Concord Multifamily Investment
Positioned in a high-income suburban pocket of Concord, the asset benefits from a growing renter base and durable demand drivers, according to WDSuite’s CRE market data. Neighborhood fundamentals suggest balanced pricing power with room for operational execution.
The property sits within an A-rated suburban neighborhood that ranks 58 out of 709 across the Charlotte–Concord–Gastonia metro—top quartile locally for overall quality. Neighborhood occupancy is measured at the neighborhood level, and while it trends moderate, household incomes are strong (96th percentile nationally) with low rent-to-income levels, supporting retention and steady leasing.
Daily convenience is competitive among Charlotte-area neighborhoods, with restaurants and cafes testing well above national norms (both in the 80th percentile range). Grocery access is also above average, and schools score near the top of the metro with an average rating around 4 of 5, aiding family-oriented renter appeal and lease stability.
Three-mile radius demographics indicate population growth of roughly 20% over the last five years and additional expansion forecast through 2028, with households projected to increase and average household size trending lower—signals of a larger, more diversified tenant base. Within this same 3-mile area, the renter-occupied share is expected to rise from about 39% currently to just over half by 2028, implying deeper multifamily demand and support for occupancy.
Rents in the immediate area are in the mid-$1,500s and have advanced meaningfully in recent years, with further increases forecast. Elevated home values (85th percentile nationally) create a high-cost ownership market, which tends to sustain reliance on rental options and can bolster pricing power for well-managed assets. These dynamics align with what investors seek during multifamily property research, as validated by CRE market data from WDSuite.
Safety indicators for the neighborhood are mixed and should be underwritten with care. Compared with neighborhoods nationwide, this area sits in lower safety percentiles (around the teens nationally) and ranks below many Charlotte metro neighborhoods (592 out of 709), indicating relatively higher crime exposure than stronger-performing submarkets.
Recent year estimates also point to increases in both property and violent incidents at the neighborhood level. While these are neighborhood aggregates rather than block-specific measures, investors should consider enhanced security, lighting, and resident engagement as part of risk management and retention strategy.
Proximity to major employers supports a broad workforce renter base and commute convenience. Nearby demand drivers include pharmaceuticals, food distribution, banking, utilities, and home improvement retail headquarters.
- Merck — pharmaceuticals (3.9 miles)
- Sysco — food distribution (5.0 miles)
- Bank of America Corp. — banking (12.4 miles) — HQ
- Duke Energy — utilities (12.7 miles) — HQ
- Lowe's — home improvement retail (13.6 miles) — HQ
This 24-unit asset is positioned in a top-quartile neighborhood for overall quality within the Charlotte–Concord–Gastonia metro, with high household incomes and a low rent-to-income profile that supports tenant retention. Three-mile demographics point to ongoing population growth and a rising renter share through 2028, expanding the local tenant base and supporting occupancy and rent durability. Elevated home values relative to incomes reinforce reliance on multifamily housing, while nearby corporate employment nodes provide steady leasing funnels.
Rents in the submarket have increased in recent years and are forecast to continue growing, while neighborhood-level occupancy reads as moderate—suggesting upside for well-executed operations, amenity programming, and leasing strategy. Based on commercial real estate analysis using WDSuite’s CRE market data, the balance of demand drivers and income depth offsets pockets of risk tied to neighborhood safety metrics and should be addressed through prudent underwriting and property-level security planning.
- Top-quartile neighborhood standing among 709 metro neighborhoods supports long-term renter appeal
- Expanding 3-mile renter pool and population growth underpin demand and occupancy stability
- High home values versus income reinforce rental reliance and pricing power potential
- Risk: below-median safety metrics at the neighborhood level warrant security planning and conservative underwriting