| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 38th | Fair |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Summerlake Dr SW, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2021-02-23 |
| Transaction Price | $16,500,000 |
| Buyer | SUMMERLIN AT CONCORD M O OWNER LLC |
| Seller | EL AD SUMMERLIN AT CONCORD LLC |
100 Summerlake Dr SW, Concord NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand with a renter-occupied share above the metro median and occupancy trending below metro averages, according to WDSuite s CRE market data. For investors, that mix suggests depth in the tenant base with room to improve performance through asset and operations management.
Located in an inner suburb of the Charlotte-Concord-Gastonia metro, the area surrounding 100 Summerlake Dr SW offers a practical mix of livability and workforce access for multifamily renters. Grocery access is competitive among Charlotte-Concord-Gastonia neighborhoods (ranked 141 of 709), while restaurants, cafes, parks, and pharmacies are comparatively sparse, indicating a car-oriented setting that rewards on-site amenities and strong property management.
The property s 1985 vintage is newer than the neighborhood s average construction year (1973 across 709 neighborhoods), which can support competitive positioning versus older stock. Investors should still plan for targeted system updates and modernization to capture value-add upside typical for assets of this era.
Renter concentration in the neighborhood sits above the metro median (33.6% renter-occupied share; rank 243 of 709), pointing to a meaningful tenant base and stable leasing demand. Neighborhood occupancy trends run below both metro and national norms (rank 581 of 709; 33rd national percentile), so performance may depend more on property-level execution, pricing, and retention strategies than in tighter submarkets.
Within a 3-mile radius, demographics show population and household growth over the last five years, with projections calling for continued expansion through 2028, based on CRE market data from WDSuite. The forecast indicates a larger renter pool (renter share of housing units projected to rise) and higher household incomes, which can support rent levels and reduce turnover risk when paired with attentive asset management.
Home values in the neighborhood sit below the national midpoint, while median asking rents are modestly above the national midpoint. In practice, that mix suggests ownership remains relatively accessible in the area, so multifamily properties compete by offering convenience, quality, and management-driven value; affordability appears manageable for renters (neighborhood rent-to-income is near the lower national percentiles), supporting pricing power without outsized retention risk.
Safety indicators are mixed when viewed against metro and national context. The neighborhood ranks above the metro median for overall safety (crime rank 431 out of 709 neighborhoods), yet sits below the national midpoint overall (35th percentile nationally). For investors, that implies conditions that are workable with standard security, lighting, and access protocols rather than extraordinary measures.
Property crime compares favorably to many neighborhoods nationwide (around the top third by national percentile), and violent crime trends near the national midpoint. Recent year-over-year changes point to some upward movement in incident rates, so ongoing monitoring and coordination with property management policies is prudent to support tenant satisfaction and lease retention.
Proximity to major employers supports a broad workforce renter base and commute convenience for residents. Notable nearby employers include Sysco, Merck, Bank of America Corp., Sonic Automotive, and Duke Energy.
- Sysco distribution (5.9 miles)
- Merck pharmaceuticals (12.0 miles)
- Bank of America Corp. financial services (19.1 miles) HQ
- Sonic Automotive auto retail (19.3 miles) HQ
- Duke Energy utilities (19.5 miles) HQ
This 20-unit, 1985-vintage asset offers a practical foothold in an inner-suburban Concord location with a renter base above the metro median and occupancy that trails tighter submarkets. According to CRE market data from WDSuite, grocery access is competitive within the metro while broader amenity density is lighter, a setup that favors properties that deliver on-site convenience, reliable operations, and refreshed finishes to differentiate.
Demographics aggregated within a 3-mile radius indicate population and household growth with rising incomes and a projected increase in renter share, supporting demand depth and rent durability. Given the vintage, targeted capital projects (exteriors, unit interiors, and building systems) can unlock value and strengthen positioning versus older neighborhood stock, while asset management will be important to maintain occupancy and manage pricing in a market that is not at peak tightness.
- Renter-occupied share above metro median supports tenant base depth and leasing stability.
- 1985 construction offers relative competitiveness versus older neighborhood stock with value-add upside.
- 3-mile demographics show growth in population, households, and incomes, reinforcing long-term demand.
- Competitive grocery access within the metro; on-site features can offset lighter surrounding amenity density.
- Risk: Neighborhood occupancy and safety trends warrant close management focus on retention, security, and pricing discipline.