| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 46th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1415 Fairington Dr NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2012 |
| Units | 66 |
| Transaction Date | 2012-01-03 |
| Transaction Price | $660,000 |
| Buyer | BROOKE POINTE MANOR LLC |
| Seller | ELLIS GARY D |
1415 Fairington Dr NW Concord Multifamily Investment Potential
Neighborhood renter concentration is elevated while occupancy has softened, suggesting depth of tenant demand but the need for active leasing strategy, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb location of the Charlotte-Concord-Gastonia metro, with its neighborhood rated B+ and ranked 246 of 709 — competitive among Charlotte-Concord-Gastonia neighborhoods rather than a top-quartile pocket. Local occupancy for the neighborhood trends near the lower end of metro norms and has eased over five years, while the share of renter-occupied housing is high for the area, indicating a sizable tenant base for multifamily operators.
Amenity access is a relative strength: restaurants and cafes score above national norms (both in the upper half of national percentiles), and grocery and pharmacy availability also track favorably. Park access is limited within the neighborhood. Average school ratings sit modestly above the national middle, supporting appeal for households seeking more accessible rental options without premium pricing pressure.
Within a 3-mile radius, demographics indicate a growing renter pool: population and household counts have increased in recent years and are projected to expand meaningfully over the next five years, with smaller average household sizes pointing to more renters entering the market. Median household incomes in this radius are healthy and rising, and forecast rent levels suggest room for disciplined revenue growth if operators manage affordability and retention closely.
Home values in the neighborhood are relatively accessible compared with many national markets. That can introduce competition from ownership options, but it also supports steady leasing when positioned with the right finish level and amenities. For investors, the mix of strong renter concentration, amenity access, and household growth provides a constructive backdrop, though asset-level execution matters given neighborhood occupancy softness.
Safety indicators are mixed when viewed in context. The neighborhood s crime rank places it 578 out of 709 metro neighborhoods, which is below the metro median, and the overall safety standing is in the lower quintiles nationally. At the same time, property-related incidents align closer to the national midpoint, while violent-offense measures track below the national midpoint. Recent year-over-year changes point to an uptick in reported offenses, so investors should underwrite with conservative assumptions and monitor trendlines rather than block-level snapshots.
Nearby corporate offices provide a diversified employment base supporting commuter demand and leasing stability, including food distribution, pharmaceuticals, home improvement retail, banking, and utilities.
- Sysco food distribution (1.5 miles)
- Merck pharmaceuticals (10.4 miles)
- Lowe's home improvement retail (14.5 miles) HQ
- Bank of America Corp. banking (18.7 miles) HQ
- Duke Energy utilities (19.1 miles) HQ
Built in 2012, the asset is materially newer than the neighborhood s average 1970s-era stock, offering competitive positioning on unit quality and systems. The neighborhood shows softer occupancy, but a high share of renter-occupied housing and expanding households within a 3-mile radius support demand durability and leasing velocity. According to CRE market data from WDSuite, amenity access is solid relative to national norms, which helps retention when paired with effective management and targeted upgrades.
Home values in the neighborhood are comparatively accessible, which can create competition from entry-level ownership; underwriting should emphasize finish differentiation, operational discipline, and value-add that resonates with cost-conscious renters. With employers spanning food distribution, pharmaceuticals, banking, utilities, and regional HQ presence within 20 miles, the location benefits from a diversified commuter base that can stabilize occupancy across cycles.
- 2012 vintage offers a quality edge versus older neighborhood stock, with potential to command premiums through selective upgrades.
- High neighborhood renter concentration and projected household growth within 3 miles support a larger tenant base and lease-up resilience.
- Amenity access and proximity to diversified employers underpin demand and retention potential.
- Risk: neighborhood occupancy has softened; execution should prioritize leasing, renewals, and unit positioning to sustain NOI.
- Risk: safety metrics trail metro and national leaders; conservative underwriting and property-level security planning are prudent.