| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 24th | Poor |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Bishop Ln, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 1984 |
| Units | 50 |
| Transaction Date | 1984-02-01 |
| Transaction Price | $110,000 |
| Buyer | METHODIST-EPISCOPAL HOUSING |
| Seller | --- |
200 Bishop Ln, Concord NC Multifamily Opportunity
Neighborhood renter-occupied share and steady occupancy suggest a durable tenant base; according to WDSuite’s CRE market data, conditions in this inner suburb have supported consistent leasing performance relative to the metro.
Situated in Concord’s Inner Suburb, the neighborhood carries a B+ rating and ranks 252 out of 709 Charlotte-Concord-Gastonia neighborhoods, indicating performance above the metro median. Grocery access is a relative strength (ranked 28 of 709; 92nd percentile nationally), with supportive cafe and restaurant density that adds daily convenience for residents. Pharmacy access is thin within the immediate area, which may modestly affect errand convenience.
Multifamily fundamentals are stable: neighborhood occupancy is above the metro median (ranked 344 of 709) and slightly above the national midpoint, pointing to resilient demand and manageable lease-up risk for a 50-unit asset. The share of housing units that are renter-occupied is high for the metro (ranked 94 of 709) and in the top quartile nationally, implying a deep renter pool and potential support for occupancy stability.
Within a 3-mile radius, recent trends show a slight population dip alongside a small increase in household counts, signaling smaller household sizes and ongoing demand for rental options. Forward-looking projections through 2028 indicate population and household growth, which would expand the local tenant base and support absorption if realized. Median home values are elevated relative to incomes (nationally high value-to-income ratio), reinforcing reliance on rental housing, while rent-to-income levels remain comparatively manageable—supportive of retention and lease stability.
The asset’s 1984 vintage is slightly older than the area’s average construction year (1987), suggesting attention to capital planning and selective renovations could enhance competitiveness versus newer product while preserving operational efficiency.
Safety indicators are mixed when viewed against regional and national benchmarks. Overall crime ranks 545 out of 709 Charlotte-Concord-Gastonia neighborhoods, indicating below-average safety relative to the metro. Nationally, the neighborhood sits in the lower quartiles for property offense rates, while violent offense metrics trend closer to mid-percentiles, suggesting risk varies by category. Investors should prioritize property-level security measures and monitor trend direction alongside comparable submarkets.
As with any single-neighborhood read, these figures reflect broader area conditions rather than this specific property. Ongoing tracking of police-reported trends, resident feedback, and capital plans (lighting, access control, and visibility) can help support leasing and retention.
Proximity to established employers supports workforce housing dynamics and commute convenience for renters, notably in food distribution, pharmaceuticals, retail headquarters, and financial services. The following nearby employers anchor regional demand and can aid leasing stability for this location.
- Sysco — food distribution (3.5 miles)
- Merck — pharmaceuticals (12.4 miles)
- Lowe's — retail HQ (15.4 miles) — HQ
- Bank of America Corp. — financial services (20.7 miles) — HQ
- Duke Energy — utilities (21.0 miles) — HQ
200 Bishop Ln offers investors a 50-unit, 1984-vintage asset in an Inner Suburb location where renter concentration is high and occupancy trends run above the metro median. Amenity access—particularly grocery—supports daily living needs, and proximity to major employers underpins a steady workforce tenant base. Elevated ownership costs relative to incomes reinforce reliance on multifamily, while rent-to-income levels remain comparatively manageable, supporting retention and pricing discipline.
According to CRE market data from WDSuite, neighborhood fundamentals are broadly stable with room for operational upside via targeted upgrades typical for early-1980s construction. Near-term focus should be on security and resident experience to mitigate mixed safety readings, while forward demographic projections within a 3-mile radius point to an expanding renter pool that can support occupancy and rent growth if realized.
- High renter-occupied share and above-metro occupancy support demand depth and leasing stability
- 1984 vintage presents value-add potential through system upgrades and unit/interior refreshes
- Strong grocery access and proximity to major employers bolster workforce appeal
- Ownership costs elevated relative to incomes, sustaining reliance on multifamily while rent-to-income remains manageable
- Risks: mixed safety metrics and thin pharmacy access warrant property-level measures and active monitoring