| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 60th | Good |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Virginia St SE, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 1974 |
| Units | 58 |
| Transaction Date | 1988-05-01 |
| Transaction Price | $1,000,000 |
| Buyer | WOLDEGIORGIS FESAHAIE |
| Seller | WASHINGTON SQUARE ASSOCIATES LTD PARTNER |
200 Virginia St SE, Concord Multifamily Value-Add
Neighborhood occupancy trends sit above the metro median, supporting steady leasing fundamentals, according to WDSuite s CRE market data.
Located in suburban Concord within the Charlotte-Concord-Gastonia metro, the area offers a generally stable renter base and broad regional connectivity. While immediate retail, grocery, and cafe density is limited, park access ranks in the top quartile nationally, which helps livability for residents seeking green space and recreation.
Home values in the neighborhood trend above national medians, and rent-to-income levels benchmark favorably (higher national percentile), which can reinforce lease retention and measured pricing power rather than rapid turnover. The neighborhood s occupancy level is above the metro median among 709 metro neighborhoods, an indicator of resiliency in tenant demand during typical leasing cycles.
Within a 3-mile radius, demographics point to a larger tenant base over the next cycle: population is projected to expand by the middle of the teens percent and households by over forty percent by 2028, with median household incomes also trending higher. This combination suggests a deeper renter pool and support for occupancy stability as new households enter the market.
Tenure data within 3 miles shows a renter-occupied share around one-third of housing units, indicating meaningful depth for multifamily demand while still competing with ownership options. Given the limited neighborhood retail footprint, residents often draw amenities from nearby corridors in Concord and the broader Charlotte metro, which can be a consideration for marketing and resident services.
Safety metrics benchmark near the metro middle, with conditions broadly comparable to many Charlotte-area neighborhoods. Nationally, the area sits around average when compared to neighborhoods across the country.
Recent trends are mixed: violent offenses show notable year-over-year improvement (top quintile nationally), which supports perceptions of stability, while property offenses increased over the past year and merit ongoing monitoring and standard asset-level security measures. Investors should underwrite to current trends and revisit assumptions regularly as conditions evolve.
Proximity to regional employers supports a diversified workforce renter base and commute convenience, notably in foodservice distribution, pharmaceuticals, home improvement retail, banking, and utilities.
- Sysco foodservice distribution (4.5 miles)
- Merck pharmaceuticals (11.95 miles)
- Lowe's home improvement retail (18.23 miles) HQ
- Bank of America Corp. banking (19.58 miles) HQ
- Duke Energy utilities (19.98 miles) HQ
200 Virginia St SE is a 58-unit, 1974-vintage community positioned for durable occupancy and pragmatic value-add. The neighborhood s occupancy performance screens above the metro median, pointing to resilient renter demand, and within a 3-mile radius both population and household counts are projected to rise meaningfully by 2028 expanding the tenant base and supporting leasing stability. Based on CRE market data from WDSuite, local rent-to-income benchmarks appear favorable, indicating manageable affordability pressure that can underpin retention.
The 1974 vintage suggests potential to unlock NOI through targeted renovations (interiors, common areas, and systems planning) while remaining competitive against older neighborhood stock. Limited immediate retail amenities and mixed safety trends warrant thoughtful resident experience programming and security budgeting, but proximity to a broad employer base in the Concord/Charlotte corridor offers demand depth across economic cycles.
- Above-metro occupancy supports stable leasing and cash flow durability
- 3-mile population and household growth expand the renter pool through 2028
- 1974 vintage offers value-add and capex-driven NOI upside
- Employer proximity across distribution, pharma, banking, and utilities reinforces demand
- Risks: limited immediate amenities and recent property offense uptick require active management