| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 51st | Fair |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 Branchview Dr NE, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 2008 |
| Units | 121 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
240 Branchview Dr NE, Concord Multifamily Investment
2008-built, 121-unit asset positioned in an amenity-rich inner suburb with durable renter demand supported by nearby employers, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the Charlotte–Concord–Gastonia metro with an A-rated neighborhood profile (ranked 106 out of 709 metro neighborhoods). Amenity access is a clear strength: cafes, groceries, parks, pharmacies, and restaurants score in the top quartile nationally, supporting day-to-day convenience and leasing appeal for working households.
Relative to the metro, the neighborhood’s income and housing indicators are mixed. Elevated neighborhood NOI per unit performance ranks 4th out of 709, signaling strong revenue potential compared with peers, while neighborhood occupancy conditions trail national norms, suggesting investors should underwrite conservative lease-up and renewal assumptions and emphasize tenant retention initiatives.
Tenure patterns indicate depth for rentals: the neighborhood’s renter-occupied share is competitive nationally (70th percentile), and within a 3-mile radius, renters account for an estimated ~40% of housing units. This renter concentration supports a stable tenant base for multifamily, especially for well-located, professionally managed assets.
Within a 3-mile radius, recent population and household counts have softened modestly, but projections point to a meaningful rebound by 2028 with increases in population and households that expand the renter pool. Rising median incomes and forecast rent growth in the same radius point to manageable affordability pressure that can support occupancy stability and measured pricing power rather than outsized rent spikes.
Ownership costs in the neighborhood remain relatively accessible in regional context, which can create some competition from entry-level ownership. For multifamily operators, this typically translates into a focus on value, convenience, and amenities to sustain lease retention, rather than relying solely on price.
Safety indicators for the neighborhood are below metro and national averages (ranked 575 out of 709 metro neighborhoods; national percentiles generally in the lower range), so prudent investors should factor in reputation management and on-site security best practices appropriate for the submarket. Recent year data indicate an uptick in reported offense rates; monitoring trend direction and incorporating preventative measures can help protect leasing and retention.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, including Sysco, Merck, Lowe's, Bank of America, and Duke Energy.
- Sysco — foodservice distribution (4.3 miles)
- Merck — pharmaceuticals (12.4 miles)
- Lowe's — home improvement retail (17.6 miles) — HQ
- Bank of America Corp. — financial services (20.2 miles) — HQ
- Duke Energy — utilities (20.6 miles) — HQ
Built in 2008—newer than much of the surrounding housing stock—the property is competitively positioned versus older inventory, reducing near-term capital exposure while still offering selective value-add or modernization opportunities. Amenity density and proximity to regional employers underpin day-to-day livability, and the neighborhood’s strong NOI performance (4th of 709 metro neighborhoods) suggests a supportive revenue environment even as local occupancy conditions warrant conservative underwriting.
Within a 3-mile radius, projections indicate population growth and a notable increase in households by 2028, expanding the tenant base and supporting lease-up and renewal prospects; according to CRE market data from WDSuite, forecast rent levels and rising incomes point to manageable affordability pressure that favors steady absorption and retention rather than over-reliance on aggressive rent lifts.
- 2008 vintage offers competitive positioning versus older stock with targeted value-add potential
- Amenity-rich Inner Suburb location supports leasing appeal and daily convenience
- Strong neighborhood NOI performance (4th of 709) indicates favorable revenue fundamentals
- 3-mile projections show population and household growth, expanding the renter pool and supporting occupancy stability
- Risks: below-average neighborhood safety and softer occupancy metrics warrant conservative lease and retention assumptions