| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 Country Club Dr NE, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 1996 |
| Units | 21 |
| Transaction Date | 2004-04-13 |
| Transaction Price | $2,600,000 |
| Buyer | MELROSE CONDOS INC |
| Seller | OBERMEIER JUDITH L |
301 Country Club Dr NE, Concord Multifamily Investment
1996-vintage, 21-unit asset positioned for stable renter demand in a suburban Concord pocket, with relative competitiveness versus older neighborhood stock and proximity to major employers, according to WDSuite’s CRE market data.
This suburban neighborhood carries a B+ rating and ranks 248 among 709 Charlotte–Concord–Gastonia neighborhoods, placing it competitive within the metro. Compared with the metro’s older housing base, the 1996 construction year gives this property a more modern profile than the neighborhood’s average vintage (1981), which can support leasing against older product while still warranting selective system upgrades as the asset approaches three decades in service.
Local amenities are a relative strength: restaurants and pharmacies track above national medians, and cafes and grocery options are also solid for a suburban location. Park access is limited in this immediate area, so resident appeal will lean more on everyday conveniences and commute efficiency than recreation space.
Within a 3-mile radius, households have grown modestly in recent years and are projected to expand further, with forecasts pointing to a larger household base and smaller average household size by 2028. That shift typically broadens the renter pool and supports occupancy stability for smaller floor plans like the property’s average 576-square-foot units.
Tenure patterns within 3 miles show a meaningful renter-occupied share (roughly four in ten units), indicating a sizeable tenant base for multifamily operators. Neighborhood occupancy levels benchmark below the national median, suggesting leasing management and product differentiation matter; however, low rent-to-income levels in the area signal manageable affordability pressure that can aid retention.
Safety trends here compare favorably to many parts of the Charlotte metro, with the neighborhood’s crime rank positioned above the metro median among 709 neighborhoods. Nationally, the area sits below the middle of the pack, so investors should underwrite with conservative assumptions rather than top-tier safety premiums.
Recent year-over-year crime metrics show volatility in both property and violent offense estimates. A prudent approach is to monitor trend direction at the neighborhood level, emphasize on-site lighting and access controls, and coordinate with local resources to maintain leasing momentum without assuming outsized risk reductions.
The property sits within commuting reach of major employers that anchor regional jobs and support renter demand at workforce price points. Nearby employment nodes include food distribution, pharmaceuticals, home improvement retail HQ, and large financial and energy headquarters.
- Sysco — food distribution (3.3 miles)
- Merck — pharmaceuticals (12.2 miles)
- Lowe's — home improvement retail (15.7 miles) — HQ
- Bank of America Corp. — banking (20.4 miles) — HQ
- Duke Energy — energy (20.7 miles) — HQ
Built in 1996, this 21-unit property offers a newer-than-average vintage versus the surrounding neighborhood, supporting competitive positioning against older stock while leaving room for targeted capital plans as systems age. Within a 3-mile radius, households are expected to increase and average household size to trend smaller, which typically expands the renter pool for compact floor plans and supports occupancy stability over the next cycle.
Neighborhood fundamentals are mixed but workable: amenity access is solid, the renter-occupied share provides depth to demand, and rent-to-income levels suggest manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, neighborhood occupancy benchmarks below national medians, so execution depends on disciplined leasing, product differentiation, and expense control rather than assuming premium rent growth.
- 1996 vintage offers competitive positioning versus older neighborhood stock with selective value-add opportunity
- 3-mile household growth and smaller household sizes expand the future renter pool for smaller units
- Strong regional employer base within commuting range supports steady workforce housing demand
- Low rent-to-income levels in the area can support retention and limit turnover pressure
- Risk: neighborhood occupancy trends below national medians; underwriting should assume conservative lease-up and modest rent growth