| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 60th | Good |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 340 Poplar Crossing Dr NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2013 |
| Units | 66 |
| Transaction Date | 2013-03-26 |
| Transaction Price | $660,000 |
| Buyer | POPLAR CROSSING COMMONS LLC |
| Seller | JOYCE P NEEDHAM LP |
340 Poplar Crossing Dr NW Concord Multifamily Investment
Strong ownership costs in the Concord–Cabarrus area continue to support renter demand, according to WDSuite’s CRE market data, positioning this asset for stable leasing relative to nearby alternatives.
Located in suburban Concord within the Charlotte–Concord–Gastonia metro, the neighborhood carries an A- rating and ranks 132 out of 709 metro neighborhoods, making it competitive among Charlotte–Concord–Gastonia neighborhoods while not the very top tier. Amenity access skews practical rather than lifestyle-focused: grocery and pharmacy availability track in the higher national percentiles, and childcare density is strong, but cafes, restaurants, and parks are limited. For investors, that mix supports day-to-day convenience for residents but may temper walkability-driven premiums.
The property’s 2013 vintage is newer than the neighborhood’s average 2009 construction year, suggesting competitive positioning versus older stock; investors should still account for mid-life capital planning and selective modernization to sustain leasing velocity. Neighborhood renter-occupied share is 36.1% (ranked 223 of 709, above the metro median), indicating a meaningful renter base that supports multifamily absorption and renewal activity.
Within a 3-mile radius, population and households have grown in recent years with forecasts calling for further increases by 2028, pointing to a larger tenant base over time. Projections within 3 miles also indicate a rising renter share alongside gains in median household income, which supports occupancy stability and helps mitigate turnover risk as the renter pool deepens.
Ownership is a high-cost proposition locally: neighborhood home values sit in a higher national percentile and the value-to-income ratio ranks 44 of 709 (top decile), which tends to reinforce reliance on rental housing. At the same time, neighborhood rent-to-income tracks in a lower national percentile, a combination that can aid lease retention and measured pricing power when managed carefully. According to WDSuite’s commercial real estate analysis, neighborhood occupancy has softened and sits below the metro median (rank 596 of 709), so underwriting should assume competitive concessions and focused management to secure renewals.
Safety indicators are mixed and should be assessed in context. The neighborhood’s composite crime rank is 497 out of 709 metro neighborhoods, which is below the metro median. Nationally, the overall crime position aligns below the midpoint, yet category-level metrics show more nuance: property offense rates track in a stronger national percentile, and violent offense measures are closer to the national middle. Recent one-year changes indicate volatility, so investors should review current reports and consider on-site measures and resident screening protocols.
Nearby employers provide a diversified employment base supporting commute convenience and renter demand, including Sysco, Merck, Lowe's, Bank of America Corp., and Duke Energy.
- Sysco — foodservice distribution (1.2 miles)
- Merck — pharmaceuticals (7.7 miles)
- Lowe's — home improvement retail (13.9 miles) — HQ
- Bank of America Corp. — banking (16.0 miles) — HQ
- Duke Energy — utilities (16.4 miles) — HQ
This 66-unit, 2013-vintage asset offers competitive positioning in a suburban Concord location where ownership costs are elevated and the renter base is meaningful. Within a 3-mile radius, population and household growth—alongside a projected increase in renter share—expand the tenant pool, supporting occupancy stability and steady leasing. According to CRE market data from WDSuite, neighborhood occupancy trends have softened versus the metro median, so disciplined operations and targeted upgrades will be important to capture renewals and maintain pricing.
Newer construction relative to nearby stock and larger average floor plans can differentiate the property against older assets, while the area’s practical amenities and proximity to major employers underpin day-to-day livability. Elevated home values and a favorable rent-to-income position create conditions for retention if rents are managed in line with demand.
- 2013 vintage provides competitive positioning versus older neighborhood stock with manageable mid-life capex planning
- Expanding 3-mile renter pool and income growth support absorption, renewals, and leasing stability
- Elevated ownership costs reinforce reliance on rental housing, aiding long-term demand
- Proximity to diversified employers supports commute convenience and tenant retention
- Risk: neighborhood occupancy trends below metro median may require competitive concessions and focused leasing management