| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 47th | Fair |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3699 Patriots Place Dr, Concord, NC, 28025, US |
| Region / Metro | Concord |
| Year of Construction | 2000 |
| Units | 76 |
| Transaction Date | 2016-04-20 |
| Transaction Price | $3,825,000 |
| Buyer | LCA Patriots Pointe, LP |
| Seller | --- |
3699 Patriots Place Dr, Concord NC Multifamily Investment
Stabilized renter demand in an inner-suburban pocket of Concord supports predictable operations, with neighborhood occupancy above the metro median according to WDSuite’s CRE market data.
This inner-suburban location in the Charlotte–Concord–Gastonia metro offers a residential setting with park access while trading off immediate walkability to retail and cafes. Neighborhood amenity density tests below the metro median, but nearby parks score in the upper half nationally, which helps overall livability for family renters.
For investors, the neighborhood’s occupancy rate is above the metro median among 709 Charlotte-area neighborhoods, indicating healthy leasing fundamentals at the submarket level rather than property-specific performance. Median asking rents in the neighborhood trend in the upper third nationally, suggesting room for professional management to sustain pricing without relying on outsized premiums.
Tenure patterns signal durable multifamily demand: the share of housing units that are renter-occupied sits on the higher side for the metro, pointing to a deep tenant base. At the same time, a relatively low rent-to-income profile versus many neighborhoods nationwide supports retention and limits turnover risk in typical lease cycles.
Demographic statistics aggregated within a 3-mile radius show population and household growth alongside rising incomes, expanding the local renter pool. Forward-looking projections indicate more households and slightly smaller average household sizes, a mix that generally supports absorption for 2–3 bedroom product and stability in family-oriented assets.
The property’s 2000 vintage is newer than much of the area’s housing stock, which skews older, giving it a competitive edge on curb appeal and systems. Investors should still underwrite routine modernization over the hold to maintain positioning against ongoing deliveries metro-wide.
Safety performance here tracks below the metro median, with the neighborhood’s crime rank in the lower half among 709 Charlotte-area neighborhoods. Compared with neighborhoods nationwide, the area sits below the national median for safety, so investors should incorporate typical operational best practices (access control, lighting, and resident engagement) into underwriting and asset plans.
Recent year-over-year data indicate a noticeable uptick in reported violent offenses and a modest property-crime rate relative to the region; investors should review current comps and property-level incident logs to contextualize these neighborhood trends. As always, these are neighborhood-level indicators and not a statement about this specific property or block.
Proximity to major employers underpins workforce housing demand and commute convenience, including Sysco, Merck, and several Fortune 500 headquarters such as Bank of America, Sonic Automotive, and Duke Energy.
- Sysco — food distribution (5.9 miles)
- Merck — pharmaceuticals (11.0 miles)
- Bank of America Corp. — banking (17.9 miles) — HQ
- Sonic Automotive — auto retail (18.1 miles) — HQ
- Duke Energy — utilities (18.3 miles) — HQ
Positioned in an inner-suburban pocket of Concord with renter demand above the metro median, this 76-unit asset benefits from neighborhood-level occupancy stability and a renter-occupied housing share that supports a broad tenant base. Based on commercial real estate analysis from WDSuite, local rents benchmark in the upper third nationally while rent-to-income remains comparatively manageable, aiding pricing power without overextending residents.
The 2000 construction vintage is newer than much of the surrounding stock, offering a competitive starting point; targeted updates can refresh interiors and common areas to sustain performance against newer metro deliveries. Within a 3-mile radius, population and household growth alongside rising incomes point to renter pool expansion over the medium term, which supports absorption and lease retention for larger floor plans.
- Neighborhood occupancy above the metro median supports stable leasing and reduced downtime.
- 2000 vintage provides competitive positioning versus older local stock, with value-add potential through selective modernization.
- 3-mile radius data indicate population and household growth with rising incomes, expanding the renter pool.
- Rents benchmark in the upper third nationally while rent-to-income remains comparatively manageable, aiding retention.
- Risks: below-median neighborhood safety and limited near-site retail/cafe density warrant conservative expense assumptions and active asset management.