| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 72nd | Best |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 Lily Green Ct NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | 2005-04-15 |
| Transaction Price | $25,350,000 |
| Buyer | WMCI CHARLOTTE VI LLC |
| Seller | VILLAGE GREEN APARTMENTS LLC |
50 Lily Green Ct NW, Concord NC Multifamily Opportunity
Renter demand is supported by strong incomes and a high-cost ownership landscape in the surrounding neighborhood, according to WDSuite’s CRE market data, suggesting pricing resilience with thoughtful positioning.
Located in Concord within the Charlotte–Concord–Gastonia metro, the neighborhood scores an A rating and is competitive among 709 metro neighborhoods (ranked 58), reflecting balanced fundamentals for multifamily investors. Restaurant and cafe access trends in the top quintile nationally, while parks and groceries track above average, giving residents convenient day-to-day amenities without relying on long commutes.
Schools in the area average a 4.0 out of 5 and sit around the mid‑80s national percentile, which can aid family retention and longer tenancy. The neighborhood’s renter-occupied share is modest at the neighborhood level, indicating a larger owner-occupied base; for multifamily, that typically means a defined but stable tenant pool rather than heavy short-term churn.
Property vintage in the submarket skews newer than the subject’s 2000 construction year (neighborhood average build year trends closer to the late 2000s). That gap can translate into tactical value‑add potential—targeted interior updates, common‑area refresh, or systems modernization—to remain competitive versus newer stock.
Within a 3‑mile radius, population and household counts have been expanding and are projected to continue growing, with household sizes trending slightly smaller. This points to an enlarging renter base and supports occupancy stability over time. Elevated home values relative to many U.S. neighborhoods reinforce reliance on rental housing in this location, helping sustain demand and lease retention.
Safety indicators compare less favorably to national norms, with the neighborhood positioned in a lower national percentile for safety. For investors, this typically argues for active property management, strong lighting and access control, and resident engagement to support retention and leasing.
Trends can vary by micro‑area and over time; investors should benchmark against nearby Charlotte‑area submarkets and review recent comps and police blotter trends to understand trajectory rather than a single snapshot.
Proximity to major employers underpins steady renter demand and convenient commutes, led by life sciences, food distribution, and large corporate office anchors highlighted below.
- Merck — life sciences (3.4 miles)
- Sysco — food distribution (5.6 miles)
- Bank of America Corp. — financial services (11.8 miles) — HQ
- Duke Energy — utilities (12.2 miles) — HQ
- Cisco Systems — technology (13.3 miles)
This 24‑unit property, built in 2000 with larger‑than‑typical average unit sizes, sits in a suburban Concord neighborhood that ranks competitively within the Charlotte metro. Strong household incomes and elevated home values at the neighborhood level bolster multifamily demand and help support pricing power, while schools and everyday amenities trend above national averages—favorable for retention. According to CRE market data from WDSuite, neighborhood occupancy is softer than many peer areas, which argues for thoughtful leasing strategy and product differentiation.
Relative to a local stock that skews newer, the 2000 vintage points to clear value‑add and capital planning angles—select interior renovations and modernization can enhance positioning versus late‑2000s assets. Within a 3‑mile radius, ongoing population and household growth, alongside a shift toward a larger renter pool, provides a constructive backdrop for demand over the medium term.
- Competitive neighborhood standing in the Charlotte metro with strong amenity and school fundamentals
- High-cost ownership context reinforces renter reliance and supports pricing power
- 2000 construction year offers value‑add potential versus newer local stock
- Expanding 3‑mile population and households point to a growing tenant base
- Risks: softer neighborhood occupancy and below‑average safety profile require active management and leasing execution