| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 24th | Poor |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1701 Oakcrest Dr, Kannapolis, NC, 28083, US |
| Region / Metro | Kannapolis |
| Year of Construction | 1997 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1701 Oakcrest Dr, Kannapolis 100-Unit Multifamily
Neighborhood occupancy sits slightly above the Charlotte metro median with a deep renter base, supporting stable demand according to WDSuite s commercial real estate analysis. Strong everyday amenities nearby add leasing convenience while ownership costs in the area tend to sustain multifamily reliance.
This inner-suburb location in Kannapolis scores a B+ among Charlotte-Concord-Gastonia neighborhoods and ranks 252 out of 709, placing it above the metro median in overall neighborhood performance. Grocery access is a relative strength (92nd percentile nationally), with restaurants and cafes also competitive, while park access trends solidly above average. Pharmacy access is limited in the immediate area, which investors should factor into livability assessments.
At the neighborhood level, occupancy is 92.6%, which is slightly above the metro median based on CRE market data from WDSuite. The share of housing units that are renter-occupied is elevated (90th percentile nationally), indicating a sizable tenant base that can support multifamily absorption and retention through cycles. Rent-to-income levels trend relatively manageable locally, which can aid renewal strategies and reduce near-term affordability pressure risk.
Property vintage and positioning: Built in 1997, the asset is newer than the neighborhood s average construction year of 1987. That positioning generally improves competitiveness versus older stock, with practical considerations for systems updates and modernization to capture rent premiums.
Demand drivers and demographics (3-mile radius): Recent population growth has been modest, but forecasts point to meaningful expansion in both population and households over the next five years. Household size is expected to decline, which typically supports demand for rental units as more, smaller households seek housing. Median incomes in the 3-mile radius have risen alongside projected rent growth, suggesting room for disciplined pricing while maintaining occupancy stability.
Ownership costs and rental dynamics: Neighborhood home values sit higher relative to local incomes (82nd percentile nationally on value-to-income), a high-cost ownership context that tends to reinforce renter reliance on multifamily housing. For investors, this backdrop can support leasing velocity and pricing power, balanced against competitive supply and amenity expectations.
Safety indicators are mixed and warrant monitoring. Within the Charlotte-Concord-Gastonia metro, the neighborhood s crime rank is 545 out of 709, indicating higher crime levels than many peer neighborhoods. Nationally, violent-offense indicators benchmark around the 60th percentile (safer than average), while property-offense measures trend closer to the lower-middle range (around the 35th percentile). Year-over-year estimates show volatility in reported rates; investors should evaluate recent, property-level security measures and local enforcement initiatives rather than relying solely on historical neighborhood aggregates.
Proximity to regional employers supports workforce housing demand and commute convenience, anchored by Sysco, Merck, Lowe s, Bank of America, and Duke Energy.
- Sysco — food distribution (4.3 miles)
- Merck — pharmaceuticals (13.3 miles)
- Lowe's — home improvement retail corporate (15.4 miles) — HQ
- Bank of America Corp. — banking & financial services (21.6 miles) — HQ
- Duke Energy — utilities (22.0 miles) — HQ
The 1997-vintage, 100-unit asset at 1701 Oakcrest Dr benefits from a renter-leaning neighborhood profile and occupancy near the metro median, while grocery, dining, and park access enhance daily convenience. According to CRE market data from WDSuite, neighborhood occupancy is 92.6% and renter-occupied share is elevated, signaling a deep tenant pool that supports absorption and renewal strategies. Higher ownership costs relative to income at the neighborhood level further sustain reliance on rental housing, aiding pricing power when paired with targeted upgrades.
Within a 3-mile radius, forecasts indicate notable population and household growth with smaller average household sizes, increasing the number of prospective renters and supporting long-term leasing stability. The 1997 construction suggests a competitive basis versus older stock, with clear value-add pathways via interior modernization and system updates to meet current renter expectations and capture incremental rent.
- Renter concentration and occupancy slightly above metro median support stable leasing and renewals.
- Strong everyday amenities (groceries, restaurants, parks) enhance tenant retention and leasing velocity.
- Forecast growth and smaller household sizes (3-mile radius) expand the renter pool over the mid term.
- 1997 vintage offers value-add potential through modernization relative to older neighborhood stock.
- Risks: service gaps (limited nearby pharmacies), mixed safety signals, and the need to manage rents alongside income trends.