| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 61st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 Ginnie Springs Dr, Kannapolis, NC, 28081, US |
| Region / Metro | Kannapolis |
| Year of Construction | 2010 |
| Units | 26 |
| Transaction Date | 2009-08-19 |
| Transaction Price | $3,763,000 |
| Buyer | WEST SHORE VIVE LLC |
| Seller | INTEGRA POE LP |
2000 Ginnie Springs Dr Kannapolis Multifamily Investment
2010 vintage and suburban positioning suggest competitive appeal versus older local stock, with renter demand reinforced by a high-cost ownership landscape, according to WDSuite’s CRE market data.
This suburban neighborhood in the Charlotte-Concord-Gastonia metro carries a B+ rating and ranks 205 out of 709 metro neighborhoods, indicating performance above the metro median in several investor-relevant factors while leaving room for operational upside.
Livability is balanced rather than amenity-rich: restaurants and grocery access sit near metro norms, pharmacies test slightly stronger than average, while cafes and parks are limited. Average school ratings score in the top quartile nationally, which can support family-oriented renter demand and lease retention.
For multifamily dynamics, the neighborhood’s share of renter-occupied housing is comparatively strong (competitive among Charlotte-Concord-Gastonia neighborhoods based on rank), signaling a meaningful tenant base for a 26-unit asset. By contrast, neighborhood occupancy trends sit below national norms, suggesting the need for attentive leasing and renewal strategies to sustain stability.
The ownership market skews higher-cost (home values and value-to-income both rank in the upper national percentiles), which tends to sustain reliance on rental housing and can support pricing power. At the same time, rent-to-income measures indicate relatively manageable tenant affordability, reducing near-term retention risk from rent burdens. NOI per unit benchmarks track above the national median, per WDSuite’s commercial real estate analysis.
Construction in the area skews more recent than many U.S. neighborhoods (average around the early 2000s). With a 2010 build, the subject property is newer than the neighborhood average, offering competitive positioning versus older stock, while investors should still plan for normal mid-life system updates and potential value-add modernization.
Within a 3-mile radius, demographics point to recent population and household growth with further increases projected, alongside rising median incomes. This trend supports a larger tenant base and steady renter demand over the medium term, based on CRE market data from WDSuite.
Safety signals are mixed but generally competitive for the metro. The neighborhood’s overall crime rank sits near the metro median (ranked 332 out of 709 Charlotte-Concord-Gastonia neighborhoods), indicating neither a clear outlier risk nor a top-performing enclave.
Nationally, property offense indicators perform in the top quartile, and violent offense measures sit above the national median, suggesting comparatively favorable conditions versus many U.S. neighborhoods. Recent year-over-year offense trends show increases, so prudent operators may account for lighting, access control, and resident engagement to support perception and retention.
Proximity to regional employers supports commuter convenience and renter retention, with a mix of distribution, pharmaceuticals, home improvement corporate, banking, and utilities represented below.
- Sysco — foodservice distribution (3.3 miles)
- Merck — pharmaceuticals (11.1 miles)
- Lowe's — home improvement corporate (11.7 miles) — HQ
- Bank of America Corp. — banking (19.6 miles) — HQ
- Duke Energy — utilities (19.9 miles) — HQ
Built in 2010, this 26-unit asset benefits from a newer vintage relative to the neighborhood’s early-2000s average, offering competitive positioning versus older product while leaving room for targeted updates. Investor fundamentals are anchored by a comparatively strong share of renter-occupied housing in the neighborhood (competitive among Charlotte-Concord-Gastonia neighborhoods) and a high-cost ownership market that tends to sustain rental demand. According to CRE market data from WDSuite, neighborhood occupancy trends lag national norms, so consistent leasing execution and renewal management remain important.
Within a 3-mile radius, recent gains in population and households, rising median incomes, and further growth projections point to a larger tenant base and support for occupancy stability over time. With school quality testing well above national averages and major employers within easy driving distance, the submarket profile supports renter demand while allowing for value-add strategies as systems age into mid-life cycles.
- 2010 vintage provides competitive positioning versus older local stock with value-add pathways
- High-cost ownership market reinforces multifamily demand and potential pricing power
- Renter-occupied share is competitive among metro neighborhoods, supporting tenant base depth
- 3-mile demographics show growing households and incomes, aiding leasing and retention
- Risks: below-national neighborhood occupancy, limited nearby amenities, and recent offense upticks require attentive operations