| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 64th | Good |
| Amenities | 7th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4301 Forestridge Ln, Kannapolis, NC, 28081, US |
| Region / Metro | Kannapolis |
| Year of Construction | 1984 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4301 Forestridge Ln Kannapolis NC Multifamily Investment
Positioned for renter demand supported by nearby household growth and accessible rents relative to incomes, according to WDSuite’s CRE market data. Neighborhood metrics reflect area conditions (not this property) and suggest stable leasing potential with prudent asset management.
Located in Kannapolis within the Charlotte–Concord–Gastonia metro, the property sits in a rural-leaning neighborhood with limited walkable amenities. Amenity density ranks in the lower half among 709 metro neighborhoods, indicating an auto-oriented living pattern. For investors, this typically favors value propositions tied to space, parking, and on-site features over foot-traffic convenience.
Neighborhood housing data points to moderate occupancy conditions rather than tight market dynamics. The share of housing units that are renter-occupied is modest, which can temper turnover pressure but may narrow the immediate tenant pool; investors should underwrite marketing reach and lease-up timelines accordingly. Median contract rents in the neighborhood trend below national levels, supporting pricing competitiveness and potential retention.
The average construction year in the neighborhood is 1951, while this asset was built in 1984. Being newer than much of the local stock supports relative competitiveness; however, at its age, investors should still anticipate targeted modernization or systems upgrades to sustain performance.
Within a 3-mile radius, population and household counts have been increasing and are projected to expand further, which supports a larger tenant base over time. Income trends in the 3-mile area have strengthened, while neighborhood-level rent-to-income indicators suggest manageable affordability, a positive for lease retention and occupancy stability. Home values sit near national medians, and a relatively accessible ownership market may introduce some competition; underwriting should reflect positioning on value, finishes, and management quality.
Safety indicators present a mixed but generally encouraging picture. Compared with neighborhoods nationwide, the area registers in the upper percentiles for lower violent and property offense rates, placing it in the top quartile nationally on several measures. At the metro level (709 neighborhoods), crime ranks indicate conditions that are not among the metro’s lowest-risk areas, so expectations should be calibrated to local norms rather than prime urban submarkets.
Recent trend data is favorable, with notable year-over-year improvement in violent offense estimates. For investors, this combination—competitive national standing with improving trends—supports leasing narratives and tenant retention, while still warranting routine security, lighting, and property management best practices appropriate to the Charlotte metro.
Proximity to major employers supports commuter convenience and a diversified renter base, including roles across foodservice distribution, home improvement, pharmaceuticals, banking, and utilities.
- Sysco — foodservice distribution (5.1 miles)
- Lowe's — home improvement (11.8 miles) — HQ
- Merck — pharmaceuticals (13.0 miles)
- Bank of America Corp. — banking (21.5 miles) — HQ
- Duke Energy — utilities (21.9 miles) — HQ
This 80-unit 1984 asset is newer than the average neighborhood vintage, offering a competitive starting point versus older stock while still warranting selective capital planning for modernization. Neighborhood data shows rents positioned for accessibility relative to incomes and moderate occupancy conditions; together with 3-mile population and household growth, this supports demand depth and lease retention. According to CRE market data from WDSuite, local affordability and improving safety trends underpin a steady, workforce-oriented renter profile.
Investor focus should center on operational execution and targeted upgrades rather than outsized market appreciation assumptions. Amenity-light surroundings mean on-site features, parking, and management quality are primary levers for pricing and retention. A more accessible ownership market may create competition at certain rent levels, but sustained income growth and a larger commuter base tied to nearby employers can support occupancy stability.
- Newer-than-neighborhood vintage supports competitive positioning with manageable value-add scope
- Rents accessible relative to incomes aid retention and pricing flexibility
- 3-mile population and household growth expands the tenant base over time
- Proximity to diversified employers supports steady commuter demand
- Risks: amenity-light location and accessible ownership market require strong on-site experience and disciplined underwriting