| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 702 S Aspen St, Lincolnton, NC, 28092, US |
| Region / Metro | Lincolnton |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
702 S Aspen St, Lincolnton NC — 24-Unit Multifamily
Neighborhood occupancy sits above the metro median and renter concentration is comparatively high, supporting depth of tenant demand, according to WDSuite’s CRE market data. Positioning near major Charlotte employment hubs further supports leasing stability for this Lincolnton asset.
The property is in an Inner Suburb location within the Charlotte-Concord-Gastonia metro and the neighborhood ranks 196 out of 709 metro neighborhoods—competitive among Charlotte-area submarkets. Local amenity access trends favorably: restaurants per square mile are strong (top quartile nationally), with grocery and pharmacy access also above national midpoints, while cafes are limited. Average school ratings sit close to the national midpoint, offering a balanced but not premium education profile.
Rents in the neighborhood track below national norms (neighborhood metric near the lower national third), which can aid lease-up and retention. However, the rent-to-income ratio indicates affordability pressure for some renters, suggesting prudent lease management and renewals strategy. Median home values in the area sit in a high-cost ownership context relative to local incomes (value-to-income ratio is in the high national percentiles), which tends to reinforce reliance on multifamily rentals and supports sustained renter demand.
Occupancy in the neighborhood is above the metro median and has strengthened over the past five years, according to WDSuite’s CRE market data. The share of renter-occupied housing units in the neighborhood is also comparatively elevated within the metro, indicating a deeper tenant base for multifamily operators.
Demographic statistics are aggregated within a 3-mile radius: the population and total households have grown over the last five years, and households are projected to expand further by the mid‑term forecast horizon. The mix includes a meaningful share of working-age residents, with average household size edging lower—factors that typically widen the renter pool and can support occupancy stability for smaller-unit product. Given the neighborhood’s older average construction vintage (mid‑1960s), a 1984 asset can compete well versus older stock, though investors should plan for targeted modernization of building systems and finishes to sustain rentability.
Crime dynamics are mixed when viewed against both metro and national benchmarks. The neighborhood’s overall crime position is modestly better than the national average (mid‑50s national percentile) and competitive among Charlotte neighborhoods, but patterns vary by offense type.
Property crime rates have improved notably year over year, trending stronger than many areas nationwide (upper national percentiles for improvement). Violent offense metrics sit below the national midpoint and ticked up over the past year, warranting routine, property‑level risk management. Interpreting ranks relative to the Charlotte-Concord-Gastonia metro (709 neighborhoods) supports a cautious but balanced outlook rather than block‑level conclusions.
Proximity to Charlotte’s diversified employment base underpins workforce housing demand and commute convenience, with nearby employers including Duke Energy, Lowe’s, AmerisourceBergen Healthcare Consultants, Bank of America, and Duke Energy’s headquarters cluster.
- Duke Energy — utilities operations (12.6 miles)
- Lowe's — home improvement retail corporate (23.2 miles) — HQ
- AmerisourceBergen Healthcare Consultants — healthcare services (26.4 miles)
- Duke Energy — utilities corporate (28.4 miles) — HQ
- Bank of America Corp. — banking corporate (28.5 miles) — HQ
702 S Aspen St offers a 24‑unit footprint with neighborhood occupancy above the metro median and a renter-occupied share that is comparatively high within the Charlotte metro—factors that support depth of tenant demand and leasing durability. According to CRE market data from WDSuite, local rents trend below national norms while ownership costs are elevated relative to incomes, a combination that supports renter reliance on multifamily even as lease management should address affordability pressure. The 1984 construction date positions the asset as newer than much of the area’s housing stock, providing competitive footing versus older properties while still presenting selective value‑add opportunities.
Demographic statistics aggregated within a 3‑mile radius indicate recent population and household growth, with further household expansion projected—supporting a larger tenant base over the medium term. Amenity access is balanced, with strong restaurant density and solid grocery/pharmacy coverage for daily needs, while schools and cafe density are more middle‑of‑the‑pack. Crime trends are mixed—property incidents improving and violent metrics nearer the national midpoint—suggesting standard risk controls rather than outsized mitigation.
- Above-metro occupancy and elevated renter concentration support demand depth
- Newer 1984 vintage versus neighborhood average offers competitive positioning with value‑add upside
- Rents below national norms aid lease-up; high ownership costs reinforce multifamily demand
- 3‑mile population and household growth expand the tenant base over the medium term
- Risks: affordability pressure (rent-to-income) and mixed violent offense trends require active management