Introduction

Investing in rental properties can be a highly lucrative endeavor if done correctly. One of the most critical factors determining the success of a rental property investment is its location. A good rental property should offer high rental demand, appreciating property values, and a favorable quality of life for tenants. This guide explores Cabarrus County, NC, a region rich with investment potential, and evaluates its best neighborhoods for rental property investment.

Best Neighborhoods and Areas in Cabarrus County, NC

1. Concord

Grades:

• Convenience: A
• Tourist Attractions: B+
• Things to Do: A
• Average Home Prices: B
• Return on Investment: A-
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: Concord is the largest city in Cabarrus County and offers excellent convenience. It has a variety of shopping centers, schools, and healthcare facilities, making it a prime location for families and professionals. Public transportation and major highways like I-85 provide easy commutes.

Tourist Attractions: Concord is home to several attractions, including the Concord Mills Mall and the Charlotte Motor Speedway. While it may not be a major tourist hub, these spots draw significant visitor traffic.

Things to Do: Residents can enjoy a plethora of activities, from shopping and dining to outdoor recreation at parks like Frank Liske Park. The city also boasts a vibrant arts scene with galleries and theaters.

Average Home Prices: Home prices in Concord are relatively affordable compared to larger metropolitan areas. The median home price is around $280,000, making it accessible for investors.

Return on Investment: With a growing population and steady job market, Concord offers strong rental demand and appreciating property values, leading to a favorable ROI for investors.

Proximity to Work-Related Travel: Concord’s proximity to Charlotte Douglas International Airport, Concord-Padgett Regional Airport, and major highways makes it an excellent location for work-related travel.

X-Factor: Concord’s unique blend of suburban comfort and urban amenities makes it highly desirable. Its rich motorsport heritage and growing community offer a dynamic living experience.

2. Kannapolis

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B+
• Average Home Prices: B+
• Return on Investment: B
• Proximity to Work-Related Travel: B+
• X-Factor: B+

Convenience: Kannapolis offers good convenience with access to schools, shopping, and medical facilities. It is well-connected by highways, though public transportation options are more limited compared to Concord.

Tourist Attractions: While not a major tourist destination, Kannapolis features the North Carolina Research Campus and the Dale Earnhardt Tribute Plaza, attracting niche visitors.

Things to Do: Residents can enjoy local parks, recreational activities, and community events. The city is also investing in downtown revitalization, enhancing its appeal.

Average Home Prices: The median home price in Kannapolis is approximately $250,000, offering affordable investment opportunities.

Return on Investment: Kannapolis is experiencing growth, but its ROI is slightly lower than Concord due to slower property value appreciation.

Proximity to Work-Related Travel: Close proximity to I-85 and regional airports provides good accessibility for work-related travel.

X-Factor: Kannapolis’ ongoing downtown revitalization and focus on biotechnology make it a unique investment opportunity with future growth potential.

3. Harrisburg

Grades:

• Convenience: A-
• Tourist Attractions: B
• Things to Do: B+
• Average Home Prices: B
• Return on Investment: A-
• Proximity to Work-Related Travel: A-
• X-Factor: A-

Convenience: Harrisburg offers excellent convenience with top-rated schools, shopping, and healthcare facilities. Its suburban environment is ideal for families and professionals.

Tourist Attractions: Harrisburg is primarily residential with fewer tourist attractions, but its proximity to Charlotte provides easy access to major attractions.

Things to Do: Residents can enjoy local parks, community events, and nearby attractions in Charlotte.

Average Home Prices: Median home prices are around $310,000, which is slightly higher but still reasonable for the quality of life offered.

Return on Investment: Harrisburg has a strong rental market with appreciating property values, providing a good ROI for investors.

Proximity to Work-Related Travel: The town’s proximity to major highways and airports makes it convenient for work-related travel.

X-Factor: Harrisburg’s excellent schools and family-friendly environment make it highly desirable. Its rapid development and suburban charm are significant draws.

4. Mount Pleasant

Grades:

• Convenience: B
• Tourist Attractions: C+
• Things to Do: B
• Average Home Prices: B+
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: B

Convenience: Mount Pleasant offers basic conveniences with essential amenities like schools and shopping. It has a small-town charm but lacks the extensive facilities of larger towns.

Tourist Attractions: The area is not a major tourist destination but offers local attractions like the Mount Pleasant Historic District.

Things to Do: Residents can enjoy outdoor activities, local events, and a close-knit community atmosphere.

Average Home Prices: Home prices in Mount Pleasant are affordable, with a median price around $240,000, making it an attractive option for budget-conscious investors.

Return on Investment: While the ROI is moderate, the affordability of homes offers potential for good returns as the area develops.

Proximity to Work-Related Travel: Proximity to highways provides reasonable access for work-related travel, though it is farther from major airports.

X-Factor: Mount Pleasant’s small-town feel and historical charm make it unique. It offers a peaceful, rural lifestyle with growth potential.

Conclusion

Cabarrus County, NC, presents diverse opportunities for rental property investment. Concord and Harrisburg stand out for their convenience, strong ROI, and unique attractions. Kannapolis and Mount Pleasant offer affordable options with promising growth potential. Each area has its unique charm and advantages, making Cabarrus County a compelling choice for real estate investors.