Opinions on King's Mountain NC?
I'm new to the area and came across a nice deal in Kings Mountain. From what I see it's not stellar in terms of population or job growth, but does look like it saw big price increases lately, I assume it's mainly population from Charlotte moving out to get more bang for their buck.
If you're an investor with properties there I'd love to hear your thoughts on the market in general, how you see its potentail, the population I can expect as tenants, and things to pay attention to.
@Roy Gottesdiener - I am not familiar with the rental market with Kings Mountain specifically, but there is grow happening in that area with the building of the Catawba Two Kings Casino. They have a temporary facility open now, but have plans to open a large permanent casino in the future. Both construction and eventual casino I would imagine bring more people to the area. Just my 2 cents.
@Chris T. Thanks Chris, makes sense. I'm also wondering if Charlotte being so expensive is likely to drive people there, even though it might be a bit too far a commute
@Roy Gottesdiener The surge in pricing there is due to a new casino "Two Kings Casino" that is opening fully in 2024. It is, by far, the largest casino near Charlotte or in the region, and has been drawing thousands of workers from out of town pushing rent prices, and investment opportunity very high. From, a short term rental perspective, it's also very interesting as contractors have basically rented up everything in town for the forseeable future. It's not a migration to the town from Charlotte as suggested, although statewide growth has been consistent, Kings Mountain is a bit far from the economic gravitational pull of the Charlotte metro area, and the out-pacing in pricing is due to the casino, not so much a shelter from higher prices in Charlotte.
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Real Estate Agent North Carolina (#333766)
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Quote from @Levi Bennett:
@Roy Gottesdiener The surge in pricing there is due to a new casino "Two Kings Casino" that is opening fully in 2024. It is, by far, the largest casino near Charlotte or in the region, and has been drawing thousands of workers from out of town pushing rent prices, and investment opportunity very high. From, a short term rental perspective, it's also very interesting as contractors have basically rented up everything in town for the forseeable future. It's not a migration to the town from Charlotte as suggested, although statewide growth has been consistent, Kings Mountain is a bit far from the economic gravitational pull of the Charlotte metro area, and the out-pacing in pricing is due to the casino, not so much a shelter from higher prices in Charlotte.
Thanks for the info Levi! I'm moving forward with this deal, I like what I see and numbers look good to me
@Roy Gottesdiener - I hope it goes well and you see continued growth.