| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 75th | Best |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 185 Chetola Lake Dr, Blowing Rock, NC, 28605, US |
| Region / Metro | Blowing Rock |
| Year of Construction | 1988 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
185 Chetola Lake Dr, Blowing Rock Multifamily Investment
In a high-cost ownership pocket of the Boone metro, renter demand is supported by strong incomes and top-tier neighborhood ratings, according to WDSuite s CRE market data. The submarket s quality-of-life factors and steady renter pool point to durable leasing with prudent asset management.
Blowing Rock s neighborhood ranks 2 out of 21 in the Boone metro (A-rated), placing it in the top quartile locally for overall livability and investment appeal. Schools average 4.0 out of 5 and rank 1 of 21 metro neighborhoods, a top-quartile position nationally (84th percentile), which can support family-oriented retention and leasing stability for nearby multifamily.
Amenities are balanced for a small mountain town: parks and trail access score competitively (rank 2 of 21; 74th percentile nationally), with everyday necessities like groceries and pharmacies in line with national medians. Caf e9 and restaurant density sits modestly above national midpoints, reinforcing lifestyle appeal without implying urban-scale foot traffic.
Within a 3-mile radius, population and households have expanded over the past five years, with forecasts calling for continued, if modest, growth. This trend supports a larger tenant base and helps underpin occupancy stability over time, especially as household counts edge upward while average household size remains steady.
Home values trend elevated relative to the nation (81st percentile) and the value-to-income ratio also screens high nationally (84th percentile). In investor terms, a high-cost ownership market can sustain reliance on rental housing, aiding pricing power and lease retention when paired with measured rent-to-income levels (above the national midpoint). Median contract rents in the neighborhood track near national medians and have grown over the last cycle, providing room for thoughtful repositioning without overextending affordability.
Tenure data within a 3-mile radius shows roughly one-third of housing units are renter-occupied. For multifamily owners, that renter concentration indicates a viable tenant pool while still leaving room for professionally managed communities to differentiate on quality, management, and amenities.
Vintage context: the property s 1988 construction is slightly newer than the neighborhood s average vintage (1985). That positioning can enhance competitiveness versus older stock; investors should still plan for targeted system updates and modernization to support rent trade-outs and retention.
Neighborhood-level crime metrics are not available in WDSuite for this location at this time. Investors typically contextualize safety by comparing property performance, resident feedback, and local law enforcement reports to broader Boone metro trends. As with any submarket, underwriting should incorporate on-the-ground diligence and trend monitoring rather than block-level assumptions.
The rental base here is influenced by regional employment across Boone and Blowing Rock, with residents typically commuting short distances for hospitality, healthcare, education, and local services. Employer proximity data with precise distances is not available in WDSuite for this address, so investors should validate specific commute sheds during diligence.
185 Chetola Lake Dr benefits from an A-rated neighborhood that ranks 2 of 21 in the Boone metro, pairing quality-of-life drivers with a renter base supported by elevated ownership costs. Within a 3-mile radius, population and households have increased, suggesting gradual renter pool expansion that can support occupancy stability and measured rent growth. According to CRE market data from WDSuite, median rents and rent-to-income dynamics sit around national midpoints, while home values are high for the area, reinforcing reliance on multifamily housing.
Built in 1988, the asset is slightly newer than the neighborhood average vintage, offering competitive positioning against older stock. A focused program of common-area refreshes and system updates could unlock value-add upside while maintaining leasing traction in a market with strong schools and lifestyle amenities. Key risks include small-market depth and limited childcare infrastructure, which warrant conservative absorption and expense planning.
- A-rated neighborhood (2 of 21 metro neighborhoods) supports renter appeal and lease retention
- High-cost ownership market sustains rental demand and potential pricing power
- 3-mile demographics indicate population and household growth, expanding the tenant base
- 1988 vintage provides a platform for targeted value-add and modernization
- Risks: small-market scale and limited childcare options call for conservative underwriting