| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 42nd | Poor |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 139 Highland Woods Trl, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 2012 |
| Units | 36 |
| Transaction Date | 2016-09-15 |
| Transaction Price | $5,200,000 |
| Buyer | Trinity Properties, LLC |
| Seller | GTM Management, LLC |
139 Highland Woods Trl Boone 36-Unit Multifamily
Renter demand is supported by a high-cost ownership market and a renter-occupied majority in the surrounding area, according to WDSuite’s CRE market data. Neighborhood occupancy has trended higher in recent years, pointing to improving leasing stability versus prior periods.
This Inner Suburb neighborhood is rated A- and ranks 4th out of 21 metro neighborhoods, placing it in the top quartile locally. For investors, that signals solid fundamentals relative to the Boone metro. Amenities are competitive among Boone neighborhoods (cafes and groceries rank near the top of 21), while pharmacies are scarce, which may modestly affect convenience for some residents.
Schools stand out: the neighborhood’s average rating ranks 1st of 21 in the metro and sits in a high national percentile, which can help with retention for family-oriented renters. Median home values are elevated for the area and value-to-income is among the highest nationally; in practical terms, this is a high-cost ownership market that tends to sustain reliance on multifamily rentals and can support pricing power when managed carefully.
Tenure data indicates depth in the renter base: at the neighborhood level, more than half of housing units are renter-occupied. Within a 3-mile radius, renters already account for a significant share of occupied housing today and are projected to make up an even larger share over the next five years. Household counts in that 3-mile radius are also projected to increase, implying a larger tenant base and supporting occupancy stability.
Occupancy for the neighborhood has increased meaningfully over the last five years, though it remains below national norms, suggesting continued opportunity for disciplined leasing and renewals. The property’s 2012 construction is newer than the neighborhood’s typical vintage (early 1980s), offering competitive positioning versus older stock while still warranting routine system updates and potential light renovations to maintain rentability. For targeted commercial real estate analysis, these dynamics point to steady renter demand with operational upside.
Comparable, metro-level crime benchmarks for this neighborhood are not available in the provided dataset. Investors should use standard diligence by comparing recent neighborhood crime trends to Boone and county baselines from trusted public sources and insurer reports. Framing safety at the neighborhood level—not the block—helps set realistic expectations for leasing and retention planning.
Built in 2012 with 36 units, the property competes favorably against an older neighborhood stock, reducing near-term capital needs while keeping optionality for targeted value-add. A renter-occupied majority in the area and elevated ownership costs indicate a durable tenant base. Neighborhood occupancy has improved over the past five years, and average NOI per unit in this neighborhood outperforms most of the metro, pointing to operational potential when paired with disciplined management.
Within a 3-mile radius, households are projected to grow and renter share is expected to increase, supporting lease-up and renewal strategies. According to CRE market data from WDSuite, local schools rank at the top of the metro and amenities are competitive, both of which can aid retention, while limited pharmacy access and below-national occupancy norms highlight the need for thoughtful convenience messaging and active leasing oversight.
- 2012 vintage outcompetes older neighborhood stock; focus on routine system updates and selective value-add
- Renter-occupied majority and high ownership costs support demand depth and pricing power
- Neighborhood occupancy trending higher, with operational upside via renewals and leasing discipline
- Top-of-metro school ratings and competitive amenities bolster retention
- Risks: below-national occupancy levels and limited pharmacy access require proactive management