| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 40th | Poor |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 165 Robin Ln, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1981 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
165 Robin Ln, Boone NC — Multifamily with Durable Renter Demand
Neighborhood data points to a deep renter base and improving occupancy, according to WDSuite’s CRE market data, supporting stable leasing for a 32‑unit asset. Vintage positioning adds value‑add optionality alongside strong daily‑needs amenities.
Located in Boone’s inner‑suburb fabric, the property sits in a neighborhood rated A+ and ranked 1 out of 21 metro neighborhoods, signaling strong fundamentals relative to the local market. Daily‑needs access is a clear strength: grocery, restaurant, park, and pharmacy densities all rank 1 of 21, and benchmark in the top quartile nationally, which tends to support resident retention and steady leasing.
The area shows a high share of renter‑occupied housing units (about seven in ten at the neighborhood level), indicating depth in the tenant pool for multifamily. Within a 3‑mile radius, renters account for roughly two‑thirds of housing and are projected to increase further by 2028, which points to a larger tenant base and supports occupancy stability as new households enter the market.
Construction year averages in the neighborhood skew to the late 1980s; this property’s 1981 vintage is somewhat older, which typically means investors should plan for capital improvements and offers potential renovation or repositioning upside to stay competitive versus newer stock. Average school ratings in the neighborhood test in the top quartile nationally and rank 5 of 21 locally, a supportive quality‑of‑life signal for longer‑term tenancy among non‑student cohorts.
On the income and affordability side, neighborhood home values are elevated for the market while median household income is lower, a mix that can reinforce reliance on rental housing. Neighborhood occupancy has trended higher in recent years and ranks 2 of 21 locally, indicating performance above the metro median. Together with mid‑market rents and strong amenity access, these factors support a balanced case for pricing power with prudent lease management.
Comparable neighborhood‑level crime statistics are not available in WDSuite for this area, so investors should benchmark safety using city and county trend reports and property‑specific history. A practical approach is to compare multi‑year trends for Boone and Watauga County and align them with on‑site operating data (tenancy duration, incident reports) to contextualize risk alongside leasing and retention metrics.
This 32‑unit, 1981‑vintage asset benefits from a renter‑heavy neighborhood, strong daily‑needs accessibility, and occupancy performance that sits above the metro median. The vintage suggests planned capital work could unlock value through interiors and common‑area updates while maintaining competitiveness against newer supply. According to CRE market data from WDSuite, neighborhood rents remain mid‑market relative to local incomes and home values, supporting steady demand while requiring attentive affordability and retention management.
Demographics aggregated within a 3‑mile radius point to population growth and a projected increase in households, expanding the renter pool over the next five years. Elevated ownership costs in the area further sustain reliance on multifamily housing, which can bolster leasing stability when paired with quality‑of‑life attributes such as top‑quartile amenities and solid school benchmarks.
- Renter‑concentrated neighborhood supports a deep tenant base and consistent leasing
- Amenity‑rich location (grocery, parks, restaurants, pharmacies) aids retention and rentability
- 1981 vintage offers value‑add potential through targeted renovations
- Above‑metro occupancy signals durable demand with prudent lease management
- Risk: Income levels and rent‑to‑income pressures require disciplined renewal and pricing strategy