| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 42nd | Poor |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 325 Yosef Dr, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | 2025-08-13 |
| Transaction Price | $68,500,000 |
| Buyer | MOUNTAINEER BOONE LLC |
| Seller | MV AT BOONE LLC |
325 Yosef Dr Boone NC Multifamily Investment
Positioned in a renter-heavy neighborhood with rising occupancy, this 24-unit 2003-vintage asset benefits from durable tenant demand and competitive positioning versus older stock, according to WDSuite s CRE market data.
The property sits in an Inner Suburb neighborhood of Boone rated A- and ranked 4 out of 21 neighborhoods in the metro, making it competitive among Boone neighborhoods for overall livability and investment fundamentals. Construction in 2003 is newer than the local average vintage (1983), which supports relative competitiveness versus older inventory while still warranting routine system upgrades over the hold period.
Neighborhood occupancy is 82.3% and has trended higher over the last five years, suggesting improved stability even if levels remain below many national benchmarks. Renter-occupied housing accounts for roughly 53% of neighborhood units with a high national percentile reading, indicating a deep tenant base that typically supports leasing velocity and renewal potential for multifamily operators.
Within a 3-mile radius, population has grown in recent years with households also increasing, and forecasts point to further renter pool expansion alongside smaller average household sizes. For investors, that combination generally expands the addressable tenant base and can help sustain occupancy, especially for well-maintained, mid-2000s assets.
Local amenities are around the national median for restaurants and parks, with cafes and grocery options registering slightly above average, while pharmacies are comparatively scarce. Schools benchmark well: the neighborhood s average school rating is strong (top quartile nationally and the highest among 21 Boone neighborhoods), which can reinforce neighborhood desirability and resident retention.
Home values are elevated relative to incomes (high national value-to-income percentile), signaling a high-cost ownership market that tends to reinforce multifamily reliance and support steady renter demand. At the same time, neighborhood NOI per unit trends are strong versus metro peers (top rank locally and high national percentile), which underscores the area s income-generating profile for professionally managed assets.
WDSuite s dataset does not include specific crime ranks or national percentiles for this neighborhood. Investors typically compare neighborhood conditions to city and county reports, track multi-year trends, and evaluate property-level measures (lighting, access control, visibility) when underwriting retention and operating costs.
Given the absence of comparable metrics here, a prudent approach is to review recent police blotters and third-party indices at the neighborhood and city levels, and to assess site-specific design and management practices that can support resident comfort and leasing stability.
This 24-unit multifamily asset, built in 2003, aligns with a neighborhood that is competitive within the Boone metro and demonstrates improving occupancy alongside a high renter concentration. Newer-than-average vintage provides relative competitiveness versus older stock, with typical capital planning for mid-life systems. Elevated home values relative to household incomes point to a high-cost ownership market that supports sustained rental demand, while strong neighborhood NOI-per-unit trends versus metro peers reinforce income potential, based on CRE market data from WDSuite.
Forward-looking demographics within a 3-mile radius show population growth and a projected increase in households, expanding the renter pool and supporting occupancy stability. Key risks include rent-to-income pressure and occupancy levels that, while improving locally, may trail stronger national markets; disciplined lease management and amenity positioning can help balance pricing power with retention.
- 2003 vintage offers competitive positioning versus older neighborhood stock with manageable modernization needs
- High renter-occupied share and household growth within 3 miles support depth of tenant demand
- Elevated ownership costs locally reinforce reliance on rental housing and leasing stability
- Strong neighborhood NOI-per-unit trends versus metro peers support income potential
- Risk: rent-to-income pressure and below-national occupancy levels call for careful pricing and retention strategy