| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 59th | Good |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4092 Nc Highway 105 S, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1986 |
| Units | 27 |
| Transaction Date | 2020-01-03 |
| Transaction Price | $1,725,000 |
| Buyer | APP WEST LLC |
| Seller | FOUR SEASONS APARTMENTS LLC |
4092 NC Highway 105 S, Boone NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand and improving occupancy, according to WDSuite’s CRE market data, with pricing power supported by a high-cost ownership landscape in Boone.
The property is situated in a suburban Boone neighborhood rated A- and competitive among Boone neighborhoods (6 of 21). Neighborhood occupancy is 80.4% and has improved in recent years; it stands competitive locally but sits below national medians by percentile. These occupancy figures reference the neighborhood, not the property.
Renter-occupied share within the immediate neighborhood is relatively modest, indicating thinner near-block renter concentration. However, demographics aggregated within a 3-mile radius show a majority renter-occupied housing stock and a very large 18–34-year-old cohort, which together signal depth for multifamily leasing and roommate-style demand. Forecasts within that 3-mile radius indicate population and household growth, supporting a larger tenant base and potential occupancy stability over the medium term.
Home values in the neighborhood are elevated relative to local incomes (high national percentile for value-to-income ratio), which typically sustains reliance on rentals and can aid lease retention for well-located assets. Median contracted rents at the neighborhood level track on the lower side versus national norms, while 3-mile rents have trended upward and are projected to continue rising, underscoring a pricing spectrum that can support various unit mixes.
Amenities are mixed: cafe density trends above national averages, while grocery, parks, and pharmacies are sparse in the immediate area, pointing to more car-dependent living patterns. For investors, this favors properties that address on-site convenience and parking, while leveraging proximity to Boone’s core services and institutions.
Comparable safety data for this neighborhood were not available in the provided dataset. Investors typically benchmark neighborhood-level trends against metro and national baselines to contextualize risk and retention; consider monitoring credible public sources and owner reports over multiple periods for a read on directionality rather than isolated incidents.
This 27-unit asset benefits from a renter-driven demand profile in Boone, with neighborhood occupancy competitive among local peers and 3-mile demographics indicating a sizable 18–34 renter pool. Elevated home values relative to income reinforce long-run reliance on multifamily housing, supporting leasing stability and renewal potential. According to CRE market data from WDSuite, rent levels locally remain accessible compared with national benchmarks, suggesting room for measured rent growth where capital improvements enhance livability.
Operationally, the submarket’s mixed amenity profile emphasizes the value of on-site convenience and parking, while the broader 3-mile radius outlook points to expanding households over the next five years — a constructive setup for absorption. Key watch items include limited immediate access to daily-needs retail and the absence of verified safety statistics in this dataset, both of which warrant continued monitoring during diligence.
- Competitive neighborhood occupancy with upward trend supports leasing stability
- 3-mile radius shows a large, growing renter pool to underpin demand
- High-cost ownership landscape sustains renter reliance and renewal potential
- Mixed amenity environment rewards properties with on-site convenience and parking
- Risks: sparse daily-needs retail nearby and limited safety datapoints require closer diligence