| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 785 Whispering Hills Rd, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1998 |
| Units | 29 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
785 Whispering Hills Rd Boone Multifamily Opportunity
Positioned in Boone, NC, this 29-unit asset benefits from a growing 3-mile household base and favorable neighborhood rent-to-income dynamics, according to WDSuite’s CRE market data. Investors may find durable renter demand supported by regional employment and ownership costs that sustain leasing over the long run.
Boone’s suburban setting around 785 Whispering Hills Rd shows steady demand foundations. Within a 3-mile radius, population and households have increased in recent years with additional growth expected, pointing to a larger tenant base and potential support for occupancy stability. Median household incomes in the 3-mile area are healthy and rising, which can underpin rent collections and reduce turnover risk for well-managed properties.
Neighborhood indicators signal a knowledgeable resident pool: the share of adults with a bachelor’s degree ranks 2nd among 21 Boone metro neighborhoods and is very high nationally. Median home values in the neighborhood sit in the top quartile nationally, which reinforces renter reliance on multifamily housing and can help sustain pricing power for competitively positioned assets.
Amenity density inside the immediate neighborhood is limited (few cafes, groceries, parks, and pharmacies), consistent with a lower-amenity suburban pocket. For investors, this suggests the need to compete on in-property features, functional layouts, and dependable operations rather than walkable retail. Transit options are not highlighted in the data, so underwriting should assume car-oriented living and prioritize parking and on-site convenience.
Neighborhood rents have trended upward over the last five years while the neighborhood’s rent-to-income ratio ranks above many U.S. areas, indicating room to manage rents without outsized affordability pressure. Construction in the area skews around year 2000 on average; with a 1998 vintage, this property may benefit from targeted renovations to maintain competitiveness versus newer stock.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location. Investors should evaluate city and county trend reports, insurance loss runs, and property-level measures (lighting, access controls, and management protocols) to benchmark risk and mitigation. Consider proximity to well-traveled corridors and natural surveillance when assessing resident retention and leasing stability.
The property draws from Boone’s broader education, healthcare, and services employment base, which supports renter demand through practical commute times and year-round workforce needs. Specific nearby employer distance records were not available in the dataset reviewed.
This 29-unit, 1998-vintage property sits in a suburban Boone neighborhood where rising 3-mile household counts and solid incomes point to a stable renter pool. According to CRE market data from WDSuite, neighborhood rents have moved upward and the rent-to-income profile indicates headroom for disciplined pricing, while elevated neighborhood home values tend to sustain reliance on rentals. The vintage suggests selective value-add—interiors, systems, and curb appeal—to remain competitive against early-2000s stock.
Underwriting should account for car-oriented living and limited nearby retail, focusing on on-site functionality and management quality to support retention. Neighborhood occupancy readings appear softer than stronger metro pockets, so conservative lease-up and renewal assumptions are prudent, offset by projected growth in 3-mile households that expands the tenant base over time.
- Growing 3-mile household base expands the tenant pool and supports occupancy stability
- Favorable rent-to-income profile with upward rent trend, per WDSuite CRE market data
- 1998 vintage offers targeted value-add potential to compete with newer nearby stock
- Elevated neighborhood home values reinforce renter reliance and pricing power
- Risks: low amenity density and softer neighborhood occupancy warrant conservative underwriting and focus on on-site features