| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 787 Whispering Hills Rd, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1998 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
787 Whispering Hills Rd Boone NC Multifamily Investment
Positioned in a suburban pocket of Boone, this 41-unit asset targets steady renter demand supported by favorable rent-to-income dynamics and a growing nearby household base, according to WDSuite’s CRE market data. The investment case centers on affordability-led retention and operational discipline rather than amenity-driven lease-up.
Boone’s Whispering Hills area reads as a suburban enclave with limited immediate retail and parks, but it benefits from broader metro access and steady regional draw. Neighborhood ranking sits near the middle of the Boone metro (10th among 21 neighborhoods, rated “B”), signaling competitive but not peak positioning for investors seeking consistent, needs-based demand rather than lifestyle-driven premiums.
Rents in the neighborhood have risen over the last five years while remaining comparatively manageable relative to incomes. The neighborhood’s rent-to-income measure is strong (top quartile nationally), which supports lease retention and cushions against abrupt delinquency risk. By contrast, neighborhood occupancy trends rank below the metro median (16th of 21), indicating leasing may require active management and prudent concessions to stabilize during slower periods.
Construction vintage skews slightly older than the neighborhood average: the property was built in 1998, while the area’s typical build year is around 2000 (competitive among Boone neighborhoods at 4th of 21). For investors, the 1998 vintage points to targeted capital planning for systems and finishes, with potential value-add upside to strengthen positioning against newer stock.
Within a 3-mile radius, demographics show population and household growth over the last five years, with additional household gains forecast. A sizable share of residents hold bachelor’s degrees (top percentile nationally), and household incomes rank above many U.S. neighborhoods. These factors expand the potential renter pool and can support occupancy stability, though investors should calibrate pricing to maintain affordability and limit turnover. Elevated home values versus national norms further reinforce reliance on rental options, which may support pricing power at renewal in balanced market conditions.
Comparable crime metrics for this specific neighborhood are not available in the WDSuite dataset provided. Investors typically benchmark property-level history and police blotter trends against Boone metro norms and peer submarkets to assess stability and any directional changes. Interpreting safety in a comparative, trend-focused way helps calibrate retention assumptions and operating strategies without overreliance on block-level anecdotes.
This 41-unit, small-format asset in Boone offers a pragmatic investment profile: favorable rent-to-income dynamics, a deepening household base within 3 miles, and elevated ownership costs that sustain multifamily reliance. Based on CRE market data from WDSuite, neighborhood leasing requires active management, but the affordability profile supports retention and reduces volatility risk when pricing is aligned with local incomes.
Built in 1998, the property may benefit from selective renovations to enhance competitiveness against slightly newer neighborhood stock. Population and household growth within a 3-mile radius, alongside strong educational attainment and incomes, points to a stable tenant base. The thesis is operationally focused—optimize unit turns, maintain affordability, and deploy targeted capex to preserve occupancy and rent integrity.
- Favorable rent-to-income dynamics support retention and steady collections
- 3-mile population and household growth expands the renter pool and leasing depth
- 1998 vintage offers targeted value-add potential through modernization and systems planning
- Elevated regional ownership costs reinforce reliance on rental housing, supporting pricing power
- Risk: neighborhood occupancy trends below metro median may require concessions and active lease management