| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 913 Rock Cliff Rd, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1998 |
| Units | 69 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
913 Rock Cliff Rd, Boone NC Multifamily Investment
In an owner-leaning, higher-income suburban pocket of Boone, renter demand is supported by elevated ownership costs and stable household incomes, according to WDSuite’s CRE market data. Expect leasing driven more by affordability and convenience than by walkable amenities.
Boone’s 913 Rock Cliff Rd sits in a suburban neighborhood with a B rating and a rank of 10 out of 21 among Boone neighborhoods — above metro median in overall standing. Local livability skews toward quiet residential streets rather than dense retail; on-site features and parking will matter more than walkability in supporting leasing.
Renter dynamics are shaped by an owner-tilted housing base within a 3-mile radius, where roughly one-quarter of housing units are renter-occupied. This points to a defined but selective tenant pool and suggests leasing strategies should emphasize value, convenience, and retention. Neighborhood occupancy levels have trended up over the past five years but remain comparatively soft versus national norms, so underwriting should prioritize unit readiness and leasing velocity over aggressive push pricing.
Income and education indicators are constructive for collections and renewal performance. Median household income in the neighborhood ranks near the top of the Boone metro, and the share of residents aged 25+ with a bachelor’s degree is in the top quartile nationally, based on CRE market data from WDSuite. Rent-to-income levels are favorable, which can support retention and measured rent steps without overextending tenants.
For-sale housing is a high-cost ownership market relative to national benchmarks, which can sustain reliance on multifamily housing even as absolute rent levels remain moderate by national standards. Investors should expect renter demand to be driven by households prioritizing attainable monthly payments and proximity to Boone employment nodes rather than urban amenity density.
WDSuite does not provide publishable crime metrics for this specific neighborhood at this time. Investors commonly benchmark neighborhood safety by comparing recent trends to Boone metro averages and corroborating with local property management feedback. Given the suburban context, a practical approach is to assess visibility, lighting, and access controls during due diligence rather than relying on block-level assumptions.
This 69-unit property, built in 1998, is slightly older than the neighborhood’s average vintage, creating clear value-add and capital planning angles — from interior refreshes to systems modernization — to strengthen competitive positioning against newer stock. The surrounding owner-leaning area keeps the renter pool selective, but household incomes and educational attainment are strong, and rent-to-income levels indicate room for disciplined, retention-oriented rent management. According to CRE market data from WDSuite, neighborhood rents have risen over the last five years while occupancy remains comparatively soft, favoring investors who can drive lease-up via targeted renovations and effective marketing.
Demographics aggregated within a 3-mile radius signal gradual population growth historically and a projected shift toward smaller household sizes, which can support demand for professionally managed rentals even as overall population moderates. With elevated ownership costs reinforcing renter reliance on multifamily housing, the thesis centers on durable collections, operational execution, and measured rent growth rather than outsized appreciation.
- 1998 vintage supports a clear value-add program (interiors/systems) to enhance rent and retention
- Owner-leaning area with solid incomes and top-tier educational attainment underpins credit quality
- Favorable rent-to-income profile enables disciplined increases with reduced turnover risk
- High-cost ownership context sustains renter reliance on multifamily housing
- Risk: neighborhood occupancy is comparatively soft; success hinges on renovation scope, marketing, and lease management