| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 915 Rock Cliff Rd, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1997 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
915 Rock Cliff Rd, Boone NC Multifamily Investment
Positioned in a suburban Boone submarket with elevated home values and steady renter demand, this 42-unit, 1997-vintage asset offers durable cash-flow potential and value-add options, according to WDSuite s CRE market data. Neighborhood-level metrics indicate a stable, educated renter base that can support occupancy through cycles.
Boone s neighborhood cluster surrounding 915 Rock Cliff Rd carries a B rating and ranks 10th out of 21 metro neighborhoods, placing it above the metro median and competitive for long-term multifamily positioning. The setting is suburban with limited in-neighborhood retail density; residents typically access services along established Boone corridors, which investors should factor into leasing narratives and parking assumptions.
The average construction year in the neighborhood is around 2000 (ranked 4th of 21, top quartile nationally). With a 1997 completion, the property is slightly older than nearby stock, suggesting conventional capital planning and selective renovations could enhance competitiveness versus newer comparables while managing systems nearing mid-life.
Within a 3-mile radius, demographics show recent population growth alongside rising household counts and incomes, indicating a larger tenant base over time. Forward-looking data point to continued household expansion even as average household size trends lower; for investors, this supports resilience in multifamily demand and leasing velocity. Renter-occupied share within 3 miles is roughly one-quarter of housing units, reflecting a moderate renter concentration that can underpin demand without relying on a highly transient base.
Home values in the neighborhood rank 4th of 21 and sit in the higher national percentiles, which signals a high-cost ownership market that tends to sustain reliance on rental housing. Neighborhood median contract rents remain relatively accessible versus incomes, helping support retention and occupancy management; this dynamic, grounded in commercial real estate analysis from WDSuite, can provide room for pragmatic revenue optimization rather than outsized rent pushes.
Comparable, neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark city and county trend data alongside property-level history when underwriting, and supplement with local law enforcement and insurance carrier inputs to calibrate risk assumptions. Use caution with block-by-block interpretations and prioritize multi-year, area-wide trends.
This 42-unit, 1997-vintage asset in suburban Boone benefits from an educated, higher-income renter base and a high-cost ownership backdrop that supports steady multifamily demand. The property is slightly older than the neighborhood average, creating potential for targeted value-add—particularly modernization and common-area upgrades—to strengthen positioning against newer stock. According to CRE market data from WDSuite, neighborhood rents remain manageable relative to incomes, aiding retention while leaving room for measured revenue strategies.
Neighborhood standing is above the metro median, with household growth expected even as average household size moderates within a 3-mile radius—an investor-friendly signal for maintaining a broad tenant base. The suburban, amenity-light location should be matched with pragmatic leasing, parking, and service offerings, and capital plans should account for vintage-related systems and finishes.
- High-cost ownership market reinforces renter reliance and supports leasing stability
- 1997 vintage offers value-add potential to compete with newer stock
- Above-median neighborhood standing with household growth broadens the tenant base
- Rents relatively manageable versus incomes, aiding retention and measured pricing power
- Risks: amenity-light suburban setting and vintage-related capex require prudent underwriting