| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 917 Rock Cliff Rd, Boone, NC, 28607, US |
| Region / Metro | Boone |
| Year of Construction | 1997 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
917 Rock Cliff Rd, Boone NC Multifamily Investment
Positioned in a high-cost ownership pocket of Boone, this asset benefits from a steady renter base and manageable affordability pressure, according to WDSuite’s CRE market data. The core investor takeaway is durable demand from households that favor rentals over ownership in this submarket.
Livability and demand drivers trend supportive for multifamily. Neighborhood data indicate elevated educational attainment — the share of adults with a bachelor’s degree ranks among the top quartile nationally — and household incomes that are competitive within the Boone metro. Home values sit in the top quartile nationally, creating a high-cost ownership market that tends to sustain rental demand and support lease retention.
Amenities within the immediate neighborhood are limited, with few cafés, parks, or retail mapped locally; residents typically rely on nearby corridors for daily needs. For investors, this means marketing should emphasize accessibility by car and value positioning rather than walkable retail. School ratings were not available in the dataset and are not evaluated here.
Neighborhood occupancy metrics reflect the broader area, not the property. Based on WDSuite’s CRE market data, neighborhood occupancy is weaker than many Boone neighborhoods (below the metro median), which points to the need for hands-on leasing management and targeted marketing to stabilize performance. At the same time, rent-to-income levels in the neighborhood trend favorable for landlords, supporting pricing power while keeping retention risk manageable.
Demographics within a 3-mile radius show recent population growth with rising household counts and a modest uptick in average household income. Forward-looking projections point to smaller household sizes and more households over the next five years, which typically expands the renter pool and supports occupancy stability, even if headline population growth moderates. Median contract rent in this radius has been rising and is projected to continue growing, reinforcing the long-run case for consistent rent roll performance.
Comparable safety data for this specific neighborhood were not available in the WDSuite dataset. Investors should benchmark police-reported trends and property-level incident history against Boone and Watauga County to understand relative positioning and any recent trend shifts. As always, evaluate visibility, lighting, and on-site measures during due diligence rather than relying on block-level assumptions.
Built in 1997, the property is slightly older than the neighborhood average stock, suggesting pragmatic capital planning and selective value-add (exterior refresh, common-area upgrades, systems modernization) can sharpen competitiveness versus newer deliveries. According to CRE market data from WDSuite, the surrounding neighborhood skews high-cost for ownership and shows rent-to-income levels that support pricing without acute affordability pressure, a combination that typically reinforces renter reliance on multifamily housing.
With 42 units and compact average unit sizes, the asset can position toward cost-conscious renters seeking efficient layouts. Neighborhood occupancy trends lag the metro median, so the underwriting case centers on disciplined leasing execution and targeted marketing. Demographics within a 3-mile radius point to growing household counts and smaller household sizes over time, which generally expand the tenant base and support steady absorption and retention.
- High-cost ownership context supports sustained rental demand and lease retention
- 1997 vintage offers value-add potential through selective renovations and systems updates
- Growing household counts within 3 miles support a larger tenant base over time
- Compact unit sizes can enhance affordability positioning and rent-per-square-foot potential
- Risks: neighborhood occupancy below metro median and limited walkable amenities require proactive leasing and marketing