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    OFF-MARKET
    Dormitories

    179 Hillside Dr, Boone, NC 28607

    Entity Owned 1-yr Hold
    Property ID
    US53-2554630
    Property summary
    AI-generated overview

    This meticulously maintained, two-unit duplex in Boone, North Carolina, presents a compelling investment opportunity. Located at 179 Hillside Dr, 28607, this property enjoys a prime location within walking distance of Appalachian State University's campus and downtown Boone, ensuring consistent high demand in the robust student rental market. Currently fully leased, generating a gross annual income of $68,400 (commencing August 2025), this duplex boasts a strong 6.23% cap rate and a net operating income (NOI) of $49,757. Recent upgrades include new flooring, appliances, bathrooms, kitchen cabinets and countertops, interior and exterior paint, gutters, and a roof replacement in 2019. Each unit features a washer/dryer, and ample parking is available for tenants. The property's total square footage is based on appraiser measurements provided by the seller, with unit-specific square footage details available in the provided floor plans. A 24-hour notice is required for showings. Note that photos were taken when the units were vacant. Asking price is $799,000.

    Property profile
    Verified
    Property type Dormitories
    UPID US53-2554630
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Vvg Properties I LLC · 1 yrs held
    Vvg Properties I LLC
    since 2025
    2 recorded transactions
    2025
    $660,000
    2020
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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