For Sale
$799,000

179 Hillside DrBoone, NC 28607

Turn-key duplex, walk to App State

Overview

Added:
Jan 24
Days on market:
73
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.

Highlights

  • $799,000 asking price for a multifamily investment property.
  • 6.23% cap rate with a $49,757 Net Operating Income (NOI).
  • Two-unit duplex located in Boone, NC, within walking distance of Appalachian State University.
  • Currently fully leased, generating $68,400 in annual gross rent.
  • Recently updated with new flooring, appliances, bathrooms, and kitchen upgrades.

Property Details for 179 Hillside Dr

Property type
Dormitories, Student housing
Units
2

Location Insight

City
Boone
County
Watauga
State
North Carolina
Latitude
36.2152302
Longitude
-81.6704255
179 Hillside Dr, Boone, North Carolina

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179 Hillside Dr
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