Rare Investment Opportunity in Boone! Two Homes on One Acre for $499,000.

Opportunities like this don’t come around often, two separate homes on one acre in Boone, priced well below replacement value. Whether you’re an investor seeking strong cash flow or a parent of an Appalachian State student looking to offset housing costs, this property is tailor-made for you.

The main home is a spacious 4-bedroom, 2-bathroom residence currently rented at $2,650/month, providing immediate income. Thoughtful upgrades add character and long-term value, including tongue-and-groove ceilings, a new wood stove (2022), updated ceiling fans (2022), a newer kitchen island, and a brand-new roof (July 2025).

Just down the property, you’ll find a second home, a modern 2023 double-wide manufactured home with 2 bedrooms, 2 bathrooms, plus an additional sleeping room. Everything here is new, covered under a transferrable comprehensive warranty until July 2028, and designed for low-maintenance living. Market rent is estimated at $1,800/month, creating strong dual-income potential.

Together, these homes could conservatively generate $4,400+ per month in rental income, positioning this property as a high-yield portfolio addition. Parents of college students will also love the flexibility, rent out one home while your student lives affordably in the other, with or without roommates.

If sold separately, these homes could likely command closer to $600,000 combined, but subdivision would require acquiring additional land to meet county regulations. At $499,000 for both homes together, this is an investor’s dream: instant income, long-term upside, and built-in flexibility.