| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 S Midway Dr, Escondido, CA, 92027, US |
| Region / Metro | Escondido |
| Year of Construction | 1986 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
115 S Midway Dr Escondido Multifamily Investment
Neighborhood-level occupancy has been resilient and renter demand is supported by a high renter-occupied share, according to WDSuite’s CRE market data. For investors, the area’s steady leasing backdrop points to consistent cash flow potential at the submarket level.
Located in Escondido within the San Diego–Chula Vista–Carlsbad metro, the neighborhood rates "C" overall and is competitive among 621 metro neighborhoods on general amenities (ranked 243 of 621). Grocery and dining access stand out, with grocery density in the top percentiles nationally and restaurants performing in the upper tier, while cafes, parks, and pharmacies are limited. For investors, this translates to everyday convenience that supports renter retention, with fewer lifestyle amenities that may temper premium positioning.
The neighborhood’s renter concentration is high: the share of housing units that are renter-occupied ranks in the top quartile among 621 metro neighborhoods and in a strong national percentile. This depth of the tenant base helps support multifamily demand and can reduce leasing volatility relative to more owner-heavy areas. Neighborhood occupancy is solid by national comparison, offering a baseline for stability rather than a lease-up story.
Construction vintage averages around 1980 at the neighborhood level; this property was built in 1986. Being somewhat newer than nearby stock can improve competitive positioning versus older assets, though systems and common areas may still benefit from modernization to meet current renter expectations and support rent growth.
Within a 3-mile radius, household counts have expanded recently and are projected to increase further over the next five years, indicating a larger tenant base and supporting occupancy stability. Median incomes in the 3-mile area have risen, and projected gains reinforce depth of demand; however, rent-to-income metrics at the neighborhood level indicate affordability pressure, suggesting a need for careful lease management and retention strategies. Elevated home values in the area create a high-cost ownership market, which generally sustains reliance on rental housing and supports pricing power for well-maintained assets.
Schools in the immediate neighborhood score below the national median, which can modestly limit family-driven demand premiums. Even so, strong everyday retail and childcare coverage, combined with urban-core connectivity, underpin the area’s workforce housing profile.
Safety metrics sit below the national median, with violent and property offense rates placing this neighborhood in lower national percentiles for safety. In metro context (San Diego–Chula Vista–Carlsbad, 621 neighborhoods), the area does not lead on safety. That said, recent data show a year-over-year decline in estimated property offenses, an encouraging directional trend for risk management.
For underwriting, investors may want to account for enhanced security, lighting, and community engagement measures to support resident satisfaction and retention while monitoring continued trends in reported offenses.
Regional employers within commuting distance support a broad workforce tenant base and reinforce leasing stability. Notable nearby employers include Sysco, Gilead Sciences, NRG Energy, Qualcomm, and Celgene.
- Sysco — foodservice distribution (13.6 miles)
- Gilead Sciences — biotech (15.1 miles)
- NRG Energy — energy (15.4 miles)
- Qualcomm — semiconductors (18.4 miles) — HQ
- Celgene Corporation — biopharma (19.6 miles)
115 S Midway Dr is a 32-unit, 1986-vintage asset positioned in an urban-core Escondido neighborhood where renter-occupied housing is prevalent and occupancy performs solidly by national comparison. Being slightly newer than the neighborhood average vintage (circa 1980) offers a competitive edge versus older stock, while selective renovations can further enhance positioning. Elevated ownership costs in the area reinforce the role of multifamily as a primary housing option, supporting tenant retention and pricing power for well-operated properties.
Within a 3-mile radius, household growth has been positive and is projected to expand further, indicating a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, neighborhood-level rent-to-income ratios point to affordability pressure, suggesting operators should balance rent growth with retention initiatives. Safety metrics trail national medians, and local school ratings are below average, which argues for prudent expense allowances and thoughtful amenity programming to sustain demand.
- High renter-occupied share supports depth of demand and leasing stability
- 1986 vintage offers relative competitiveness vs. older neighborhood stock with value-add potential
- Elevated ownership costs sustain reliance on rental housing, aiding pricing power
- Expanding 3-mile household base supports occupancy and long-term demand
- Risks: below-median safety and affordability pressure require careful operations and retention planning