| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 51st | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17690 McLaughlin Ave, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 2011 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17690 McLaughlin Ave Morgan Hill Multifamily Investment
This 49-unit property built in 2011 sits in an inner-suburb neighborhood with above-average housing fundamentals and strong renter affordability, supported by elevated median incomes and stable neighborhood-level occupancy according to CRE market data from WDSuite.
The property is located in an inner-suburb neighborhood of Morgan Hill within the San Jose-Sunnyvale-Santa Clara metro, rated B+ overall and ranking 106th among 344 metro neighborhoods. The neighborhood scores in the 86th percentile nationally for housing fundamentals and 76th percentile for amenity access, reflecting above-average livability and tenant appeal. Built in 2011, this property is newer than the neighborhood's average construction year of 1992, positioning it competitively with reduced near-term capital expenditure needs relative to older stock.
Neighborhood-level occupancy stands at 95.5%, ranking in the 74th percentile nationally and indicating stable absorption despite a modest decline over the prior five years. Renter-occupied units represent 44.2% of housing tenure in the neighborhood, ranking in the 84th percentile nationally and supporting a deep tenant base for multifamily demand. Median contract rent in the neighborhood is $1,967, in the 91st percentile nationally, though the low rent-to-income ratio of 0.21 (24th percentile nationally) signals strong renter affordability and lower retention risk compared to more cost-burdened markets.
Within a 3-mile radius, the area is home to approximately 42,089 residents across 13,247 households, with median household income of $159,297—well above regional and national benchmarks. Over the next five years, median household income is projected to rise to $191,301, a 20.1% increase, while median rent is forecast to climb to $3,104, up 27.6%. Population is expected to decline modestly by 2.5%, yet household count is forecast to grow by 24.0%, reflecting smaller household sizes and continued demand for rental housing. The area's elevated median home value of $983,455 (97th percentile nationally) limits ownership accessibility and reinforces sustained reliance on rental housing, supporting tenant retention and lease-up velocity.
Amenity density is robust, with 25.02 restaurants per square mile (97th percentile nationally), 3.47 childcare centers per square mile (97th percentile nationally), and 2.08 parks per square mile (94th percentile nationally), all contributing to tenant appeal and retention. The neighborhood's average school rating of 2.0 out of 5 ranks in the 37th percentile nationally, a consideration for families but less material for workforce renters. COVID resilience ranked in the 50th percentile nationally, indicating moderate employment stability during recent downturns. Overall, the neighborhood presents a balanced investment profile with strong income growth, stable occupancy, and favorable affordability dynamics for multifamily operators.
Crime data for this specific neighborhood is not available in the current dataset, limiting direct comparisons to metro or national safety trends. Investors should conduct independent due diligence, including consultation with local law enforcement and review of property-level incident reports, to assess safety conditions and their potential impact on tenant retention and insurance underwriting. In the absence of quantified crime metrics, broader context—such as the neighborhood's B+ overall rating, strong income levels, and stable occupancy—suggests a relatively stable environment, though site-specific verification remains essential for risk management and asset planning.
The property benefits from proximity to major corporate offices and headquarters in the South Bay technology corridor, supporting workforce housing demand and commute convenience. Key nearby employers include:
- IBM Silicon Valley Lab — technology and research (6.7 miles)
- eBay — e-commerce and technology (18.7 miles) — HQ
- Adobe Systems — software and digital media (19.0 miles)
- Netflix — streaming media and entertainment (19.1 miles) — HQ
- PayPal Holdings — financial technology (22.3 miles) — HQ
This 49-unit property in Morgan Hill offers a compelling blend of stable occupancy, strong income growth, and favorable affordability dynamics within the San Jose metro. Neighborhood-level occupancy of 95.5% ranks in the 74th percentile nationally, reflecting consistent absorption, while the low rent-to-income ratio (0.21) mitigates retention risk and supports lease management flexibility. Built in 2011, the property is newer than the neighborhood average, reducing near-term capital planning requirements and enhancing competitive positioning. Within a 3-mile radius, median household income of $159,297 is projected to rise 20.1% over five years, expanding the renter pool and supporting pricing power, while a 24.0% increase in household count offsets modest population decline and reinforces multifamily demand.
Elevated median home values of $983,455 (97th percentile nationally) limit ownership accessibility and sustain rental demand, a dynamic that benefits tenant retention and lease-up velocity. Proximity to major South Bay employers—including IBM, eBay, Adobe, Netflix, and PayPal—supports workforce housing appeal and commute convenience. However, investors should note the absence of crime data in the current dataset, requiring independent verification of safety conditions. Additionally, the neighborhood's average school rating of 2.0 out of 5 may weigh on appeal to family renters, though the broader income and employment profile supports workforce tenant demand. Overall, the property presents a balanced risk-return profile anchored by strong fundamentals and location within a high-income, supply-constrained market.
- Neighborhood-level occupancy of 95.5% ranks in the 74th percentile nationally, reflecting stable absorption and tenant demand
- Median household income projected to grow 20.1% to $191,301 over five years, supporting pricing power and lease renewals
- Low rent-to-income ratio (0.21, 24th percentile nationally) indicates strong renter affordability and reduced retention risk
- Proximity to major South Bay technology employers (IBM, eBay, Adobe, Netflix, PayPal) supports workforce housing demand
- Crime data unavailable; independent due diligence required to assess safety conditions and insurance underwriting impact