| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 74th | Best |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 146 Westlake Dr, Rockport, TX, 78382, US |
| Region / Metro | Rockport |
| Year of Construction | 1983 |
| Units | 33 |
| Transaction Date | 2005-06-27 |
| Transaction Price | $1,625,000 |
| Buyer | AOM ENTERPRISES LLC |
| Seller | GOOSE ISLAND CONDOS LLC |
146 Westlake Dr, Rockport TX Multifamily Investment
Neighborhood indicators point to a small, ownership-heavy renter base where pricing and leasing are driven by niche demand, according to WDSuite’s CRE market data. Investors should underwrite for targeted renter profiles and operational discipline rather than broad-based velocity.
Rockport’s suburban setting offers coastal lifestyle appeal but relatively limited day-to-day retail density nearby. Amenity signals sit on the lower end of national comparisons (amenities around the neighborhood score in the low national percentiles), so residents often rely on regional nodes for groceries, cafes, and services. For multifamily operators, this favors properties that offset convenience gaps with on-site parking, package handling, and responsive maintenance.
Neighborhood-level fundamentals are mid-pack within the Rockport metro (overall neighborhood rating B- and a middle-of-the-pack rank out of 9 metro neighborhoods). By contrast, demographic quality is a relative strength — the neighborhood’s demographic profile sits in the top quartile among Rockport neighborhoods and above the national median, based on WDSuite’s CRE market data. This mix points to stable household demand but not necessarily high-frequency retail foot traffic in the immediate area.
Tenure metrics indicate a low share of renter-occupied housing at the neighborhood level, which implies a thinner, more targeted renter pool rather than broad, commodity multifamily demand. For investors, that often translates to a focus on retention, reputation, and unit-level differentiation. Within a 3-mile radius, recent data shows modest population growth and a small increase in households, which supports a gradual expansion of the renter pool and can help sustain occupancy when paired with disciplined lease management.
Ownership costs in the area skew elevated relative to incomes in national context (home values and value-to-income metrics sit above national midpoints). In practical terms, a high-cost ownership market can reinforce reliance on rental options for certain segments, supporting lease retention and helping preserve pricing power for well-operated assets.
Comparable, block-level crime data is not available for this neighborhood in WDSuite’s dataset. Investors typically benchmark safety using a combination of city reports, local law enforcement summaries, and property-level incident histories, and then compare those findings to submarket norms. Given the suburban context and small population base, underwriting should incorporate practical measures such as lighting, access control, and resident engagement, along with insurance and security line items tailored to property operations.
This 33-unit asset in Rockport is positioned for steady, niche renter demand rather than broad, high-velocity leasing. The surrounding neighborhood ranks mid-pack locally but shows stronger demographic quality, while the ownership-heavy housing stock means multifamily competes as a targeted alternative. According to CRE market data from WDSuite, income and home value signals are consistent with a high-cost ownership environment, which can support retention for properties that deliver convenience and consistent operations.
Forward-looking demographics within a 3-mile radius indicate modest population growth and an increase in households, suggesting a gradual expansion of the tenant base. Operators should emphasize renewals, service quality, and unit-level improvements to capture demand in an amenity-light setting, while thoughtfully underwriting marketing and seasonality to manage lease-up cadence.
- Demographic quality and household growth support a slowly expanding renter pool.
- High-cost ownership context can reinforce multifamily demand and lease retention.
- Operational focus on renewals and service can sustain occupancy in a niche-demand area.
- Risk: Low renter concentration and limited nearby amenities may slow leasing velocity; marketing and concessions planning are important.