| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 65th | Good |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2631 Harbor Cv, Rockport, TX, 78382, US |
| Region / Metro | Rockport |
| Year of Construction | 1982 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2631 Harbor Cv Rockport Multifamily Investment
Positioned in a suburban Rockport neighborhood with solid amenity access and an ownership market that sustains renter reliance, this asset offers a pragmatic value-add path, according to WDSuite’s CRE market data. Thoughtful operations can convert neighborhood-level softness in occupancy into leasing stability as demand is supported by nearby services and a balanced renter base.
Rockport’s neighborhood around 2631 Harbor Cv scores competitively for daily convenience: cafes, groceries, and parks rank among the stronger concentrations locally (ranked near the top among 9 metro neighborhoods) and place in the upper national percentiles for density. This improves livability and supports leasing by keeping everyday needs within short drives, a favorable dynamic for workforce-oriented renters.
Neighborhood-level occupancy is below national norms (23rd percentile nationally per WDSuite), signaling the need for hands-on leasing and tenant retention strategies. At the same time, contract rents benchmark slightly above national medians (61st percentile), and the rent-to-income profile sits in a healthier range (68th percentile), which can help sustain collections and renewal probability when management is proactive.
The area’s housing costs relative to incomes are elevated versus U.S. norms (value-to-income in a higher national percentile), indicating a high-cost ownership market that tends to reinforce dependence on multifamily rentals. Renter-occupied housing share is near the national middle, pointing to a balanced tenant base and depth for smaller assets like this 44-unit property.
Demographic statistics aggregated within a 3-mile radius show household counts increasing historically with smaller average household sizes, and forecasts indicate further household expansion and a higher renter share through the next planning period. For investors, this suggests a gradually expanding tenant pool that can support occupancy stability and measured rent growth when paired with targeted upgrades.
School ratings in the immediate area trend around national mid-range, and amenity strengths (particularly cafes, groceries, and parks) compare favorably within the Rockport metro. Together, these factors position the neighborhood as livable and service-rich for renters, while acknowledging that leasing requires attention given current occupancy dynamics.
Comparable crime metrics for this specific neighborhood are not available in WDSuite’s dataset. Investors typically benchmark safety by reviewing city and county trend reports alongside property-level history and management practices. A balanced approach is to compare trends to broader Rockport and Aransas County measures and incorporate on-the-ground diligence (lighting, access control, visibility) into underwriting rather than relying on block-level assumptions.
Built in 1982, the property is older than the area’s average vintage, pointing to clear value-add and capital planning opportunities that can sharpen competitive positioning against newer stock. Amenity access is a local strength, while WDSuite indicates neighborhood occupancy trails national norms—an execution risk that can be mitigated through unit upgrades, targeted concessions during lease-up, and renewal-focused operations.
Ownership costs in the area are elevated relative to incomes by national benchmarks, which typically sustains renter reliance on multifamily housing. Demographic data within a 3-mile radius shows household growth and a forecast shift toward more renters, supporting demand depth; according to CRE market data from WDSuite, rent levels sit modestly above national medians with a manageable rent-to-income profile, aiding collections and renewal potential under disciplined management.
- Value-add upside from 1982 vintage via interior refresh, exterior improvements, and systems upgrades
- Strong local amenity access (cafes, groceries, parks) supports tenant retention and leasing
- Elevated ownership costs reinforce multifamily demand; renter base near national middle offers depth
- 3-mile data indicates household growth and rising renter share, supporting a larger tenant pool
- Risk: neighborhood occupancy is softer than national norms—requires proactive leasing, renewal strategy, and competitive pricing