| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 40th | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1002 SE Martin Luther King Rd, Smithville, TX, 78957, US |
| Region / Metro | Smithville |
| Year of Construction | 1981 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1002 SE Martin Luther King Rd Smithville Multifamily
Household growth in the surrounding area points to a deeper renter pool over the next few years, according to WDSuite’s CRE market data, supporting stable demand for well-managed units in this Smithville submarket.
This suburban pocket of Smithville sits within the Austin–Round Rock–Georgetown metro and offers a practical living base with everyday conveniences. Neighborhood amenities are moderate for food and groceries relative to national peers, while parks and pharmacies are sparse within the immediate area—conditions that generally favor drive-to retail patterns.
Neighborhood renter-occupied housing accounts for roughly a third of units, a renter concentration that is competitive among Austin metro neighborhoods (ranked 209 out of 527). For investors, that signals an existing tenant base with room to deepen as nearby households expand. The neighborhood occupancy rate is below the metro median but has improved over the last five years, suggesting demand has been trending in a constructive direction; these are neighborhood metrics, not property-level performance.
Within a 3-mile radius, recent population was relatively flat, but forecasts indicate meaningful population and household growth through the mid-term, implying a larger tenant base and support for occupancy stability. Median rent levels in the neighborhood have risen materially over the past five years, and the rent-to-income ratio sits in a high national percentile, indicating rents are generally sustainable for many households—helpful for retention and measured pricing power.
The property’s 1981 vintage is newer than the neighborhood’s average construction year (1970). That positioning can be competitive against older stock, while still warranting capital planning for aging systems and potential value-add interior upgrades to meet current renter expectations. Average school ratings in the neighborhood trail metro norms, which can shape tenant mix more toward workforce households rather than school-driven leasing.
Comparable safety benchmarks for this neighborhood are limited in the current dataset. Without consistent crime ranking coverage, investors typically compare county- and metro-level trends and conduct on-the-ground diligence to understand block-by-block nuances. As with many low-density suburban areas, conditions can vary by corridor and time of day; align security budgets and design features with tenant profile and leasing strategy.
Regional employment access is anchored by major Austin-area corporate employers, supporting workforce housing demand for residents willing to commute. Notable names within the broader commute shed include Oracle, Whole Foods Market, Airgas, Arconic, and Coca-Cola.
- Oracle Waterfront — technology offices (38.0 miles)
- Whole Foods Market — grocery HQ & corporate (40.6 miles) — HQ
- Airgas — industrial gases offices (41.4 miles)
- Arconic — materials & manufacturing offices (42.3 miles) — HQ
- Coca-Cola — beverage offices (43.5 miles)
This 42-unit, small-footprint multifamily asset in Smithville benefits from a renter base that is already established at the neighborhood level and is projected to expand within a 3-mile radius, pointing to a larger tenant pool and support for occupancy stability. Based on CRE market data from WDSuite, neighborhood occupancy has trended upward even while sitting below the metro median, and rent-to-income benchmarks indicate room for disciplined rent optimization without overextending residents.
Constructed in 1981, the property is newer than the area’s average vintage, positioning it ahead of older stock while still offering value-add potential through systems modernization and interior updates. Homeownership costs in the broader area remain a meaningful hurdle for many households, which tends to sustain rental demand and encourage lease retention, particularly for efficient unit layouts.
- Renter pool expansion expected within 3 miles, supporting demand and occupancy stability.
- 1981 vintage offers competitive positioning versus older neighborhood stock with value-add upside.
- Favorable rent-to-income dynamics provide scope for measured pricing and retention.
- Access to Austin-area employment nodes underpins workforce housing appeal.
- Risks: neighborhood occupancy below metro median today; limited nearby parks/pharmacies; commute distances to major job centers.