| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 33rd | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9060 FM 78, Converse, TX, 78109, US |
| Region / Metro | Converse |
| Year of Construction | 1983 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9060 FM 78 Converse TX Multifamily Investment Opportunity
High neighborhood occupancy and steady renter demand in San Antonio’s inner suburbs point to durable leasing performance, according to WDSuite’s CRE market data.
Located in Converse within the San Antonio–New Braunfels metro, the neighborhood carries a B rating and performs above metro median on several renter-relevant fundamentals. Grocery access is strong relative to national benchmarks and park access is competitive, while restaurant options are present though café and pharmacy density is limited. School ratings trend below national averages, which may shape the resident mix toward workforce households rather than school-driven movers.
Occupancy is a relative strength: the neighborhood’s apartment occupancy sits in the top quartile nationally, indicating that units tend to stay leased and turnover risk is moderated. Median contract rents are mid-market for the metro and have trended upward over the last five years, supporting a case for stable cash flow rather than outsized volatility.
Vintage matters at the asset level. With a 1983 construction year versus a local average stock from the mid-1990s, the property skews older than nearby inventory—an indicator for investors to plan for ongoing capital expenditures and to evaluate value‑add scope (exteriors, unit interiors, and systems) to sustain competitiveness against newer supply.
Tenure patterns support multifamily demand. The immediate neighborhood shows a meaningful share of renter‑occupied housing units, and within a 3‑mile radius, population and households have grown with additional expansion forecast—broadening the tenant base and supporting occupancy stability. In a metro where ownership is relatively accessible, this submarket’s rent levels and household income mix suggest manageable affordability pressure and potential for retention with disciplined lease management.
Safety signals are mixed and should be underwritten thoughtfully. Within the San Antonio–New Braunfels metro, this neighborhood ranks 64th out of 595 neighborhoods on overall crime—indicating higher incident levels than many parts of the metro. National comparisons trend closer to the middle of the pack, with recent data showing a modest improvement in property incidents but a notable short‑term uptick in violent incidents. Investors typically respond with enhanced lighting, access control, and partnership with local policing to support resident experience.
As always, crime patterns can vary block to block and over time. Reviewing recent, property‑specific reports and engaging local management practices can help align operating assumptions with on‑the‑ground conditions.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, including media, refining and energy, and financial services: iHeartMedia, CST Brands, Andeavor, USAA, and Valero Energy.
- iHeartMedia — media corporate offices (10.3 miles) — HQ
- CST Brands — convenience retail corporate offices (10.5 miles) — HQ
- Andeavor — refining & energy corporate offices (11.8 miles) — HQ
- USAA — financial services corporate offices (16.0 miles) — HQ
- Valero Energy — energy corporate offices (18.8 miles) — HQ
This 100‑unit, 1983 vintage asset in Converse benefits from strong occupancy fundamentals and a growing renter base. Neighborhood occupancy ranks in the top quartile nationally, and household growth within a 3‑mile radius expands the tenant pool, supporting lease‑up and retention. Rents are mid‑market for the metro and have trended upward, while rent‑to‑income levels suggest manageable affordability pressure that can support steady renewal capture when paired with prudent lease management, based on CRE market data from WDSuite.
The property’s older vintage relative to the area’s mid‑1990s average points to a clear value‑add and capital planning angle. Targeted renovations and common‑area upgrades can enhance competitive positioning against newer stock. Local amenities favor daily needs (grocery and parks) more than lifestyle retail, which aligns with workforce housing demand drivers. Key risks to underwrite include elevated neighborhood crime relative to the metro and below‑average school ratings, both of which warrant operational focus and conservative assumptions.
- High neighborhood occupancy supports leasing stability and renewal capture
- 1983 vintage offers value‑add potential versus mid‑1990s average stock
- Expanding 3‑mile population and households broaden the renter pool
- Mid‑market rents with manageable affordability pressure aid retention
- Risks: higher‑than‑metro crime signals and lower school ratings require conservative underwriting