| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 49th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1402 Holleman Dr, College Station, TX, 77840, US |
| Region / Metro | College Station |
| Year of Construction | 1976 |
| Units | 40 |
| Transaction Date | 2005-07-14 |
| Transaction Price | $1,040,000 |
| Buyer | HOLLEMAN BY THE PARK LLC |
| Seller | OHENDALSKI DAVID |
1402 Holleman Dr, College Station Multifamily Investment
Positioned in an Inner Suburb with stable renter demand and above-metro occupancy, this 40-unit asset offers durable cash flow characteristics, according to WDSuite’s CRE market data. Pricing power is supported by a high renter concentration and a homeownership market that skews costlier relative to local incomes.
The property sits within one of College Station’s stronger neighborhoods, rated A and ranked 6 out of 93 metro neighborhoods, placing it in the top quartile locally. Amenity access trends favor daily needs rather than lifestyle retail: grocery and pharmacy density rank near the top of the metro (ranks 10 and 1 of 93, respectively), while parks are also plentiful (rank 2 of 93). Nationally, these amenity measures place the neighborhood in the upper quartiles, which supports resident convenience and lease retention.
Neighborhood occupancy stands in the top quartile among 93 metro neighborhoods and is above national medians (74th percentile), signaling stable leasing conditions for multifamily. Median asking rents in the neighborhood track around the metro median (41st national percentile), which helps maintain demand depth without overreliance on premium pricing. Importantly, approximately 89.5% of housing units are renter-occupied in the neighborhood (ranked 2 of 93; 100th national percentile), indicating a deep tenant base and steady turnover velocity for professionally managed properties.
Within a 3-mile radius, demographics are shaped by a large 18–34 cohort and steady population growth in recent years, with WDSuite data indicating continued household expansion over the next five years. Projected increases in households suggest a larger tenant base and support for occupancy stability, even as average household size moderates. For investors, this implies consistent demand for smaller-format units and student/young-professional housing.
Home values in the neighborhood sit around national midpoints, but the value-to-income ratio ranks high (91st percentile nationally), reflecting a higher-cost ownership market relative to local incomes. For multifamily, that dynamic typically sustains renter reliance and supports lease retention, while the neighborhood’s average school rating sits in the top quartile locally (rank 12 of 93; 61st percentile nationally), adding a family-friendly layer that can broaden the renter profile.
WDSuite’s safety indicators show mixed signals relative to peers. At the metro level, the neighborhood’s safety rank is toward the less favorable half (rank 58 of 93), while nationally it sits below the midpoint for overall crime (36th percentile). Property offense rates trend somewhat better than national midpoints (61st percentile), whereas violent offense levels approximate national averages (48th percentile). Recent year-over-year changes indicate an uptick, so investors should underwrite prudent security measures and monitor trendlines rather than relying on block-level assumptions.
For underwriting, frame safety as a comparative factor: competitive amenity access and strong renter concentration can support leasing, but operators may want to emphasize lighting, access control, and coordination with local patrols to maintain retention and protect NOI.
Built in 1976, the asset’s vintage points to potential value-add via targeted interior updates and systems modernization, while its 40-unit scale suits hands-on operational improvements. Neighborhood indicators show top-quartile occupancy among 93 metro neighborhoods and a deep renter-occupied housing base, supporting steady leasing. According to CRE market data from WDSuite, ownership costs relative to local incomes are elevated (high value-to-income ratio nationally), which typically reinforces reliance on rental housing and supports retention.
Within a 3-mile radius, population and household growth are projected to expand, broadening the tenant pool and supporting occupancy stability. Neighborhood-level rents sit around metro medians, suggesting room to compete on finish, service, or unit mix rather than relying solely on rate. Key underwriting considerations include vintage-driven capex, moderate income levels that call for careful rent-to-income management, and safety trends that warrant standard security and operational protocols.
- Top-quartile neighborhood occupancy and strong renter concentration support stable leasing
- 1976 vintage offers value-add potential through unit and system upgrades
- Ownership costs vs. income favor sustained rental demand and retention potential
- 3-mile radius shows growth in households, indicating a larger tenant base over time
- Risks: vintage-driven capex, below-median income levels, and safety trends requiring active management