| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 37th | Poor |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 701 Luther St W, College Station, TX, 77840, US |
| Region / Metro | College Station |
| Year of Construction | 2009 |
| Units | 32 |
| Transaction Date | 2019-08-15 |
| Transaction Price | $2,899,600 |
| Buyer | SIA BCS REALTY LLC |
| Seller | LUTHER QUARTERS LLC |
701 Luther St W, College Station Multifamily Investment
Renter concentration is high in the immediate area, supporting a deep tenant base even as neighborhood occupancy trends require hands-on leasing management, according to WDSuite’s CRE market data.
Located in College Station’s inner suburb setting, the property sits in a neighborhood rated B- and ranked 54th among 93 metro neighborhoods. That places it near the metro midpoint, offering steady renter demand dynamics but calling for disciplined operations to outperform peers.
Renter-occupied housing is prevalent: the neighborhood shows a high renter concentration (ranked 7th of 93), and within a 3-mile radius renters account for the large majority of occupied units. For multifamily investors, this depth of tenancy can support ongoing leasing activity and renewal velocity, though price sensitivity should be expected.
Neighborhood occupancy registers below the metro median (ranked 68th of 93; lower national percentile), which signals potential volatility and the need for proactive marketing, unit turns, and amenity positioning to stabilize. Median contract rents are around the metro middle (ranked 28th of 93), indicating room for thoughtful value-add to compete without overreliance on aggressive pricing.
Amenity access is mixed: grocery availability ranks 21st of 93 and sits in a stronger national percentile, while cafes, parks, and pharmacies are limited in the immediate neighborhood. For investors, this suggests that in-property convenience features (package, Wi‑Fi, study/work lounges) may help capture demand and retention relative to nearby stock.
Demographics within a 3-mile radius reflect a student- and young-professional weighted profile (a large 18–34 share), with recent population and household growth and a further increase in households projected. This points to a larger tenant base over time, supporting leasing momentum even as household sizes shift and incomes diversify.
Safety indicators are mixed versus broader benchmarks. The neighborhood’s overall crime positioning sits around the national middle (overall crime national percentile in the low‑to‑mid 50s), which is competitive among College Station–Bryan neighborhoods (ranked 37th of 93). Property and violent offense rates have improved year over year, with double‑digit declines reported by WDSuite’s datasets, suggesting a favorable recent trend to monitor.
Nationally, violent offense positioning is near midpack (national percentile in the mid‑40s), while property offenses track somewhat weaker (national percentile in the mid‑30s). For investors, the takeaway is to underwrite standard security measures and lighting/common‑area visibility, while recognizing improving momentum and metro‑competitive standing rather than making block‑level assumptions.
Built in 2009, the 32‑unit asset is slightly newer than the neighborhood average, offering competitive positioning versus older stock while still warranting routine system updates and light modernization over the hold. The immediate neighborhood shows a high renter concentration and a tenant base dominated by 18–34 year‑olds within a 3‑mile radius, which supports consistent leasing and renewals; however, below‑median neighborhood occupancy means execution will rely on active leasing management and targeted concessions during softer periods.
Households in the 3‑mile area have expanded and are projected to grow further, pointing to an expanding renter pool and sustained demand for smaller formats. At the same time, a high rent‑to‑income ratio in the neighborhood implies affordability pressure, so pricing strategies and amenity value should emphasize retention. According to commercial real estate analysis from WDSuite, neighborhood rents sit near the metro middle, creating space for value‑add tactics (in‑unit finishes, connectivity, study/work lounges) rather than outsized rent pushes to drive NOI.
- 2009 vintage offers competitive positioning vs. older stock, with manageable modernization needs
- High renter concentration and expanding 3‑mile household base support leasing and renewals
- Neighborhood rents near metro middle enable value‑add to drive NOI without overreliance on pricing
- Risk: below‑median neighborhood occupancy requires active leasing and strategic concessions
- Risk: elevated rent‑to‑income warrants careful rent growth pacing and retention planning