| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 45th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2300 Magnolia St, Brownwood, TX, 76801, US |
| Region / Metro | Brownwood |
| Year of Construction | 1979 |
| Units | 48 |
| Transaction Date | 2007-10-25 |
| Transaction Price | $96,300 |
| Buyer | BARR CARSON CHANCE |
| Seller | SUNSET RIDGE RANCH DEVELOPMENT LLC |
2300 Magnolia St Brownwood Multifamily Value-Add Opportunity
Renter-occupied housing is meaningful in the neighborhood, supporting demand durability as occupancy has trended steady, according to WDSuite’s CRE market data. With in-place rents locally sitting below national medians, operators can compete on value while emphasizing retention.
This Inner Suburb neighborhood is rated A- and ranks 4th of 21 within the Brownwood metro, placing it in the top quartile locally for overall fundamentals. Neighborhood occupancy is competitive among Brownwood neighborhoods, and renter concentration ranks in the top quartile (3rd of 21), which signals a dependable tenant base for a 48-unit asset.
Livability skews practical rather than dense: restaurants are comparatively accessible (top quartile rank 4 of 21), while parks and pharmacies score particularly well (parks rank 1 of 21; pharmacies rank 3 of 21). Café and grocery density is limited within the immediate area, so day-to-day convenience often depends on short drives rather than walking.
Median contract rents in the neighborhood track below national medians (national percentile 37), and the local rent-to-income ratio sits near the middle of national markets (percentile 45). For investors, this combination points to manageable affordability pressure that can support lease retention and measured pricing power rather than rapid rent-ups.
Within a 3-mile radius, households have increased while average household size has edged down, and forecasts call for further household growth over the next five years. Smaller households and a modestly expanding renter pool suggest steady demand for efficient unit types, supporting occupancy stability for well-managed multifamily.
The submarket’s average construction year is 2000, while the subject was built in 1979. The older vintage implies near- to medium-term capital planning for systems, exteriors, and interiors, but it also offers value-add potential to reposition units competitively against newer stock.
Home values sit in the lower national quartiles (national percentile 25). While ownership costs are comparatively accessible in this market, the strong renter-occupied share locally helps sustain multifamily demand; operators should weigh competitive pressure from entry-level ownership against the depth of the existing renter base.
Comparable safety benchmarking for this neighborhood is not fully available in the current dataset. Investors typically evaluate neighborhood safety relative to the Brownwood metro and national norms using consistent sources over time, alongside property-level incident history and management practices. Where trend data is accessible, comparing multi-year directionality and position versus metro peers can help calibrate underwriting assumptions around loss, insurance, and security measures.
The property’s 1979 vintage creates a straightforward value-add path in a neighborhood that ranks in the top quartile locally and maintains competitive occupancy. Renter concentration is high for the metro, and neighborhood rents sit below national medians, supporting a retention-focused strategy with selective upgrades to lift effective rents without overreaching on affordability.
Within a 3-mile radius, households have grown and are projected to expand further, pointing to a larger tenant base over the medium term. According to CRE market data from WDSuite, local livability strengths include parks, pharmacies, and dining access, while limited grocery/café density underscores the importance of onsite amenities and convenience-driven operations. Balancing capital improvements with disciplined lease management should position the asset to compete against newer stock while preserving occupancy stability.
- Top-quartile neighborhood rank (4 of 21) with competitive occupancy supports stable operations
- High renter-occupied share locally deepens the tenant base and underpins demand
- 1979 vintage enables targeted value-add to close the gap with newer stock
- Household growth within 3 miles signals incremental renter pool expansion
- Risk: limited grocery/café density and relatively accessible ownership options may temper pricing power