| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 14th | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 Blackjack St, Lockhart, TX, 78644, US |
| Region / Metro | Lockhart |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
801 Blackjack St, Lockhart TX — 24-Unit Value-Add Multifamily
Older 1970s construction and a moderate renter base suggest practical value-add potential with stable day-to-day operations, according to WDSuite s CRE market data. Neighborhood occupancy trends sit around the national middle, pointing to steady leasing fundamentals rather than outsized volatility.
Located in Lockhart s Inner Suburb context within the Austin-Round Rock-Georgetown metro, the neighborhood rates below the metro median (ranked 475 among 527 metro neighborhoods). For investors, that positions the area as a workforce-oriented locale where durable demand can be supported by pricing discipline and operational focus rather than premium amenities.
Amenity access is mixed: restaurants score competitively versus national peers (around the mid-60s percentile), and grocery access tracks near the national middle. Parks, cafes, and childcare are comparatively sparse, which can temper lifestyle appeal but also keeps the value proposition centered on attainable rents and practical commute patterns.
The 3-mile radius shows recent population and household growth with further gains projected, pointing to a larger tenant base and potential renter pool expansion over the next cycle. Renter-occupied share is in the mid-to-high 30s locally, indicating a moderate renter concentration that can support multifamily absorption without relying on in-migration alone.
Neighborhood occupancy trends are slightly above the national middle, and median contract rents track near the lower mid-range of the metro, supporting a thesis of attainable pricing and stable lease-up. Elevated home values in central Austin make Lockhart a comparatively more accessible ownership and rental market; for multifamily, that can sustain renter reliance on cost-effective options while still requiring attention to lease management where ownership alternatives are attainable.
Vintage and implication: With a 1974 construction year versus a neighborhood average around 2000, this asset is older than nearby stock, underscoring capital planning needs (exteriors, systems, unit interiors). That age can also create value-add runway if renovations are executed to meet workforce expectations and improve competitive positioning against newer properties.
Safety indicators are mixed when viewed at different scales. Within the Austin metro, the neighborhood s crime rank sits on the higher-incident side compared to peers (lower rank among 527 metro neighborhoods), while national percentiles place overall conditions around or modestly above the national middle. For investors, the takeaway is to underwrite with prudent security and site-management measures rather than assume premium safety positioning.
Property-related incidents have eased modestly year over year, which is directionally positive, but monitoring trend stability remains important. Practical steps such as lighting, access control, and community standards can help support retention and protect NOI without relying on broader area improvements.
Regional employment is anchored by Austin-area corporate offices, supporting workforce housing dynamics for residents willing to commute. Key nearby employers include Oracle Waterfront, State Farm Insurance, Whole Foods Market, New York Life, and Airgas.
- Oracle Waterfront — technology offices (25.8 miles)
- State Farm Insurance — insurance (26.0 miles)
- Whole Foods Market — corporate offices (28.0 miles) — HQ
- New York Life — financial services (34.2 miles)
- Airgas — industrial gases (35.0 miles)
This 24-unit property offers a straightforward workforce housing play in Lockhart, with attainable rents, a moderate renter-occupied share, and neighborhood occupancy trends around the national middle. The 1974 vintage suggests clear value-add pathways unit updates, exterior refresh, and systems work to improve competitive standing versus a younger neighborhood stock. Population and household growth within a 3-mile radius expand the tenant base, supporting occupancy stability and ongoing leasing velocity.
Based on CRE market data from WDSuite, local rents and value-to-income dynamics remain relatively accessible for the Austin metro, reinforcing demand among cost-conscious households while requiring disciplined lease management where ownership is within reach. The opportunity centers on durable operations and targeted renovations rather than outsized rent premiums, with risk management around safety positioning and amenity-light surroundings.
- 1974 vintage enables value-add through interior upgrades and system modernization
- 3-mile population and household growth support a larger renter pool and occupancy stability
- Attainable rent positioning for workforce households bolsters retention and leasing
- Proximity to Austin employment centers underpins commuter demand
- Key risks: older asset capex needs, mixed safety signals, and limited nearby amenities