| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 49th | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1330 Milam St, Luling, TX, 78648, US |
| Region / Metro | Luling |
| Year of Construction | 2006 |
| Units | 22 |
| Transaction Date | 2006-01-26 |
| Transaction Price | $1,875,000 |
| Buyer | CENTER FOR HOUSING AND ECONOMIC OPPORTUN |
| Seller | BAKER LACY DWAYNE |
1330 Milam St Luling 22-Unit Multifamily Opportunity
Neighborhood occupancy trends are steady and renter demand is supported by a high-cost ownership market relative to incomes, according to WDSuite’s CRE market data. This sets a practical backdrop for income stability while leaving room for selective value-add execution.
Located in Luling within the Austin–Round Rock–Georgetown metro, the property sits in a rural neighborhood rated "C" that shows balanced fundamentals rather than momentum-driven volatility. Neighborhood occupancy is healthy relative to national norms, supporting baseline leasing stability for smaller assets.
Livability indicators are mixed. Grocery access is reasonable while cafes, pharmacies, and childcare options are sparse, reflecting a low-amenity, small-market setting. Park access scores in the top quartile nationally, offering outdoor recreation that can aid resident retention even as retail density remains limited. Average school ratings are mid-range for the area and should be weighed in underwriting for family-oriented unit mixes.
Tenure patterns indicate a moderate renter base. Within a 3-mile radius, roughly a third of housing units are renter-occupied, signaling sufficient depth for a 22-unit asset while not exposing owners to oversupply risk common in highly renter-concentrated pockets. Rent-to-income levels at the neighborhood scale are moderate, which can help manage lease renewal risk and reduce turnover sensitivity to modest rent adjustments.
Demographic trends within a 3-mile radius point to household expansion despite flat-to-slightly lower recent population counts, implying smaller household sizes and potential demand for rental housing. Forward-looking projections show growth in both population and households over the next five years, expanding the local tenant base and supporting occupancy, based on CRE market data from WDSuite. For investors, this suggests a steady demand backdrop rather than a purely growth-dependent thesis.
Vintage also supports competitive positioning: built in 2006 versus a neighborhood average construction year around the late 1960s, the asset should compare favorably to older local stock. Investors should still underwrite normal mid-life systems updates and modernization to maintain positioning against newer deliveries in the wider metro.
Safety metrics are comparatively favorable. Violent-offense indicators benchmark well above national averages (i.e., safer than most neighborhoods nationwide), and property-offense measures also compare strongly on a national basis. These patterns indicate an environment that can support resident retention and predictable operations.
Recent trend data shows a slight improvement in violent-offense rates year over year, while property-related incidents have increased on a recent comparison. For underwriting, it is prudent to assume stable-to-mixed safety dynamics and budget for appropriate site-level measures (lighting, access control) rather than relying solely on past performance.
Regional employers across Greater Austin broaden the employment base and can contribute to leasing durability for residents willing to commute. The employment anchors below align with insurance, technology, and retail headquarters functions that underpin diverse white-collar and support roles.
- State Farm Insurance — insurance services (39.0 miles)
- Oracle Waterfront — technology offices (39.6 miles)
- Whole Foods Market — retail corporate offices (41.7 miles) — HQ
1330 Milam St offers a small-scale, defensible multifamily position in a rural Austin metro community where neighborhood occupancy is solid and the ownership market’s value-to-income dynamics reinforce renter reliance on multifamily housing. Built in 2006, the asset is newer than much of the local housing stock, providing a competitive starting point with potential to capture steady tenancy while planning targeted mid-life upgrades. According to CRE market data from WDSuite, rent burdens in the area are moderate, which supports renewal probability and measured pricing power.
Within a 3-mile radius, households have grown even as recent population counts were flat, implying smaller household sizes and a broader renter pool. Amenity density is limited but park access ranks well nationally, and regional employers in Greater Austin add depth to the economic base for residents with commutable jobs. Key risks include small-market scale, limited retail/service density, and mixed short-term safety trends for property incidents—factors best addressed through conservative underwriting and proactive asset management.
- 2006 vintage versus older neighborhood stock supports competitive positioning; plan for selective systems and interior updates
- Neighborhood occupancy and moderate rent-to-income ratios support renewal rates and stable cash flow
- 3-mile household growth and projected demand expansion increase the local tenant base
- High-cost ownership context reinforces renter demand and aids lease retention
- Risks: small rural market, limited amenities, distance to major employers, and recent uptick in property-related incidents