| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Poor |
| Demographics | 30th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 S Austin Rd, Eagle Lake, TX, 77434, US |
| Region / Metro | Eagle Lake |
| Year of Construction | 1980 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | $930,000 |
| Buyer | PK COURTWOOD APARTMENTS LP |
| Seller | EAGLE LAKE APARTMENTS ASSOCIATES LTD |
400 S Austin Rd Eagle Lake Multifamily Investment
Owner-leaning neighborhood dynamics with relatively low rent-to-income levels suggest a value-oriented play focused on steady occupancy and retention, according to WDSuite’s CRE market data. Pricing power may be moderate, but affordability supports durable renter demand in a smaller Texas market.
Eagle Lake’s suburban setting offers everyday convenience more than lifestyle flair. Neighborhood data indicate strong access to essentials, with grocery availability ranked 1 of 12 within the metro and positioned in the top quartile nationally by amenity density, while restaurants also rank 1 of 12 but track closer to mid-range nationally. By contrast, cafes, parks, and pharmacies are limited, which may temper walkable lifestyle appeal for some residents, based on CRE market data from WDSuite.
Rents in the neighborhood sit on the lower end locally (ranked 3 of 12) and below many U.S. peers, reinforcing a value proposition that can aid lease retention. Neighborhood occupancy is measured at 80.5% (neighborhood metric, not this property), which is below many metros and signals the need for hands-on leasing and marketing to maintain stability. The share of renter-occupied housing units is 12.8%, indicating a thinner renter base; investors should underwrite deeper tenant sourcing and community outreach to sustain traffic.
Demographic indicators aggregated within a 3-mile radius point to a modest increase in population over the past five years, with median household incomes improving faster than many peers. This combination supports a larger tenant base over time and suggests capacity for gradual rent growth management without outsized affordability pressure, as neighborhood rent-to-income is measured at roughly one-tenth.
Home values in the area are comparatively low versus national norms, and the value-to-income ratio ranks last among 12 metro neighborhoods. In practice, a more accessible ownership landscape can create competition for renters weighing entry-level home purchases. For multifamily owners, this typically argues for emphasizing convenience, quality-of-life upgrades, and service consistency to drive retention, rather than relying solely on rent-led growth.
Vintage context matters: the average neighborhood construction year is 1968, while the subject property was built in 1980. That makes the asset somewhat newer than the local median stock, offering a competitive edge versus older properties, yet systems may still be at an age where targeted renovations and capex planning can unlock value-add upside.
Neighborhood-level safety metrics are limited in the available WDSuite dataset for this location. Investors typically benchmark safety using multiple sources, including municipal reporting, insurer feedback, and historical loss runs, to understand trends at the neighborhood level rather than the property alone. Given the suburban context of Colorado County, underwriting should incorporate on-the-ground diligence and vendor estimates to align security measures with resident expectations and leasing strategy.
The area functions primarily as a local workforce hub with commuting ties to larger regional employers. This supports renter demand that values attainable pricing and drive-to-work convenience for regional corporate roles.
- Texas Instruments — semiconductor design & manufacturing (42.0 miles)
This 50-unit, 1980-vintage property positions as a value-focused multifamily asset in an owner-leaning Eagle Lake submarket. According to CRE market data from WDSuite, neighborhood rents trend on the lower end locally while rent-to-income levels are favorable, which can support retention and measured rent management. The asset is somewhat newer than the neighborhood average vintage, suggesting competitive positioning versus older stock, with an opportunity to deploy targeted capex for modernization and value-add returns.
Investor focus should be on consistent leasing, community engagement, and cost discipline given lower neighborhood occupancy and a smaller renter-occupied share. Improving incomes within a 3-mile radius and modest population growth expand the potential renter pool over time, while a more accessible ownership market argues for a service- and convenience-led strategy to sustain occupancy.
- Value positioning with favorable rent-to-income supports retention and steady leasing
- 1980 vintage is newer than neighborhood average, enabling targeted renovation upside
- Essentials access strong locally (grocery, restaurants), aligning with workforce housing demand
- Demand outlook aided by rising incomes and modest population growth within 3 miles
- Risks: lower neighborhood occupancy and accessible ownership require proactive leasing and retention strategy