| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 64th | Best |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5071 Fm 2673, Canyon Lake, TX, 78133, US |
| Region / Metro | Canyon Lake |
| Year of Construction | 2011 |
| Units | 79 |
| Transaction Date | 2019-10-14 |
| Transaction Price | $11,700,000 |
| Buyer | CANYON LAKE LC |
| Seller | 5071 FM 2673 HOLDING LLC |
5071 FM 2673 Canyon Lake Multifamily Opportunity
2011 construction offers relatively competitive positioning versus older local stock, supporting renter appeal in a suburban pocket of the San Antonio–New Braunfels metro, according to WDSuite’s CRE market data. Focused leasing and amenities that fit workforce demand can help offset a thinner neighborhood renter base.
Canyon Lake’s suburban setting balances lake-oriented recreation with everyday needs. Amenity access is competitive among San Antonio–New Braunfels neighborhoods (ranked 217 out of 595), with parks and basic services present but fewer cafes and pharmacies nearby; investors should plan for on-site conveniences to support retention.
Schools rate strongly for the area (average 4.0 out of five; 28 of 595 in-metro and in the top quartile nationally), which can bolster family-driven housing stability and longer tenures. Neighborhood rents benchmark in the upper half nationally, while the rent-to-income profile indicates relatively manageable lease burdens, aiding renewal strategies.
The property’s 2011 vintage is newer than the neighborhood average (2001). For investors, that typically means more competitive unit finishes and common areas versus older stock, with capital planning focused on targeted modernization and systems upkeep rather than full-scope repositioning.
Renter-occupied share in the neighborhood is modest, signaling a smaller immediate tenant base but less direct multifamily competition. Within a 3-mile radius, demographic statistics from WDSuite show recent population growth and a projected increase in households through 2028, indicating a larger renter pool over time and support for occupancy stability. In a market where home values trend above national midpoints, ownership costs can sustain reliance on rental housing, reinforcing lease retention rather than rapid turnover.
Safety indicators are mixed. The neighborhood’s crime rank is 115 out of 595 within the San Antonio–New Braunfels metro, indicating higher reported crime relative to many peer neighborhoods, while national positioning sits below the midpoint. Recent trends show a slight improvement in violent incidents year over year alongside an uptick in property-related offenses. Investors should calibrate security measures and lighting, and highlight unit and parking-area safety to support leasing and renewals.
Nearby employment is anchored by energy, media, and financial services, supporting commuter demand and lease retention for workforce households that prioritize suburban living with reasonable access to regional job centers.
- Cst Brands — corporate offices (18.8 miles) — HQ
- Andeavor — corporate offices (20.8 miles) — HQ
- Iheartmedia — media corporate offices (28.3 miles) — HQ
- Valero Energy — energy corporate offices (28.6 miles) — HQ
- USAA Federal Savings Bank — financial services offices (29.4 miles)
5071 FM 2673 offers a 79-unit, 2011-vintage asset positioned newer than much of the surrounding submarket, which can enhance competitiveness versus older properties while keeping near-term capital needs more targeted. According to CRE market data from WDSuite, the immediate neighborhood has a modest renter concentration, but within a 3-mile radius the population has expanded and households are projected to rise further, supporting a larger tenant base and steadier occupancy over the medium term. Strong local school ratings and mid-to-upper ownership costs also tend to sustain rental demand and renewal potential.
Key considerations include thoughtful marketing to commuters accessing San Antonio job centers and consistent attention to security and curb appeal to support leasing velocity. Asset management should prioritize durable unit features and amenity touches that resonate with family and workforce renters.
- Newer 2011 vintage versus local average positions the asset competitively with manageable near-term capex.
- Expanding 3-mile population and projected household growth point to a larger renter pool and occupancy support.
- Strong school ratings and mid-to-upper ownership costs reinforce renter reliance and renewal potential.
- Workforce access to regional employers within commuting range underpins demand from stable-income households.
- Risks: thinner neighborhood renter base, mixed safety indicators, and suburban amenity dispersion may require active leasing and retention strategies.