| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 41st | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1501 Newland Dr, Gainesville, TX, 76240, US |
| Region / Metro | Gainesville |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | 2020-06-15 |
| Transaction Price | $3,518,800 |
| Buyer | HVM BP GAINESVILLE LLC |
| Seller | HVM GAINESVILLE LTD |
1501 Newland Dr Gainesville Multifamily Value-Add Opportunity
Neighborhood occupancy trends are above the metro median and rent burdens are low for the surrounding area, according to WDSuite’s CRE market data, signaling stable renter demand rather than property-level performance.
The property sits in an A-rated Gainesville neighborhood ranked 3rd out of 20 metro neighborhoods, placing it in the top quartile locally. Neighborhood occupancy is 92.3% and ranks 9th of 20, indicating performance above the metro median and supporting a steadier leasing backdrop for nearby multifamily assets.
Daily-needs access is a relative strength: grocery and pharmacy availability rank 2nd and 3rd out of 20 metro neighborhoods, respectively, with national percentiles in the 70s. Park access also outperforms national averages. By contrast, cafés and childcare options are sparse within the neighborhood, which may modestly affect lifestyle convenience but typically has limited impact on workforce housing demand.
Within a 3-mile radius, recent population and household growth have expanded the local tenant base, and projections point to further increases over the next five years. Rising household incomes alongside ongoing rent growth support continued absorption and lease retention rather than outsized price sensitivity. The neighborhood’s renter-occupied share is roughly one-third, indicating a moderate renter concentration and a diversified housing tenure profile that can help stabilize demand across cycles.
Ownership conditions are mixed from a multifamily perspective: home values are lower than many U.S. neighborhoods, yet the value-to-income ratio sits well above national averages, while the rent-to-income ratio is comparatively low. For investors, this combination tends to reinforce rental reliance and lease retention, even as some households may still consider ownership alternatives. Vintage also matters: construction year 1977 is older than the neighborhood average (1985), suggesting near- to medium-term capital planning and potential renovation-driven upside for competitive positioning.
Neighborhood-level crime metrics are not available in WDSuite for this location at this time. Investors typically benchmark safety using city and county trends and compare them with peer neighborhoods in the Gainesville metro to evaluate leasing and retention risk over time.
Regional employers within commutable distance help support renter demand for workforce housing. Notable names include Raytheon, J.C. Penney, Alliance Data Systems, Yum China, and Hewlett Packard Enterprise.
- Raytheon Company — defense & aerospace offices (40.3 miles)
- J.C. Penney — retail headquarters (42.3 miles) — HQ
- Alliance Data Systems — financial services (42.5 miles) — HQ
- Yum China Holdings — restaurant group (42.7 miles) — HQ
- Hewlett Packard Enterprise — technology offices (43.2 miles)
1501 Newland Dr (60 units, 1977 vintage) offers a balanced workforce housing thesis in Gainesville, Texas. The surrounding neighborhood ranks in the top quartile among 20 metro neighborhoods with occupancy above the metro median, and rent burdens in the area remain comparatively low, supporting steady leasing and retention based on CRE market data from WDSuite. The older vintage points to value-add potential through targeted renovations to improve competitive positioning against newer stock.
Within a 3-mile radius, recent growth in population and households expands the prospective tenant base, with projections indicating further increases that can support occupancy stability. Amenity coverage favors daily needs (grocery, pharmacy, parks), while limited café and childcare density suggests a more practical, workforce-oriented location. Ownership is relatively accessible in parts of the market, yet higher value-to-income ratios and low rent-to-income levels tend to sustain multifamily demand over the cycle.
- Top-quartile neighborhood rank locally and above-median occupancy support stable leasing
- Low area rent-to-income ratios enhance retention and reduce near-term affordability pressure
- 1977 vintage presents value-add and capital improvement pathways to drive NOI
- Daily-needs amenities (grocery/pharmacy/parks) support livability for workforce renters
- Risks: sparser café/childcare options, an older building requiring capex, and potential long-run shifts toward ownership that could temper renter concentration