| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 24th | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1615 W California St, Gainesville, TX, 76240, US |
| Region / Metro | Gainesville |
| Year of Construction | 2002 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1615 W California St Gainesville Multifamily Investment
Neighborhood occupancy is above the metro median and in the upper national half, supporting leasing stability nearby according to WDSuites CRE market data. Positioning a 2002-vintage, smaller-unit asset here can target renters prioritizing value and practical access to daily needs.
The surrounding Gainesville neighborhood rates a B and sits above the metro median (rank 9 of 20) for overall fundamentals, with occupancy in the area trending stronger than many local peers (rank 8 of 20; national performance sits in the upper half). These occupancy figures reflect the neighborhood, not the property, and suggest a base level of demand that can support renter retention and pricing discipline over time.
Local amenity access is relatively convenient for a rural setting: grocery and restaurants rank 3 of 20 metro neighborhoods, while cafes rank 2 of 20 by concentration. Childcare and pharmacy density are thinner (both near the bottom of the 20-neighborhood metro set), which may modestly influence renter preferences toward nearby corridors for services. Investors should underwrite transportation patterns and service access as part of lease-up and retention planning.
Vintage matters: the assets 2002 construction is newer than the neighborhoods average 1991 stock (rank 13 of 20 nationally above mid-pack). That relative youth can enhance competitiveness versus older properties, though investors should still plan for systems updates typical of early-2000s buildings when executing value-add or modernization.
Tenure dynamics show a modest renter-occupied share at the neighborhood level, while the 3-mile radius around the property skews more rental-oriented (about half of housing units are renter-occupied). Combined with 3-mile population growth over the last five years and a projected increase through 2028, this points to a larger tenant base and steady multifamily demand, though investors should monitor shifts between owner and renter shares as ownership costs and incomes evolve.
Home values in the neighborhood sit below national medians, and rents measure in the national middle band. In investor terms, a relatively accessible ownership market can introduce competition with rentals, but it can also help support leasing stability when paired with practical rents and smaller floor plans that offer an approachable monthly payment. Rent-to-income levels in the area appear manageable, which can aid retention and reduce turnover sensitivity during renewals.
Comparable, neighborhood-level safety metrics are not available in WDSuite for this location. Investors commonly benchmark area safety using multi-year city or county trends and proximity to commercial corridors. Given the rural context, its prudent to review recent local trendlines and engage on-the-ground diligence to assess conditions around key access routes and daily-needs nodes.
Regional employment access is anchored by corporate offices within commuting reach, supporting a renter base tied to professional and administrative roles. The following employers represent nearby demand drivers referenced by residents commuting to the DallasFort Worth orbit.
- Raytheon Company corporate offices (40.6 miles)
- J.C. Penney corporate offices (41.6 miles) HQ
- Alliance Data Systems corporate offices (41.8 miles) HQ
- Yum China Holdings corporate offices (41.9 miles) HQ
- Xerox Corporation corporate offices (42.2 miles)
This 20-unit property with compact average floor plans positions as a practical, income-focused play in a Gainesville neighborhood where area occupancy trends above the metro median and sits in the national upper half. According to CRE market data from WDSuite, the neighborhoods services mix is strongest in grocery and dining density, while childcare and pharmacy access are thinnerfactors to incorporate into retention strategies and marketing. The 2002 build is newer than local averages, offering a competitive edge over older stock while still presenting scope for selective modernization and value-add.
Within a 3-mile radius, population and household counts have been rising and are expected to continue growing, which supports a larger tenant base and occupancy stability. At the same time, relatively accessible home values indicate potential competition from ownership, so underwriting should emphasize operational execution, right-sized amenities, and rent positioning aligned to the areas income profile.
- Area occupancy trends above metro median support leasing stability
- 2002 vintage competes well versus older neighborhood stock with targeted upgrades
- 3-mile population and household growth expands the renter pool and supports demand
- Smaller average unit sizes align with value-oriented positioning and rent-to-income management
- Risk: accessible ownership options and thinner childcare/pharmacy access may affect retention and pricing power