| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 28th | Fair |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 S 3rd St, Lamesa, TX, 79331, US |
| Region / Metro | Lamesa |
| Year of Construction | 2001 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
300 S 3rd St Lamesa Multifamily Investment
Neighborhood fundamentals indicate steady renter demand supported by local retail access, according to WDSuite’s CRE market data, with pricing discipline important given mixed occupancy trends. This asset’s 30-unit scale positions it for professional management and operational efficiencies in a small-metro context.
The property sits in an Inner Suburb pocket of Lamesa with a B+ neighborhood rating and the top rank among 7 metro neighborhoods, signaling comparatively strong local positioning within the metro. Retail convenience is a clear advantage: cafes and grocery options score in high national percentiles, while parks and pharmacies are limited nearby, shaping daily-life appeal more toward errands and dining than recreation.
Rents in the neighborhood remain below national medians but have risen materially over the past five years, based on CRE market data from WDSuite. Neighborhood occupancy is below the metro median and has softened over the same period, so underwriting should favor conservative lease-up assumptions and focused retention tactics.
Approximately 38% of housing units in the neighborhood are renter-occupied (above many areas nationally), which supports a workable tenant base for small to mid-size multifamily. For investors, that renter concentration suggests ongoing demand depth, even as lease management remains important for stability.
Within a 3-mile radius, recent data shows modest population contraction but a projected return to growth alongside an increase in households and smaller average household sizes. That combination can expand the renter pool over time and support occupancy stability as more single- and two-person households seek multifamily options.
Ownership costs are relatively low in dollar terms yet remain elevated versus local incomes, and rent-to-income ratios indicate affordability pressure. In practice, this mix can sustain rental reliance while requiring careful rent-setting and renewals to balance pricing power with retention risk.
Comparable crime ranks and national percentiles for this neighborhood are not available in WDSuite at this time. Investors typically contextualize safety using broader city and county trends, verified with on-the-ground diligence (property lighting, access controls, and local law-enforcement feedback) to assess resident experience and potential operational costs.
Built in 2001, the asset is mid-life, suggesting targeted modernization and value-add opportunities (interiors, common areas, systems) to improve competitive positioning against older stock while managing capital planning. The neighborhood ranks first among 7 in the Lamesa metro and benefits from strong everyday retail access, which can support leasing velocity despite softer neighborhood occupancy. According to CRE market data from WDSuite, rents remain comparatively low in the national context, creating room for disciplined upgrades that emphasize value without overextending affordability.
Demographics aggregated within a 3-mile radius indicate recent contraction but a projected increase in households and a smaller average household size, which typically supports renter pool expansion and steadier absorption for well-managed properties. Ownership remains a high-cost proposition relative to local incomes, reinforcing reliance on rental housing and providing a path to stabilize cash flows with prudent renewal strategies.
- Neighborhood ranks first among 7 metro neighborhoods, with strong retail convenience that supports day-to-day livability and leasing.
- Mid-life 2001 vintage offers practical value-add through targeted renovations and operational improvements.
- Below-national rent levels and growing household counts (3-mile radius) support a larger tenant base over time.
- High ownership costs relative to incomes reinforce rental reliance, aiding retention with balanced pricing.
- Risk: Neighborhood occupancy trends are below metro median; plan conservative lease-up, renewals, and expense controls.