| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 11th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 S Avenue K, Hereford, TX, 79045, US |
| Region / Metro | Hereford |
| Year of Construction | 2006 |
| Units | 89 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
700 S Avenue K Hereford Multifamily Investment
Positioned in an Inner Suburb setting of Hereford, this 89-unit asset benefits from steady neighborhood renter demand and accessible pricing, according to WDSuite’s CRE market data. The 2006 vintage offers a competitive basis versus older local stock while leaving room for targeted upgrades to enhance durability and retention.
Neighborhood fundamentals point to everyday convenience and service access. Amenity density ranks at the top among 7 Hereford metro neighborhoods, with grocery, parks, pharmacies, and dining options comparatively strong for the area. This supports livability and day-to-day resident satisfaction, a positive for leasing stability and renewal prospects.
Neighborhood occupancy is reported at 86.4%, with a modest uptick over the past five years, based on CRE market data from WDSuite. The renter-occupied share is 41.3% of housing units, indicating a moderate renter concentration that can support a stable tenant base without overreliance on a narrow segment of demand.
Within a 3-mile radius, recent patterns show a slight population pullback in the prior five-year period alongside an increase in families, while projections call for population growth and a notable rise in household count with smaller average household sizes. For investors, that mix implies a potentially larger tenant base and more renters entering the market over time, supporting occupancy and lease-up performance if supply remains in check.
Home values in the neighborhood sit on the lower end nationally, and rents are also comparatively accessible. In investment terms, a more attainable ownership market can create some competition with rentals, but attainable rents and measured rent-to-income levels can aid retention and reduce turnover risk. School ratings trend below national norms, which may limit appeal to some family renters; however, the broader amenity access and commuter convenience can offset for workforce-oriented demand segments.
Safety signals are mixed. Within the Hereford metro, the neighborhood’s crime rank is 2 out of 7 neighborhoods, indicating higher incident levels relative to many local peers. Nationally, indicators track closer to the mid-range, but year-over-year volatility has been elevated. Investors should factor in prudent security measures and operating practices, and monitor trend direction rather than single-year swings.
- Xcel Energy — utilities services (36.6 miles)
Regional employment access is oriented toward commuting hubs, which can still support workforce housing demand and lease retention for residents with steady job bases. The following nearby employer reflects this dynamic.
The property’s 2006 construction provides an advantage versus older local inventory, helping competitiveness on unit finishes and building systems while leaving scope for targeted renovations to elevate rents and reduce near-term capex surprises. Neighborhood occupancy has edged higher and the renter-occupied share is balanced, pointing to a tenant base that supports leasing stability. Within a 3-mile radius, projections for population growth and a meaningful increase in households suggest potential renter pool expansion, which can underpin steady absorption and renewals.
Pricing context is accessible: neighborhood rents and home values are on the lower end nationally, which can aid retention and keep lease management flexible, though it may also introduce competition from ownership alternatives. Based on commercial real estate analysis from WDSuite, amenity access is comparatively strong for the Hereford area, supporting day-to-day livability that helps underpin occupancy even as operators manage risks tied to safety perceptions and below-average school ratings.
- 2006 vintage offers competitive positioning versus older local stock with value-add potential through selective upgrades
- Neighborhood occupancy stability and a moderate renter-occupied share support tenant base depth
- 3-mile outlook indicates population growth and rising household counts, expanding the prospective renter pool
- Accessible rent and value context can aid retention but may temper pricing power versus ownership alternatives
- Risks: safety signals above some local peers and below-average school ratings warrant proactive property management and tenant experience investments