| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 49th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1431 W Hyman St, Stephenville, TX, 76401, US |
| Region / Metro | Stephenville |
| Year of Construction | 2003 |
| Units | 26 |
| Transaction Date | 2024-03-27 |
| Transaction Price | $1,702,400 |
| Buyer | BUCCIN BRONCOS LLC |
| Seller | 5 STRAND INVESTMENTS INC |
1431 W Hyman St, Stephenville TX 26-Unit Multifamily
Renter-occupied housing accounts for a majority of neighborhood units, supporting a stable tenant base, and neighborhood occupancy has trended higher in recent years, according to WDSuite s CRE market data. The 26-unit scale positions the asset for professional management with room to improve operations without institutional complexity.
Located in an Inner Suburb of Stephenville, the neighborhood is rated A and ranks 3rd among 19 metro neighborhoods, indicating competitive fundamentals within the local context. Parks access is strong (top quartile among 19 metro neighborhoods), restaurants are also competitive, and grocery access is above the metro median; cafes and pharmacies are thinner locally, which may modestly affect walkable convenience.
Median home values in the neighborhood sit below many national metros yet the value-to-income ratio is elevated (around the 71st percentile nationally), creating a high-cost ownership market relative to local incomes. For multifamily investors, that dynamic tends to sustain reliance on rental housing, aiding retention and pricing power when units are well-positioned.
Neighborhood contract rents are lower than many peer markets while the share of housing units that are renter-occupied is high (53%). This mix points to depth of demand for attainable rentals and the potential to capture renewals with thoughtful lease management rather than relying solely on outsized rent growth.
Demographic statistics aggregated within a 3-mile radius show modest population growth over the last five years with a larger increase in households, and forecasts point to continued population and household expansion alongside smaller average household sizes. Together, these trends expand the renter pool and support occupancy stability for appropriately sized units and efficient floor plans, based on commercial real estate analysis from WDSuite.
The property’s 2003 construction is newer than much of the surrounding housing stock (neighborhood average vintage skews late 1970s). That positioning can reduce near-term capital needs versus older assets and improve competitive standing, though investors should still underwrite selective modernization to meet current renter expectations.
Comparable neighborhood-level safety data is not available from WDSuite for this location at this time. Investors typically review multi-year city and county reports, police department releases, and property-level incident logs to gauge trend direction and how the area compares with the broader Stephenville region.
For underwriting, pair regional sources with on-the-ground observations at multiple times of day and resident feedback. This approach offers a more reliable view of safety conditions without over-relying on single-year snapshots.
Employer proximity insights are not available in WDSuite for this address at this time. Investors may wish to supplement with local chamber and economic development resources to map nearby demand drivers and commuting patterns.
This 26-unit 2003-vintage asset aligns with a neighborhood that is competitive within the Stephenville metro, where renter-occupied housing is a majority and household growth within a 3-mile radius is outpacing population growth—together supporting a deeper tenant base and steady leasing. According to CRE market data from WDSuite, neighborhood occupancy has improved in recent years, while an elevated ownership cost burden relative to incomes reinforces sustained demand for rentals rather than ownership.
Newer vintage versus the local housing stock can reduce immediate capital exposure and improve leasing competitiveness, with upside from targeted renovations and operations. Key risks include thinner walkable amenities in certain categories and the need to manage affordability pressure to protect retention and minimize turnover.
- Newer 2003 construction versus older neighborhood stock supports competitive positioning and manageable near-term CapEx.
- Majority renter-occupied housing and growing households within 3 miles expand the tenant base and support occupancy stability.
- Elevated ownership cost-to-income dynamics sustain reliance on rentals, aiding pricing power for well-run assets.
- Neighborhood standing (3rd of 19 metro neighborhoods) signals competitive local fundamentals.
- Risks: thinner cafe/pharmacy amenity density and affordability pressure call for careful lease and expense management.