| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 21st | Poor |
| Demographics | 23rd | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 208 Perry St, Marlin, TX, 76661, US |
| Region / Metro | Marlin |
| Year of Construction | 2011 |
| Units | 29 |
| Transaction Date | 2022-04-28 |
| Transaction Price | $585,200 |
| Buyer | AFFORDABLE ASSET PROPERTIES LLC |
| Seller | OCAMPO |
208 Perry St, Marlin, TX Multifamily Investment
Newer 2011 vintage relative to the neighborhood s older housing stock suggests competitive positioning and manageable near-term capex, according to WDSuite s CRE market data. Renter affordability appears favorable in the area, which can support retention, though leasing may rely on value-oriented demand.
The neighborhood sits within the Waco, TX metro and carries a B- rating, placing it above the metro median (rank 49 out of 92 neighborhoods). Daily-needs access is a relative strength: grocery and pharmacy availability ranks competitive among Waco neighborhoods (ranks 24 and 5 out of 92), signaling convenient basics for residents. Caf es and parks are also comparatively available, while childcare options are limited. These indicators describe the neighborhood context, not the property s onsite amenities.
Housing stock in the neighborhood skews older on average (mid-1980s), which makes the subject property s 2011 construction more contemporary versus local comparables a positive for leasing optics. Neighborhood occupancy trends track below national norms, so underwriting should emphasize property-level operations and marketing to capture value-oriented demand rather than relying on broad tailwinds.
Within a 3-mile radius, demographics show recent softness in population and household counts but an increase in mean and median incomes over the last five years. Projections in the same 3-mile radius indicate potential increases in households and incomes, which would expand the local renter pool over time if realized; investors should treat these as directional rather than certain. Neighborhood-level renter concentration is moderate, indicating a smaller but stable tenant base that typically values attainable pricing and convenience.
Ownership costs in the area are comparatively low, which can create competition with renting and temper pricing power. At the same time, neighborhood rent-to-income ratios are modest, which reduces affordability pressure and can support lease retention if management maintains value positioning. This balance points to steady, workforce-oriented demand rather than premium rent growth, a useful framing for commercial real estate analysis.
Neighborhood safety figures are not available in WDSuite s dataset for this location. Without ranked or percentile crime metrics relative to the Waco metro or nationwide, investors should review supplemental local sources and property-level incident logs to gauge trend direction and any recent changes. Use comparative context (neighborhood vs. city or county) and multi-year views where possible to avoid conclusions from short-term variability.
The 2011 vintage offers a more contemporary option versus an older neighborhood baseline, supporting competitive positioning and potentially lower immediate capital needs. Neighborhood rent-to-income levels suggest manageable affordability pressure that can aid tenant retention, while daily-needs access (groceries, pharmacies, parks) supports livability. According to CRE market data from WDSuite, neighborhood occupancy sits below national norms, so performance will depend on disciplined operations and value-oriented leasing rather than macro demand alone.
Investor focus should center on maintaining attainable pricing, targeted upgrades that improve durability and appeal, and active marketing to a modest renter base. Low ownership costs in the area may cap rent growth, but the combination of newer construction and essential-amenity access can position the asset for steady cash flow if managed with expense control and resident retention in mind.
- 2011 construction is newer than local stock, limiting near-term capex while improving competitive appeal.
- Essential-amenity proximity (grocery, pharmacy, parks) supports resident convenience and leasing stability.
- Modest rent-to-income levels point to lower affordability pressure and stronger lease retention potential.
- Directional 3-mile projections suggest potential renter pool expansion, warranting monitoring rather than reliance.
- Risks: below-average neighborhood occupancy and low ownership costs may limit pricing power; execution and expense control remain critical.