| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 62nd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 591 E Highway St, Fredericksburg, TX, 78624, US |
| Region / Metro | Fredericksburg |
| Year of Construction | 1991 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
591 E Highway St Fredericksburg Multifamily Investment
Renter concentration in the neighborhood is elevated for the Fredericksburg metro, while ownership costs are high relative to incomes—factors that can support steady tenant demand according to WDSuite’s CRE market data.
Located in a Suburban pocket of Fredericksburg, the neighborhood rates in the top tier locally (A rating; rank 3 of 16), signaling competitive fundamentals among metro peers. Amenity access skews toward dining and cafes, while park and pharmacy options are limited nearby—an important consideration for positioning and resident services.
Neighborhood occupancy is mid-pack within the metro (rank 6 of 16), suggesting leasing is competitive among Fredericksburg neighborhoods rather than overheated. The share of housing units that are renter-occupied is comparatively high (rank 3 of 16), indicating a deeper tenant base for multifamily relative to many local submarkets.
Within a 3-mile radius, households have increased even as population edged down, and projections call for a sizable increase in households by 2028 alongside smaller average household sizes. For investors, that points to a larger pool of renters and demand for smaller-format units, supporting occupancy stability and lease management strategies.
Median home values are elevated for the area and well above national norms, while median contract rents have been rising and are projected to continue growing. In practice, the high-cost ownership market tends to sustain renter reliance on multifamily housing, which can aid pricing power and retention when balanced against rent-to-income levels. These dynamics are based on multifamily property research from WDSuite and reflect neighborhood metrics rather than property-specific performance.
Vintage also matters: the asset’s 1991 construction is newer than the neighborhood’s average vintage (1983), implying relative competitiveness versus older stock; investors should still plan for selective modernization of systems and interiors to defend rents.
Comparable safety benchmarks for this neighborhood were not available in WDSuite at the time of publication. Investors typically contextualize conditions against city and county trends and focus on property-level measures (lighting, access control, and operating practices) to support resident satisfaction and retention.
Nearby employment is diversified across local services, hospitality, healthcare, and education, supporting workforce housing demand and commute convenience for renters. Specific employer records with verified distances were not available for inclusion.
The property’s 48 units, built in 1991, position it as relatively newer than much of the surrounding stock, with potential to outperform older competitors through targeted upgrades. Neighborhood indicators point to resilient renter demand: a higher renter-occupied share locally, rising rents, and a high-cost ownership market that reinforces reliance on rental housing. Household growth within 3 miles is projected to expand meaningfully by 2028, and smaller household sizes point to a broader tenant base for 1–2 bedroom layouts. According to commercial real estate analysis from WDSuite, local occupancy sits in the competitive range among Fredericksburg neighborhoods, underscoring stable leasing conditions rather than supply-constrained exuberance.
Key considerations include selective capex to modernize systems given the asset’s age, monitoring rent-to-income to manage retention, and acknowledging limited nearby parks and pharmacies when shaping amenities and services. Overall, the submarket’s renter depth and ownership cost profile support a durable, operations-focused thesis with measured value-add upside.
- Newer-than-average 1991 vintage versus local stock supports competitive positioning; targeted renovations can enhance rents
- Elevated renter-occupied share in the neighborhood indicates a deeper tenant base and potential occupancy stability
- High-cost ownership market sustains multifamily demand and can aid pricing power and retention
- 3-mile household growth and smaller household sizes expand the renter pool for 1–2 bedroom product
- Risks: mid-pack occupancy, limited nearby parks/pharmacies, and the need to manage rent-to-income for retention