| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 62nd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 604 S Eagle St, Fredericksburg, TX, 78624, US |
| Region / Metro | Fredericksburg |
| Year of Construction | 1998 |
| Units | 81 |
| Transaction Date | 2005-02-21 |
| Transaction Price | $265,600 |
| Buyer | FBG BRENTWOOD OAKS APARTMENTS LP |
| Seller | PC BRENTWOOD LLC |
604 S Eagle St Fredericksburg Multifamily, 81 Units
Positioned in a high-cost ownership pocket of Fredericksburg, this 1998-built, mid-sized asset benefits from a relatively deep renter pool and steady household growth, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit closer to metro norms than national leaders, suggesting focus on leasing execution while pricing power is supported by elevated for-sale values.
Livability in this Suburban neighborhood balances small-town amenities with regional draw. Cafés and restaurants are competitive among Fredericksburg neighborhoods (both ranking within the top quartile locally out of 16 neighborhoods), while grocery access is closer to the metro median. Limited park and pharmacy density nearby indicates lifestyle convenience hinges more on food-and-beverage and local services than green space or healthcare retail.
For rental fundamentals, neighborhood occupancy is above the Fredericksburg metro median (ranked 6th of 16) but sits below many peer areas nationwide, pointing to the importance of consistent leasing and renewals. At the same time, renter-occupied housing accounts for a higher share than in most U.S. neighborhoods (nationally high percentile), signaling a meaningful renter concentration and a deeper tenant base for multifamily assets.
Ownership costs are elevated relative to incomes in this area (home values test in high national percentiles and the value-to-income ratio is among the strongest nationally). For investors, that dynamic typically sustains reliance on rental housing and can aid rent durability and retention, even as lease management remains essential where rent-to-income levels imply measured affordability pressure.
Demographics aggregated within a 3-mile radius show a nuanced demand picture: over the last five years, households grew while population edged lower, indicating smaller average household sizes and continued support for apartment demand. Looking forward, WDSuite data points to an expanding household base through 2028, which should enlarge the local renter pool and support occupancy stability and leasing velocity.
The property’s 1998 vintage is newer than the neighborhood’s average construction year (1983). That positioning can provide competitive appeal versus older stock, while investors should still plan for system modernization and targeted value-add to keep finishes and common areas aligned with renter expectations.
Safety metrics at the block level can fluctuate year to year, and comparable neighborhood crime ranks are not available in WDSuite for this specific area at this time. Investors typically benchmark city and county trend lines and assess on-site security practices and lighting as part of due diligence rather than relying on a single point estimate.
This 81-unit, 1998-built asset in Fredericksburg sits in a high-cost ownership market where elevated home values and a nationally strong value-to-income ratio tend to reinforce multifamily demand. According to CRE market data from WDSuite, the neighborhood’s occupancy is above the metro median but below national leaders, placing emphasis on consistent leasing while the area’s higher renter concentration supports demand depth and renewal prospects.
Demographics within a 3-mile radius indicate households have been growing and are projected to expand further through 2028, even as average household size declines—conditions that generally enlarge the renter pool. Amenity access is competitive locally for cafés and dining, with grocery options near metro norms; limited parks and pharmacy density suggests a focus on convenience and service-oriented upgrades on site. The 1998 vintage offers relative competitiveness versus older stock, with a practical roadmap for value-add, systems modernization, and common-area improvements.
- High-cost ownership market supports rental demand and lease retention
- Neighborhood occupancy above metro median; focus on leasing execution for stability
- 3-mile radius households expanding, signaling a larger tenant base through 2028
- 1998 vintage: competitive versus older stock with clear value-add and system-upgrade paths
- Risks: below-national occupancy benchmarks and limited nearby parks/pharmacy require active asset management