| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 62nd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 707 S Creek St, Fredericksburg, TX, 78624, US |
| Region / Metro | Fredericksburg |
| Year of Construction | 2008 |
| Units | 81 |
| Transaction Date | 2025-01-24 |
| Transaction Price | $8,104,240 |
| Buyer | JUNIPER SOUTH CREEK LLC |
| Seller | FREDERICKSBURG TERRACES AT CREEK STREET |
707 S Creek St Fredericksburg Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by a high-cost ownership market, according to WDSuite’s CRE market data. The area’s renter concentration and steady household formation trends support leasing stability for well-positioned assets.
The property sits in a suburban pocket of Fredericksburg rated A and ranked 3 out of 16 neighborhoods locally, placing it above the metro median. Amenities are present but not dense; restaurants register competitively in the metro while parks and pharmacies are limited nearby, suggesting residents rely on broader city amenities.
Rents in the neighborhood track in the upper half of national comparisons, and home values are elevated (nationally high value-to-income ratio), which tends to sustain reliance on multifamily housing over ownership. Within a 3-mile radius, households have increased even as overall population edged lower, indicating smaller household sizes and a maturing demographic mix — dynamics that can still expand the tenant base and support occupancy for appropriately sized units.
The neighborhood’s renter-occupied share is near two-fifths of housing units, signaling a meaningful tenant pool for workforce and lifestyle renters. Overall housing occupancy trends run below national averages, which can create variability at lease-up; however, competitively located assets with updated finishes typically capture demand in markets where ownership costs are elevated.
Construction in the area skews older on average (early 1980s). A 2008 vintage positions this asset as newer than much of the local stock, offering relative competitiveness versus older properties while still warranting mid-life capital planning for systems, common areas, and potential unit updates to drive rent premiums.
Comparable neighborhood crime statistics are not available in WDSuite for this location. Investors should contextualize safety using city and county trend data and on-the-ground diligence, comparing conditions to similar suburban neighborhoods across the Fredericksburg metro rather than block-level anecdotes.
WDSuite does not surface verified nearby anchor employers with distance data for this address. Investors may consider regional healthcare, education, hospitality, and services employment as likely demand drivers, validating commute patterns during diligence.
This 2008-vintage, 81-unit asset is relatively newer than much of the surrounding housing stock, offering competitive positioning against older properties while presenting mid-life value-add opportunities. Elevated ownership costs in the neighborhood reinforce renter reliance on multifamily housing, and the renter-occupied share indicates a sizable tenant base. Within a 3-mile radius, households are growing even as average household size declines, a pattern that can enlarge the renter pool and support occupancy stability for efficiently designed units, based on CRE market data from WDSuite.
Neighborhood housing occupancy trends trail national benchmarks, so underwriting should account for leasing cadence and product differentiation. That said, newer construction, targeted renovations, and professional management can enhance capture rates in a market where ownership remains expensive relative to incomes.
- Newer 2008 vintage versus older neighborhood stock supports competitive positioning
- Elevated ownership costs sustain renter demand and potential pricing power
- 3-mile household growth and smaller household sizes expand the tenant base
- Mid-life capex and light renovations offer value-add pathways
- Risk: neighborhood housing occupancy lags national norms, requiring careful lease-up management