| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 56th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1021 Chestnut St, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1994 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1021 Chestnut St San Marcos Multifamily Investment
High renter concentration in the surrounding neighborhood supports a broad tenant base, while occupancy has shown variability according to WDSuite’s CRE market data. Investors should underwrite for leasing management and retention while leveraging strong local demand drivers.
The property sits in San Marcos within the Austin–Round Rock–Georgetown metro, in an Urban Core neighborhood with strong restaurant density (near the top nationally) and solid grocery access, but fewer parks, pharmacies, cafes, and childcare within the immediate area. This mix favors day‑to‑day convenience and dining options, with fewer green‑space amenities nearby.
Neighborhood occupancy is measured for the neighborhood and not the property and trends below national norms, signaling potential leasing volatility. However, the share of renter‑occupied housing units is high locally, indicating a deep pool of tenants and steady multifamily usage. Neighborhood NOI per unit benchmarks land above the national median, suggesting achievable operating performance when assets are positioned competitively, based on CRE market data from WDSuite.
Construction year average for the neighborhood skews around 2000, while this asset’s 1994 vintage is slightly older. That positioning can support a value‑add plan: targeted renovations and system updates may enhance competitiveness against newer stock and help drive rent attainment relative to the area’s active renter base.
Within a 3‑mile radius, population and households have expanded over the last five years, with forecasts pointing to continued growth and a smaller average household size. For investors, this implies a larger tenant base and more renters entering the market, helping support occupancy stability over the hold period.
Home values in the neighborhood sit above national medians relative to local incomes, a high‑cost ownership context that tends to sustain reliance on rental housing. At the same time, rent‑to‑income levels indicate affordability pressure for some renter cohorts, so pricing power should be balanced with retention and renewal strategies.
Safety conditions in the neighborhood track below national norms, with overall crime levels comparing unfavorably to many U.S. neighborhoods and ranking below the metro median among 527 Austin–Round Rock–Georgetown neighborhoods. Property crime indicators sit weaker than national medians, while violent‑crime measures are also below national percentiles. Investors should emphasize standard risk management, lighting and access controls, and active resident engagement, and compare trends against nearby submarkets during underwriting.
The broader corridor offers access to regional employers that support leasing via commute convenience and a steady workforce renter base, including insurance, software, corporate offices, and retail headquarters noted below.
- State Farm Insurance — insurance (21.5 miles)
- Oracle Waterfront — software (27.5 miles)
- Whole Foods Market — grocer corporate offices (28.3 miles) — HQ
- New York Life — insurance (32.9 miles)
- Cst Brands — retail energy corporate offices (34.2 miles) — HQ
1021 Chestnut St is a 1994‑vintage, 20‑unit asset positioned in a renter‑heavy neighborhood where restaurant and grocery access underpin daily convenience and demand. The submarket’s below‑average neighborhood occupancy (measured for the neighborhood, not the property) argues for disciplined leasing and renewal management, while elevated ownership costs versus local incomes reinforce long‑run reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood operating benchmarks are above national medians, indicating room for competitive performance with the right upgrade and management plan.
Within a 3‑mile radius, population and household counts have grown and are projected to continue expanding, pointing to renter pool expansion over the next several years. The asset’s slightly older vintage versus neighborhood norms creates a straightforward value‑add path through unit renovations and selective building system improvements to sharpen positioning against newer stock, while maintaining affordability aware pricing to support retention.
- Renter‑heavy neighborhood and continued 3‑mile household growth support a broad tenant base
- 1994 vintage offers value‑add potential via interior updates and system upgrades
- Elevated ownership costs sustain reliance on rentals, aiding demand and lease‑up
- Neighborhood occupancy runs below norms — underwrite leasing volatility and retention risk
- Affordability pressure suggests measured rent growth and proactive renewal strategy