| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 56th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 109 Windmill Dr, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1982 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
109 Windmill Dr, San Marcos Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and strong nearby household growth, while neighborhood occupancy trends trail metro norms, according to WDSuite’s CRE market data.
Located in San Marcos within the Austin–Round Rock–Georgetown metro, the property sits in an Urban Core neighborhood with a C+ rating. Restaurant density is a notable strength, ranking 13th among 527 metro neighborhoods and in the 98th percentile nationally—supportive of resident convenience and leasing appeal. Grocery access is also competitive (122nd of 527; 78th percentile nationally). By contrast, cafes, parks, and pharmacies are sparse within the immediate neighborhood, so daily needs are met primarily by restaurants and grocers rather than a broader amenity mix.
Construction year is 1982 against a neighborhood average vintage around 2000. The older stock positions this asset for value-add: modernization of interiors, systems, and curb appeal can sharpen its competitive stance versus newer deliveries while requiring thoughtful capital planning.
Renter-occupied housing is substantial at the neighborhood level, indicating a deep tenant base for multifamily. Within a 3-mile radius, demographics show population growth over the past five years with further gains projected, alongside a forecast increase in households and smaller average household sizes. This combination points to a larger tenant base and steady inflow of renters, which can support occupancy stability and lease-up velocity for appropriately positioned product.
Ownership costs in the neighborhood sit on the higher side relative to incomes (high value-to-income ratio), which tends to reinforce reliance on rental housing and can underpin pricing power. At the same time, rent-to-income levels suggest some affordability pressure, warranting careful lease management and renewal strategies to sustain retention.
Neighborhood safety metrics are mixed and trend below national averages, with property crime elevated relative to national benchmarks and violent crime closer to the lower national percentiles. Compared with the Austin–Round Rock–Georgetown metro, the area ranks in the lower half among 527 neighborhoods for overall crime, signaling that investors should underwrite proactive security measures and resident engagement to support retention.
Recent year-over-year changes indicate an uptick in property offenses, so underwriting should account for potential operating expenses tied to security, lighting, and preventative maintenance. Framing safety comparatively—rather than block-by-block—helps calibrate expectations and align asset management plans with neighborhood trends.
Regional employment depth is anchored by corporate offices within commuting range, supporting renter demand through diverse white-collar roles and stable payrolls. The list below highlights nearby employers relevant to workforce housing and professional tenants.
- State Farm Insurance — insurance (21.5 miles)
- Oracle Waterfront — technology offices (27.5 miles)
- Whole Foods Market — corporate offices (28.4 miles) — HQ
- New York Life — financial services (32.9 miles)
- Cst Brands — energy & retail (34.1 miles) — HQ
This 32-unit 1982-vintage asset offers value-add potential in a renter-oriented pocket of San Marcos. A sizable renter-occupied share at the neighborhood level, combined with 3-mile demographic tailwinds—population growth, a projected increase in households, and smaller household sizes—supports a larger tenant base and ongoing demand for multifamily. According to CRE market data from WDSuite, neighborhood restaurant and grocery access are competitive in the metro, enhancing day-to-day livability that can aid leasing and retention despite limited park, pharmacy, and cafe density.
Counterbalancing factors include neighborhood occupancy that trails metro norms and safety metrics that fall below national averages, suggesting the need for hands-on management, targeted renovations, and security planning. Elevated ownership costs relative to incomes tend to sustain rental demand, while rent-to-income levels point to affordability pressure—making unit mix, renewal strategies, and operational discipline important to maintain occupancy and cash flow resilience.
- Renter-heavy neighborhood and 3-mile household growth expand the tenant base and support occupancy stability.
- 1982 vintage presents clear value-add levers to compete with newer stock through targeted upgrades.
- Competitive restaurant and grocery access enhances resident convenience and leasing appeal.
- Elevated ownership costs relative to income support sustained rental demand and potential pricing power.
- Risks: below-metro neighborhood occupancy and safety metrics require proactive leasing, renewal, and security strategies.