| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 56th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1249 N Lbj Dr, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2018-04-26 |
| Transaction Price | $1,516,500 |
| Buyer | SM MONARCH APT LP |
| Seller | VAN NATTA INVESTMENTS LLC |
1249 N LBJ Dr San Marcos Multifamily Investment
Neighborhood indicators point to a deep renter base and a high-cost ownership market that tends to sustain apartment demand, according to WDSuite’s CRE market data. While neighborhood occupancy has trended softer than the metro, renter concentration remains elevated, which can support leasing velocity for well-positioned assets.
Located in San Marcos within the Austin–Round Rock–Georgetown metro, the neighborhood carries a C+ rating and skews Urban Core. Restaurant density is a relative strength, sitting in the 98th percentile nationally, and grocery access is competitive (78th percentile). Other everyday amenities such as parks, pharmacies, and childcare are thinner locally, so resident appeal leans more on dining access and broader metro connectivity than on neighborhood-scale services.
Renter-occupied housing is a defining feature: the neighborhood’s renter concentration ranks 98th out of 527 metro neighborhoods, placing it in the top quartile locally and signaling a sizable tenant pool for multifamily. By contrast, neighborhood occupancy ranks 517th of 527, well below metro median, implying that effective leasing, marketing, and product differentiation matter. Median contract rents at the neighborhood level sit above the national midline, and NOI per unit trends are in the 72nd percentile nationally, according to WDSuite’s CRE market data—supportive of revenue potential where operations are executed well.
Home values and ownership ratios suggest a high-cost ownership market relative to incomes (value-to-income near the 96th national percentile). For investors, that typically sustains rental reliance and can aid retention, though the neighborhood’s rent-to-income levels indicate affordability pressure that warrants careful lease management. Compared with the metro, this mix often supports steady tenant demand for well-priced, functional units.
Demographics aggregated within a 3-mile radius show population growth over the last five years and a notably large 18–34 cohort. Projections through 2028 indicate further population and household expansion, alongside smaller average household sizes—factors that generally expand the renter pool and can bolster occupancy stability for efficient unit mixes. The property’s 2010 vintage is newer than the neighborhood average construction year (2000), offering competitive positioning versus older stock; targeted updates may still be prudent for systems and finishes to meet current renter preferences.
Safety benchmarks for the neighborhood are weaker than metro and national midlines. The area ranks 404th out of 527 metro neighborhoods for overall crime, which is below the metro median, and national percentiles indicate lower-than-average safety relative to neighborhoods nationwide. Property-related incidents register weaker than national midlines, while violent-offense measures sit below average but not among the lowest tiers.
Investors typically address these conditions through security design, lighting, access controls, and resident engagement. Monitoring recent trend direction is advisable, as the latest year-over-year estimates show some uptick in both property and violent offense rates at the neighborhood scale.
Regional employment access is supported by nearby corporate nodes across insurance, technology, grocery headquarters, and financial services, which can underpin renter demand and retention for workforce-oriented units. The list below reflects notable employers within commuting range.
- State Farm Insurance — insurance (21.3 miles)
- Oracle Waterfront — technology (27.4 miles)
- Whole Foods Market — grocery retail (28.2 miles) — HQ
- New York Life — financial services (32.7 miles)
- Cst Brands — energy retail (34.2 miles) — HQ
1249 N LBJ Dr offers a 2010-vintage, small-scale asset in a renter-heavy San Marcos neighborhood where ownership costs are elevated versus incomes. This context, combined with strong regional dining access and proximity to major employment nodes, supports durable renter demand. According to CRE market data from WDSuite, neighborhood occupancy trends have been softer than the metro, so execution on unit positioning, pricing, and resident experience is key to capturing the area’s large renter base.
Demographics aggregated within a 3-mile radius show recent population and household growth with projections for further expansion and smaller household sizes—factors that typically expand the renter pool for efficient layouts. Given the property’s newer-than-average vintage relative to the local stock, investors may balance competitive positioning with selective upgrades to enhance absorption and rent resilience while monitoring affordability pressure in lease management.
- Renter-heavy neighborhood and high-cost ownership context reinforce multifamily demand depth.
- 2010 construction provides competitive positioning versus older local stock with targeted value-add potential.
- 3-mile demographics indicate population and household growth, supporting a larger tenant base.
- Nearby corporate employment nodes aid leasing stability for workforce-oriented units.
- Risk: Neighborhood occupancy is below metro median and affordability pressure is present; active leasing and expense control are important.