| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 56th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 142 Windmill Dr, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1981 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
142 Windmill Dr, San Marcos TX — 1993 Vintage, 33-Unit Multifamily
Compact 1993-vintage asset with a deep renter pool in an Urban Core pocket of San Marcos; neighborhood benchmarks suggest value-add positioning and demand supported by dining access and regional employment, according to CRE market data from WDSuite.
Located in the Austin-Round Rock-Georgetown metro, the surrounding neighborhood rates C+ and is classified as Urban Core. Restaurant density is a relative strength (top nationally by density), and grocery access is competitive versus many U.S. neighborhoods. Other daily amenities like parks, pharmacies, childcare, and cafes are thinner locally, so residents may rely on nearby corridors for a fuller mix.
The area skews renter-heavy. Within the immediate neighborhood, an estimated 59.9% of housing units are renter-occupied, indicating depth for multifamily demand. Aggregated within a 3-mile radius, renter concentration is even higher, reinforcing a broad tenant base for smaller-format units and supporting leasing velocity and retention during turns.
Home values in the neighborhood sit in a higher-cost ownership context relative to local incomes (value-to-income measures rank among the top tiers nationally), which tends to sustain reliance on rentals and can bolster pricing power when managed carefully. At the same time, neighborhood median household income benchmarks track below national norms; investors should calibrate unit finishes and rent steps to local affordability to protect occupancy and renewal outcomes.
Neighborhood occupancy has trailed broader U.S. benchmarks in recent years and sits below the metro median, suggesting lease-up and stabilization require active management. That backdrop can create opportunity for hands-on operators to outperform via targeted renovations, marketing, and operations, especially given the strong restaurant proximity and grocery access. The property’s 1993 vintage is older than the local average construction year (2000), pointing to potential value-add and capital planning needs that, if executed well, can differentiate against aging stock.
Demographics aggregated within a 3-mile radius show population and household growth over the last five years, with a large 18–34 renter-age cohort and continued growth projected. This trend supports a larger tenant base and multifamily demand over time, aiding occupancy stability and leasing depth if product is positioned to local price points.
Safety indicators for the neighborhood are mixed and compare weaker than many areas across the metro and nationally. Against 527 metro neighborhoods, crime ranks in the lower-performing half, and national comparisons place the area below the midpoint for safety. Property-related incidents benchmark weaker than national averages, while violent offense rates track closer to midpack but still below national percentiles associated with the safest communities.
For investors, this underscores a need for practical mitigation: lighting, access controls, and resident engagement, alongside coordinated property management. Trend monitoring remains important; improvements can support retention, while lagging conditions may pressure marketing costs and concessions.
Regional employment access spans insurance, technology, grocery retail headquarters, and additional corporate offices, supporting workforce housing demand and commuter convenience relevant to leasing and retention.
- State Farm Insurance — insurance offices (21.6 miles)
- Oracle Waterfront — technology/corporate offices (27.6 miles)
- Whole Foods Market — grocery retail corporate (28.5 miles) — HQ
- New York Life — insurance (33.0 miles)
- Cst Brands — retail energy (34.0 miles) — HQ
The asset’s 1993 vintage and compact average unit size position it for value-add execution in a renter-heavy Urban Core setting. Neighborhood metrics indicate higher-cost ownership relative to incomes, which tends to sustain rental reliance, while a large 18–34 cohort and continued 3-mile population and household growth point to ongoing renter pool expansion. According to CRE market data from WDSuite, local NOI per unit benchmarks are competitive for the metro, but neighborhood occupancy trends trail, making hands-on operations and calibrated pricing important to capture demand.
For long-term ownership, a focused renovation plan, basic security and access upgrades, and targeted marketing to the prevailing renter profile can improve leasing stability. Affordability management remains central: rent-to-income metrics signal potential pressure, so pacing rent steps with finish upgrades and amenity adds should help balance occupancy and revenue.
- Renter-heavy location with large 18–34 cohort (3-mile data) supports tenant base depth
- 1993 vintage offers clear value-add and capital planning pathways versus newer local stock
- Higher-cost ownership context can sustain rental demand and pricing power when managed carefully
- Operational upside: neighborhood occupancy lags, creating room for lease-up and stabilization outperformance
- Risk: affordability pressure (rent-to-income) and safety comparisons require careful rent setting and property-level mitigation