| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 42nd | Poor |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1441 Leah Ave, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 2002 |
| Units | 110 |
| Transaction Date | 2005-03-01 |
| Transaction Price | $7,800,000 |
| Buyer | EENHOORN UNIVERSITY CLUB LP |
| Seller | GECCM 2003-C1 LEAH DRIVE LP |
1441 Leah Ave, San Marcos TX Multifamily Investment
Positioned in San Marcos’ inner-suburban corridor, this 110-unit, 2002-vintage asset serves a deep renter pool with mid-pack neighborhood occupancy and value-add potential, according to WDSuite’s CRE market data.
San Marcos’ Inner Suburb setting provides day-to-day convenience with restaurant and cafe density that is above many areas locally (restaurant and cafe counts sit in the 70s nationally by percentile). Within the Austin–Round Rock–Georgetown metro, overall amenities rank 233 of 527, which is above the metro median, while parks and pharmacies are relatively sparse — a consideration for resident experience and leasing competitiveness.
Neighborhood schools average 3.0 out of 5 and rank 101 of 527 metro neighborhoods, placing the area in the top quartile among Austin metro neighborhoods. At the same time, neighborhood occupancy is around the middle of the national distribution, suggesting stable but competitive leasing conditions for comparable assets.
The asset’s 2002 construction is older than the neighborhood’s average 2009 vintage, pointing to practical capital planning and renovation upside to sharpen positioning versus newer stock. Median contract rents in the neighborhood test in the low-to-mid range for the metro (nationally mid-70s percentile), supporting a workforce renter profile rather than top-of-market pricing.
Unit tenure patterns indicate a high renter concentration at the neighborhood level (renter-occupied share ranks 12 of 527 in the metro), which signals a broad tenant base and supports demand depth for multifamily operators. Three-mile demographics show population growth of roughly 16% since 2018 and a 26% increase in households, with a rising income profile; this points to a larger tenant base and sustained leasing velocity for well-positioned units, based on multifamily property research from WDSuite.
Home values sit near the national mid-to-upper range and the value-to-income ratio is elevated for the neighborhood, indicating a high-cost ownership market relative to local incomes. This context typically sustains renter reliance on multifamily housing, though a rent-to-income ratio near one-third suggests some affordability pressure that owners should manage through pricing and retention strategies.
Safety indicators for the neighborhood track below metro and national benchmarks. Within the Austin–Round Rock–Georgetown metro, the neighborhood’s crime rank is in the lower tier (455 of 527), and national percentiles place both overall and violent offense rates in the lower deciles. Investors should underwrite sensible security measures and assess property-level loss history and lighting/access controls as part of operations planning.
Recent trend data also show property and violent offense rates moving higher year over year at the neighborhood level. While such trends can be cyclical and highly localized, comparative positioning suggests that proactive security, resident engagement, and insurer diligence may be prudent to help protect occupancy stability and operating expenses.
Proximity to major regional employers along the Austin–San Antonio corridor supports a diverse renter base and commute-friendly leasing, with nearby corporate offices spanning insurance, technology, retail headquarters, and energy.
- State Farm Insurance — insurance (24.6 miles)
- Oracle Waterfront — technology offices (30.4 miles)
- Whole Foods Market — retail grocery corporate (31.3 miles) — HQ
- Cst Brands — energy & retail fueling (32.2 miles) — HQ
- Andeavor — energy (34.5 miles) — HQ
This 110-unit, 2002-vintage community in San Marcos is positioned for durable renter demand supported by a high neighborhood renter-occupied share and solid three-mile growth in both population and households. According to CRE market data from WDSuite, neighborhood occupancy trends sit near national mid-range levels, while elevated ownership costs relative to incomes reinforce reliance on rental housing — a constructive backdrop for stabilized operations with targeted upgrades.
Vintage relative to the neighborhood average (2009) suggests clear value-add angles — interior modernization, curb appeal, and systems updates — to compete with newer stock and enhance rentability of ~750 sf average units. Operators should, however, account for below-median safety positioning and manage affordability pressure (rent-to-income near one-third) with disciplined pricing and retention strategies.
- High renter concentration at the neighborhood level supports a deep tenant base and steady leasing
- Three-mile radius shows population and household growth, expanding the renter pool
- 2002 vintage offers value-add potential versus a newer neighborhood average
- Elevated ownership costs relative to incomes sustain multifamily demand
- Risks: below-metro safety standing and rent-to-income pressure call for security and pricing discipline