| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 39th | Poor |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1623 Aquarena Springs Dr, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1983 |
| Units | 70 |
| Transaction Date | 2013-07-24 |
| Transaction Price | $2,375,000 |
| Buyer | SW THRIVE LTD |
| Seller | POST ROAD |
1623 Aquarena Springs Dr, San Marcos TX Multifamily Opportunity
Neighborhood occupancy is above national medians and renter concentration is high, supporting a broad tenant base, according to WDSuite’s CRE market data. Expect steady renter demand balanced by affordability management needs at the neighborhood level rather than property-specific performance.
Located in San Marcos within the Austin–Round Rock–Georgetown metro, the neighborhood shows practical renter fundamentals for multifamily. Grocery access is comparatively strong (nationally above average), while cafés, parks, and pharmacies are limited locally. For investors, this mix suggests everyday convenience without the premium amenity overlay often required for Class A leasing narratives.
The neighborhood’s occupancy rate is above the national median (ranked above the midpoint among 527 metro neighborhoods), signaling generally stable absorption. Median asking rents benchmark around the national mid-range, pointing to competitive pricing rather than luxury positioning. The housing stock skews renter-occupied at the neighborhood level, indicating deep tenant pool potential and support for leasing velocity across cycle turns.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years with further expansion forecast through 2028, alongside an increase in households. This trajectory implies a larger tenant base and supports occupancy stability. Income levels are rising locally, and while rent growth is projected to continue, investors should calibrate renewal strategies to sustain retention and manage rent-to-income affordability pressure.
Vintage matters for competitive positioning: with a 1999 construction year versus an area average from the late 1980s, the asset should compare favorably to older stock. That said, two-decade-plus systems may still benefit from targeted modernization or value-add upgrades to protect standing against newer deliveries.
Safety metrics for the neighborhood trail national norms, with ranks placing it below the metro median among 527 neighborhoods and national percentiles indicating comparatively higher crime levels than many U.S. areas. This is a neighborhood-level reading rather than a property assessment, and operators typically address it through on-site practices, lighting, access controls, and resident engagement.
Recent trends show property offenses have risen year over year at the neighborhood level, while violent offense changes are closer to national pacing. Investors should underwrite enhanced security measures and consider their impact on operating expenses and lease retention.
Regional employment anchors within commuting range include insurance, technology, and consumer headquarters that support steady renter demand and reduce turnover risk. Notable nearby employers include State Farm Insurance, Oracle, Whole Foods Market, New York Life, and Coca-Cola.
- State Farm Insurance — insurance services (21.3 miles)
- Oracle Waterfront — software & cloud (26.7 miles)
- Whole Foods Market — grocery HQ & corporate (27.7 miles) — HQ
- New York Life — insurance (32.5 miles)
- Coca-Cola — beverage corporate offices (35.3 miles)
This 70-unit, 1999-vintage property offers exposure to a renter-heavy San Marcos neighborhood with occupancy above national medians and rents positioned around the national midpoint. Based on CRE market data from WDSuite, the surrounding area’s strong renter concentration and stable neighborhood occupancy suggest durable tenant demand, while the property’s newer-than-area-average vintage should compete well against older stock with focused updates.
Within a 3-mile radius, population and households have grown and are projected to expand further, enlarging the renter pool and supporting leasing stability. Affordability pressures at the neighborhood level argue for disciplined revenue management, but the combination of grocery access, workforce-oriented employment nodes within commuting range, and value-add potential on a late-1990s asset presents a credible, cycle-resilient thesis.
- Renter-heavy neighborhood supports deep tenant base and steady absorption
- 1999 construction compares favorably to older local stock; selective upgrades can enhance competitiveness
- 3-mile radius shows population and household growth, reinforcing demand and occupancy stability
- Commutable access to diversified employers underpins workforce housing demand
- Risks: neighborhood safety scores below national norms and affordability pressure require active lease and OPEX management