| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 37th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 705 River Rd, San Marcos, TX, 78666, US |
| Region / Metro | San Marcos |
| Year of Construction | 1985 |
| Units | 116 |
| Transaction Date | --- |
| Transaction Price | $10,700,000 |
| Buyer | FG Property Management, Inc. |
| Seller | Joco on the River, LP |
705 River Rd, San Marcos TX Multifamily Investment
Neighborhood renter demand is durable, with a high share of renter-occupied housing and steady occupancy, according to WDSuite’s CRE market data. This supports leasing stability for a 116-unit asset while leaving room to optimize operations and amenities over time.
The property sits in an Inner Suburb of the Austin–Round Rock–Georgetown metro where neighborhood livability is mixed but supportive for workforce housing. Amenity access is competitive among Austin neighborhoods (rank 93 of 527) with stronger coverage for restaurants, groceries, parks, and pharmacies than for cafes. Nationally, the area trends around the mid-range for amenities, with parks and pharmacies landing in higher percentiles and everyday retail within convenient reach.
Rents in the neighborhood track near U.S. mid-range levels and have risen over the last five years, while the neighborhood occupancy rate is in a stable band around the metro median. For investors, this suggests dependable baseline demand with scope to drive collections and renewals through targeted upgrades rather than relying solely on outsized rent growth.
Tenure patterns favor multifamily: the neighborhood shows a high share of renter-occupied units (about 63%), indicating a deep tenant base and reinforcing demand for professionally managed apartments. Within a 3-mile radius, population and households have expanded and are projected to continue growing through 2028, pointing to a larger renter pool and support for occupancy.
Ownership costs locally are comparatively accessible versus many U.S. markets, which can create some competition from entry-level ownership. That said, mid-range neighborhood rents and a sizable renter concentration can sustain retention and reduce turnover risk when combined with pragmatic leasing strategies and resident services.
Safety indicators for the neighborhood trail metro and national norms overall (crime rank 363 of 527 within the Austin metro; low national percentiles for violent and property offenses). However, recent trends show property offenses decreasing year over year, indicating some improvement in conditions. Investors should underwrite with conservative assumptions and align security measures and lighting/common-area design with typical Inner Suburb risk management practices.
Proximity to regional employers supports renter demand and commute convenience for a workforce tenant base, including insurance, technology, and retail corporate offices noted below.
- State Farm Insurance — insurance (23.0 miles)
- Oracle Waterfront — technology offices (28.5 miles)
- Whole Foods Market — grocery corporate (29.5 miles) — HQ
- Cst Brands — convenience retail (34.2 miles) — HQ
- New York Life — insurance (34.2 miles)
705 River Rd is a 116-unit, 1985-vintage asset with average unit sizes around 880 sq. ft., positioned for durable occupancy supported by a high neighborhood renter concentration and balanced, mid-range rent levels. Based on CRE market data from WDSuite, neighborhood occupancy trends sit near the metro median, and nearby amenities align with everyday needs, creating a straightforward platform to enhance renewals and operational efficiency.
Vintage positioning offers clear value-add angles: 1980s construction typically benefits from common-area refreshes, energy and systems upgrades, and selective interior renovations to lift rent-to-quality without overextending affordability. Within a 3-mile radius, population and household growth — with forecasts indicating further renter pool expansion — supports lease-up velocity and retention, while relatively accessible ownership costs argue for pragmatic pricing and experience-driven retention strategies.
- Deep renter base: high neighborhood renter-occupied share supports demand and renewals.
- Value-add potential: 1985 construction offers scope for systems upgrades and targeted interior improvements.
- Demand support: 3-mile population and household growth point to a larger tenant pool and occupancy stability.
- Operations first: mid-range neighborhood rents suggest room to drive collections and retention via management and amenities.
- Risks: below-average safety metrics and accessible ownership alternatives may temper pricing power; underwrite conservatively and prioritize resident experience.