| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 20th | Poor |
| Amenities | 10th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 S Palestine St, Athens, TX, 75751, US |
| Region / Metro | Athens |
| Year of Construction | 1984 |
| Units | 44 |
| Transaction Date | 2016-08-24 |
| Transaction Price | $1,351,900 |
| Buyer | FDI FAIRVIEW SOUTH LTD |
| Seller | FAIRVIEW SOUTH LTD |
1600 S Palestine St, Athens TX Multifamily Investment
Renter concentration in the surrounding neighborhood and a high-cost ownership backdrop support steady tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy is discussed at the neighborhood level, not the property, and trends indicate stability relative to local peers.
The property sits in a suburban Athens, TX neighborhood rated C where local fundamentals present a balanced profile for workforce-oriented multifamily. Neighborhood occupancy is competitive among Athens neighborhoods (measured against 41 neighborhoods) while tracking below national leaders, suggesting stable day-to-day operations with moderated pricing power. The share of housing units that are renter-occupied is high for the metro, indicating a deep tenant base and consistent leasing activity.
Amenity access is above the metro median when ranked against 41 Athens neighborhoods, though it is limited compared with national benchmarks. Parks score comparatively well locally, which can aid livability and retention, but everyday retail and services are thinner than urban cores—an operational consideration for positioning and resident expectations.
Within a 3-mile radius, recent years showed a small population decline but a slight increase in household counts, pointing to smaller household sizes and a steady renter pool. Looking ahead to 2028, WDSuite’s CRE market data indicates projected population growth and a notable increase in households, which would expand the local tenant base and support occupancy stability.
Ownership costs appear elevated relative to local incomes (high value-to-income ratio in the neighborhood rank set of 41), which tends to keep reliance on rental options robust. At the same time, rent-to-income levels are moderate, a combination that can support lease retention and measured rent growth management. The average neighborhood construction year is 1995; at 1984, this asset is older than nearby stock, pointing to potential value-add through targeted renovations or system upgrades to enhance competitive positioning.
Safety indicators for the neighborhood are mixed in a metro context but comparatively favorable versus national norms. Against 41 Athens neighborhoods, crime ranks place the area below the metro average for safety; however, national percentiles indicate the neighborhood performs above the U.S. average and approaches the top quartile nationally on violent-offense measures. Recent trends show violent incidents declining year over year, while property offenses have been more stable, according to WDSuite’s CRE market data.
The wider labor shed includes insurance and corporate services, supporting workforce housing demand and commute convenience relative to regional job centers. The employers listed below reflect key nearby demand drivers.
- State Farm Insurance — insurance services (19.2 miles)
This 44-unit, 1984-vintage asset offers a straightforward value-add and cashflow story in a renter-heavy Athens submarket. The neighborhood shows competitive occupancy versus local peers, and a high renter-occupied share supports depth of demand. Elevated ownership costs relative to incomes reinforce reliance on multifamily, while moderate rent-to-income levels support lease retention and disciplined pricing. According to CRE market data from WDSuite, demographics within a 3-mile radius point to projected population growth and an increase in households by 2028, expanding the renter pool and supporting long-term operations.
The asset is older than the neighborhood’s average vintage, creating clear opportunities to invest in unit and system upgrades to improve competitive standing. Amenity access is thinner than national peers, so positioning around value, functionality, and reliability—rather than premium lifestyle—can align with local demand and sustain occupancy.
- Renter-heavy neighborhood supports a deep tenant base and stable leasing.
- Competitive neighborhood occupancy versus Athens peers underpins cashflow consistency.
- Elevated ownership costs relative to income sustain multifamily reliance and pricing power.
- 1984 vintage presents value-add potential through targeted renovations and modernization.
- Risk: Amenity scarcity and mixed metro safety signals require careful tenant targeting and asset management.