| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 18th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 S Carroll St, Athens, TX, 75751, US |
| Region / Metro | Athens |
| Year of Construction | 1976 |
| Units | 44 |
| Transaction Date | 2012-06-08 |
| Transaction Price | $750,000 |
| Buyer | CRA RENTALS LLC |
| Seller | MIGNEAULT WILLIAM H |
401 S Carroll St Athens, TX Multifamily Investment
Renter demand is supported by a high renter-occupied housing share and relatively light affordability pressure, according to WDSuite’s CRE market data. The property’s positioning within an amenity-served rural node suggests stable day-to-day convenience for tenants.
Athens (Rural) scores an A neighborhood rating and ranks 3rd among 41 metro neighborhoods, indicating competitive fundamentals within the local context. Daily needs are well-covered: restaurants, pharmacies, cafes, childcare, and groceries rank at or near the top among 41 neighborhoods, with national amenity percentiles generally above the midpoint, supporting tenant convenience and potential lease retention.
The average neighborhood construction year trends around the late 1980s; this property was built in 1976. Older vintage typically implies capital planning for building systems and interiors, but it can also open value‑add pathways to modernize common areas and unit finishes relative to nearby 1980s stock.
Neighborhood occupancy sits in the lower tier locally (ranked 33rd of 41) and below national norms, signaling a need for focused leasing strategy and product differentiation. Counterbalancing this, the share of housing units that are renter‑occupied is high (top tier locally), which points to a deeper tenant base for multifamily and supports demand resiliency for well-positioned assets.
Within a 3‑mile radius, demographics show recent population softness but a projected rebound with increases in total households over the next five years. This points to a larger tenant base ahead and supports occupancy stability for competitively priced units. Median household incomes in the 3‑mile area have risen meaningfully in recent years, while neighborhood rents benchmark slightly below national medians—together suggesting manageable rent-to-income dynamics that can aid lease retention and measured rent growth. Average school ratings sit below national averages, which may moderate appeal for some family renters; amenity access partially offsets this with strong daily‑needs coverage.
Safety indicators are mixed but trending constructively. Overall crime levels track near the national midpoint, while violent‑offense rates are lower than many areas nationally but not top tier. Importantly, the neighborhood has shown a notable year‑over‑year decline in violent‑offense estimates (top quartile improvement nationally), indicating recent momentum rather than deterioration.
Compared with Athens‑area peers, the neighborhood’s crime rank sits in the lower half among 41 neighborhoods, so prudent on‑site measures (lighting, access control, partnership with local policing) remain relevant for tenant comfort and leasing. Investors should underwrite with these comparative trends in mind rather than block‑level conclusions.
Regional employment access includes insurance services that broaden the commute shed and help support renter demand for workforce housing.
- State Farm Insurance — insurance services (17.8 miles)
401 S Carroll St offers a 44‑unit footprint in an A‑rated Athens neighborhood with strong daily‑needs access and a high renter‑occupied housing share that reinforces the depth of the tenant base. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends run below metro and national norms, making lease‑up strategy and product positioning important. The property’s 1976 vintage suggests clear value‑add and systems‑upgrade angles versus the neighborhood’s predominantly 1980s stock, creating potential to capture demand from renters seeking updated yet attainable units.
Within a 3‑mile radius, recent softness in population contrasts with forward projections showing growth in households, which can expand the renter pool and support occupancy stability. Rising local incomes alongside rents that benchmark below national medians point to manageable affordability pressure, giving operators room for measured rent optimization while maintaining retention.
- A‑rated neighborhood with strong amenity access supports tenant convenience and retention
- High share of renter‑occupied housing units signals a deep local tenant base
- 1976 vintage presents value‑add and systems‑upgrade opportunities versus nearby 1980s stock
- Forecast household growth within 3 miles supports occupancy stability and lease-up
- Risk: neighborhood occupancy sits below peers; execution relies on focused leasing, competitive finishes, and prudent operating controls