| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 18th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 E Corsicana St, Athens, TX, 75751, US |
| Region / Metro | Athens |
| Year of Construction | 1978 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
900 E Corsicana St, Athens TX — Multifamily Value-Add Opportunity
Renter concentration in the immediate neighborhood supports a consistent tenant base, while 1978 vintage suggests renovation upside relative to the local 1987 average, according to CRE market data from WDSuite. Amenity access is solid for a rural setting, providing daily-needs convenience that can aid leasing and retention.
Located in Athens, TX, the property sits in a rural neighborhood rated A (ranked 3 of 41 locally), indicating competitive fundamentals among Athens neighborhoods. Amenities are a relative strength: the area ranks first of 41 for restaurants, cafes, childcare, and pharmacies, with national percentiles generally above average, which can support day-to-day convenience and resident stickiness. Park access is limited, a consideration for family-oriented amenities.
Construction trends point to older stock locally (average 1987). With a 1978 build, this asset is older than the neighborhood average, highlighting the importance of capital planning and presenting potential value-add paths such as unit and systems upgrades to improve competitive positioning against newer product.
Tenure data signal depth in the renter pool. At the neighborhood level, an estimated 53.5% of housing units are renter-occupied (top decile nationally), supporting multifamily demand. Within a 3-mile radius, renter-occupied share is about 46%, still a substantial base for leasing. These figures indicate a broad tenant pool rather than preference, and they suggest more resilient absorption for appropriately positioned units.
Within a 3-mile radius, recent years show softer population and household counts; however, forecasts point to growth in both population and households by 2028, implying a larger tenant base ahead. Rising median incomes in the 3-mile area also point to improved rent capacity over the medium term, which can support occupancy stability and pricing power for renovated units.
Affordability appears favorable for renters locally: neighborhood rent-to-income ratios are low, implying room for carefully managed rent growth where renovations add value. Neighborhood median asking rents have risen over the past five years, and the 3-mile radius shows even stronger rent gains, signaling ongoing renter demand if units are competitively finished and priced.
Counterbalancing these strengths, current neighborhood occupancy levels are soft relative to national norms, and average school ratings are below national averages. Investors should underwrite conservative lease-up timelines and consider amenity-light trade-offs (e.g., limited parks) when targeting family renters. Still, the combination of renter concentration, amenity access, and projected household growth provides a constructive backdrop for multifamily operations.
Safety indicators are mixed but improving in key areas. Overall crime levels benchmark near the national average (national percentile around 49), placing the neighborhood roughly in the middle of the pack locally rather than among the safest or riskiest Athens areas. Importantly, estimated violent offense rates show a notable year-over-year improvement, ranking in the stronger tier nationally for trend momentum.
Within the Athens metro context (41 neighborhoods), the area does not rank among the highest-safety segments, yet recent declines in estimated violent offenses suggest conditions are stabilizing. For investors, the takeaway is to maintain standard security and lighting plans and emphasize on-site management presence, while recognizing the positive directional trend.
Regional employment access is diversified at the county and nearby-metro level, with commuting links supporting workforce housing demand. Notable nearby employer includes insurance services, which can aid retention among residents with stable commute patterns.
- State Farm Insurance — insurance (18.3 miles)
This 72-unit asset offers a practical value-add thesis: a 1978 vintage in a neighborhood of mainly 1980s stock positions upgrades to enhance competitiveness, while strong renter concentration indicates depth in the tenant base. Amenity access is a local advantage for a rural setting, and within a 3-mile radius, forecasts point to population and household growth that can support leasing, rent optimization, and occupancy stability over time. According to CRE market data from WDSuite, neighborhood rents have trended upward and rent-to-income levels remain low, suggesting headroom where renovations create clear product differentiation.
Risks to underwrite include softer neighborhood occupancy versus national norms, limited parks and below-average school ratings, and the need for capital investment consistent with a late-1970s build. With disciplined capex and pricing, the asset can align with demand from renters seeking upgraded but attainable options in Athens.
- Value-add potential from 1978 vintage relative to local 1980s stock
- Renter concentration supports a broad tenant base and leasing depth
- Amenity access (food, pharmacy, grocery) aids retention in a rural location
- Forecast household and income growth within 3 miles supports rent optimization
- Risks: soft neighborhood occupancy, limited parks/lower school ratings, and capex needs for a 1970s asset