| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 39th | Fair |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 421 Wood St, Kemp, TX, 75143, US |
| Region / Metro | Kemp |
| Year of Construction | 1983 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
421 Wood St, Kemp TX Multifamily—Stable, Value-Add Position
Neighborhood occupancy has improved over the past five years while rents remain comparatively accessible, according to WDSuite’s CRE market data. This combination supports tenant retention and measured pricing power for a well-managed asset.
Located in rural Kemp within the Athens, TX metro, the property sits in a submarket characterized by modest amenity density but practical daily needs. Grocery access is competitive among Athens neighborhoods, while cafes, parks, and pharmacies are sparse—typical of lower-density areas. Investors should underwrite convenience-driven demand rather than lifestyle amenities as the primary draw.
Neighborhood rents sit below national norms, reinforcing a more accessible cost of living that can support lease retention and steady absorption. The neighborhood s occupancy rate ranks competitive among Athens neighborhoods and has trended upward in recent years, a constructive sign for stabilization and renewal cadence. Median home values are also lower relative to national levels, which can create some competition from ownership but generally sustains interest in more accessible rental options.
Vintage context matters: built in 1983, this asset is slightly older than the neighborhood average construction year. That can translate to targeted capital expenditure needs (systems, exteriors, common areas) but also potential value-add upside if renovations elevate unit finishes and operating efficiency versus older nearby stock.
Tenure patterns indicate a relatively modest share of renter-occupied housing units in the immediate area, suggesting a smaller but stable renter pool. Within a 3-mile radius, demographics point to recent population softness but an expected increase in household counts alongside smaller average household sizes over the next five years, which can expand the local renter base and support occupancy stability for well-positioned multifamily.
Safety indicators for the neighborhood are competitive among Athens, TX neighborhoods and sit above the national midpoint. According to WDSuite s data, both violent and property offense rates have declined over the past year, an encouraging directional trend for resident retention and leasing stability. As always, investors should corroborate trends with current, property-level measures and standard risk management practices.
Local employment is anchored by regional services and insurance offices, supporting workforce housing demand and manageable commute times to nearby jobs, including State Farm Insurance.
- State Farm Insurance — insurance services (5.6 miles)
This 36-unit, 1983-vintage asset offers a pragmatic value-add opportunity in a rural Texas location where neighborhood rents remain below national norms and occupancy has improved. Based on CRE market data from WDSuite, the area s competitive occupancy standing within the Athens metro, combined with a modest renter concentration, points to a tenant base that values accessible rents and proximity to everyday services.
Investor focus should center on selective renovations to improve unit quality and operating efficiency, leveraging affordability and steady neighborhood demand to support retention. Demographic signals within a 3-mile radius show recent population softness but a projected increase in household counts and smaller average household sizes, which can broaden the renter pool and sustain leasing. Key risks include limited lifestyle amenities and a smaller overall renter base, warranting disciplined expense control and conservative lease-up assumptions.
- Occupancy competitive within Athens metro, with upward neighborhood trend supporting stabilization
- Below-national rent levels offer retention advantages and room for targeted pricing over time
- 1983 vintage creates clear value-add pathways through selective renovations and system upgrades
- Within 3 miles, forecast household growth and smaller sizes can expand the renter pool and support occupancy
- Risk: limited amenity density and a smaller renter concentration require prudent underwriting and expense discipline