| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 9th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 119 E Walnut St, Hillsboro, TX, 76645, US |
| Region / Metro | Hillsboro |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $2,237,060 |
| Buyer | WALNUT MANOR PARTNERS LLC |
| Seller | WALNUT MANOR HILLSBORO LLC |
119 E Walnut St Hillsboro Multifamily Investment
Neighborhood fundamentals point to steady renter demand and manageable pricing power, according to WDSuite’s CRE market data. Focus is on renter concentration and amenity access in a small-market setting rather than rapid growth.
Situated in Hillsboro, the property benefits from a small-market environment where everyday amenities cluster nearby. Dining and daily-needs access rank in the top quartile among 19 Hill County neighborhoods for restaurants, pharmacies, parks, and cafes, signaling convenience that can aid retention. Childcare options, however, are relatively limited within the neighborhood, which may matter for family-oriented leasing.
Neighborhood occupancy is around the low-80s and has improved over the last five years; this reflects a stable but not tight rental landscape at the neighborhood level (occupancy refers to the neighborhood, not the property). Renter-occupied share of housing units is competitive for the county—top quartile among 19 neighborhoods—supporting a consistent tenant base for multifamily operators. Median rents in the neighborhood track on the lower side for the region, while rent-to-income levels indicate modest affordability pressure, which can support lease retention.
Within a 3-mile radius, demographics show modest population growth and slightly larger household sizes over recent years, implying a broader tenant pool and potential demand for larger floor plans. With an average unit size of roughly 998 square feet at the property, larger layouts may align with family and roommate demand patterns typical of small Texas markets.
Ownership costs in the neighborhood are comparatively low versus national benchmarks. While that can introduce competition from entry-level homeownership, it also means multifamily communities that emphasize convenience and well-maintained operations can preserve demand through service quality, location strengths, and flexible leasing.
Comparable neighborhood-level safety data is limited for this location. Without a published crime rank for the 19-neighborhood Hill County metro set, investors should use standard diligence to benchmark trends against county and peer submarkets rather than drawing block-level conclusions.
When available, investors typically compare neighborhood ranks against the 19-neighborhood county set and national percentiles to understand whether an area sits in the top quartile nationally or is merely competitive locally. In the absence of those metrics here, emphasize on-the-ground verification and recent trend reviews to contextualize leasing risk and retention.
This 20-unit asset offers exposure to a renter base supported by everyday amenity access and a neighborhood renter concentration that sits in the top quartile among 19 Hill County neighborhoods. Neighborhood occupancy has trended upward over five years, and rent levels remain approachable, helping sustain retention even as growth remains measured. Based on commercial real estate analysis from WDSuite, the submarket’s convenience-oriented dynamics and lower rent-to-income burden point to steady, needs-based demand rather than volatility.
Key considerations include competition from comparatively accessible homeownership and a smaller economic base typical of rural Texas markets. Operators who prioritize maintenance, unit livability, and service quality can leverage proximity conveniences and larger average unit sizes to support leasing velocity and renewal rates, while monitoring occupancy softness at the neighborhood level.
- Renter-occupied housing share is top quartile in Hill County, supporting a stable tenant base.
- Everyday amenity access (restaurants, pharmacies, parks, cafes) ranks competitively, aiding retention.
- Neighborhood rents and rent-to-income suggest manageable affordability pressure that can support renewals.
- Larger average unit sizes align with family and roommate demand seen within a 3-mile radius.
- Risks: accessible entry-level homeownership and a smaller local economy can temper rent growth and occupancy.