| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 21st | Fair |
| Amenities | 21st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 123 Terrell St, Alice, TX, 78332, US |
| Region / Metro | Alice |
| Year of Construction | 1981 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
123 Terrell St, Alice, TX Multifamily Investment
Neighborhood data point to steady renter demand and pricing set at the lower end of the metro, according to WDSuite’s CRE market data. The key investor consideration here is balancing occupancy stability with tenant affordability management.
The property sits in an Inner Suburb neighborhood of Alice rated A- and ranked 5 out of 25 metro neighborhoods, placing it in the top quartile locally based on WDSuite’s CRE market data. These neighborhood metrics are measured for the area, not the property. Occupancy in the neighborhood has trended upward in recent years and remains around typical national levels, supporting baseline leasing stability for workforce-oriented assets.
Renter-occupied housing represents an estimated 54.3% of units in the neighborhood (high nationally), signaling a broad tenant base for multifamily and potential depth for renewals and backfill. Median asking rents in the neighborhood track on the lower side for the metro and have grown over the last five years, which can aid lease-up and retention while still requiring close attention to rent-to-income thresholds.
Local livability is mixed. Grocery access is competitive among Alice neighborhoods (ranked 3 of 25), while cafes, parks, and pharmacies are limited nearby. Average school ratings in the neighborhood fall below metro norms, which can affect appeal for family renters and may concentrate demand among value-seeking households. Investors should underwrite marketing toward convenience- and value-focused renter segments rather than school-driven movers.
Within a 3-mile radius, recent population and household counts have contracted, yet WDSuite’s data indicate a forward view of population growth and a notable increase in households in coming years. This points to a potential renter pool expansion over the medium term, supportive of occupancy stability, although lease-up pacing may remain sensitive to pricing in the near term. Home values are modest in nominal terms, but ownership costs relative to local incomes are elevated by national comparison, which tends to sustain reliance on rental housing and can support multifamily demand.
The asset’s 1981 construction is older than the neighborhood’s more recent average vintage. That age profile suggests practical value-add and systems modernization opportunities, as well as the need to plan for capital expenditures to maintain competitive positioning against newer stock.
Comparable safety insights for this neighborhood are not available in WDSuite’s current dataset. Investors typically benchmark neighborhood safety trends against metro and national baselines; in the absence of published figures, a prudent approach is to review multi-year trend indicators and insurer/lender guidance rather than relying on single-year anecdotes.
Given limited public metrics, contextual checks such as daytime activity levels, proximity to services, and property-level security measures can help frame leasing risk and retention considerations without over-interpreting block-level variation.
This 50-unit, 1981-vintage asset offers exposure to a renter-heavy neighborhood with rents positioned at the lower end of the metro. According to CRE market data from WDSuite, neighborhood occupancy has improved over the last several years and remains around typical national levels, pointing to a stable demand backdrop. The older vintage creates clear value-add potential through unit upgrades and selective building systems work to compete against newer stock.
Investor underwriting should balance the area’s high renter concentration and grocery-access convenience against affordability pressure signals and modest neighborhood school ratings. Demographic data aggregated within a 3-mile radius show recent softness but a forward outlook for household growth, which can support a broader tenant base over time if rents are managed to local incomes.
- Renter-heavy neighborhood supports depth of tenant demand and renewal prospects.
- Neighborhood occupancy has improved, aiding baseline stability for leasing.
- 1981 vintage presents value-add and systems modernization opportunities.
- Grocery access is competitive locally; positioning can target value-focused renters.
- Risks: tenant affordability pressure and below-metro school ratings may temper rent growth and family-demand capture.