| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 34th | Poor |
| Amenities | 24th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 905 S Panna Maria Ave, Karnes City, TX, 78118, US |
| Region / Metro | Karnes City |
| Year of Construction | 1994 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
905 S Panna Maria Ave, Karnes City Multifamily Investment
Neighborhood occupancy in the mid-80s with a modest five-year uptick points to steady leasing conditions; according to WDSuite’s CRE market data, a renter-occupied share near one-third indicates a defined but durable tenant base for smaller assets.
This rural Karnes City neighborhood carries a B rating and shows investment appeal centered on stable occupancy and practical affordability. Neighborhood occupancy is 84.6% and has improved over the last five years, suggesting resilience that can support cash flow for a 24‑unit property. Median contract rents are low at $590 with five-year growth, which helps sustain retention but may limit near-term pricing power.
Amenities are modest but comparatively accessible for the county: amenity access ranks 2nd among 9 neighborhoods in the metro, placing it in the top quartile locally, while national amenity percentiles are mid-range. Cafes and grocery options are present at low densities typical of rural settings. Average school ratings trend low, which investors should factor into leasing strategy and tenant mix expectations.
Tenure patterns point to a smaller but steady renter pool: about 35.2% of housing units are renter-occupied, a share that supports demand for workforce-oriented multifamily while implying a more targeted leasing funnel than urban cores. With a rent-to-income ratio around 0.07, affordability pressure is limited, which can bolster retention even if rent growth is measured.
For context on ownership competition, median home values are approximately $162,000 and the value-to-income ratio is 2.7. This more accessible ownership landscape can compete with rentals, so sustained performance likely hinges on clean operations, value-add positioning, and maintaining an edge versus single-family alternatives. The neighborhood’s average construction vintage is 1974, and this asset’s 1994 vintage offers relative competitiveness versus older stock while still warranting systems updates or light renovations to meet renter expectations.
Safety indicators are mixed in ways investors should monitor. Compared with neighborhoods nationwide, property offense levels benchmark very favorably (top percentile nationally) and show a year-over-year improvement. Violent offense compares favorably as well (high national percentile), yet recent year-over-year change points to a negative swing, underscoring the importance of tracking trend direction rather than relying on a single snapshot.
Overall, signals suggest comparatively strong positioning on property crime with a need for continued diligence on violent crime trends. Operators should incorporate standard security and lighting measures and review local data periodically to align with resident expectations and leasing objectives.
The 24‑unit asset at 905 S Panna Maria Ave offers steady fundamentals anchored by neighborhood occupancy of 84.6% and restrained rent levels that support retention. Built in 1994, it is newer than the area’s average 1970s-era stock, providing a relative competitive edge against older properties while leaving room for targeted value-add through interior refreshes and systems modernization. According to CRE market data from WDSuite, the renter-occupied share near one-third supports a durable, workforce-leaning tenant base, though the accessible ownership market can temper rent growth.
The investment case centers on operating stability, affordability-driven retention, and light-to-moderate renovation potential rather than aggressive rent lifts. Investors should calibrate underwriting to measured rent growth, monitor safety trends, and differentiate on maintenance quality and unit finishes to sustain occupancy.
- Occupancy in the mid-80s with a positive five-year trend supports consistent leasing
- 1994 vintage is newer than area norms, enabling competitive positioning with targeted upgrades
- Affordability (low rent-to-income) favors retention and reduces turnover risk
- Measured upside via operational improvements and selective value-add rather than outsized rent growth
- Risks: recent violent-crime trend volatility, low school ratings, and competition from accessible ownership