| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Best |
| Demographics | 17th | Poor |
| Amenities | 35th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 369 Freeny Dr, Kenedy, TX, 78119, US |
| Region / Metro | Kenedy |
| Year of Construction | 1999 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
369 Freeny Dr, Kenedy TX Multifamily Investment
Rural submarket dynamics point to steady renter demand supported by a meaningful renter-occupied share in the surrounding neighborhood, according to WDSuite’s CRE market data. Investors should underwrite to local occupancy softness while leveraging competitive positioning within the metro on everyday amenities.
The property sits in a Rural neighborhood in Kenedy with a B- neighborhood rating, positioned around the middle of the metro (ranked 5 among 9 neighborhoods). Local living needs are relatively well served within the metro: grocery, parks, and pharmacy access rank at or near the top of the 9-neighborhood set, even if these amenity levels are modest in national terms. In short, the area is competitive within its region but less dense and service-rich than major metros.
Neighborhood occupancy trends run below the metro median (ranked 6 of 9), indicating softer lease-up and renewal conditions than more supply-constrained parts of the region. For underwriting, this suggests the need for pragmatic rent assumptions and emphasis on retention. Balancing this, the neighborhood shows a relatively strong renter concentration: an estimated 33.1% of housing units are renter-occupied, which is above the metro median (ranked 4 of 9) and in a higher national percentile. That depth of renter households supports a stable tenant base for workforce-oriented product.
Vintage matters for competitiveness. With construction in 1999, the asset is newer than the neighborhood’s average housing vintage (1967). Newer product in this context typically offers an edge on systems and functionality versus older stock, though capital planning should still consider routine modernization opportunities to maintain leasing traction.
Ownership context provides additional insight for rental demand. While local home values are lower than many U.S. markets, ownership costs relative to incomes trend elevated compared with national norms (high national percentile on value-to-income). For investors, this mix often sustains interest in rental options, aiding tenant retention and supporting occupancy over time.
Comparable neighborhood-level safety data were not available in WDSuite for this location at the time of analysis. Investors should rely on current, reputable public sources and property-level records to assess recent trends, and consider standard measures such as lighting, access control, and resident engagement as part of risk management.
This 48-unit, 1999-vintage asset offers relative competitiveness versus older neighborhood stock while serving a renter base that is sizable for the area. Based on CRE market data from WDSuite, the surrounding neighborhood’s renter-occupied share is above the metro median, indicating depth in the tenant pool even as neighborhood occupancy levels trend below the metro median. Investors can position around value, reliable operations, and targeted upgrades to capture durable demand.
Within the metro context, everyday amenities test well relative to peer neighborhoods, which supports day-to-day livability and retention. Ownership costs relative to incomes skew high by national comparison, which can reinforce reliance on rental housing and help stabilize leasing, though underwriting should remain conservative given softer local occupancy signals.
- 1999 construction offers a competitive edge versus older local stock, with practical modernization opportunities.
- Renter-occupied share above the metro median supports a deeper tenant base and leasing durability.
- Metro-relative amenity access (grocery, parks, pharmacy) aids livability and renewal potential.
- Elevated ownership costs relative to incomes sustain demand for rentals, supporting occupancy management.
- Risk: Neighborhood occupancy runs below the metro median; pro forma should assume measured lease-up and renewal velocity.