| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 60th | Good |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 Ivy Ln, Boerne, TX, 78006, US |
| Region / Metro | Boerne |
| Year of Construction | 1996 |
| Units | 88 |
| Transaction Date | 2017-05-08 |
| Transaction Price | $2,687,500 |
| Buyer | BOERNE ARBORS HOLDINGS LLC |
| Seller | AUST CONNIS K |
216 Ivy Ln Boerne Multifamily Investment Opportunity
Neighborhood occupancy remains steady and homeownership costs are elevated relative to incomes, supporting durable renter demand in Boerne, according to CRE market data from WDSuite. These indicators point to stable leasing conditions for a professionally managed asset.
The property sits in an inner-suburban pocket of the San Antonio–New Braunfels metro that rates highly for day-to-day convenience. Restaurants and groceries are dense for the metro, with neighborhood measures in the 90th and high-80th national percentiles, and pharmacies scoring in the low-90s — a combination that tends to bolster renter retention through convenience, based on WDSuite’s CRE market data. Park access is limited locally, which may modestly reduce lifestyle appeal for outdoor-focused tenants.
Neighborhood schools average roughly 4.0 out of 5 (84th percentile nationally), a competitive signal for family-oriented demand. The neighborhood is rated A+ overall and ranks 22nd among 595 metro neighborhoods — competitive among San Antonio–New Braunfels subareas — underscoring location quality for workforce and move-up renters.
For the neighborhood (not the property), occupancy trends are solid at approximately 93.8% with a mid-60s national percentile reading, indicating balanced supply–demand conditions rather than overheated leasing. Within a 3-mile radius, about 37% of housing units are renter-occupied, providing a meaningful tenant base for multifamily operators while still coexisting with a large owner segment.
Ownership remains a high-cost proposition nearby: neighborhood home values sit around the low-to-mid $400Ks with a value-to-income ratio in the top national percentile. In practice, this high-cost ownership market reinforces reliance on multifamily housing and supports pricing power at renewal, though operators should monitor affordability pressure where rent-to-income ratios run high. Construction in the area skews older (average vintage mid-1980s), which generally helps newer assets differentiate on systems and finishes.
Demographic statistics aggregated within a 3-mile radius show meaningful population and household expansion in recent years, with additional renter pool expansion projected. Median contract rents have grown notably and are projected higher, signaling continued willingness to pay in this submarket while calling for careful lease management to mitigate turnover risk.
Comparable neighborhood safety benchmarks are not available in WDSuite’s current release for this location. Investors should evaluate on-the-ground conditions relative to broader San Antonio–New Braunfels norms — including daytime and evening observations, property-level incident history, and discussions with local operators — to contextualize security needs and operating costs.
Regional employment nodes within commuting range include energy and financial services anchors that can support leasing stability through diverse, white-collar payrolls. Notable nearby employers include Valero Energy, USAA Federal Savings Bank, USAA operations, Andeavor, and USAA headquarters.
- Valero Energy — energy (15.8 miles) — HQ
- USAA Federal Savings Bank — banking (19.6 miles)
- Usaa Ops Building — operations center (19.8 miles)
- Andeavor — energy (19.9 miles) — HQ
- Usaa — insurance (20.1 miles) — HQ
216 Ivy Ln offers 88 units in Boerne with a 1996 vintage that is newer than much of the surrounding stock (area average mid-1980s), positioning the asset competitively versus older properties while still leaving room for targeted system updates or modernization. Neighborhood-level occupancy is steady and ownership costs are high relative to incomes, both supportive of sustained renter demand and renewal capture according to CRE market data from WDSuite.
Within a 3-mile radius, population and household counts have expanded and are projected to increase further, pointing to a larger tenant base over time. Median rents have risen historically and are forecast to continue upward, suggesting pricing power; however, elevated rent-to-income metrics in the neighborhood indicate affordability pressure that warrants disciplined lease management and amenity/value positioning.
- Competitive 1996 vintage versus older local stock, with potential value-add via selective updates
- Neighborhood occupancy is stable (neighborhood metric), supporting leasing consistency
- High-cost ownership market sustains renter reliance and renewal opportunities
- Demand tailwinds from 3-mile population and household growth bolster the tenant base
- Risk: elevated rent-to-income ratios imply affordability pressure and potential retention sensitivity