| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Paschal St, Kerrville, TX, 78028, US |
| Region / Metro | Kerrville |
| Year of Construction | 1986 |
| Units | 48 |
| Transaction Date | 2011-06-08 |
| Transaction Price | $1,575,000 |
| Buyer | 29630 N HWY 281 LLC |
| Seller | AMERICAN SELF STORAGE BAKERSFIELD LLC |
1000 Paschal St Kerrville Multifamily Investment Outlook
Neighborhood renter concentration supports a stable tenant base, and a high value-to-income ownership market reinforces reliance on rentals, according to WDSuites CRE market data.
Situated in Kerrvilles inner-suburban fabric, the property benefits from everyday conveniences: grocery and pharmacy access rank among the strongest in the metro (top quartile among 24 neighborhoods), indicating practical walk/drive convenience that can support leasing velocity and day-to-day livability. Caf s and restaurants also score competitively (top quartile metro positioning), helping reinforce neighborhood appeal for renters.
Neighborhood occupancy trends sit below national averages, which suggests an emphasis on disciplined leasing and renewals to maintain stability. At the same time, renter-occupied housing accounts for a meaningful share of units in the neighborhood, indicating depth in the tenant base and steady multifamily demand. Median contract rents are mid-market for the area, and the rent-to-income profile points to manageable affordability pressurefavorable for retention.
Demographic statistics aggregated within a 3-mile radius show modest recent population growth with a projected increase in both population and households through 2028, expanding the renter pool and supporting occupancy over the medium term. Household incomes have trended higher in recent years, which, alongside expected rent growth, suggests headroom for measured rent optimization when paired with targeted unit improvements.
Counterbalancing factors include limited park access in the immediate area (parks rank weakest among 24 metro neighborhoods) and below-average school ratings versus national benchmarks. For investors, these are manageable positioning considerations that can be offset by convenience retail density and a pragmatic value-add strategy.
Safety indicators for the neighborhood track below national averages, with crime metrics placing it below the safer tiers locally (ranked in the lower half among 24 Kerrville neighborhoods). National percentiles point to relatively higher property and violent offense exposure compared with many U.S. neighborhoods, though recent data shows violent incidents easing year over year while property incidents ticked up.
For underwriting, this supports conservative assumptions on security, lighting, and tenant communications. Monitoring trend direction and concentrating improvements on common areas can help bolster resident perception and retention without overreaching on expectations.
Built in 1986, the asset is slightly older than the neighborhood average vintage, positioning it for targeted renovations and systems upgrades that can capture value-add upside. Convenience retail densityparticularly groceries and pharmacies with top-quartile metro accesssupports day-to-day livability and leasing. According to CRE market data from WDSuite, neighborhood renter concentration and a high-cost ownership landscape reinforce multifamily demand, while rent-to-income levels suggest room for disciplined rent management tied to upgrades.
Looking ahead, 3-mile radius projections call for population and household growth by 2028, implying a larger tenant base and support for occupancy stability. Balancing factors include below-national safety standings, limited park access, soft neighborhood occupancy relative to national benchmarks, and school quality that trails national normsconsiderations best addressed through prudent capex, resident experience improvements, and conservative lease-up assumptions.
- 1986 vintage enables value-add strategy via unit and systems upgrades
- Strong grocery/pharmacy access (top quartile among 24 metro neighborhoods) supports livability and leasing
- Renter concentration and high-cost ownership dynamics sustain multifamily demand
- 3-mile population and household growth outlook supports tenant base expansion
- Risks: below-national safety standing, limited parks, softer neighborhood occupancy, and modest school ratings