| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 58th | Good |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Plaza Dr, Kerrville, TX, 78028, US |
| Region / Metro | Kerrville |
| Year of Construction | 1984 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
115 Plaza Dr, Kerrville, TX multifamily investment
Neighborhood data indicate high renter demand and steady occupancy, with the area s multifamily occupancy measured at the neighborhood level remaining strong according to WDSuite s CRE market data. The property s suburban setting supports stable leasing dynamics for a 120-unit asset in Kerrville.
Kerrville s suburban neighborhood around 115 Plaza Dr posts a high neighborhood rating (A-) and is above the metro median overall (rank 5 of 24), signaling balanced fundamentals for multifamily investors. Neighborhood occupancy ranks 5 of 24, placing it in the top quartile locally, which supports expectations for consistent lease-up and retention at the submarket level.
Amenities skew toward dining and cafes, with restaurant density ranking 2 of 24 and cafes 3 of 24, while grocery, parks, and pharmacies are sparse within the immediate neighborhood. For investors, the mix suggests convenience for everyday dining and services nearby, but residents may travel farther for full-service groceries and recreation; this typically favors assets with on-site conveniences and resident programming.
At the neighborhood level, the median rent and rent-to-income metrics indicate moderate affordability (rent-to-income ranks 6 of 24), which can help underwriting around tenant retention and renewal management. Median home values are lower relative to many U.S. markets (national percentile ~35); in practice, that can introduce some competition from ownership options, but the area s renter-occupied share is high for the metro (renter concentration ranks 2 of 24), indicating a deep tenant base for multifamily.
Construction vintage in the area averages 1991 (rank 11 of 24), while this asset was built in 1984. The older vintage points to typical capital needs and value-add potential (exteriors, common areas, and systems) to sharpen competitive positioning against slightly newer stock, particularly where amenities are limited in the surrounding neighborhood.
Within a 3-mile radius, WDSuite data show population growth over the last five years with additional gains forecast, alongside increases in households and rising median incomes. These trends expand the local renter pool and support occupancy stability and rent growth management relative to metro and national multifamily property research benchmarks.
Neighborhood safety indicators benchmark above the metro median (crime rank 10 of 24) and fall in the upper half nationally (around the 57th percentile), suggesting comparatively favorable conditions versus many U.S. neighborhoods. Violent incidents benchmark stronger, with national positioning near the 65th percentile, which places the area in the better-performing half nationwide.
Recent trend signals are mixed: estimates point to a year-over-year decrease in violent offenses at the neighborhood level, while property offenses increased over the same period. For investors, this argues for standard loss-prevention measures (lighting, access control, and visible management presence) to sustain leasing confidence and minimize non-rent costs.
This 120-unit community built in 1984 benefits from a neighborhood that ranks above the metro median, with top-quartile occupancy performance at the neighborhood level supporting leasing stability. Based on CRE market data from WDSuite, the area s renter concentration and moderate rent-to-income positioning point to a durable tenant base, while a lower-cost ownership landscape in Kerrville can introduce some competition from for-sale options.
The asset s older vintage creates a clear path for value-add through targeted renovations and operational upgrades, which can sharpen competitiveness versus slightly newer local stock. Within a 3-mile radius, recent and forecast growth in population, households, and income expands the renter pool and supports balanced pricing power without overreliance on aggressive rent assumptions.
- Neighborhood-level occupancy ranks top quartile locally, supporting leasing stability.
- High renter-occupied share at the neighborhood level signals depth of tenant demand.
- 1984 vintage provides value-add and capital improvement upside versus newer stock.
- 3-mile radius growth in population and households supports a larger renter pool.
- Risk: limited nearby groceries/parks mean on-site amenities and management execution matter.