| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 58th | Good |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 Water St, Kerrville, TX, 78028, US |
| Region / Metro | Kerrville |
| Year of Construction | 1995 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
305 Water St, Kerrville TX Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is broad-based, according to WDSuite’s CRE market data, supporting stable operations for well-positioned small-unit assets in central Kerrville.
The property sits in an A- rated, Suburban neighborhood (ranked 5th among 24 Kerrville neighborhoods), indicating competitive fundamentals versus the metro. Neighborhood occupancy is high at 97.2% (top quartile nationally), and the share of renter-occupied housing is elevated at 52.2% (above metro median and high nationally), signaling depth in the tenant base and support for leasing stability.
Local convenience is anchored by dining—restaurants rank competitive among Kerrville neighborhoods (2nd of 24) and cafes are also relatively dense locally (3rd of 24). By contrast, in-neighborhood grocery, parks, and pharmacies rank last within the metro, so residents likely rely on short drives for daily needs. This mix suggests after-work and weekend activity nearby, with essential retail accessed elsewhere in the trade area.
Within a 3-mile radius, population and household counts have been rising, and projections point to continued growth through the next five years. This expansion implies a larger tenant base and supports occupancy stability for professionally managed multifamily. Median contract rents in the area remain moderate relative to incomes, which can aid retention and steady lease performance rather than pushing frequent turnover.
The asset’s 1995 construction is slightly newer than the neighborhood average year built, offering relative competitiveness versus older stock while still warranting targeted upgrades to key systems and finishes to sustain positioning and capture value-add upside.
Neighborhood safety indicators are generally comparable to broader U.S. patterns, with overall crime positioned modestly above national averages for safety (57th percentile). Within the Kerrville metro, this area sits near the middle of the pack (10th of 24 neighborhoods). For investors, this suggests typical risk management considerations rather than outlier exposures.
Recent trends are mixed: estimated violent offenses show improvement year over year (65th percentile nationally for safety and among the better trajectories locally), while property offenses have increased on a recent comparison. Owners should calibrate security practices and asset hardening accordingly, balancing day-to-day operations with resident experience and insurance considerations.
This 22‑unit property benefits from a renter-oriented neighborhood with high occupancy and a strong concentration of renter-occupied housing units. Dining-oriented amenities support livability near downtown Kerrville, while everyday retail is accessed by short drives across the trade area. The 1995 vintage is slightly newer than the area’s average, positioning the asset well versus older comparables and creating a clear path for targeted renovations. According to CRE market data from WDSuite, neighborhood occupancy trends and a growing 3‑mile population point to a stable tenant base that can support steady leasing.
Investor focus centers on demand durability and value-add execution: modest in-place affordability relative to incomes can underpin retention, and smaller-format units can serve workforce renters seeking efficient layouts. Key watch items include calibrating rents against local income growth, managing any property offense risk with appropriate controls, and monitoring the supply pipeline across Kerr County.
- High neighborhood occupancy and elevated renter-occupied share support demand depth
- 1995 vintage offers competitiveness versus older stock with targeted value-add potential
- 3-mile demographic growth expands the tenant pool and supports leasing stability
- Amenity concentration in dining; essential retail accessed via short drives
- Risk: mixed safety trends and property offense activity warrant ongoing security and insurance management