| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 58th | Good |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 333 Water St, Kerrville, TX, 78028, US |
| Region / Metro | Kerrville |
| Year of Construction | 1975 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
333 Water St Kerrville Multifamily Investment
Neighborhood occupancy is strong and consistent for this Kerrville submarket, supporting income stability according to WDSuite s CRE market data. With a solid renter base and suburban fundamentals, the asset profile aligns with steady, service-driven renter demand.
This suburban Kerrville location shows resilient renter demand: neighborhood occupancy is in the top quartile among 24 metro neighborhoods, indicating stable lease-up and retention dynamics. The area also has a high share of renter-occupied housing units at the neighborhood level, suggesting depth in the tenant base and steady turnover potential for multifamily owners.
Vintage matters for positioning. Built in 1975, the property is older than the neighborhood s average construction year (1991), which points to potential value-add through targeted renovations and system upgrades. Strategic capital planning can help reposition against newer comparables while supporting rent competitiveness and operating efficiency.
Local amenities are mixed. Dining density compares favorably within the metro (restaurants per square mile rank is competitive), while daily-needs options like groceries and parks are thinner in the immediate vicinity. Investors should underwrite convenience as car-oriented, which is typical for suburban Hill Country locations.
Within a 3-mile radius, population and households have grown in recent years, with projections indicating further increases in households over the next five years. This points to a larger tenant base over time and supports occupancy stability. Median contract rents in the radius have trended upward, and, with a neighborhood rent-to-income ratio near 0.17, operators can emphasize affordability management for retention while monitoring pricing power as incomes rise.
Home values in the neighborhood sit below many large-metro benchmarks. In practical terms, the ownership market is relatively accessible, which can create some competition with entry-level ownership. For multifamily investors, this typically favors a focus on product differentiation, convenience, and professional management to sustain leasing and renewal performance.
Neighborhood safety levels compare favorably in broader context. By rank, the area is above the metro median among 24 Kerrville neighborhoods, and national percentiles indicate it is safer than average nationwide. Recent trends are mixed: violent offense rates have improved year over year, while property-related incidents show some volatility. For investors, this pattern supports generally stable livability with an eye on asset security measures and resident communication.
Nearby employment centers in Kerrville support commuter access for workforce tenants; however, WDSuite did not surface qualified employer records with reliable distance measurements for this address, so detailed bullets are omitted.
333 Water St offers exposure to a renter-driven Kerrville neighborhood with top-quartile occupancy and a solid renter concentration, supporting predictable cash flow relative to the metro. According to commercial real estate analysis from WDSuite, the submarket s stability is complemented by household growth within a 3-mile radius, which should expand the local tenant pool and bolster leasing over the medium term.
The 1975 vintage is older than nearby stock, creating a clear path for value-add: unit renovations, common-area upgrades, and system improvements can enhance competitiveness against newer product. While ownership costs locally are comparatively accessible implying some competition from entry-level ownership the neighborhood s income levels and manageable rent-to-income profile suggest operators can prioritize retention while calibrating premiums to amenity upgrades and service quality.
- Top-quartile neighborhood occupancy supports leasing stability and income durability.
- 3-mile household growth outlook expands the tenant base and underpins demand.
- 1975 vintage offers value-add potential through targeted interior and system upgrades.
- Risk: accessible ownership options and variable property offense trends warrant conservative rent growth and security planning.