| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 515 Roy St, Kerrville, TX, 78028, US |
| Region / Metro | Kerrville |
| Year of Construction | 1986 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
515 Roy St, Kerrville TX Multifamily Value-Add Opportunity
Positioned in an Inner Suburb pocket with a meaningful renter-occupied share at the neighborhood level, this 56-unit asset offers stable working-class demand and potential to enhance performance as occupancy normalizes, according to CRE market data from WDSuite.
The property sits in an A-rated Inner Suburb neighborhood that is competitive among Kerrville neighborhoods (ranked 2 of 24). Daily-needs access is a local strength: grocery and pharmacy density rank near the top of the metro (both 1–2 out of 24), and cafes and restaurants show above-median depth. Park access is limited (ranked 24 of 24), so outdoor amenities may rely more on private on-site enhancements rather than nearby green space.
Neighborhood occupancy trends are around the metro median (12 of 24) with some softening over the past five years. That suggests underwriting should prioritize leasing execution and retention programs, while the area s renter concentration—about 40% of housing units renter-occupied at the neighborhood level—supports a consistent tenant base for multifamily demand.
At the property level, 1986 construction is slightly older than the neighborhood s average vintage (1990). For investors, that points to practical capital planning—targeted renovations and building systems updates can improve competitive positioning against newer stock while pursuing value-add upside.
Within a 3-mile radius, demographics indicate a broad renter pool spanning young adults to downsizing households. While recent history shows relatively flat population and household counts, projections point to population growth and a notable increase in households, which can expand the tenant base and support occupancy stability over the medium term. Median home values in the neighborhood sit in a higher-cost ownership context relative to incomes (value-to-income ratio in a high national percentile), which tends to reinforce reliance on rental options and can aid lease retention. Neighborhood rents are moderate relative to local incomes (rent-to-income around the high teens), offering room for disciplined revenue management rather than aggressive pricing assumptions.
School ratings average below the national midpoint for this neighborhood, which may influence family-oriented demand considerations; however, amenity access and everyday services compare favorably both locally and against many neighborhoods nationwide.
Safety indicators for the neighborhood are mixed to modest: relative to Kerrville, the crime rank sits in the lower half (15 of 24), and national percentiles place overall and violent offense measures below the national midpoint. Recent trend data shows a slight year-over-year decline in estimated violent offenses, while property offenses ticked up, suggesting investors should incorporate prudent security measures and focus on lighting, access control, and visibility to support tenant confidence.
This 56-unit, 1986-vintage asset offers a practical value-add play in an A-rated Inner Suburb location. The neighborhood combines strong daily-needs access and an established renter base with occupancy near the metro median, creating a path for operational improvement through targeted renovations and disciplined leasing. Based on CRE market data from WDSuite, the surrounding area s ownership costs skew higher relative to incomes, which can sustain multifamily demand and support retention as household growth resumes.
Demographic statistics aggregated within a 3-mile radius indicate steady renter pool expansion ahead, with projections for population and household increases that can underpin occupancy stability. Given modest recent softening in neighborhood occupancy and below-midpoint school ratings, conservative underwriting on lease-up velocity and ongoing resident engagement will be important alongside capital upgrades.
- 1986 vintage supports value-add renovations and building systems modernization
- A-rated Inner Suburb with strong grocery/pharmacy access and everyday amenities
- Renter-occupied share at the neighborhood level provides depth for multifamily demand
- Higher-cost ownership context reinforces reliance on rental housing and potential retention
- Risks: occupancy around metro median with recent softening; below-midpoint school ratings; limited park access