| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 42nd | Fair |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7080 Lamar Rd, Reno, TX, 75462, US |
| Region / Metro | Reno |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7080 Lamar Rd, Reno TX Multifamily Opportunity
Stable suburban renter demand with above-average neighborhood occupancy and value-add potential, according to WDSuite’s CRE market data.
The property sits in a suburban pocket of the Paris, TX metro that scores competitive among Paris neighborhoods (ranked 4 of 26, top quartile nationally), with occupancy in the surrounding neighborhood trending solid. According to CRE market data from WDSuite, neighborhood occupancy has held in the mid‑90s, which supports leasing stability for well‑positioned units.
Tenant depth is supported by a meaningful renter presence: about 38% of neighborhood housing units are renter‑occupied. Within a 3‑mile radius, population and household counts have grown over the past five years and are projected to continue rising, indicating a larger tenant base that can support occupancy and renewal rates.
Vintage matters here. Built in 1988, the asset is older than the neighborhood’s average construction year. Investors should underwrite for capital planning and potential value‑add renovations to modernize interiors and systems, which can enhance competitiveness against newer stock while targeting durable cash flow.
Retail and service density nearby is limited, with sparse café, park, and pharmacy options and modest grocery presence. This car‑oriented setting can appeal to residents prioritizing space and price, though it may require thoughtful amenity programming on site. School ratings in the neighborhood trend below national averages; underwriting should assume that leasing momentum is driven more by value and convenience than by top‑tier school draw.
Home values in the area are comparatively modest for Texas, which indicates a more accessible ownership market than high‑cost metros. For multifamily, this can temper pricing power at the top end but still support retention when rents are managed to local incomes. Neighborhood rents have risen in recent years, and forward indicators point to continued rental demand as households expand within the 3‑mile radius.
Safety indicators show a constructive picture in a national context. Based on WDSuite’s data, the neighborhood performs in the upper tiers nationally for lower reported crime (around the top quartile), which can support resident retention and leasing. Recent year‑over‑year trends also show notable declines in both property and violent offense rates, reinforcing an improving trajectory.
As with most sub‑metro locations, conditions can vary block to block and over time. Investors should confirm current patterns with on‑the‑ground diligence and recent comparables when underwriting.
This 24‑unit, 1988‑vintage asset offers a straightforward value‑add path in a suburban Paris, TX neighborhood with solid occupancy and a meaningful renter base. Population and household growth within a 3‑mile radius point to a larger tenant pool over the medium term, supporting lease‑up and renewals. Neighborhood rents and occupancy trends compare favorably to broader national patterns, according to CRE market data from WDSuite, while the older vintage suggests clear levers for interior upgrades, common‑area refresh, and systems planning.
Investors should balance these strengths against a car‑oriented amenity environment and a comparatively accessible ownership market, which can moderate top‑end rent growth. Prudent underwriting that emphasizes functional renovations, competitive pricing to local incomes, and operational efficiency can position the property to capture steady demand and maintain occupancy.
- Neighborhood occupancy in the mid‑90s supports leasing stability versus national norms.
- 1988 construction offers value‑add and capital planning opportunities to enhance competitiveness.
- 3‑mile population and household growth expand the tenant base, aiding retention and renewals.
- Pricing strategy should account for accessible local homeownership and limited nearby amenities.