| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 51st | Best |
| Amenities | 14th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 5th St, Lexington, TX, 78947, US |
| Region / Metro | Lexington |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
121 5th St Lexington TX 24-Unit Multifamily
Positioned in a rural submarket with moderate rents and a measurable renter base, this asset offers steady, needs-based demand according to WDSuite’s CRE market data for the surrounding neighborhood.
The property sits in a Rural neighborhood of Lee County rated A-, placing it competitive among Lee County neighborhoods (ranked 4 out of 14). Limited retail and leisure options nearby reflect the rural context, so residents typically prioritize essential services and commute access over extensive amenity density.
Neighborhood occupancy is reported at 88.6%, and the renter-occupied share is about one-third, indicating a defined but thinner tenant pool relative to urban cores. Median contract rents track below the national midpoint, which can support retention and more predictable leasing, while the rent-to-income ratio around 0.15 signals manageable tenant affordability from an investor perspective.
Within a 3-mile radius, population has grown over the last five years, expanding the tenant base. Average household size is smaller, pointing to continued demand for 1–2 bedroom layouts; the property’s average unit size around 737 square feet fits well with that profile. Median home values in the area are lower than major metros, which can introduce some competition from ownership; however, in a high-cost ownership market regional context, multifamily often remains the more accessible option for mobility or workforce households.
Schools average roughly the mid-3s out of five and sit above the national median (around the 70th percentile), a relative strength for a rural location and a factor that can bolster family renter retention. Amenity access (cafes, parks, pharmacies) is limited compared with national norms, so leasing narratives should emphasize value, livability, and commute practicality rather than lifestyle clustering.
Neighborhood-level crime metrics are not available from WDSuite for this location. Investors typically benchmark safety using county-level trends, local law enforcement reports, and on-the-ground diligence to understand conditions over time and relative to nearby Lee County neighborhoods.
Given the rural context, it is prudent to assess visibility, lighting, access control, and resident policies as operational levers that support tenant comfort and retention, alongside reviewing any available public records for directional insight.
Proximity to regional employers supports workforce-driven renter demand and commute convenience, notably including Farmers Insurance - Doug Gaul, Arconic, Dell Technologies, Airgas, and Raymond James.
- Farmers Insurance - Doug Gaul — insurance services (33.3 miles)
- Arconic — metals & manufacturing offices (38.2 miles) — HQ
- Dell Technologies — technology headquarters & offices (40.2 miles) — HQ
- Airgas — industrial gases & distribution (40.7 miles)
- Raymond James — financial services offices (42.7 miles)
Built in 1993, the asset is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted system upgrades or unit refreshes. Neighborhood fundamentals from WDSuite point to stable occupancy in the high-80s and a renter-occupied share near one-third, aligning with a workforce profile where moderate rents and right-sized floor plans can support consistent demand.
According to commercial real estate analysis from WDSuite, below‑median neighborhood rents and a rent-to-income ratio around 0.15 support tenant retention, while recent population growth within a 3-mile radius expands the renter pool. Key considerations include rural amenity depth and some competition from ownership, both manageable with disciplined operations, value-oriented positioning, and capital plans that sharpen competitiveness.
- 1993 vintage offers competitive positioning versus older local stock with value-add potential
- Stable neighborhood occupancy and manageable rent-to-income support leasing durability
- 3-mile population growth and smaller household sizes bolster demand for 1–2 bedroom units
- Workforce location with proximity to regional employers underpins renter demand
- Risks: rural amenity scarcity and ownership competition require focused leasing and asset upgrades