| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 38th | Fair |
| Amenities | 5th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1401 Thompson Dr, Bay City, TX, 77414, US |
| Region / Metro | Bay City |
| Year of Construction | 2004 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1401 Thompson Dr, Bay City TX — 40-Unit Multifamily Investment
Neighborhood occupancy is currently at the top of the local range, pointing to resilient renter demand and lease-up stability, according to WDSuite’s CRE market data. With pragmatic rents in a high-cost-ownership context for the metro, the asset’s positioning supports steady absorption and retention.
This property sits in a C+ rated, rural neighborhood within the Bay City, TX metro. Among 18 metro neighborhoods, it ranks above the metro median on occupancy, with the area currently at the top of the local range and in the top tier nationally, signaling stable leasing dynamics relative to broader CRE trends. Local asking rents are moderate for the metro, helping sustain demand depth and lease retention.
Vintage context matters: the property was built in 2004, while the neighborhood’s average construction year trends older (1977). The comparatively newer vintage improves competitive positioning versus older stock, though investors should still plan for mid-life system updates and selective modernization to support rent durability.
Renter-occupied share in the immediate neighborhood is on the lower side (28.4% of housing units), indicating a more owner-leaning area and a multifamily demand profile centered on a focused tenant base. Broadening to a 3-mile radius, renter concentration is closer to parity with owners, which can help support a larger leasing funnel and occupancy stability for a 40-unit asset.
Amenities are limited in the immediate neighborhood, with sparse cafes, groceries, parks, and childcare options and a smaller restaurant presence. Average school ratings trail national benchmarks, which may matter for family-oriented renters. Even so, a low rent-to-income ratio in the neighborhood supports retention and mitigates affordability pressure, while median home values and a low value-to-income ratio suggest ownership is relatively accessible—potentially creating some competition for move-up renters that operators should manage through value, service, and unit quality.
Demographic statistics aggregated within a 3-mile radius show households have increased while population edged down, implying smaller household sizes and potential demand for rental housing. Forward-looking projections indicate growth in both households and population, expanding the tenant base and supporting occupancy stability over time, based on CRE market data from WDSuite.
Comparable neighborhood-level crime data was not available for this area in the current release. Investors typically benchmark safety conditions against city and county trends and monitor trajectory over time to understand resident sentiment and potential leasing impacts.
Given the absence of a metro rank or national percentile, a prudent approach is to review recent public safety reports, confirm property-level incident history, and compare to nearby Bay City neighborhoods to contextualize risk without relying on block-level assumptions.
Employer proximity details were not available in this dataset. Investors may wish to validate nearby industrial, energy, healthcare, and public-sector nodes that commonly anchor Bay City’s workforce housing demand and inform commute-driven leasing dynamics.
Built in 2004 with 40 units averaging roughly 800 square feet, the asset is comparatively newer than much of the local stock and positioned for stable operations in a neighborhood exhibiting top-of-metro occupancy. Moderate rents and a low neighborhood rent-to-income ratio support retention and pricing resilience, while a rural setting with limited amenities suggests an emphasis on value, property upkeep, and service to sustain demand. According to CRE market data from WDSuite, the broader 3-mile area shows increasing household counts alongside smaller household sizes, which can translate to a larger renter pool and occupancy stability.
Key considerations include an owner-leaning immediate neighborhood that can temper rent growth outperformance, potentially more competition from accessible ownership, and the need for mid-life capital planning typical of early-2000s assets. Offsetting strengths include strong neighborhood occupancy, pragmatic rent levels, and relative vintage advantage versus older properties nearby.
- Top-of-metro neighborhood occupancy supports leasing stability and retention
- 2004 vintage offers competitive positioning versus older local stock with targeted modernization upside
- Moderate rents and low rent-to-income dynamics bolster affordability and reduce turnover risk
- 3-mile area shows household growth and smaller household sizes, expanding the potential renter base
- Risks: owner-leaning immediate neighborhood and accessible ownership options may cap pricing power; limited nearby amenities require strong property-level value proposition