2300 Hamman Rd, Bay City, TX Multifamily Investment

Located in Bay City’s Inner Suburb, the surrounding neighborhood carries a B- rating and supports workforce-oriented multifamily. Grocery access ranks 2nd among 18 Bay City neighborhoods — a top quartile position locally — and sits around the mid-60s percentile nationally, while cafes, restaurants, parks, and pharmacies are sparse, indicating residents rely on a limited amenity base nearby.

Renter-occupied share in the neighborhood is high (about seven in ten units), ranking 1st among 18 metro neighborhoods and in the upper 90s nationally. For investors, this depth of renter households supports a broader tenant base and can help sustain occupancy, even when pricing power is modest.

Neighborhood median contract rents track below national midpoints and have increased over the last five years, while the rent-to-income ratio sits near the low-20s. That combination points to comparatively accessible monthly rents, which can aid lease-up and retention but may cap upside without property-specific upgrades or repositioning.

Demographic trends aggregated within a 3-mile radius show households and families have grown in recent years despite flat population, implying smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections indicate additional growth in households through the next five years, a tailwind for occupancy stability in well-located multifamily communities, based on CRE market data from WDSuite.

The average construction year for nearby inventory is 1988, while this asset was built in 1974. The older vintage suggests investors should plan for targeted capital expenditures and consider value-add improvements to enhance competitiveness versus newer stock.

Home values in the neighborhood are lower than national norms. In practice, more accessible ownership options can create competition for some renter cohorts, so underwriting should account for retention strategies and amenity/program-driven differentiation.