| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 48th | Good |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4900 Farm To Market Rd 2668, Bay City, TX, 77414, US |
| Region / Metro | Bay City |
| Year of Construction | 1985 |
| Units | 112 |
| Transaction Date | 2013-12-17 |
| Transaction Price | $8,500,000 |
| Buyer | MOSAIC NICHOLS LP |
| Seller | BLUE VALLEY APARTMENTS INC |
4900 FM 2668, Bay City, TX — 112-Unit Value-Add Opportunity
Stabilizing renter demand in Bay City’s inner-suburb setting supports durable cash flow potential, according to WDSuite’s CRE market data, with 1980s-vintage assets often benefiting from targeted renovations to compete with newer stock.
Bay City’s Inner Suburb neighborhood shows steady renter appeal and improving occupancy trends. The neighborhood’s occupancy rate is 89.7%, up over the last five years, indicating firmer leasing conditions relative to its recent history based on CRE market data from WDSuite. Importantly, 69.3% of housing units are renter-occupied, pointing to a deep tenant base for multifamily operators and potential support for retention.
Everyday convenience is workable but modest. Grocery access is competitive among Bay City neighborhoods (2 of 18 by rank), while on-premise amenities like cafes, restaurants, parks, childcare, and pharmacies are limited in the immediate area. Operators may see stronger on-site amenity utilization as a result.
The property’s 1985 vintage is slightly older than the neighborhood’s average construction year (1988). That age gap can create practical value-add avenues — interior updates, building systems, and common-area enhancements — to improve positioning versus newer comparables while planning for ongoing capital needs.
Within a 3-mile radius, households have increased in recent years even as population was roughly flat to slightly lower, implying smaller household sizes and a broader count of households to market to. Looking ahead to 2028, forecasts call for population and household growth, which would expand the renter pool and support occupancy stability. Median contract rents in this 3-mile area have risen in the past five years, reinforcing demand, while neighborhood home values are relatively low versus national norms — a dynamic that can introduce some competition from ownership options but also helps sustain workforce rental demand.
Comparable, metro-level safety context is important for underwriting, but current neighborhood crime estimates are not available in this dataset. Investors should evaluate city and county trend reports, property-level incident histories, and on-site security practices to benchmark risk and align insurance and operating assumptions with observed conditions.
This 112-unit, 1985-vintage asset offers a pragmatic value-add path in a neighborhood with improving occupancy and a high renter concentration. According to CRE market data from WDSuite, neighborhood occupancy has trended higher in recent years, and a majority of local housing units are renter-occupied — a mix that supports depth of demand and lease-up resilience for well-managed properties.
Households within a 3-mile radius have grown even as average household size has edged lower, broadening the prospective tenant base. Forecasts to 2028 indicate additional population and household expansion, which can support stable absorption and renewal rates. With relatively low neighborhood home values by national comparison, operators should monitor potential competition from ownership while leveraging on-site amenities and renovations to sustain pricing power and retention.
- Improving neighborhood occupancy and high renter-occupied share support demand depth
- 1985 vintage presents clear value-add opportunities in interiors and building systems
- 3-mile household growth and forecast expansion point to a larger renter pool
- Risk: limited nearby amenities and relatively accessible ownership can pressure leasing if execution lags