| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Best |
| Demographics | 45th | Good |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1803 Gray St, Palacios, TX, 77465, US |
| Region / Metro | Palacios |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1803 Gray St Palacios Multifamily Investment Opportunity
Built in 2000, this 28-unit asset offers relatively newer stock in a rural Gulf Coast market where neighborhood occupancy runs softer but stable, according to WDSuite’s CRE market data. The location serves a primarily ownership-leaning area, suggesting demand will hinge on workforce renters and careful lease management rather than transient turnover.
The property sits in a rural neighborhood within the Bay City, TX metro, where amenity density is limited compared with national averages. Within the metro, the area is competitive among Bay City neighborhoods (ranked 6 of 18 on overall amenities), but nationally it falls in a lower percentile, indicating residents rely on a small set of local conveniences and regional drives for broader retail and services. Pharmacy access scores relatively better than other categories, while cafes, parks, and restaurants are sparse.
Construction in the neighborhood skews older on average (early 1980s), so a 2000-vintage asset can compete well against aging stock while still requiring prudent system updates and common-area refresh over the hold. Neighborhood occupancy tends to trail national norms and is around the metro median, pointing to a market that rewards consistent leasing efforts and product differentiation rather than pure price leadership.
Tenure data indicates a lower renter concentration at the neighborhood level, with more ownership-leaning housing. For investors, this implies a narrower but steadier renter base driven by local employment and lifestyle stickiness; maintaining curb appeal and practical finishes can support retention where the renter pool is smaller.
Demographic statistics aggregated within a 3-mile radius show recent softness in population and households over the past five years, paired with projections of growth and higher incomes ahead. That outlook suggests potential renter pool expansion over the medium term, though near‑term demand will likely be driven by existing households and in-migration tied to local employers. School ratings in the area track below national averages but are top quartile among the 18 metro neighborhoods, underscoring a relative local strength even if broader perceptions remain mixed.
Home values in the neighborhood sit in the mid range for the U.S. and align with a value-to-income profile that signals a more accessible ownership market than high-cost metros. For multifamily operators, this means pricing power depends on delivering convenience, reliability, and well-managed operations rather than expecting structural spillover from priced-out buyers; lease retention and service quality are central to performance.
Neighborhood-level crime statistics are not available in WDSuite for this location, so comparative safety insights to the Bay City metro or national benchmarks cannot be stated precisely. Investors typically evaluate multi-year city and county trend reports and property-level incident histories to contextualize risk, alongside visibility, lighting, and access controls that support resident comfort and retention.
Given the rural setting, it is prudent to pair publicly available police or sheriff reports with on-site observations and resident feedback to understand patterns over time rather than relying on a single snapshot.
WDSuite does not provide qualified nearby anchor employers with distance data for this address. Investors commonly assess the Bay City–Matagorda County employment base for commute convenience and workforce housing dynamics when underwriting demand and renewal probabilities.
This 28‑unit property, built in 2000, offers relatively newer product versus neighborhood stock that trends to the early 1980s. In a rural submarket with modest amenity density and an ownership-leaning housing mix, performance should center on operational discipline: consistent leasing, resident service, and targeted refreshes to stay competitive against older alternatives. According to CRE market data from WDSuite, neighborhood occupancy trends trail broader national levels and sit near the metro median, reinforcing the need for hands-on asset management to sustain stabilization.
Demographics aggregated within a 3‑mile radius indicate recent softness but forward projections for population and income growth, which can expand the renter pool over time. Home values and value-to-income ratios suggest ownership remains relatively accessible compared with high-cost metros, so rent strategy should emphasize reliability, livability, and renewal value rather than aggressive premium positioning.
- 2000 vintage offers competitive positioning versus older neighborhood stock, with manageable modernization needs
- Operational upside in a market where occupancy sits near the metro median and rewards consistent leasing and retention
- Projected population and income growth within 3 miles supports a larger tenant base over the medium term
- Ownership-leaning area implies focused value proposition for renters seeking convenience and dependable management
- Risks: softer neighborhood occupancy versus national norms, limited amenities, and competition from accessible ownership options