| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 N Martin Luther King Jr Blvd, Waco, TX, 76704, US |
| Region / Metro | Waco |
| Year of Construction | 2007 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1001 N Martin Luther King Jr Blvd, Waco — 100-Unit Multifamily
2007 vintage and a renter-heavy neighborhood signal durable tenant demand near the Waco core, according to WDSuite’s CRE market data, with positioning that competes well against older local stock.
This Inner Suburb location benefits from everyday conveniences: grocery access and restaurant density are comparatively strong within the neighborhood, while parks, pharmacies, and cafes are thinner. Overall amenity access is competitive among 92 Waco neighborhoods (ranked 16th), supporting day-to-day livability that helps with leasing and retention.
The neighborhood skews renter-occupied, with a high share of housing units renter-occupied relative to the metro (top decile by rank). For investors, that depth of renter concentration typically supports a larger tenant base and steadier leasing pipelines for multifamily assets.
The average construction year in the neighborhood is 1979, while the property was built in 2007. Being newer than much of the local stock can support competitive positioning on finishes and systems; investors should still underwrite routine modernization as the asset moves through its second decade.
Within a 3-mile radius, demographics show recent population growth and an 11.5% increase in households over the last five years, with forecasts pointing to continued expansion by 2028. This trajectory suggests a larger tenant base over time, which can support occupancy stability and absorption for well-managed properties. Median incomes have been rising, but remain modest locally, so asset strategies that balance rent growth with affordability can aid retention.
Home values in the neighborhood are low in absolute terms but elevated relative to incomes (high national percentile on value-to-income). That high-cost ownership context, combined with the renter concentration, tends to reinforce reliance on multifamily housing and can support pricing power at attainable rent bands.
Safety indicators are mixed but improving. The neighborhood ranks 33rd among 92 Waco neighborhoods, making it competitive within the metro, and sits above the national median (56th percentile) for safety compared with neighborhoods nationwide. According to WDSuite’s CRE market data, both property and violent offense rates declined over the past year, an encouraging directional trend for long-term operations.
The 100-unit, 2007-built asset benefits from a renter-heavy neighborhood, competitive amenity access, and proximity to the Waco core. According to CRE market data from WDSuite, the area’s occupancy and livability fundamentals are near metro norms, while the local housing stock skews older—positioning this property as relatively competitive versus nearby 1970s-era inventory. Within a 3-mile radius, household growth and rising incomes point to a larger tenant base, supporting leasing stability at attainable rent levels.
Home values that are elevated relative to incomes suggest a high-cost ownership context locally, which tends to sustain demand for rentals and support retention. Investors should underwrite routine modernization as the asset ages and calibrate rent strategy to local income levels to manage affordability pressure and maintain occupancy.
- Renter-heavy neighborhood supports a deep tenant base and leasing stability
- 2007 construction competes well against older local stock, with standard modernization planning
- Growing 3-mile household counts expand the renter pool and support occupancy
- Ownership remains high-cost relative to incomes, reinforcing reliance on multifamily housing
- Risk: modest local incomes and limited park/cafe options require careful rent and amenity strategy