| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 52nd | Good |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1410 James Ave, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 2005 |
| Units | 57 |
| Transaction Date | 2009-03-03 |
| Transaction Price | $2,500,000 |
| Buyer | CAMPUS INVESTORS BAYLOR LLC |
| Seller | 1410 JAMES LTD |
1410 James Ave Waco Multifamily Investment
2005 vintage with strong renter concentration in the surrounding neighborhood supports a deep tenant pool, according to WDSuite’s CRE market data. The area’s service retail and dining density provide day-to-day convenience that can aid leasing and retention.
Located in Waco’s inner-suburb fabric, the property sits in a neighborhood rated A- and ranks 20th among 92 metro neighborhoods, placing it above the metro median for overall fundamentals. The 2005 construction year is newer than the local average (1986), suggesting a more competitive physical plant versus older stock while still warranting periodic system updates and common-area refreshes to maintain positioning.
Local dynamics indicate solid renter demand: the neighborhood’s share of housing units that are renter-occupied is among the highest in the Waco metro (ranked 1 of 92; top percentile nationally). For multifamily investors, that depth of renter households translates to a broader tenant base and potential leasing velocity. Neighborhood occupancy is below the metro median (ranked 65 of 92), so active management and targeted renovations may be important to sustain occupancy stability.
Amenities skew toward daily-needs convenience. The neighborhood ranks at the top of the metro for grocery access (1 of 92; high national percentile) and is competitive for restaurants (4 of 92), supporting daily traffic and resident convenience. However, limited parks, pharmacies, and cafes (ranks near the bottom of the metro) mean on-site amenities and livability upgrades can further differentiate the asset.
Within a 3-mile radius, population and household counts have grown in recent years, with forecasts indicating further increases by 2028. Household growth outpacing population growth points to a larger renter pool over time, which can support occupancy and absorption for a 57-unit community. Median household incomes in the immediate neighborhood are lower than many metro peers and rent-to-income ratios skew high, which signals affordability pressure; investors should plan for disciplined rent setting and renewal strategies to support retention.
Safety indicators are mixed but improving. The neighborhood’s overall crime position sits above the metro median (rank 39 of 92), and according to CRE market data from WDSuite, it aligns with roughly mid-pack performance nationally (around the 55th percentile). Property offense levels benchmark weaker nationally (around the 30th percentile), yet recent trend data shows notable improvement with a double-digit year-over-year reduction.
Violent offense estimates have improved meaningfully on a year-over-year basis, ranking in a high national improvement percentile. For investors, the direction of change is constructive, but underwriting should still incorporate standard security considerations and compare claims data and recent comps in the Waco, TX metro.
This 57-unit, 2005-built asset benefits from a renter-heavy neighborhood and day-to-day retail density that can support leasing and renewal performance. Compared with older local stock, the vintage positions the property competitively, though investors should budget for ongoing modernization to sustain rent premiums. Neighborhood occupancy trends sit below the metro median, so focused operations and unit upgrades can be key levers to drive stabilization.
Within a 3-mile radius, population and households have expanded and are projected to grow further, pointing to a larger tenant base and steady multifamily demand. At the same time, neighborhood-level incomes and rent-to-income ratios indicate affordability pressure, making measured rent growth and careful lease management essential. According to CRE market data from WDSuite, local amenities skew toward groceries and restaurants, reinforcing daily convenience even as parks and pharmacies remain limited nearby.
- Renter-occupied share among the highest in the metro, supporting depth of tenant demand.
- 2005 construction offers competitive positioning versus older neighborhood stock with value-add potential via targeted updates.
- Daily-needs convenience (strong grocery and restaurant presence) can aid leasing and retention.
- Demand outlook supported by 3-mile population and household growth projections, reinforcing occupancy stability over time.
- Risk: Below-median neighborhood occupancy and affordability pressure call for disciplined rent setting and proactive asset management.