| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 15th | Poor |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1516 Gurley Ln, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 2010 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1516 Gurley Ln, Waco TX Multifamily Investment
Strong renter concentration and steady neighborhood rent trends point to durable tenant demand, according to WDSuite’s CRE market data, though occupancy at the neighborhood level has softened from prior years.
Located in Waco’s inner-suburb fabric, the property sits in a neighborhood rated C within the metro, with a rank of 68 out of 92 neighborhoods. At the neighborhood level, occupancy is lower than the metro median (rank 71 of 92 and in the lower half nationally), which warrants attention to leasing velocity and renewal strategy. By contrast, the neighborhood’s renter-occupied share is high at 74.8% (rank 4 of 92; top quartile nationally), signaling depth in the tenant base for multifamily operators.
The local retail and services footprint is limited within the immediate neighborhood—grocery, pharmacy, parks, and childcare densities rank at or near the bottom of the metro—while restaurant density is around the metro middle. Investors should expect residents to draw on broader Waco corridors for daily needs, which can influence parking utilization and drive-time considerations more than walkability.
Property vintage compares favorably to nearby stock: built in 2010 versus a neighborhood average construction year of 1998. Newer product typically competes well against older stock on finishes and systems; investors can still plan for targeted refreshes to maintain positioning as systems age.
Within a 3-mile radius, demographics indicate a sizable and growing renter pool: population increased over the past five years and is projected to continue rising alongside faster household growth. The 18–34 cohort forms a large share of nearby residents, supporting leasing for workforce and early-career renters. Median contract rents in the 3-mile area have risen over recent years, with additional gains projected, reinforcing pricing power if units are well-maintained and marketed.
Income levels in the immediate neighborhood are lower than the metro median, and the rent-to-income ratio is elevated by national comparison. For operators, this implies closer attention to affordability pressure, renewal step-ups, and lease management to sustain retention while capturing market rent where supported.
Neighborhood safety indicators are around the metro median (crime rank 37 of 92), and the area sits modestly above the national median for safety (56th percentile). Recent trends are constructive: estimated violent and property offense rates have declined year over year, with decreases that place the neighborhood in stronger national percentiles for improvement. These directional gains are supportive for renter sentiment, though investors should continue to monitor submarket trends rather than block-level variation.
The 81-unit asset at 1516 Gurley Ln benefits from a high renter concentration in the surrounding neighborhood and a growing 3-mile household base, both supportive of leasing depth and occupancy durability. The 2010 vintage positions the property competitively versus older neighborhood stock, while leaving room for select value-add or modernization to defend rents. According to CRE market data from WDSuite, neighborhood occupancy has softened versus prior years, so execution should prioritize renewal management and targeted concessions to protect cash flow while demand fundamentals remain intact.
Affordability warrants active oversight. Neighborhood-level incomes sit below metro norms and the rent-to-income ratio is elevated relative to national benchmarks. Still, multi-year rent growth locally and projected gains within the 3-mile radius suggest that well-positioned units can maintain pricing power. Limited immediate-walk amenity density places a premium on on-site convenience and operational responsiveness to sustain retention.
- High renter-occupied share signals depth of tenant demand and supports occupancy stability
- 2010 construction competes well versus older neighborhood stock with potential for targeted value-add
- 3-mile population and household growth expand the local renter pool, aiding leasing and renewals
- Neighborhood rent trajectory and projections support measured pricing power for well-maintained units
- Risk: softer neighborhood occupancy and elevated rent-to-income ratios require disciplined lease and renewal management