| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 52nd | Good |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1715 S 8th St, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1715 S 8th St, Waco, TX Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and strong everyday retail access, according to WDSuite’s CRE market data. Positioning focuses on steady tenant capture and rent management rather than lease-up velocity.
This inner-suburb location is competitive among Waco neighborhoods (ranked 20 out of 92) with daily conveniences anchored by exceptional grocery density (ranked 1 out of 92; high nationally). Restaurants are also plentiful relative to the metro (ranked 4 out of 92), providing lifestyle access that supports leasing and renewals. Café, park, and pharmacy counts are thinner locally, so on-site amenities and resident services can help offset fewer nearby options.
Neighborhood occupancy is below the metro median (ranked 65 out of 92), so investors should underwrite to disciplined leasing assumptions. Counterbalancing that, renter-occupied housing is very high at the neighborhood level (ranked 1 out of 92; top national percentile), indicating a deep tenant base and durable multifamily demand.
Within a 3-mile radius, population and households have expanded over the past five years, with households up notably and additional growth forecast through 2028. This trend points to a larger tenant base and supports occupancy stability over time. Median contract rents in the 3-mile area have risen and are projected to continue increasing, reinforcing revenue potential with prudent lease management.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1986). That typically implies capital planning for building systems and an opportunity for targeted value-add to sharpen competitive positioning against newer stock.
Rent-to-income in the neighborhood skews high (low national percentile), which suggests affordability pressure. For investors, that means careful rent setting, renewal strategies, and expense-to-value prioritization are important to sustain retention and collections.
Based on WDSuite benchmarks, the neighborhood’s overall safety profile trends modestly better than the national middle (national crime percentile around the mid-50s) and sits near the metro median (crime rank 39 out of 92). That positioning supports typical workforce and student-oriented renter expectations without signaling a premium-safety submarket.
Recent trajectory is constructive: estimated violent offense rates declined meaningfully year over year (strong improvement compared with national norms; high national percentile), and property offenses also moved lower (above-average improvement nationally). For underwriting, this pattern suggests gradually improving neighborhood conditions, though property-level security and lighting remain standard best practices.
A range of Waco employment centers are within a practical commute of the property, supporting renter demand and lease retention. Proximity to major nodes helps stabilize tenancy even as leasing cycles shift.
1715 S 8th St offers exposure to a high renter-concentration neighborhood with strong everyday retail access and expanding 3-mile household counts, supporting a larger tenant base over time. While neighborhood occupancy ranks below the metro median, underwriting can lean on depth of renter demand and prudent concessions strategy. According to CRE market data from WDSuite, local rent levels have been rising and are projected to continue climbing, which supports revenue growth if paired with disciplined renewal management.
Built in 1972, the asset may benefit from targeted capital improvements to compete with newer stock in a market where renter-occupied share is exceptionally high. Value-add scope—focused on unit finishes, energy efficiency, and common-area upgrades—can enhance positioning against robust nearby retail amenities while balancing affordability pressures that call for careful rent setting and renewal planning.
- Deep tenant base: neighborhood renter-occupied share ranks 1 out of 92, indicating durable multifamily demand
- Everyday conveniences: top-tier grocery and strong restaurant density support leasing and renewals
- Value-add potential: 1972 vintage allows targeted upgrades to improve competitive positioning
- Demand growth: 3-mile population and household expansion points to a larger renter pool over the next five years
- Key risks: neighborhood occupancy below metro median and elevated rent-to-income call for disciplined lease and renewal strategies