| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 52nd | Good |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1720 S 8th St, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1720 S 8th St, Waco Multifamily Investment
Renter demand is reinforced by a high neighborhood share of renter-occupied units and walkable daily-needs access, according to WDSuites CRE market data. This supports consistent leasing potential even as occupancy fluctuates with the academic calendar.
The property is in an Inner Suburb location within Waco that scores A- at the neighborhood level, with daily-needs convenience as a differentiator. Grocery access ranks 1 out of 92 neighborhoods in the metro (top-tier locally and top quartile nationally), and restaurant density ranks 4 out of 92 (also top quartile nationally). These fundamentals help sustain foot traffic and support renter retention.
Neighborhood occupancy is 85.6%, which is below the metro median based on its rank of 65 out of 92. For investors, that suggests leasing may be more competitive at times, making product quality, management, and pricing discipline important for performance.
The housing stock in this area averages 1986 construction, while the subject asset was built in 1974. Older vintage implies attention to capital planning and creates potential value-add upside through interior updates and system modernization to differentiate from 1980s-era comparables.
Renter concentration is high, with 83.1% of housing units renter-occupied in the neighborhood. For multifamily owners, that depth of the tenant base typically supports steady inquiry volume and reduces exposure to single-employer cycles.
Within a 3-mile radius, population grew in recent years and households increased at a faster pace, with forecasts pointing to further population and household growth by 2028. This trajectory indicates a larger tenant base over time, which can support occupancy stability and absorption even as new supply ebbs and flows.
Neighborhood rents sit in the lower third locally (by rank) and mid-30s nationally, while WDSuite data show a median contract rent near this submarkets range and rising in the five-year forecast. For owners, that combination of attainable rents and expanding households can support consistent leasing, though affordability pressure for some cohorts warrants proactive lease management.
Safety indicators are mixed but improving. Overall crime performance is slightly better than the national midpoint (55th percentile nationally), and the neighborhood sits mid-pack in the metro (rank 39 of 92). Notably, violent offense rates have declined sharply year over year (improvement in the 86th percentile nationally), and property offenses have also trended down (70th percentile for improvement), according to CRE market data from WDSuite.
For investors, the directional improvement matters: it can support leasing confidence and resident retention, though underwriting should still reflect block-to-block variability and continued focus on lighting, access control, and community standards.
1720 S 8th St is a 24-unit, 1974-vintage asset positioned in a renter-heavy Waco neighborhood with exceptional access to groceries and dining. While neighborhood occupancy trends below the metro median, renter demand depth, population and household growth within 3 miles, and attainable rent positioning create a path to stable leasing with focused operations. According to CRE market data from WDSuite, the areas grocery and restaurant density ranks among the best locally and top quartile nationally, supporting day-to-day livability and retention.
The 1974 vintage suggests clear value-add levers: interior upgrades and targeted system modernization can improve competitive standing versus 1980s stock. Investors should account for affordability pressure and manage renewals carefully, but the combination of renter concentration and growing household counts points to a durable tenant base over the medium term.
- Renter-heavy neighborhood supports a deep tenant base and consistent inquiry volume.
- Top local access to groceries and dining helps retention and leasing velocity.
- 1974 vintage offers value-add potential through renovations and system upgrades.
- Demographic growth within 3 miles expands the renter pool and supports absorption.
- Risks: below-median neighborhood occupancy and affordability pressure call for disciplined pricing and active management.