| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 24th | Poor |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Richter Ave, Waco, TX, 76711, US |
| Region / Metro | Waco |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1901 Richter Ave, Waco TX Multifamily Investment
Renter-occupied housing is meaningful in this neighborhood, supporting a deeper tenant base and steadier leasing performance, according to WDSuite’s CRE market data. Neighborhood occupancy has trended upward in recent years, pointing to demand resilience for small multifamily assets.
This Inner Suburb neighborhood of Waco carries a B rating and shows balanced fundamentals for workforce-oriented rentals. Grocery access is a local strength (ranked 4th among 92 metro neighborhoods and high nationally), while restaurants are present at above-average levels; cafes and pharmacies are limited. Parks access is also comparatively strong (nationally above average), offering day-to-day livability that helps with resident retention.
Occupancy in the neighborhood is near the national midpoint and has improved over the last five years, suggesting stable renter demand. The share of housing units that are renter-occupied is relatively high for Waco (competitive among 92 metro neighborhoods), indicating depth in the tenant pool and potential for consistent leasing velocity.
Construction trends skew newer in the area overall, but this property’s 1986 vintage predates the local average (1993). For investors, that typically implies planning for selective capital expenditures and presents value-add or modernization opportunities to improve competitive positioning against newer stock.
Within a 3-mile radius, population and households have expanded in recent years and are projected to continue growing, pointing to a larger tenant base over time. Household sizes are gradually edging smaller, which can support demand for efficient units and sustain occupancy across economic cycles.
Home values in the neighborhood are lower than many U.S. areas, which can create some competition from entry-level ownership; however, rent-to-income levels indicate affordability pressure that warrants attentive lease management. Taken together, these factors support durable demand while calling for disciplined pricing and resident retention strategies.
Safety indicators are mixed but trending positively. The neighborhood’s crime rank sits at 21 out of 92 Waco neighborhoods, indicating higher reported incidents than several local areas; however, it scores above the national average for safety overall (around the 62nd percentile versus neighborhoods nationwide). Year over year, both property and violent offense estimates have declined sharply, placing the area among the stronger national improvers, which can support resident satisfaction and lease stability.
1901 Richter Ave is a 20-unit, 1986-vintage asset positioned in a Waco Inner Suburb with steady renter demand and improving neighborhood occupancy. The area offers practical amenities—particularly grocery access—and a renter-occupied housing base that is competitive within the metro, supporting depth of the tenant pool. According to CRE market data from WDSuite, local occupancy has trended upward while national-level safety comparisons and recent offense declines are constructive for retention.
The 1986 construction year suggests targeted capital planning and value-add potential to keep pace with newer nearby stock. Within a 3-mile radius, ongoing and forecast growth in population and households indicates a larger renter pool ahead, while lower local home values and rent-to-income pressures argue for disciplined leasing and renewal strategies to protect pricing power and stability.
- Neighborhood occupancy improving and near national midpoint supports leasing stability
- Renter-occupied share competitive within Waco, indicating depth of tenant demand
- 1986 vintage offers value-add and capex-driven upside versus newer area stock
- Amenity basics strong (notably grocery access), aiding everyday livability and retention
- Risk: lower home values and rent-to-income pressure require disciplined pricing and renewal management