| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 15th | Poor |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1911 S 8th St, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 1988 |
| Units | 35 |
| Transaction Date | 2021-12-13 |
| Transaction Price | $5,191,200 |
| Buyer | 19 ELEVEN WACO LLC |
| Seller | LAMENDOLA-PARKS LLP |
1911 S 8th St Waco Multifamily Investment
High renter concentration supports a deep tenant base, while neighborhood occupancy trails the metro; according to CRE market data from WDSuite, investors should emphasize renewals and measured rent strategies to sustain performance.
The property is in an Inner Suburb of Waco with a C neighborhood rating, where renter-occupied housing is a defining characteristic. The neighborhood’s renter concentration is among the highest in Waco (out of 92 neighborhoods), indicating a broad tenant pool and consistent leasing opportunities for multifamily assets. At the same time, neighborhood occupancy is below the metro median, so underwriting should account for moderate lease-up velocity and prioritize retention.
Housing fundamentals compare favorably within the metro. The neighborhood’s housing score places it in the top quartile among 92 Waco neighborhoods, and typical NOI per unit trends land around the national midpoint, suggesting workable margins with disciplined operations. Neighborhood median contract rents are roughly middle-of-the-road nationally and have increased over the last five years, supporting pragmatic pricing rather than premium positioning.
Livability indicators are mixed. Restaurant density is around the national middle, but cafes, groceries, parks, and pharmacies are sparse locally, meaning residents often draw on a wider trade area for daily needs. School ratings are not available in this dataset and should be verified during diligence. These conditions generally fit workforce housing where value and convenience outweigh lifestyle amenities.
Demographics within a 3-mile radius show population growth over the past five years and a sizable 18–34 cohort, which can expand the renter pool and support roommate-style leasing. WDSuite’s 3-mile outlook points to continued population and household growth over the next five years, reinforcing demand, though rising incomes and projected rent gains call for active affordability and retention management.
Vintage considerations: built in 1988 versus a neighborhood average vintage of 1998, the asset is older than much of the local stock. This supports a value-add thesis through interior and systems upgrades but also implies near- to mid-term capital planning to maintain competitive positioning.
Safety metrics are mixed but trending positively. The area ranks 37 out of 92 Waco neighborhoods on overall crime, which is competitive among Waco neighborhoods. Nationally, it tracks slightly above the midpoint for safety based on WDSuite’s CRE market data.
Recent neighborhood trends indicate improvement: estimated violent offenses declined by roughly 34% year over year and estimated property offenses fell by about 28%. These shifts support a steadier operating backdrop, though property-level security practices and review of the latest local reports remain prudent.
This 35-unit, 1988-vintage asset benefits from a renter-heavy Waco neighborhood that provides depth of demand, while occupancy sits below the metro median. According to CRE market data from WDSuite, local housing fundamentals rank well within the metro and 3-mile demographics point to continued population and household growth, supporting a durable tenant pipeline. The older vintage relative to nearby stock presents clear value-add potential alongside the need for thoughtful capital planning.
Operationally, a retention-first playbook is sensible. Neighborhood rents sit near the national middle and have risen in recent years, while a rent-to-income ratio near 30% indicates potential affordability pressure that favors measured increases, resident engagement, and cost control to sustain occupancy.
- Renter-heavy neighborhood supports a deep tenant base and steady leasing.
- Top-quartile housing fundamentals within Waco provide a constructive operating backdrop.
- 3-mile population and household growth expand future renter demand and support occupancy stability.
- 1988 vintage creates value-add potential but requires near- to mid-term capex planning.
- Risks: occupancy below metro median, limited nearby amenities, and affordability pressure argue for measured rent strategies.