| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 23rd | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3335 Garden Dr, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 1983 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3335 Garden Dr Waco Multifamily Investment Opportunity
Neighborhood occupancy trends in the low-90s and a sizable renter-occupied housing base point to durable leasing fundamentals near the property, according to WDSuite’s CRE market data. The area’s tenant pool skews younger and continues to expand, supporting steady demand for smaller-unit product.
This Inner Suburb location rates B+ overall and is competitive among Waco’s 92 neighborhoods, with neighborhood occupancy around the low-90s and an above-median position for the metro. Grocery and cafe density test above national averages, while park access is similarly favorable; pharmacy access is limited, which may modestly affect convenience for some residents.
Within a 3-mile radius, the population has grown over the past five years with a large 18–34 cohort and a decline in average household size, which together suggest a deeper pool for studios and one-bedrooms and support occupancy stability. Households increased at a double-digit pace and are projected to continue expanding by 2028, indicating a larger tenant base and consistent leasing velocity.
Renter-occupied housing accounts for a majority of units in the immediate area, placing the neighborhood in the top quartile among the 92 Waco neighborhoods for renter concentration. This depth of renter households supports ongoing demand and renewals, though pricing should still be calibrated to local incomes to sustain retention.
Home values in the neighborhood rank low nationally, indicating a more accessible ownership market relative to many U.S. areas. For investors, that can introduce some competitive pressure from entry-level ownership, but the neighborhood’s rent-to-income profile sits in a manageable range for many tenants, helping maintain lease stability when paired with right-sized unit finishes and amenities. Average school ratings trail national norms, which may temper appeal for some family renters but is less impactful for properties oriented to smaller households.
Safety indicators for the neighborhood are competitive among Waco’s 92 neighborhoods and trend above national averages, based on WDSuite’s data. Recent year-over-year declines in both property and violent offense rates point to improving conditions, positioning the area in a stronger national percentile for improvement while maintaining a mid-to-higher tier standing versus U.S. neighborhoods overall.
As with any submarket-level view, these are neighborhood-wide measures rather than block-level readings, and investors typically underwrite to ongoing monitoring and standard property-level safety practices.
The investment case centers on steady renter demand supported by a young-skewing demographic mix, a majority renter-occupied housing base, and neighborhood occupancy in the low-90s. According to CRE market data from WDSuite, the area ranks competitively within the Waco metro on occupancy and has benefited from rising households within a 3-mile radius, which expands the tenant pool for smaller units and supports renewal probabilities.
Operationally, the neighborhood’s rent-to-income profile suggests manageable affordability pressure that can sustain retention with disciplined rent setting. Ownership remains comparatively accessible in this submarket, which introduces some competition with entry-level homebuying; however, proximity-based convenience, right-sized finishes, and consistent management can preserve leasing stability amid that backdrop.
- Competitive neighborhood occupancy and growing 3-mile tenant base support stable leasing
- Majority renter-occupied housing indicates depth of demand for multifamily units
- Manageable rent-to-income dynamics aid retention with disciplined rent strategies
- Amenity access (groceries, cafes, parks) enhances livability for smaller-household renters
- Risk: more accessible ownership options may cap pricing power without product differentiation