| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 33rd | Fair |
| Amenities | 36th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4000 N 19th St, Waco, TX, 76708, US |
| Region / Metro | Waco |
| Year of Construction | 1977 |
| Units | 85 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4000 N 19th St Waco Multifamily Value-Add
Renter-occupied housing is prevalent in the neighborhood, supporting depth of tenant demand even as local occupancy trends sit below metro norms, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Waco, the neighborhood scores B+ overall and is competitive among Waco neighborhoods (33 out of 92). Day-to-day convenience is a relative strength locally, with grocery and pharmacy access ranking in the top quartile among 92 metro neighborhoods, while parks, cafes, and childcare are limited nearby. For investors, this mix points to practical livability that supports leasing, with fewer lifestyle amenities to market against newer, amenity-rich submarkets.
The property’s 1977 vintage is slightly older than the neighborhood’s average 1981 construction year, suggesting potential value-add through unit and systems modernization and a need to plan for capital expenditures to remain competitive against newer stock.
Neighborhood rents benchmark below national medians yet have trended upward over the past five years, while the rent-to-income ratio sits at a level consistent with retention-focused lease management rather than aggressive pricing. Elevated home values relative to local incomes (higher national value-to-income standing) indicate a high-cost ownership market in context, which tends to sustain reliance on multifamily rentals and supports occupancy stability.
Tenure patterns show a top-quartile renter concentration within the metro (56.7% of housing units renter-occupied), signaling a deep tenant base for conventional multifamily. At the same time, neighborhood occupancy rates trail both metro and national medians, so operators should prioritize asset-specific positioning and renewal strategies to capture demand.
Within a 3-mile radius, demographics show a recent period of modest population softening alongside a small increase in households, pointing to smaller household sizes and a steady renter pool. Forward-looking projections call for population growth and a notable increase in households over the next five years, which would expand the tenant base and support leasing velocity if realized. These dynamics, based on CRE market data from WDSuite, align with a strategy centered on durable, workforce-oriented demand drivers.
Safety indicators are mixed when viewed comparatively. The neighborhood’s crime rank sits closer to the less-safe end within Waco (13 out of 92, where lower ranks indicate higher crime), yet its national standing is better than average (around the upper third nationwide). Year over year, both violent and property offense estimates have improved materially, placing recent declines among the stronger improvements observed nationally. For investors, this suggests monitoring neighborhood trendlines while weighing improving momentum against below-metro relative positioning.
4000 N 19th St presents a practical workforce housing play in an Inner Suburb location with everyday retail access and a deep renter pool. Neighborhood occupancy runs below metro and national medians, but renter concentration is high and homeownership costs are comparatively elevated for local incomes, reinforcing steady multifamily demand. The 1977 vintage adds a clear value-add angle through unit and system updates, with potential to improve leasing performance relative to newer competitive sets.
According to commercial real estate analysis built on WDSuite’s CRE market data, nearby rents remain comparatively modest while 3-mile household counts are rising and are projected to expand further, supporting a larger tenant base and aiding renewal stability if the outlook holds. Execution should focus on targeted renovations, amenity-light operational efficiency, and disciplined rent growth calibrated to retention.
- High renter concentration supports demand depth and renewal stability
- Everyday retail access (groceries, pharmacies) aids leasing fundamentals
- 1977 vintage offers value-add through modernization and selective capex
- Ownership costs relatively high for local incomes, reinforcing reliance on rentals
- Risk: neighborhood occupancy lags metro; success depends on competitive positioning and retention