| 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 | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4000 N 19th St, Waco TX Multifamily Investment
Positioned in an inner-suburban pocket of Waco with a strong renter concentration, this asset benefits from stable tenant demand and accessible rent levels, according to WDSuite’s CRE market data.
This inner-suburban neighborhood carries a B+ rating and ranks 33 out of 92 within the Waco metro, making it competitive among Waco neighborhoods. Local retail conveniences are anchored by strong grocery and pharmacy density (both above national norms), while restaurants are reasonably accessible. In contrast, cafes, parks, and childcare options are limited, so the amenity mix skews toward daily-needs retail rather than lifestyle offerings.
For multifamily demand, the neighborhood shows a high share of renter-occupied housing units (renter concentration ranks 11 of 92; top decile nationally). That depth of renters supports leasing continuity, even as the neighborhood’s reported occupancy level sits below the metro median and has softened modestly over the past five years. Median contract rents in the area trend below national levels, a dynamic that can aid retention and reduce turnover costs.
Ownership costs relative to incomes are elevated for the area (value-to-income conditions are high compared with national patterns), which tends to sustain reliance on rental housing and can provide pricing power for well-managed properties. Home values sit near national midrange, reinforcing an attainable cost-of-living profile for renters versus higher-cost Texas metros.
Demographic statistics aggregated within a 3-mile radius indicate a recent population dip but an increase in households, suggesting smaller household sizes and a gradually expanding tenant base. Forward-looking projections point to population growth and a notable increase in households over the next five years, which would expand the renter pool and help support occupancy stability. School quality signals are limited in this pocket, so investor strategies may lean more toward workforce housing than school-driven demand.
The property’s 1977 vintage is slightly older than the neighborhood average construction year. Investors should plan for targeted capital improvements and potential value-add renovations to compete effectively with newer and renovated stock, particularly in unit interiors and building systems.
Safety indicators here are mixed. Compared with neighborhoods nationwide, the area performs above average on safety (national standing is better than the midpoint). Within the Waco metro, however, its crime rank sits below the metro median (ranked 13 out of 92), indicating higher incident levels than many local peers.
Recent trend data show year-over-year declines in both violent and property offenses, according to WDSuite’s CRE market data. For investors, improving trends can support leasing stability and tenant retention, but on-the-ground management practices and security measures remain important given its below-median standing within the metro.
This 26-unit, 1977-vintage asset sits in a competitive Waco inner-suburban neighborhood with deep renter concentration and daily-needs retail coverage. Area rents trend below national levels, supporting retention and steady absorption, while ownership costs relative to income are comparatively high, reinforcing reliance on rental housing. Demographic statistics aggregated within a 3-mile radius point to household growth ahead, which should expand the tenant base and help support occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy is below the metro median, so thoughtful asset management and selective upgrades can be accretive to performance.
Given its slightly older vintage versus local stock, a focused value-add plan—targeting interiors, building systems, and curb appeal—can position the property competitively against newer or renovated comparables. The area’s improving safety trends and strong renter share support medium-term durability, provided operations stay disciplined on leasing, renewals, and expense control.
- High renter concentration supports demand depth and retention
- Below-national rent levels aid leasing velocity and occupancy stability
- Value-add potential from 1977 vintage via targeted renovations
- Household growth within 3 miles expands the tenant base over time
- Risks: below-metro-median safety rank and occupancy require disciplined management