| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 24th | Poor |
| Amenities | 16th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4120 Bellmead Dr, Waco, TX, 76705, US |
| Region / Metro | Waco |
| Year of Construction | 1984 |
| Units | 53 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4120 Bellmead Dr Waco Multifamily Opportunity
Neighborhood occupancy sits near the metro middle with gradual five-year improvement, pointing to steady renter demand in an amenity-light pocket of Waco, according to WDSuite’s CRE market data.
The property is in a rural-leaning area of Waco with a C neighborhood rating and limited retail and lifestyle amenities nearby. Grocery access is present, while cafes, parks, childcare, and pharmacies are sparse, underscoring a car-oriented living pattern. For investors, the amenity mix supports workforce housing positioning rather than lifestyle-driven premium pricing.
Occupancy in the neighborhood is around the low 90s and has edged higher over the past five years, placing performance near the metro median among 92 Waco neighborhoods. That stability, combined with low rent-to-income ratios locally, can support retention and reduce turnover risk if operations remain disciplined.
Construction in the immediate area skews newer than the subject’s vintage, with the neighborhood’s average year built in the 1990s. With the property built in 1984, investors should anticipate selective capital planning and potential value‑add upgrades to remain competitive against newer nearby stock.
Demographic statistics aggregated within a 3‑mile radius indicate recent population and household growth, with forecasts calling for additional increases over the next five years. A renter-occupied share just over half suggests a sizable tenant base, which, together with a high-cost ownership market relative to local incomes, reinforces reliance on multifamily housing and supports occupancy stability.
Safety signals are mixed and should be underwritten conservatively. Within Waco, the neighborhood’s crime positioning falls into a less favorable cohort (ranked 22 out of 92, indicating more crime than many local areas). Nationally, however, property offense metrics align with a safer tier, while violent offense levels sit modestly above the national middle. Trend-wise, recent data shows violent offenses increasing year over year, whereas property offenses have declined sharply. Investors should prioritize standard security, lighting, and tenant-screening protocols and monitor trends as part of ongoing asset management.
4120 Bellmead Dr offers a durable, workforce‑oriented demand profile supported by steady neighborhood occupancy and a sizable renter base. Built in 1984, the asset is older than the local average, creating a clear path for targeted value‑add and systems modernization to sharpen competitiveness against 1990s‑era stock. According to commercial real estate analysis from WDSuite, the surrounding area’s rent levels are manageable relative to incomes, which can aid retention even as amenity density remains limited.
Forward indicators within a 3‑mile radius point to continued population and household growth over the next five years, expanding the tenant pool and supporting leasing stability. The trade‑off is a car‑dependent setting and mixed safety readings within the metro, both of which warrant prudent underwriting and active management of operating practices.
- Stable neighborhood occupancy near metro median supports leasing consistency
- 1984 vintage presents value‑add and capital planning opportunities versus newer local stock
- Manageable rents relative to incomes bolster retention and reduce turnover risk
- Demographic growth within 3 miles expands the renter pool and supports occupancy
- Risks: amenity‑light, car‑oriented location and mixed safety metrics require conservative underwriting