| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5111 Interstate 35 N, Waco, TX, 76705, US |
| Region / Metro | Waco |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5111 Interstate 35 N Waco Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a steady tenant base, according to WDSuite’s CRE market data. Accessible rents relative to local incomes indicate room for durable occupancy management rather than top-end pricing.
The property sits in an inner-suburban Waco location where renter-occupied units account for a large share of neighborhood housing. With a renter concentration measured at the neighborhood level, multifamily assets can tap a broader tenant pool and support leasing stability, though price sensitivity should be expected given local income levels.
Everyday convenience is adequate: grocery access ranks competitive among Waco neighborhoods (17 out of 92), and parks score similarly well (14 out of 92). Dining density is serviceable (20 out of 92), while cafes and pharmacies are limited within the immediate neighborhood (both ranked 92 out of 92). These dynamics suggest solid essentials with fewer discretionary amenities nearby.
Neighborhood occupancy is moderate relative to national comparisons, and the median rent sits at a level that keeps the rent-to-income ratio manageable for many households in this area. Home values are lower than national norms, which can create some competition with ownership options; however, the neighborhood’s high share of renter-occupied housing reinforces reliance on multifamily stock for many households.
Within a 3-mile radius, population has grown in recent years and households have increased, pointing to a larger tenant base. Forward-looking data indicate additional household growth, which supports demand for rental units even as tenure patterns evolve. For investors, this combination argues for steady absorption and retention potential rather than outsized rent spikes.
The asset’s 1978 construction predates the neighborhood’s average vintage (1991). That older profile typically requires capital planning for systems and common areas, while also creating value-add potential through targeted renovations to improve competitive positioning against newer stock.
Neighborhood safety trends are comparatively favorable: the area sits above the national midpoint on safety measures and is competitive among Waco neighborhoods rather than at the bottom of the metro distribution. Recent year-over-year declines in both property and violent incident rates, based on WDSuite’s data, point to improving conditions rather than deterioration.
As always, crime can vary across blocks and over time. Framing risk at the neighborhood level helps calibrate expectations: this location is not among the lowest-crime areas nationally but trends indicate movement in a positive direction, which can support renter retention and day-to-day operations.
This 24-unit, 1978-vintage asset offers exposure to an inner-suburban Waco neighborhood with a deep renter base and manageable rent-to-income dynamics. Essentials-oriented amenities (grocery, parks) are competitive within the metro, and safety indicators have improved year over year. The older vintage suggests clear value-add and capex pathways to sharpen positioning versus newer inventory.
According to CRE market data from WDSuite, the neighborhood shows a high share of renter-occupied housing and moderate occupancy, pointing to demand depth with balanced pricing power. Household growth within 3 miles and a trajectory toward more households over the next several years support a larger tenant base and potential for stable leasing performance.
- Renter concentration at the neighborhood level supports a broad tenant pool and consistent leasing.
- Essentials access (grocery, parks) competitive among 92 Waco neighborhoods, aiding livability.
- 1978 vintage creates value-add opportunities; plan for systems upgrades and common-area improvements.
- 3-mile household growth expands the renter pool, supporting occupancy stability over time.
- Risks: limited discretionary amenities nearby and income sensitivity may temper rent growth; ongoing capex needed for an older asset.