| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 33rd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 625 S 5th St, Waco, TX, 76706, US |
| Region / Metro | Waco |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
625 S 5th St, Waco TX Multifamily Investment
2012-vintage, 24-unit asset positioned in a renter-heavy neighborhood, with amenity density supporting demand and newer construction offering competitive positioning, according to WDSuite s CRE market data.
The immediate neighborhood ranks 12 out of 92 in the Waco metro (A rating), placing it in the top quartile among metro neighborhoods for overall livability and fundamentals based on CRE market data from WDSuite. Amenity access is a local strength: restaurants and cafes are near the top of metro rankings (2nd and 1st of 92 respectively) and score in the high national percentiles, while grocery access is competitive (7th of 92). Pharmacies also rank 1st of 92 and sit in a very high national percentile. Parks and childcare options are limited locally, which may affect family-oriented appeal.
Neighborhood rental dynamics point to a deep tenant base. The share of housing units that are renter-occupied in the neighborhood is elevated (93rd national percentile), indicating strong multifamily demand potential. However, the neighborhood s occupancy rate is lower than most of the metro (ranked 88 of 92), suggesting vacancies are higher relative to local peers; operators should plan for proactive leasing and retention strategies.
Within a 3-mile radius, population and household trends expand the potential renter pool. Population increased in recent years and is projected to grow further over the next five years, with households also expected to rise meaningfully. This points to a larger tenant base and supports occupancy stability as new renters enter the market. Median contract rents in the 3-mile area have risen and are forecast to continue growing, which can support revenue, but it also calls for careful lease management to balance pricing and retention.
Housing stock in the neighborhood skews older (average vintage 1979; rank 61 of 92, near the metro median), which can make newer assets relatively competitive on finishes and systems. School ratings in the neighborhood are low versus national benchmarks (0th national percentile), so operators targeting family renters may need to emphasize non-school amenities and convenience. Median home values sit below many U.S. markets, yet the value-to-income ratio is comparatively high for the metro (rank 8 of 92; 74th national percentile), a pattern that can sustain renter reliance on multifamily housing and support lease retention.
Safety indicators present a mixed picture. Relative to Waco s 92 neighborhoods, the area s crime rank sits in the higher-risk segment (rank 17 of 92), yet it compares favorably at the national level (67th percentile nationally). Importantly, recent trends show meaningful improvement: estimated violent and property offense rates have declined over the past year, with those reductions ranking near the top of Waco neighborhoods and in high national percentiles. Investors should weigh the metro-relative positioning against the improving trajectory when underwriting operations and tenant retention.
Built in 2012, this 24-unit property offers newer-vintage efficiency versus an older neighborhood baseline, which can reduce near-term capital needs and support competitive positioning. The surrounding neighborhood shows strong amenity density and a high share of renter-occupied housing units, pointing to durable multifamily demand. According to CRE market data from WDSuite, the neighborhood s occupancy rate trends lower than most local peers, so execution will matter; however, a growing 3-mile renter pool and improving safety trends provide supportive tailwinds.
Home values in the area are relatively modest in dollar terms, but the higher value-to-income ratio within the metro context suggests many households continue to rely on rental housing, which can aid pricing power and lease retention. Forecast increases in households and rents within 3 miles bolster the long-term case, while operators should plan for prudent lease management given affordability pressure and variable neighborhood occupancy.
- Newer 2012 vintage versus older local stock supports competitiveness and moderates near-term capex.
- High renter-occupied share locally indicates depth of tenant base and demand for multifamily units.
- Amenity-rich location (dining, cafes, grocery, pharmacy) enhances leasing appeal and retention.
- Growing 3-mile population and household counts support occupancy stability and long-term revenue growth.
- Risks: neighborhood occupancy ranks low in the metro and rent affordability pressures require disciplined leasing and renewals.