| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 48th | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7301 Sanger Ave, Waco, TX, 76712, US |
| Region / Metro | Waco |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2006-08-29 |
| Transaction Price | $1,925,000 |
| Buyer | 7301 MADEIRA LLC |
| Seller | HJORTING FAMILY TRUST |
7301 Sanger Ave, Waco TX — 20-Unit Value-Add Opportunity
Neighborhood rent levels and a moderate renter base point to steady leasing potential, while the 1973 vintage suggests renovation upside according to WDSuite’s CRE market data.
Located in an inner suburb of Waco, the property benefits from daily-needs access and outdoor amenities. Neighborhood grocery and pharmacy availability ranks competitively (18th and 12th of 92 metro neighborhoods), and park access is stronger than most of the metro (7th of 92). Restaurant density is also comparatively favorable (19th of 92), though cafés and childcare options are thinner nearby. These patterns generally support renter convenience without relying on destination retail.
The area’s construction year skews newer than this asset (neighborhood average 1981), making the 1973 vintage a candidate for targeted capital improvements and value-add positioning to compete against more recent stock. Renter-occupied housing accounts for roughly a third of neighborhood units (35.8% renter concentration; above the metro median by rank), indicating a meaningful tenant base for multifamily without signs of over-saturation.
Within a 3-mile radius, demographics show population growth over the last five years with households rising faster than population, and forecasts through 2028 indicate further population and household gains. A rising household count alongside slightly smaller average household size points to a larger tenant base and supports occupancy stability for well-positioned properties.
From an affordability standpoint, neighborhood rent-to-income metrics sit in a manageable range, which can aid retention and reduce turnover risk. Ownership costs in the area are moderate in national context, suggesting some competition from entry-level ownership; however, accessible rents and convenience amenities can sustain renter reliance on multifamily housing. These dynamics, based on commercial real estate analysis from WDSuite, frame the submarket as serviceable for workforce-oriented demand with value-add potential.
Safety indicators are mixed when compared across scales. At the metro level, the neighborhood sits near the middle of Waco’s 92 neighborhoods for overall crime (43rd of 92), while nationally it trends close to average on composite measures. Year over year, both property and violent offense estimates have improved materially, which supports a constructive trajectory rather than a deterioration narrative.
Nationally benchmarked components point to room for continued improvement: property offense levels compare below the national median for safety, and violent offense sits further below national safety medians. The recent double-digit declines, however, suggest momentum in the right direction. Investors should underwrite with conservative assumptions and emphasize standard security, lighting, and community-engagement measures to support retention.
This 20-unit asset offers value-add potential in an inner-suburban location with daily-needs access and a renter base sufficient to support leasing. The 1973 construction provides a clear renovation path to compete against a neighborhood stock that averages newer, while rent-to-income dynamics suggest manageable affordability that can aid retention. According to CRE market data from WDSuite, local amenities score competitively in the metro, and household growth within a 3-mile radius expands the prospective tenant pool over the medium term.
Key considerations include neighborhood occupancy that has been softer than many Waco peers and mixed school ratings, both of which warrant conservative underwriting and an operational focus on leasing execution. Improving safety trends and moderate ownership costs point to stable workforce demand if the asset is positioned with practical upgrades and serviceable finishes.
- 1973 vintage supports value-add upgrades to compete with newer neighborhood stock.
- Competitive access to groceries, parks, and services underpins renter convenience and retention.
- Household and population growth within 3 miles expand the tenant base and support occupancy stability.
- Manageable rent-to-income dynamics provide pricing flexibility without overextending residents.
- Risks: below-median neighborhood occupancy and mixed school performance require conservative lease-up and capex planning.