925 N 26th St Waco Multifamily Investment

Located in an Inner Suburb of Waco, the property sits in a neighborhood rated B+ (31st of 92 locally), signaling competitive livability relative to the metro. Restaurant density is strong — among the top tier of Waco neighborhoods — while grocery access is also competitive locally. By contrast, cafes, parks, and pharmacies are sparse in the immediate area, so onsite amenities and convenience to restaurants and grocers can play a larger role in retention.

Neighborhood rent levels trend below the national midpoint, and the renter concentration is substantial at the neighborhood level (share of housing units that are renter-occupied), pointing to depth in the tenant base. Median rent growth over the last five years has been steady, and the local rent-to-income ratio near the area’s average suggests manageable affordability pressure — useful for lease management and renewals in value-focused multifamily property research.

Within a 3-mile radius, household counts have increased in recent years and are projected to expand through 2028, supporting a larger tenant base and leasing velocity. The 18–34 age cohort is sizable within this radius, which typically aligns with rental demand, and forecast income gains point to improved ability to absorb measured rent growth while sustaining occupancy stability.

Vintage matters: the neighborhood’s average construction year skews older (1950s), while this asset’s 1981 build is newer than much of the surrounding stock. That positioning can be competitive versus mid-century properties, though investors should plan for ongoing system updates and targeted renovations to capture value-add upside and reduce near-term capital surprises. Note that neighborhood occupancy currently trails the metro median; operators should underwrite conservative lease-up/turn assumptions and emphasize resident experience to offset softer submarket occupancy.