| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 60th | Best |
| Amenities | 5th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 625 Tokio Rd, West, TX, 76691, US |
| Region / Metro | West |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
625 Tokio Rd West, TX Multifamily Investment
Accessible rents and competitive per‑unit NOI in the neighborhood point to steady yield potential for smaller assets, according to WDSuite’s CRE market data.
Located in a rural pocket of the Waco, TX metro, the neighborhood posts a B+ rating and ranks 28 out of 92 metro neighborhoods — competitive among Waco neighborhoods. Median contract rents are lower than many peer areas (rank 59 of 92), which supports leasing for value‑oriented product. Neighborhood occupancy trends sit below the metro median (rank 69 of 92), so underwriting should emphasize leasing execution and retention rather than aggressive rent-ups.
Schools are a relative bright spot: the average school rating is around 4.0 out of five, ranking 5 of 92 locally and placing the area in the top quartile nationally (84th percentile). That academic backdrop can help stabilize family‑oriented demand, especially for studios and smaller one‑bedroom units positioned as attainable options.
Livability reflects a car‑oriented setting. Overall amenities rank near the middle of the pack (49 of 92), with limited grocery and restaurant density measured in the immediate area, though café density ranks 13 of 92 locally. For investors, this typically translates to residents relying on nearby corridors for daily needs; marketing should highlight drive‑time convenience rather than walkability.
Tenure patterns indicate a smaller renter base: an estimated 27.7% of housing units are renter‑occupied (rank 34 of 92, competitive among Waco neighborhoods). This implies a focused but serviceable tenant pool for workforce housing, with pricing power influenced by nearby ownership alternatives. Median home values sit in a higher‑cost ownership range relative to incomes (value‑to‑income ratio ranking 4 of 92; 83rd percentile nationally), which can reinforce reliance on multifamily for households not pursuing ownership.
Demographic statistics within a 3‑mile radius show modest population contraction over the past five years, with forecasts indicating a slight further dip in residents but an increase in total households alongside smaller average household sizes. For investors, that combination suggests a larger count of householders competing for units even as overall population is flat to down — a dynamic that can support occupancy stability if product is positioned to meet attainable price points.
Safety indicators are comparatively favorable versus national benchmarks, with the neighborhood landing above the national average overall (59th percentile) and violent‑offense exposure positioned in a stronger range (around the 90th percentile nationally). Within the Waco metro, the broader crime profile ranks 27 out of 92 neighborhoods, which is competitive among local peers.
Recent data do note volatility in property‑offense trends year over year, so investors should focus on current, property‑level measures and market‑standard security practices. As always, interpret safety at the neighborhood scale rather than the block level, and monitor trend direction as part of ongoing asset management.
Built in 1985, the 36‑unit asset is newer than the neighborhood’s average vintage, offering a relative edge versus older local stock while leaving room for targeted modernization to drive rentability and control near‑term capital exposure. According to CRE market data from WDSuite, the submarket’s lower median contract rents and strong per‑unit NOI positioning support a cash‑flow‑first thesis, with schools and ownership costs helping sustain renter demand despite a smaller renter‑occupied share.
Forward indicators show a nuanced demand picture: within a 3‑mile radius, total households are projected to rise even as population trends soften, implying more householders and a larger tenant base over time, while overall neighborhood occupancy sits below the metro median — a reminder to prioritize leasing execution, renewals, and attainable pricing. Taken together, the asset’s relative vintage, attainable positioning, and stable demand drivers argue for durable performance with disciplined operations.
- 1985 vintage offers competitive positioning versus older neighborhood stock with selective renovation upside
- Lower neighborhood rent levels support lease‑up and retention for value‑oriented units
- School quality and ownership costs reinforce multifamily demand and pricing discipline
- Household growth amid smaller household sizes points to a broader tenant base within 3 miles
- Risks: below‑median neighborhood occupancy, rural amenity depth, and recent property‑offense volatility warrant conservative underwriting