| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 34th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 715 Montague St, Nocona, TX, 76255, US |
| Region / Metro | Nocona |
| Year of Construction | 1978 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
715 Montague St, Nocona TX Multifamily Investment
Neighborhood occupancy has trended upward and sits above the metro median, according to WDSuite’s CRE market data, suggesting steadier income relative to nearby submarkets. A top-quartile neighborhood rating locally supports an underwriting case for durable renter demand.
The property sits in a rural neighborhood that ranks in the top quartile among 13 metro neighborhoods, indicating competitive fundamentals within Montague County. Daily-needs access is solid for a small market—grocery and pharmacy presence is competitive among county peers—supporting resident convenience and retention.
Median home values are comparatively low for the region, which can create some competition with ownership; however, rent-to-income levels are favorable (high national percentile), which supports lease retention and reduces near-term affordability pressure for renters. Neighborhood schools trend around the national middle, aligning with stable, rather than premium, family demand.
The area’s renter concentration is modest, with a lower share of housing units that are renter-occupied versus urban submarkets. For investors, that implies a smaller but steady tenant pool; leasing tends to be relationship-driven, and workforce-oriented demand can be durable in this context. Occupancy at the neighborhood level is above the metro median, which supports underwriting for consistent collections rather than aggressive rent growth.
Vintage context matters: the asset’s 1978 construction is newer than the neighborhood average stock from the mid-1960s, providing a relative competitive edge versus older properties while still warranting targeted system upgrades and interior refreshes for positioning. These dynamics, paired with moderate amenities and a resilient local services base, create a pragmatic value-add canvas for investors conducting multifamily property research.
Comparable public safety metrics for this neighborhood are not available in the current WDSuite dataset. Investors typically benchmark incident trends against county and regional baselines to evaluate management needs and insurance assumptions. In smaller rural markets, prudent measures—lighting, access control, and community standards—are common risk mitigants and can support tenant retention.
This rural location serves a workforce drawn to local services and regional employers within commuting range, which can support tenant stability even as the renter base is smaller than in urban nodes.
This 37-unit, 1978-vintage asset offers a straightforward value-add thesis in a neighborhood that ranks in the top quartile among 13 metro neighborhoods. Occupancy at the neighborhood level sits above the metro median, pointing to income stability. Favorable rent-to-income dynamics suggest retention strength, while relatively low area home values mean some competition from ownership—best addressed through thoughtful renovations and disciplined pricing. Based on commercial real estate analysis from WDSuite, investors can underwrite steady demand with measured rent growth assumptions.
Relative to older local stock, the property’s vintage provides a competitive baseline while still benefiting from targeted capital plans (mechanicals, exteriors, interiors) to lift rents and expand the tenant base. The modest renter concentration implies a thinner pipeline than urban cores, reinforcing a focus on operations, reputation, and renewal strategy over pure lease-up velocity.
- Neighborhood fundamentals in the top quartile locally support stable occupancy and collections
- 1978 vintage is newer than area averages, enabling targeted value-add for competitive positioning
- Favorable rent-to-income profile supports renewal rates and pricing discipline
- Operational upside via focused capex and management in a relationship-driven renter base
- Risk: modest renter-occupied share and accessible ownership options may temper lease-up speed and rent growth