| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 34th | Fair |
| Amenities | 15th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 147 Alamo St, Lone Star, TX, 75668, US |
| Region / Metro | Lone Star |
| Year of Construction | 1994 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
147 Alamo St, Lone Star TX 25-Unit Multifamily
Renter concentration is solid for a rural location and neighborhood occupancy has trended up, according to WDSuite’s CRE market data, supporting steady day-to-day leasing. Low local rents point to affordability that can aid retention while leaving selective room for value-add repositioning.
Set in a Rural neighborhood of Morris County, the area ranks 5th of 11 locally, placing it above the metro median for overall neighborhood performance. Amenity access is limited (few cafes, parks, or pharmacies), though basic services like grocery and restaurants are present at modest levels. For investors, this suggests a quieter submarket where tenant expectations skew toward practicality rather than lifestyle-driven offerings.
The property’s 1994 vintage is newer than the neighborhood’s average construction year of 1977, giving it a relative competitive edge versus older stock. That said, systems are reaching age where targeted modernization may improve operating efficiency and renter appeal—typical of late-1990s assets in smaller Texas markets.
Neighborhood occupancy is reported at 83.4% with a modest multi‑year uptick, indicating stable utilization of available housing. Roughly 35.6% of housing units are renter‑occupied, a share that sits in the top quartile nationally—supportive of a dependable tenant base for a 25‑unit asset. Median contract rents are lower in this neighborhood, which can bolster retention but may temper near‑term rent‑growth expectations. The rent‑to‑income ratio sits at 0.14, implying relatively manageable tenant affordability in ways that can reduce turnover risk and support occupancy stability.
Within a 3‑mile radius, recent population and household growth trends point to incremental renter pool expansion, which supports forward leasing fundamentals. Home values are comparatively low for Texas, which can introduce some competition from entry‑level ownership; however, more accessible ownership costs often coexist with durable demand for well‑managed rentals in rural markets. These dynamics, based on multifamily property research and CRE market data from WDSuite, translate into steady demand drivers rather than outsized growth catalysts.
Comparable neighborhood safety benchmarks are not available in the WDSuite dataset for this location. Investors typically contextualize risk by reviewing county and city crime trends and speaking with local property managers for on‑the‑ground perspective. Given the rural setting, a practical approach is to assess visibility, lighting, and access control at the property level and compare to nearby communities across Morris County.
- Sysco — foodservice distribution (35.2 miles)
Proximity to regional distribution and corporate services provides employment access for residents. The following employer reflects the nearest identifiable driver relevant to commuter demand.
This 25‑unit, 1994‑vintage asset in Lone Star benefits from a renter base that is sizeable for a rural market and neighborhood occupancy that has edged higher. Lower local rents and a moderate rent‑to‑income ratio support retention and day‑to‑day stability, while the property’s newer‑than‑average vintage offers scope for targeted upgrades that can enhance competitiveness versus older area stock. According to CRE market data from WDSuite, the neighborhood performs above the metro median among 11 local neighborhoods, aligning with a steady, income‑focused thesis rather than a pure growth play.
Key considerations include limited lifestyle amenities and comparatively accessible ownership costs that can compete with rentals. Execution that emphasizes operational reliability, curb appeal, and selective interior improvements should resonate with value‑conscious renters and sustain occupancy.
- Newer-than-neighborhood vintage (1994) creates practical upgrade and efficiency opportunities
- Renter-occupied share in the top quartile nationally supports a dependable tenant base
- Lower local rents and moderate rent-to-income ratio can aid retention and occupancy stability
- Above-metro-median neighborhood positioning points to steady, not speculative, performance
- Risk: limited amenities and accessible ownership options may constrain rent growth without clear value-add