| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 30th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 515 Newman St, Sweetwater, TX, 79556, US |
| Region / Metro | Sweetwater |
| Year of Construction | 1983 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
515 Newman St, Sweetwater TX Multifamily Investment
Neighborhood amenities support steady renter demand and leasing durability, according to WDSuite’s CRE market data, with local occupancy trends indicating stable performance for workforce housing.
Sweetwater’s neighborhood surrounding 515 Newman St ranks first out of 9 metro neighborhoods for overall amenities, with cafes, groceries, and parks each competitive or above the metro median. Nationally, these amenity levels sit around the upper-middle percentiles, which reinforces day-to-day convenience and helps leasing velocity compared with more rural peers.
The neighborhood’s average school rating tracks below national norms, which can shape tenant mix toward workforce renters rather than school-driven moves. For investors, this typically places a premium on property operations, unit finishes, and service quality to drive retention instead of relying on school pull.
Occupancy for the neighborhood is in the mid-80s and has trended higher over the past five years, placing it above the metro median (rank 4 of 9). Renter-occupied housing comprises roughly the mid-30s share of units (rank 3 of 9; top quartile nationally), indicating a meaningful renter base that supports leasing stability for mid-scale assets.
Within a 3-mile radius, demographics show a largely stable population over the past five years and a modest increase in households, with WDSuite projections calling for further household growth alongside smaller average household sizes. That combination generally broadens the tenant base and supports occupancy, even if individual unit turnover remains active.
Home values in the area are comparatively low versus national benchmarks, which can introduce some competition from ownership. However, median contract rents and a rent-to-income ratio in the low teens point to manageable affordability pressure, supporting renewal prospects while suggesting that outsized pricing power may be limited.
The property’s 1983 construction is slightly older than the neighborhood average vintage, creating potential value-add levers through targeted interior updates and systems modernization to improve competitive positioning against newer stock.
Comparable crime rankings for this specific neighborhood are not available in WDSuite’s dataset, so investors should use multiple sources for diligence. A practical approach is to evaluate multi-year trends at the city and county levels, compare them with peer Texas markets, and incorporate on-the-ground feedback from property management and local public safety reports.
From an underwriting perspective, align marketing, lighting, and access controls with observed patterns on the blocks surrounding the asset, and benchmark loss history and incident reports against similar workforce properties in West Texas to keep assumptions realistic.
515 Newman St offers an attainable, operations-focused play in a small Texas market where renter demand is supported by everyday amenities and a durable workforce profile. Neighborhood occupancy has improved over the last five years and the renter-occupied share is competitive within the metro, suggesting a stable tenant base. According to commercial real estate analysis from WDSuite, home values are relatively low versus national norms, so pricing strategy should balance rent growth with retention to mitigate competition from entry-level ownership.
The 56-unit asset’s 1983 vintage implies potential value-add upside via unit renovations and building systems updates to strengthen positioning against slightly newer neighborhood stock. Within a 3-mile radius, household counts are projected to rise as average household sizes decline, expanding the renter pool and supporting occupancy stability over the medium term.
- Stable neighborhood renter base with occupancy above the metro median and rising over five years.
- 1983 vintage supports a targeted value-add plan to enhance competitive standing and rent potential.
- 3-mile household growth and smaller household sizes expand the tenant base and support leasing.
- Operational focus recommended: low home values can compete with rents, so retention and service quality are key.
- Risk: below-average school ratings and small-market dynamics can temper rent growth; underwrite conservatively.