| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 62nd | Best |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4443 Ocean Dr, Corpus Christi, TX, 78412, US |
| Region / Metro | Corpus Christi |
| Year of Construction | 1974 |
| Units | 99 |
| Transaction Date | 2012-05-02 |
| Transaction Price | $4,485,000 |
| Buyer | Ocean Drive Equity Fund LLC |
| Seller | Ocean Drive Villas I-VI LP |
4443 Ocean Dr, Corpus Christi TX — Multifamily Investment Outlook
Neighborhood fundamentals point to steady renter demand and resilient occupancy at the submarket level, according to CRE market data from WDSuite. Amenity density and a relatively high renter concentration in the immediate area support leasing stability for this asset.
Located in an inner-suburban pocket of Corpus Christi, the neighborhood around 4443 Ocean Dr carries an A rating and ranks 9th out of 121 metro neighborhoods — a top-decile position locally. For investors, this indicates competitive location fundamentals relative to other Corpus Christi submarkets without implying guaranteed performance.
Amenity access is a local strength: cafes and restaurants rank among the area’s better concentrations in the metro (both within the top 10 of 121), and pharmacies are similarly proximate. Grocery access is above the metro median. Park and childcare density, however, are limited within the neighborhood, which may modestly affect appeal for some renter segments.
Neighborhood occupancy is 93.1% with improvement over the past five years, placing the area above the national mid-point for stability. The share of renter-occupied housing units is elevated for the U.S. (86th national percentile), implying a deeper tenant base and supporting demand for multifamily properties. An average household size on the higher side for the nation further reinforces demand depth for larger floorplans.
Ownership dynamics also support rentals: the value-to-income ratio sits in a higher national percentile, signaling a higher-cost ownership market relative to incomes, which can sustain reliance on multifamily housing and help with lease retention. At the same time, a low rent-to-income ratio nationally suggests room for pricing power must be balanced with retention risk management.
Construction vintage in the neighborhood averages early 1970s. This property’s 1974 build aligns with that era, which often points to ongoing capital planning needs but also potential value-add opportunities via system upgrades and modernization to sharpen competitive positioning.
Within a 3-mile radius, recent population trends have softened, but WDSuite’s projections indicate household counts are expected to expand over the next five years, which would grow the local renter pool and help support occupancy. Median incomes in the 3-mile area have risen and are projected to continue growing, which supports effective rent levels while keeping an eye on affordability pressure.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area scores below the national mid-point for overall safety (crime national percentile in the 30s), indicating investors should underwrite prudent security measures and tenant screening. Property crime rates sit in a lower national percentile, but have improved notably in the most recent year, while violent crime levels benchmark lower nationally and have shown a recent uptick. These trends suggest ongoing monitoring rather than definitive conclusions at the property level.
Within the Corpus Christi metro, neighborhood crime ranks 89th out of 121 neighborhoods. This places the area below the metro median on safety, reinforcing the need for operational best practices (lighting, access control, and partnerships with local patrols) to support resident satisfaction and retention.
The investment case for 4443 Ocean Dr centers on steady neighborhood-level occupancy, a deep renter base, and strong amenity access that supports leasing. Based on CRE market data from WDSuite, the immediate area sits in the top tier of Corpus Christi neighborhoods and shows above-average national standing for renter concentration, while ownership remains relatively costly versus incomes — conditions that tend to sustain multifamily demand and lease retention.
Built in 1974 across 99 units, the asset’s vintage points to value-add and systems upgrades as levers to enhance competitiveness and rents. Within a 3-mile radius, household counts are projected to increase alongside income gains, which can broaden the tenant base and support occupancy and rent growth, provided operators manage affordability pressure and focus on targeted renovations that matter most to renters.
- Neighborhood ranks top-decile among 121 Corpus Christi neighborhoods, supporting location fundamentals.
- Elevated renter-occupied share nationally signals a deeper tenant base and demand resilience.
- Ownership costs relatively high versus incomes, reinforcing reliance on rental housing and lease retention.
- 1974 vintage offers value-add potential through targeted renovations and system upgrades.
- Risks: below-median metro safety ranking and modest amenity gaps (parks/childcare) call for thoughtful operations and resident experience investments.