| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 56th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 SW 15th Ave, Amarillo, TX, 79101, US |
| Region / Metro | Amarillo |
| Year of Construction | 2002 |
| Units | 114 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 SW 15th Ave Amarillo Multifamily Investment
Inner Suburb setting with solid renter demand and park/pharmacy access supports leasing resilience, according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the surrounding area rather than the property and trends as steady, with renter concentration providing depth for a 114‑unit asset.
The property sits in an Inner Suburb of Amarillo with an A- neighborhood rating (ranked 14 of 87 metro neighborhoods), indicating competitive fundamentals among local sub-areas. Parks and pharmacies score well versus national peers (parks in the 97th percentile; pharmacies in the 91st), while restaurant density is also strong (87th percentile), supporting daily-life convenience for residents. Cafe and childcare densities are thinner, which may modestly limit certain lifestyle conveniences.
Construction patterns in the surrounding neighborhood skew older (average vintage 1936), and a 2002 asset is newer than much of the nearby stock—typically a competitive position for marketing, systems reliability, and renter appeal, while still leaving room for targeted modernization to drive premiums. Neighborhood occupancy runs at mid-to-high levels (87.9% for the neighborhood, below national medians by percentile), suggesting stable, but not tight, leasing conditions.
Renter-occupied housing accounts for a high share of neighborhood units (66.3%, top national decile by percentile), signaling a deep tenant base that generally supports absorption and renewal stability for multifamily owners. Median contract rents at the neighborhood level track on the lower side relative to national benchmarks, which can aid lease-up velocity but may temper near-term rent growth without value-add or amenity upgrades.
Demographic statistics are aggregated within a 3-mile radius: population edged higher over the past five years, households expanded more notably, and forecasts point to additional population and household growth over the next five years. This trajectory suggests a gradually expanding renter pool that can support occupancy and renewal performance. School ratings are not available in the dataset; investors should underwrite education preferences locally if targeting family-oriented unit mixes.
Ownership costs in the area trend more accessible relative to many U.S. markets, which can introduce some competition from entry-level ownership options. Even so, the combination of strong renter concentration, convenient everyday amenities, and a relatively newer 2002 vintage positions the asset competitively versus much older neighborhood inventory.
Safety indicators for the neighborhood are competitive among Amarillo areas (rank 34 of 87), with overall crime levels benchmarking modestly better than the national middle (around the 60th percentile). Violent offense metrics compare more favorably (roughly 72nd percentile nationally) and have improved year over year, while property offenses sit closer to national averages. As always, investors should evaluate block-level conditions and management practices when underwriting security measures.
Nearby employment includes corporate operations that support steady renter demand and reasonable commute times for workforce tenants, led by utility services.
- Xcel Energy — utilities (4.5 miles)
A 2002 vintage, 114‑unit asset in an older-vintage neighborhood provides a relative quality advantage versus much of the local stock, with potential to capture premiums through selective upgrades. The surrounding area shows strong renter concentration and convenient daily amenities (notably parks and pharmacies), supporting leasing stability even as neighborhood occupancy trends below national medians by percentile. According to CRE market data from WDSuite, nearby rents benchmark on the lower side nationally, favoring absorption and retention while putting a premium on operational execution and targeted value-add to advance pricing power.
Within a 3-mile radius, recent household growth and projected gains in both population and households point to a gradually expanding tenant base. Given more accessible ownership costs relative to many U.S. markets, underwriting should consider some competition from entry-level ownership; however, renter reliance remains high locally, which is supportive for multifamily demand and renewal performance.
- 2002 construction is newer than the surrounding stock, supporting competitive positioning with potential modernization upside.
- High neighborhood renter concentration indicates depth of tenant demand and renewal stability.
- Strong access to everyday amenities (parks, pharmacies, restaurants) supports resident satisfaction and retention.
- Gradual population and household growth within 3 miles supports occupancy and long-term leasing fundamentals.
- Risks: neighborhood occupancy below national medians by percentile and competition from accessible ownership options may limit near-term rent growth without value-add.