| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 65th | Best |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6040 Belpree Rd, Amarillo, TX, 79106, US |
| Region / Metro | Amarillo |
| Year of Construction | 1978 |
| Units | 36 |
| Transaction Date | 2011-03-01 |
| Transaction Price | $3,192,500 |
| Buyer | 6040 BELPREE ROAD LLC |
| Seller | PANHANDLE REAL ESTATE ACQUISITION COMPAN |
6040 Belpree Rd Amarillo Multifamily with Durable Renter Base
Neighborhood occupancy is steady and renter concentration is high, according to WDSuite’s CRE market data, supporting predictable leasing for value-focused operators.
Located in Amarillo’s inner-suburban fabric, the property sits in a neighborhood rated A- and competitive among Amarillo neighborhoods (22nd of 87). Local amenity access is mixed, but daily needs score well: grocery density ranks near the top of the metro (14th of 87) and is strong nationally, while restaurants are comparatively plentiful. Parks, pharmacies, and cafes are limited within the immediate area.
Schools are a relative strength, with the average rating at 4.0 out of 5 (5th of 87 and top quintile nationally), which can aid retention for family-oriented renters and support stable tenancy.
Occupancy in the neighborhood is near the metro median, and the share of renter-occupied housing units is elevated (57.1%; 7th of 87), indicating a deep tenant base that can underpin multifamily demand. Median contract rents in the neighborhood have trended upward over the past five years, and rent-to-income levels are manageable, supporting lease stability rather than aggressive turnover.
Within a 3-mile radius, recent years show relatively flat household counts alongside a slight population dip, yet forward-looking projections call for household growth by 2028, implying a larger tenant pool and potential leasing tailwinds. Income measures in the 3-mile area have risen, which can support gradual rent steps while maintaining occupancy. Elevated ownership costs relative to incomes at the neighborhood level (high national percentile for value-to-income) further reinforce renter reliance on multifamily housing.
Vintage context: the asset’s 1978 construction is modestly older than the neighborhood’s average stock (early 1980s), suggesting routine capital planning and selective renovations could unlock value-add upside and bolster competitive positioning against newer product.
Safety indicators are mixed but generally comparable to broader norms. The neighborhood sits around the metro median for crime (49th of 87), with overall conditions testing better than the national midpoint. Recent trends diverge: estimated property offenses have moved lower year over year, while estimated violent offenses increased over the same period. For investors, this points to a market where property-related risks may be easing, but ongoing monitoring of violent-crime trends remains prudent.
Nearby employment anchors help support renter demand through commute convenience. The list below reflects proximate employers that can contribute to a stable leasing base.
- Xcel Energy — utilities (2.0 miles)
This 36-unit, 1978-vintage asset benefits from a deep renter base and neighborhood fundamentals that are competitive in the Amarillo metro. Neighborhood occupancy trends sit near the metro median, while a high share of renter-occupied housing supports demand depth and leasing resilience. Based on CRE market data from WDSuite, schools score well and everyday amenities like groceries and restaurants are accessible, which together can aid retention. Elevated ownership costs relative to incomes at the neighborhood level also support sustained renter reliance on multifamily housing.
Demographically, the 3-mile radius shows flat recent household counts with projections for household growth by 2028, pointing to a gradually expanding tenant pool. With construction older than the local average, targeted capital improvements and unit refreshes offer clear value-add pathways to strengthen competitive positioning without over-reliance on outsized rent moves.
- Deep renter-occupied housing share supports demand and occupancy stability
- Strong school ratings and accessible daily amenities aid resident retention
- Forecast household growth within 3 miles indicates a larger tenant pool over time
- 1978 vintage presents value-add potential through selective renovations and capex planning
- Risk: crime trends are mixed; monitor violent-offense trajectory and implement property-level safety measures