| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 47th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1710 SE 34th Ave, Amarillo, TX, 79118, US |
| Region / Metro | Amarillo |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2007-06-20 |
| Transaction Price | $11,875,000 |
| Buyer | SILVER OAK APARTMENTS LTD |
| Seller | PERRY WILLIAMS INC |
1710 SE 34th Ave, Amarillo TX Multifamily Investment
Neighborhood occupancy trends sit near the national midrange while renter demand is supported by a sizable renter-occupied share, according to CRE market data from WDSuite’s Amarillo analysis; note these are neighborhood-level indicators, not property performance.
With a B+ neighborhood rating and a rank of 25 out of 87 in the Amarillo metro, the area is competitive among Amarillo neighborhoods. Amenity access skews practical: grocery density ranks 17 of 87 (above metro median) and cafes rank 9 of 87 (top quartile locally and strong nationally), while parks and pharmacies are limited nearby. For investors, this mix supports daily needs and leasing convenience even if recreation options are thinner.
Neighborhood contract rents have risen meaningfully over the last five years and sit above many peer areas in the metro, reinforcing pricing power potential. Neighborhood occupancy is 88.9% (measured for the neighborhood, not this property), tracking around the national middle, which suggests steady but competitive leasing conditions. The local renter-occupied share is 36–40% across neighborhood and 3-mile reads, indicating a meaningful tenant base without overwhelming exposure to transient turnover.
Within a 3-mile radius, demographics show modest population growth over the last five years and a larger increase in households, which expands the near-term renter pool. Forward-looking projections point to additional household growth by 2028, supporting demand for rental units and potential occupancy stability. Median home values are comparatively accessible for the region, which can create some competition from ownership, but the neighborhood’s rent-to-income profile (around 0.19) suggests manageable affordability pressure that can aid retention and reduce move-outs for price reasons.
The average neighborhood construction year trends newer (around 2012), while the subject was built in 2008. That places the asset slightly older than local stock—a manageable gap that may open pragmatic value-add opportunities (interiors, common areas, systems) to sharpen competitiveness against newer entrants. School ratings in the area trail national averages, which can modestly influence unit mix and target renter profiles; properties oriented to workforce households may see steadier demand than family-heavy positioning.
Safety indicators are mixed when viewed against both metro and national contexts. Overall crime sits near the national midpoint, which is typical for inner-suburban Amarillo locations. Property-related offenses have improved on a recent-year basis, with estimates indicating a double-digit decline—an encouraging directional trend for asset perception and retention.
At the same time, estimated violent offense rates showed a recent-year uptick, underscoring short-term volatility that investors should monitor through updated comps and police blotter trends. In metro terms, these readings place the neighborhood around the middle of 87 Amarillo neighborhoods, suggesting neither a clear advantage nor a structural disadvantage, but highlighting the importance of on-site security practices and lighting in asset plans.
Proximity to regional utilities and office employment supports commute convenience and leasing stability for workforce renters, with the following employer within a short drive.
- Xcel Energy — utilities (5.0 miles)
This 24-unit asset built in 2008 sits in a competitive inner-suburban Amarillo neighborhood where daily-needs amenities are accessible and neighborhood occupancy trends hover around the national middle. Renter demand is supported by a meaningful renter-occupied share locally and household growth within a 3-mile radius, pointing to a broader tenant base and potential leasing resilience. Based on CRE market data from WDSuite, neighborhood rents have advanced over the last five years, suggesting room for disciplined revenue management as renewals cycle.
Given newer average nearby inventory, the property’s slightly older vintage creates straightforward value-add angles—select interior updates and common-area refreshes can help the asset compete with post-2010 stock. Risks include softer school ratings, mixed safety signals that warrant monitoring, and balanced (not tight) occupancy at the neighborhood level; underwriting should assume competitive concessions management and targeted capital planning.
- Competitive Amarillo inner-suburb with grocery and cafe access supporting daily convenience
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Neighborhood rent momentum over five years provides a backdrop for disciplined pricing
- 2008 vintage offers practical value-add potential to compete with newer local stock
- Risks: school ratings below national norms, mixed but improving property-crime trend, and midrange neighborhood occupancy