| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 62nd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2716 Phillips Dr, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1977 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2716 Phillips Dr, Amarillo TX Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the area, according to WDSuites CRE market data. Investors evaluating Amarillo workforce housing may find pricing power supported by moderate rents and a stable tenant base.
The property sits in an Inner Suburb location with an A- neighborhood rating and ranks 15 out of 87 within the Amarillo metro, placing it in the top quartile among 87 Amarillo neighborhoods. Nearby amenities skew toward parks and casual dining: park access and cafes both rank within the metros more competitive tiers, while immediate grocery and pharmacy options are limited, suggesting residents typically drive to larger retail corridors.
Neighborhood occupancy is above the metro median (rank 25 of 87), indicating comparatively steady leasing conditions at the neighborhood level. The areas renter-occupied share is moderate, supporting a meaningful but not saturated tenant base. Median contract rents in the neighborhood sit above the metro median, yet rent-to-income metrics suggest manageable affordability that can aid retention and reduce turnover risk for stabilized assets.
Schools rate well for the metro (average rating near the top cohort; rank 5 of 87), which can help long-term leasing stability for family-oriented units. Amenity density is mixed: cafes and parks trend strong for the metro, but childcare and daily-needs retail are thinner locally, a factor owners may offset with on-site conveniences or partnerships.
Within a 3-mile radius, demographics show a slight population dip in recent years alongside a small increase in households, pointing to smaller household sizes and stable demand for rental units. Looking forward, projections call for growth in both population and total households within 3 miles, implying a larger tenant base and support for occupancy as new renters enter the market.
Safety indicators are mixed and broadly comparable to metro norms. The neighborhoods overall crime rank sits near the middle of Amarillos 87 neighborhoods, while recent property offense trends improved, moving into a stronger position versus national peers. However, violent offense trends have shown a recent uptick, warranting routine risk management and engagement with local resources.
In practical terms, investors should underwrite with conservative assumptions, monitor recent trend lines, and consider standard measures (lighting, access controls, and resident engagement) typical for Inner Suburb locations with mid-pack safety profiles.
Proximity to nearby corporate employment supports renter demand through shorter commutes and leasing stability, led by energy-utility operations serving the local workforce.
- Xcel Energy energy & utilities offices (2.3 miles)
This 81-unit asset benefits from neighborhood fundamentals that are competitive within the Amarillo metro: above-median occupancy at the neighborhood level, strong school ratings, and amenity access in parks and cafes. Median rents trend above metro medians but remain supportable relative to incomes, which can aid retention and limit concessions in typical leasing cycles, based on commercial real estate analysis from WDSuite.
Household growth within a 3-mile radius and projected expansion in both households and population point to a larger tenant base over the medium term. Limited immediate grocery and childcare options are considerations, but they can be offset with on-site services or partnerships, while ongoing attention to safety trends remains prudent.
- Above-median neighborhood occupancy supports leasing stability and visibility
- Rents above metro medians yet manageable relative to incomes aid retention
- Strong school ratings and nearby parks/cafes enhance long-term livability
- 3-mile projections indicate a growing renter pool supporting future demand
- Risks: thinner daily-needs retail nearby and mixed safety trendlines require active management