| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 50th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3019 SW 28th Ave, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1977 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3019 SW 28th Ave Amarillo Multifamily Investment
Neighborhood occupancy is competitive within Amarillo and renter demand is reinforced by a high renter-occupied share, according to WDSuite’s CRE market data. This asset’s location supports stable leasing dynamics in a submarket where pricing remains accessible and retention can benefit from balanced affordability.
Located in an Inner Suburb of Amarillo, the property sits in a neighborhood rated B where occupancy is competitive among Amarillo neighborhoods (40th of 87 overall) and slightly above the national middle. Rents in the immediate area trend below the metro median, which can support leasing velocity and reduce downtime for value-minded renters.
Renter concentration is high for the metro, with the share of renter-occupied housing units in the top quartile nationally and competitive among the 87 Amarillo neighborhoods. For investors, that indicates a deeper tenant base and supports occupancy stability across cycles.
Amenity access is mixed: restaurant density is strong compared with both the metro and national landscape, and pharmacy availability ranks at the top of the metro and among the highest nationally. However, neighborhood measures indicate limited park, grocery, café, and childcare density, so day-to-day convenience may be more auto-oriented.
Within a 3-mile radius, recent data show a slight population contraction alongside a modest increase in household counts and smaller average household sizes. Forward-looking estimates point to population and household growth over the next five years, which would expand the local renter pool and support leasing fundamentals if realized. Median home values nearby remain relatively accessible in context, which can create some competition with entry-level ownership but generally sustains multifamily demand by offering more flexible housing options.
The average neighborhood building vintage skews older than this asset; being built in 1977 positions the property newer than much of the surrounding stock from the 1950s. That relative age can help competitive positioning while still leaving room for targeted modernization to drive rent premiums.
Safety signals are mixed when compared with the Amarillo metro and national benchmarks. Overall crime positioning sits slightly better than the national middle, and estimated property crime shows improvement with one of the stronger year-over-year decreases among the 87 Amarillo neighborhoods. At the same time, recent estimates indicate an uptick in violent offenses, so investors should monitor trend direction and rely on updated, property-level diligence.
In practical terms, this translates to conditions that are broadly comparable to many Amarillo sub-areas, with improving property-crime dynamics but uneven recent signals on violent incidents. Interpreting these metrics at the neighborhood level—rather than the block—helps set expectations for tenant retention and operating practices without over-extrapolating from short-term swings.
Proximity to a regional utility office supports a steady commuter base and can underpin renter demand for workforce housing in the immediate area. The employers listed below reflect nearby institutional anchors likely to influence leasing stability.
- Xcel Energy — utility services (2.5 miles)
This 1977 vintage, garden-style asset benefits from a renter-heavy neighborhood where occupancy is competitive among Amarillo peers and pricing is accessible relative to the metro. Based on CRE market data from WDSuite, the surrounding area’s rent levels and above-median national occupancy positioning point to stable leasing, while the property’s newer-than-area vintage suggests potential to capture premiums through selective renovations.
Within a 3-mile radius, household counts have inched up even as recent population trends were soft, and forecasts indicate growth ahead—implying a larger tenant base and continued demand for rental units. Amenity access favors restaurants and pharmacies, though limited parks and grocery density suggest a more car-dependent location. Taken together, the thesis centers on occupancy stability, value-add opportunity, and disciplined expense planning.
- Competitive neighborhood occupancy and high renter concentration support leasing stability.
- 1977 construction is newer than much nearby stock, offering renovation upside and competitive positioning.
- 3-mile outlook points to population and household growth, expanding the renter pool and supporting demand.
- Accessible rent context enhances leasing velocity and potential retention for value-focused tenants.
- Risks: mixed safety trends and limited non-restaurant amenities may require proactive management and marketing.