| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 50th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3300 Hobbs Rd, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1976 |
| Units | 62 |
| Transaction Date | 2005-06-27 |
| Transaction Price | $1,410,900 |
| Buyer | FFA LTD |
| Seller | CHRISTY PAUL B |
3300 Hobbs Rd Amarillo Multifamily Investment
Positioned for steady renter demand with a sizable tenant base and competitive neighborhood occupancy, according to WDSuite’s CRE market data. Investors may find durable performance supported by attainable rents and proximity to everyday services.
Neighborhood & Demand Drivers
The surrounding Amarillo neighborhood shows occupancy that is competitive among Amarillo neighborhoods, with stability supported by a renter-occupied share near half of local housing units. This indicates a meaningful depth of renter demand and a broader pool for leasing and renewals, based on CRE market data from WDSuite.
Within a 3-mile radius, recent trends show a modest population dip but a projected return to growth alongside an increase in households and slightly smaller average household sizes by 2028. For multifamily, a growing household count generally expands the tenant base and can support occupancy and lease-up, even as demographics shift toward more one- and two-person households.
The area’s amenity mix is practical rather than destination-oriented. Restaurant density is strong (competitive at roughly the 90th percentile nationally), and pharmacies are abundant (top tier nationally), while cafés, groceries, and parks are comparatively sparse. For investors, this combination supports day-to-day convenience but suggests that in-property amenities or partnerships may help with retention and competitiveness.
Rents in the neighborhood benchmark on the attainable side relative to national levels, which can aid lease stability. However, home values and ownership costs are also comparatively accessible for the metro, so multifamily operators should anticipate some competition from ownership and emphasize service, convenience, and resident experience to sustain pricing power and renewals.
Vintage context matters: this property’s 1976 construction is newer than the neighborhood’s older average stock, implying relative competitiveness versus legacy assets. Operators should still plan for ongoing systems modernization and selective upgrades to meet current renter expectations.
Safety Context
Neighborhood safety indicators are mixed but generally compare modestly better than national midpoints. Overall crime benchmarks around the mid-50s national percentile, indicating performance slightly above the national median. Within the Amarillo metro (87 neighborhoods), the area sits near the middle of the pack, so investors should underwrite typical urban-suburban risk management and lighting/security best practices.
Property-related offenses have shown notable improvement over the last year, trending among the stronger improvements nationally. Violent offense levels benchmark above the national midpoint, but recent year-over-year change has been unfavorable; investors should monitor trendlines and coordinate with local resources and on-site measures to support resident experience.
Employment Base & Commute
Proximity to established employers helps support workforce housing demand and retention. Nearby, utility operations provide steady white- and blue-collar employment that aligns with the area’s renter base.
- Xcel Energy — utilities (1.9 miles)
Why Invest
This 62-unit, smaller-format asset at 3300 Hobbs Rd benefits from a renter pool supported by competitive neighborhood occupancy and attainable rent levels. According to CRE market data from WDSuite, the surrounding area’s renter concentration provides depth for leasing, while household growth within a 3-mile radius is projected to expand the tenant base and support occupancy over the mid-term.
The 1976 vintage is newer than much of the neighborhood’s older housing stock, positioning the property well versus legacy assets. Targeted capital plans—focused on building systems and select interiors—can help capture value while competing effectively against accessible ownership options and a practical, service-oriented amenity context.
- Competitive neighborhood occupancy and meaningful renter concentration support leasing stability.
- Projected household growth within 3 miles expands the tenant base and supports long-term demand.
- 1976 construction offers relative competitiveness versus older stock, with upside from targeted systems and interior upgrades.
- Risk: accessible ownership options and a practical amenity mix require strong resident experience to sustain pricing and retention.
- Risk: mixed safety trendlines warrant ongoing monitoring and standard on-site security measures.