| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 47th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Mockingbird Ln, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1976 |
| Units | 32 |
| Transaction Date | 2023-08-04 |
| Transaction Price | $907,725 |
| Buyer | MOCKINGBIRD APARTMENTS LLC |
| Seller | SPRINGER RENTALS AND SALES LLC |
3500 Mockingbird Ln Amarillo Multifamily Value-Add Opportunity
Neighborhood renter concentration supports a stable tenant base, and amenities are strong for an inner-suburb location, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood has been softer, suggesting leasing and renovation execution can be a differentiator.
Located in an Inner Suburb of Amarillo, the property benefits from a neighborhood that ranks near the top among 87 metro neighborhoods for amenity access. Nationally, the area sits in the top quartile for amenities, with especially dense restaurant and grocery options that help tenant convenience and day-to-day livability.
Renter-occupied housing accounts for a majority share at the neighborhood level (53.7% renter concentration), indicating depth for multifamily demand and a wider leasing pool. Median contract rents in the neighborhood are relatively accessible and the rent-to-income ratio trends lower, which can support retention and reduce turnover sensitivity during modest rent steps.
The average school rating trends around mid-level locally (above the national median), which can help broaden appeal to households while keeping expectations balanced. Parks are limited within the neighborhood, but everyday services (grocery, pharmacy) are concentrated, improving convenience for residents without requiring long commutes.
Construction trends in the immediate area skew to the early 1970s. With a 1976 vintage, this asset is slightly newer than much of the surrounding stock, offering a competitive position versus older properties while still warranting targeted system upgrades or common-area refreshes to capture value-add upside.
Within a 3-mile radius, household counts have inched up while average household size edged down, pointing to smaller households and a gradually expanding renter pool. Forward-looking data indicate additional household growth through the forecast period, which supports occupancy stability and steady leasing velocity for well-positioned units.
Safety indicators are mixed. Relative to neighborhoods nationwide, the area trends below the national median for overall safety, and ranks in the lower half among Amarillo’s 87 neighborhoods. For investors, this typically requires attentive on-site management, lighting, and access controls to support leasing and retention.
Recent trends show divergence: estimated property offense rates have decreased year over year, while estimated violent offense rates showed a recent uptick. These are neighborhood-level readings rather than property-specific conditions, and they underscore the importance of active operations and resident engagement to maintain a stable living environment.
Nearby employment is anchored by a regional utility presence that supports steady workforce housing demand and commute convenience for renters.
- Xcel Energy — utility services (2.2 miles)
This 32-unit, 1976-vintage asset sits in an amenity-rich Amarillo neighborhood with a majority renter-occupied housing base. According to CRE market data from WDSuite, the surrounding area’s rent-to-income profile is comparatively manageable, which can aid retention and support incremental rent growth tied to unit upgrades. Neighborhood occupancy has been softer, creating room for disciplined leasing strategy and operational improvements to outperform peers.
The property’s slightly newer vintage versus much of the nearby stock positions it for selective value-add—modernizing interiors, improving curb appeal, and addressing aging systems can enhance competitiveness. Strong access to restaurants, groceries, and daily services underpins livability, while a growing household base within 3 miles points to a larger tenant pool over the forecast period.
- Amenity-rich location with dense restaurant and grocery options supports day-to-day livability and leasing.
- Majority renter-occupied neighborhood indicates depth of tenant demand and broader leasing pool.
- 1976 vintage offers value-add upside through targeted upgrades and systems modernization.
- Household growth within 3 miles expands the potential renter base and supports occupancy stability.
- Risk: Softer neighborhood occupancy and mixed safety trends require active management and leasing execution.