| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 37th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4101 Republic Ave, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1977 |
| Units | 48 |
| Transaction Date | 2019-10-31 |
| Transaction Price | $1,616,300 |
| Buyer | TWO BEL REPUBLIC LP |
| Seller | BUSCHMAN ENTERPRISES LP |
4101 Republic Ave Amarillo Multifamily Value-Add Opportunity
Steady renter demand and improving neighborhood occupancy point to durable leasing performance, according to WDSuite’s CRE market data. The investment angle centers on smaller-format units that can target cost-conscious renters while pursuing operational and renovation upside.
The property sits in an Inner Suburb location of Amarillo with an A- neighborhood rating, ranked 16 out of 87 metro neighborhoods—top quartile locally based on CRE market data from WDSuite. Neighborhood occupancy has trended higher in recent years, supporting leasing stability even though it sits below national medians.
Local convenience is a strength: high densities of restaurants, groceries, cafes, and childcare rank among the best in the Amarillo metro (e.g., cafes, groceries, and restaurants are competitive at ranks near the top out of 87). These amenities aid day-to-day livability and bolster appeal for renters who prioritize proximity to services. A trade-off is limited park and pharmacy presence in the immediate area, which may affect lifestyle positioning for some segments.
Within a 3-mile radius, demographics show modest population growth and an increase in households, pointing to a gradually expanding tenant base over the next few years. The area skews more owner-occupied (about two-thirds owner share), yet the renter-occupied share still provides a meaningful pool for multifamily, with household sizes trending slightly smaller—factors that can support demand for smaller units and sustained occupancy.
Rents in the broader 3-mile area have risen over the last five years and are projected to keep advancing, while neighborhood rent-to-income ratios suggest manageable affordability pressure relative to many markets. For investors, that combination indicates potential for consistent collections and measured pricing power, provided lease management remains disciplined.
Safety indicators are mixed but trending in constructive ways in parts of the dataset. Compared with neighborhoods nationwide, violent offense measures score in a stronger national percentile, while property offense sits around mid-range nationally. Importantly, the estimated property offense rate declined sharply over the past year (a positive directional signal), though violent offense change ticked higher—underscoring the need for ongoing monitoring rather than block-level conclusions.
Within the Amarillo metro, the neighborhood’s overall crime position is around the middle of 87 neighborhoods. For underwriting, prudent security measures and resident engagement can help sustain retention and limit non-revenue downtime as trends evolve.
Nearby employment is anchored by a utility corporate office that supports commute-friendly housing demand for a stable workforce.
- Xcel Energy — utility corporate offices (1.4 miles)
Built in 1977, the asset is older than the neighborhood average, creating clear value-add and capital planning angles (systems, exteriors, and unit finishes) to enhance competitiveness versus newer stock. The 48-unit, smaller-format profile can target renters seeking efficient layouts and attainable price points, supporting occupancy stability as household sizes edge lower and the 3-mile renter pool expands. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years and local amenities are strong, reinforcing day-to-day livability advantages.
Counterpoints to underwrite include below-median neighborhood incomes, limited nearby parks and pharmacies, and mixed but improving safety trends. With disciplined renovations and focused lease management, the thesis centers on capturing durable demand and incremental rent growth while maintaining affordability positioning.
- Value-add potential from 1977 vintage through systems, exterior, and interior upgrades
- Smaller-format units align with a growing pool of cost-conscious renters and smaller households
- Amenity-rich corridor (food, grocery, childcare) supports leasing and retention
- Occupancy has trended higher in the neighborhood, supporting stable performance
- Risks: lower local incomes, limited parks/pharmacies, and mixed safety momentum require conservative underwriting