| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 37th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4120 Prairie Ave, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1983 |
| Units | 118 |
| Transaction Date | 2018-01-01 |
| Transaction Price | $6,328,000 |
| Buyer | 2990 Kapoli, LLC |
| Seller | Juniper Investment Group |
4120 Prairie Ave, Amarillo TX Multifamily Investment
Stabilized renter demand in an inner-suburban pocket with improving neighborhood occupancy supports consistent leasing, according to WDSuite’s CRE market data. Competitive amenities and accessible rents position this asset for dependable operations over a full cycle.
The property sits in an Inner Suburb of Amarillo ranked 16 out of 87 neighborhoods (A-), placing it in the top quartile among metro peers based on overall neighborhood quality. Amenity density is a local strength: cafes, childcare, and grocery options score in the higher national percentiles, translating to daily convenience that helps sustain renter interest and retention.
From an operations lens, the neighborhood s occupancy rate is in the high-80s with positive momentum over the past five years, signaling steady demand and manageable lease-up risk for comparable assets. Median contract rents in the neighborhood sit below national norms, reinforcing depth of price-sensitive demand and giving operators room to compete without overextending concessions.
Livability is mixed: while restaurants and daily-needs retail are abundant, park and pharmacy access are thin in the immediate area. For investors, this suggests a value proposition anchored more in convenience retail and services than in recreational space an important nuance for resident experience and lease management.
Demographic indicators aggregated within a 3-mile radius show modest population growth in recent years, a larger increase in household counts, and a gradual reduction in household size. This pattern typically expands the renter pool and supports occupancy stability. Within the same 3-mile radius, around two-fifths of housing units are renter-occupied, indicating a meaningful base of multifamily demand without excessive competition from highly transient tenancy.
Vintage context: built in 1983, the asset is slightly older than the neighborhood average (mid-1980s). Investors should underwrite ongoing capital needs and potential value-add scope (exterior refresh, common areas, and system updates) to enhance competitive positioning against newer stock while leveraging the area s amenity access and relative rent accessibility.
Neighborhood safety trends are mixed but improving in key areas. Relative to Amarillo s 87 neighborhoods, safety positions around the metro middle. Nationally, violent incident rates benchmark in the better half, while property offenses sit closer to the mid-range. Recent data also points to a meaningful year-over-year decline in estimated property offenses, an encouraging directional signal for investor risk assessment.
As with any submarket, risk varies by micro-location and property operations. Operators can mitigate exposure with standard measures (lighting, access controls, and resident engagement), while the neighborhood s improving property offense trend provides a constructive backdrop for leasing stability.
Proximity to utility and corporate operations underpins workforce housing demand and commute convenience for residents. The following nearby employer supports daytime population and stable renter traffic.
- Xcel Energy — utilities (1.3 miles)
4120 Prairie Ave is a 118-unit, 1983-vintage asset positioned in a top-quartile Amarillo neighborhood where amenity access and below-national rent levels support durable renter demand. According to CRE market data from WDSuite, neighborhood occupancy has trended upward in recent years, and demographic patterns within a 3-mile radius show increasing household counts and smaller household sizes both supportive of a larger tenant base and steady leasing.
The 1983 vintage implies ongoing capital planning and selective value-add opportunities to compete with newer stock. Coupled with strong daily-needs retail density and proximity to established employers, the asset s location should underpin retention and reduce concession risk, while rent-to-income dynamics in the area point to manageable affordability pressure and room for pragmatic rent optimization.
- Top-quartile neighborhood in Amarillo with strong amenity access supporting leasing and retention
- Upward neighborhood occupancy trend and growing 3-mile household counts bolster demand stability
- 1983 vintage offers value-add potential (exteriors, common areas, systems) to lift competitive position
- Accessible neighborhood rent levels and balanced rent-to-income dynamics support pricing power without heavy concessions
- Risks: limited parks/greenspace locally and mixed safety rankings require active property management and targeted CapEx