| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 59th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4302 SW 51st Ave, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1976 |
| Units | 109 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4302 SW 51st Ave, Amarillo — Inner-Suburb Multifamily Thesis
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data, supporting a durable leasing story for a 1970s-vintage, 109-unit asset.
This Inner Suburb neighborhood ranks 4th of 87 in the Amarillo metro (A+ rating), signaling strong local dynamics for multifamily. Neighborhood occupancy is 92.5% with a positive five-year trend, placing it above the metro median and suggesting resilient rent rolls for professionally managed assets. The area’s renter-occupied share is 40.5% (top quintile nationally), indicating a deep tenant base that can support leasing stability across cycles. These figures describe the neighborhood, not the property itself.
Livability drivers are balanced: grocery and pharmacy access test well versus national benchmarks, while parks and cafés are relatively limited, which may influence amenity-driven retention strategies. Average school ratings are above national medians, which can broaden the renter profile to households prioritizing school access alongside commute convenience.
Within a 3-mile radius, population has inched up in recent years and households have expanded, pointing to a gradually larger tenant base. Projections through 2028 indicate continued household growth and rising incomes, which supports occupancy stability and measured rent growth rather than rapid swing cycles. Median home values in the neighborhood remain comparatively accessible for the metro, but ownership costs still help sustain reliance on rental options; the neighborhood’s rent-to-income levels imply manageable affordability pressure and potential for solid lease retention.
Vintage matters locally: the neighborhood’s average construction year is 1979, so 1976 assets can compete effectively with value-add upgrades that modernize interiors and systems. At the same time, relatively smaller average unit sizes can align with workforce housing demand and price-sensitive leasing, a consideration for renovation scopes and finishes in any multifamily property research.
Neighborhood safety compares favorably in a broader context. Based on national comparisons, overall crime indicators are stronger than average, and violent-offense metrics sit in the top quartile nationwide. Within the Amarillo metro, the area performs competitively among 87 neighborhoods. Property-related offenses have declined year over year, which supports resident retention and reduces non-rent expense risk, though operators should continue standard security and lighting best practices. These insights describe neighborhood-level trends rather than block-by-block conditions.
- Xcel Energy — utilities/corporate office (1.1 miles)
Nearby employment anchors help underpin weekday demand and short commute times for renters working in utilities and corporate services.
The property’s 1976 vintage presents straightforward value-add potential in a neighborhood that ranks near the top of the Amarillo metro and has maintained above-median occupancy, according to CRE market data from WDSuite. A 109-unit scale can support professional management, operating efficiencies, and phased renovations to drive NOI without overextending capital plans. Neighborhood rent-to-income dynamics indicate manageable affordability pressure, favoring retention while still allowing measured pricing power tied to improvements and service quality.
Demand is supported by a sizable renter pool and stable neighborhood performance, while modest 3-mile population and household growth trends point to a gradually expanding tenant base. Amenity access is strong for essentials (groceries, pharmacies), though limited parks and café density suggest on-site amenities and programming may play a larger role in leasing velocity and renewals. Overall, the setting supports steady operations with value-add upside, balanced by prudent expectations on rent growth pacing.
- Above-median neighborhood occupancy with an A+ area ranking supports durable rent rolls
- 1976 vintage offers clear value-add levers (interiors/systems) versus a late-1970s local baseline
- 109-unit scale enables operating efficiencies and phased renovation execution
- Essentials-heavy amenity mix aids retention; limited parks/cafés may require stronger on-site programming
- Risk: Rent growth likely to be measured given affordability management and steady—not rapid—demand expansion