| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 62nd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4320 Canyon Dr, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1983 |
| Units | 84 |
| Transaction Date | 2015-08-04 |
| Transaction Price | $2,143,800 |
| Buyer | PINE RIDGE AMARILLO APARTMENTS LLC |
| Seller | BAZALDUA JOSE |
4320 Canyon Dr, Amarillo TX Multifamily Investment
Neighborhood occupancy has held firm near the low-90s, supporting stable leasing conditions at the submarket level, according to WDSuite’s CRE market data. These figures reflect neighborhood dynamics rather than property performance and point to steady renter demand for professionally managed assets in this Inner Suburb location.
The property sits in an Inner Suburb pocket of Amarillo rated A- and ranked 15 out of 87 neighborhoods, placing it in the top quartile within the metro. Nearby amenities skew toward parks and cafes, with park and café density well above national norms, while everyday retail like groceries and pharmacies is thinner directly in the immediate area. For investors, that mix suggests lifestyle convenience for residents alongside some routine errand driving.
Neighborhood occupancy is measured at 93.3% (neighborhood-level), with positive movement over the last five years, which supports baseline stability for multifamily leasing. Median neighborhood contract rents have risen over the past five years, and the rent-to-income relationship remains manageable, indicating room for disciplined renewals rather than outsized pricing power.
Schools in the area average roughly 4 out of 5 and sit in the top quartile nationally, a favorable signal for family-oriented renter retention. The renter-occupied share of housing units in the neighborhood is moderate at roughly one-third, pointing to a meaningful—though not dominant—renter base that can underpin steady absorption without over-reliance on transiency.
Within a 3-mile radius, recent population trends have been relatively flat while the total number of households has edged higher, implying smaller average household sizes and a broader tenant pool for studios and smaller floor plans. Looking ahead, projections call for continued household growth and a further step down in average household size by 2028, which supports multifamily demand depth. In this context, a high-cost ownership market is not the key driver here; instead, comparatively accessible home values can introduce incremental competition from entry-level ownership, which warrants balanced lease management and renewal strategy grounded in commercial real estate analysis.
Safety indicators are mixed in a way that’s typical for many Amarillo submarkets. Neighborhood crime ranks 57 out of 87 metro neighborhoods, suggesting conditions around the metro average. Nationally, the neighborhood reads near mid-pack overall, with relatively favorable standing on violent incidents but a recent year showing an uptick in that category, while property crime has trended down over the past year. These patterns point to stable but variable conditions where standard multifamily safety practices and resident engagement remain important.
Employment access is supported by nearby corporate and utility offices that help sustain weekday traffic and workforce housing demand for renters seeking short commutes. The list below highlights the nearest notable employer presence.
- Xcel Energy — utilities (2.2 miles)
Built in 1983, the asset is newer than the neighborhood’s average vintage, which can enhance competitive positioning versus older stock while still requiring selective modernization of systems and finishes over a hold period. Neighborhood occupancy remains steady in the low-90s and median rents have grown over five years, supporting a base case of consistent leasing and renewals; according to CRE market data from WDSuite, the rent-to-income relationship at the neighborhood level suggests manageable affordability pressures that favor retention over aggressive rent-ups.
Within a 3-mile radius, households have increased even as population has been roughly flat, and projections call for additional household growth and smaller household sizes by 2028—signaling a larger tenant base for smaller formats and sustained demand for multifamily units. Balanced against this are relatively accessible ownership costs in the area, which can introduce competition from entry-level buying and favor disciplined pricing and tenant service to keep renewal rates healthy.
- Neighborhood-level occupancy and 5-year rent growth support steady leasing fundamentals
- 1983 vintage positions the asset well versus older stock, with targeted value-add potential
- 3-mile household growth and shrinking household size expand the renter pool for smaller units
- Nearby corporate employment access underpins weekday traffic and retention potential
- Risks: mixed safety trends and comparatively accessible ownership options may temper pricing power