| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 37th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4500 S Virginia St, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2006-05-01 |
| Transaction Price | $695,000 |
| Buyer | Manley Davis and Ronnie Coburn |
| Seller | EABCO |
4500 S Virginia St Amarillo Multifamily Opportunity
Neighborhood-level occupancy has trended upward in recent years and sits around the metro middle, supporting steady leasing potential for a 20-unit asset, according to WDSuite’s CRE market data. Figures cited reflect the surrounding neighborhood rather than the property itself.
Located in an inner-suburb pocket of Amarillo rated A- at the neighborhood level, the area offers solid daily convenience. Cafe and restaurant density ranks among the top quartile of the 87 Amarillo neighborhoods, and grocery options are similarly competitive, indicating walk- or short-drive access to essentials. Park and pharmacy availability are limited locally, so residents are more reliant on private amenities or nearby submarkets for those needs.
For investors focused on renter demand, neighborhood occupancy sits in the metro mid-range but has improved over the last five years, a constructive sign for leasing stability. Rents benchmark on the lower end nationally but have moved upward over the same period, which can aid renewal capture without overextending pricing. Rent-to-income levels suggest manageable affordability pressure, supporting retention and collections management. These metrics are measured for the neighborhood and not the property.
Within a 3-mile radius, demographics show modest population growth alongside a rising household count and a slight reduction in average household size, pointing to a gradually expanding tenant base. Forecasts indicate continued gains in households by 2028, which can support occupancy stability and absorption for workforce-oriented units, based on CRE market data from WDSuite.
The property’s 1980 vintage is slightly older than the neighborhood’s average construction year (mid-1980s), which warrants attention to capital planning. This age profile can also create value-add potential through unit modernization and systems upgrades that position the asset competitively against nearby 1980s stock.
Neighborhood safety indicators track near the metro middle when compared against 87 Amarillo neighborhoods. Relative to areas nationwide, the location trends modestly safer than average on recent measures, according to WDSuite’s CRE market data. Property-related offenses have moved lower year over year, while violent incidents show recent volatility. Investors should underwrite to current conditions and monitor trend direction rather than relying on single-year readings.
Proximity to a regional utility employer supports weekday traffic and commute convenience, which can help renter retention for workforce housing.
- Xcel Energy — utilities (1.6 miles)
This 20-unit, 1980-vintage asset sits in an inner-suburb Amarillo neighborhood with improving occupancy and everyday conveniences that support renter stickiness. Rents in the area trend on the lower end nationally yet have moved upward, and rent-to-income levels indicate manageable affordability pressure—factors that can aid renewals and collections. According to CRE market data from WDSuite, the surrounding 3-mile area shows modest population growth and an increasing household count, which points to a slowly expanding renter pool over the next several years.
The building’s slightly older vintage relative to local averages suggests clear value-add pathways through unit refreshes and selective systems work, positioning the property to compete effectively with nearby 1980s inventory. Investors should balance these positives with prudent attention to capital items and local safety trends that have shown short-term variation.
- Neighborhood occupancy improving, supporting steadier leasing and renewals
- Everyday amenities (food and grocery) in top-quartile density locally
- Manageable rent-to-income dynamics help retention and collections
- 1980 vintage offers value-add upside; plan for targeted capex
- Risk: safety indicators are mixed; monitor trends and underwrite conservatively