| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 37th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4515 S Virginia St, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1980 |
| Units | 93 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4515 S Virginia St, Amarillo TX Multifamily Investment
Inner Suburb location with dense daily amenities and an improving neighborhood occupancy trend supports renter demand, according to WDSuite’s CRE market data.
Situated in an Inner Suburb pocket of Amarillo, the property benefits from strong daily-needs access. Neighborhood amenity density for restaurants, groceries, and cafes ranks among the top quartile of 87 metro neighborhoods, indicating convenient options for residents and competitive leasing appeal versus other Amarillo locations. Park and pharmacy access are thinner locally, which may modestly temper livability for some renters but does not negate the area’s service and food access strength.
The neighborhood is rated A- and ranks 16th of 87 in the metro, placing it in the top quartile locally. Neighborhood occupancy sits around the metro median and has trended upward over the last five years, a positive signal for rent roll durability and renewal capture. Rent-to-income in the neighborhood reads relatively low, suggesting lighter affordability pressure that can support retention and measured pricing decisions.
Within a 3-mile radius, demographics indicate slight population growth in recent years and a larger increase in households, with forecasts calling for continued household expansion. This points to a gradually expanding tenant base and supports occupancy stability. The average household size in the 3-mile area is edging lower, which can sustain demand for smaller formats.
Vintage context: the property was built in 1980, modestly older than the neighborhood’s average construction year of 1986. For investors, that typically implies planning for targeted capital projects and select interior or system updates, with potential value-add positioning relative to older nearby stock. These dynamics, combined with amenity access and stable neighborhood fundamentals, align with a practical commercial real estate analysis of long-run demand drivers.
Safety indicators for the surrounding neighborhood are mixed but steady in context. Relative to the Amarillo metro, the neighborhood’s crime standing is near the median among 87 neighborhoods. In national terms, overall crime sits modestly above the midpoint, while violent offense measures track stronger than the national middle, indicating comparative resilience versus many U.S. neighborhoods.
Recent trends show property offense rates declining year over year at a pace that outperformed many areas nationwide. Investors should read this as directional improvement rather than a guarantee, and continue underwriting with standard precautions and property-level security measures.
Proximity to nearby corporate offices supports a stable workforce renter base and commute convenience for residents. The following employer presence reflects accessible job centers that can aid leasing and retention.
- Xcel Energy — utility services (1.6 miles)
This 93-unit asset with smaller-average unit sizes in an amenity-dense Inner Suburb submarket is positioned to serve cost-conscious renters and drive steady occupancy. Neighborhood fundamentals rank in the top quartile among 87 Amarillo neighborhoods, and area occupancy has improved over the past five years. Based on multifamily property research from WDSuite, affordability pressure in the neighborhood is comparatively light, which can support renewal capture and disciplined rent growth management.
Built in 1980, the property may benefit from targeted renovations and system upgrades, creating a clear value-add path while leveraging stable neighborhood demand and proximity to employment. Forward demographic indicators within a 3-mile radius point to continued household growth, expanding the tenant base and supporting longer-term leasing stability.
- Amenity-dense Inner Suburb location with top-quartile neighborhood ranking in the Amarillo metro.
- Neighborhood occupancy trending upward, with relatively low rent-to-income supporting retention and pricing flexibility.
- 1980 vintage offers value-add potential through targeted interior and system updates.
- 3-mile household growth outlook suggests a gradually expanding renter pool and stable leasing pipeline.
- Risk: NOI per unit tends to be lower versus national benchmarks; returns may rely on expense control and operational efficiency.