| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 50th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 Uh, Canyon, TX, 79015, US |
| Region / Metro | Canyon |
| Year of Construction | 1976 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1601 Uh, Canyon TX 24-Unit Value-Add
Neighborhood occupancy sits in the low-90s and a deep renter base points to stable demand, according to WDSuite s CRE market data.
The property sits in an inner-suburb pocket of Canyon within the Amarillo metro that ranks in the top quartile among 87 metro neighborhoods (A-rated), indicating competitive positioning for multifamily. Neighborhood occupancy is steady around the low-90s, which supports cash flow durability at the submarket level rather than signaling outsized lease-up risk.
Renter concentration is high, with roughly two-thirds of housing units renter-occupied at the neighborhood level, suggesting depth in the tenant base and day-one leasing traction for a 24-unit community. Median contract rents in the area are below national medians, which can aid retention and limit turnover, while the rent-to-income profile indicates relatively low affordability pressure for most households. Homeownership costs are comparatively accessible versus national benchmarks, which may introduce some competition from entry-level ownership but also supports steady workforce rental demand.
Amenity access is practical: restaurants and everyday services (grocery and pharmacy) index well above national percentiles, while coffee shop and park density are limited. For investors, this mix aligns with workforce housing patterns where proximity to essentials matters more than destination retail. Average school ratings are not available in this dataset, so investors should underwrite school-driven demand conservatively.
Within a 3-mile radius, demographics show recent population growth and a meaningful increase in families and households, with additional household expansion projected through 2028. This points to a larger tenant base over time and supports occupancy stability for well-managed assets. These trends, coupled with below-national rent levels, can provide room for measured revenue management rather than relying on outsized rent lifts.
Safety indicators are mixed. Overall crime sits below the national median, yet property-related offenses are comparatively favorable (safer than the national median) and violent-offense measures are also above national median safety levels. Recent year-over-year changes show volatility, so prudent underwriting should assume stable-to-cautious operating protocols (lighting, access control, resident screening) rather than relying on continued improvement. These figures reflect neighborhood-level conditions, not property-specific experience.
Regional utilities provide a steady employment base within commuting distance, supporting workforce renter demand and lease retention.
- Xcel Energy utilities (12.0 miles)
Built in 1976, the asset is slightly older than nearby stock and presents classic value-add and capital planning angles (exteriors, unit interiors, building systems) to enhance competitiveness against newer product. At the neighborhood level, occupancy trends in the low-90s and a high share of renter-occupied units underpin demand resilience, while below-national rent levels support retention and give room for thoughtful revenue management rather than aggressive hikes.
Within a 3-mile radius, recent population gains and projected household growth through 2028 point to a larger tenant base and steady absorption potential. According to CRE market data from WDSuite, neighborhood positioning is top quartile within the Amarillo metro with strong access to everyday services, though limited parks and cafes and mixed safety trends warrant standard operational diligence. Overall, the thesis favors stable cash flow with clear, programmatic renovation upside.
- High renter concentration and steady neighborhood occupancy support demand stability
- 1976 vintage offers value-add potential via targeted interior and systems upgrades
- Below-national rent levels aid retention and measured rent growth strategies
- 3-mile population and household growth expand the tenant base over time
- Risks: mixed safety signals and limited park/cafe density require prudent operations