| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 53rd | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 207 28th St, Canyon, TX, 79015, US |
| Region / Metro | Canyon |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2025-02-07 |
| Transaction Price | $3,737,300 |
| Buyer | PEPPER TREE AMARILLO 168 LLC |
| Seller | CASCADE VALLEY INVESTMENT GROUP LLC |
207 28th St Canyon, TX Multifamily Investment
Neighborhood occupancy near the metro median and a solid renter base point to steady lease-up and retention potential, based on CRE market data from WDSuite. Expectations for continued renter demand in Canyon support a durable income profile for a well-managed asset.
The property sits in an Inner Suburb neighborhood of the Amarillo, TX metro rated A- and considered competitive among Amarillo neighborhoods (ranked 21 out of 87). According to WDSuite’s CRE market data, neighborhood occupancy trends are around the metro median, which typically supports stable collections when paired with prudent leasing and renewal management.
Amenities skew toward everyday convenience rather than destination retail. Dining density and cafes benchmark above many areas nationally, while parks and pharmacy access are also comparatively strong. Groceries and childcare are less concentrated within the immediate neighborhood, so residents may rely on nearby corridors for those needs—an operational consideration for tenant marketing and retention.
Schools in the neighborhood average roughly 4 out of 5 and sit in the top quartile nationally, a factor that can bolster family renter demand. Educational attainment is also high, with the share of adults holding a bachelor’s degree well above national norms, which can translate into a deeper pool of income-qualified tenants.
Within a 3-mile radius, demographics indicate modest population growth historically with projections for additional expansion and a notable increase in household counts. A smaller average household size is expected over the next several years, which can expand the renter pool and support occupancy stability. Renter-occupied housing comprises roughly two-fifths of units in the 3-mile area, signaling a meaningful tenant base for multifamily. Median contract rents in the neighborhood benchmark below national medians, offering relative affordability that can aid retention while still allowing for measured rent growth where renovations add value.
Home values in the neighborhood are lower relative to national averages, placing the area in a more accessible ownership market. For investors, this can create some competition with entry-level for-sale options, but it also helps maintain rent-to-income ratios that support renewal probability and consistent payment performance when units are well-maintained.
Safety indicators for the neighborhood are mixed but generally around the middle of national comparisons, according to WDSuite’s CRE market data. Property offense benchmarks are modestly better than national midpoints, while violent offense indicators sit closer to the national middle. Recent one-year trends show some upward movement in estimated rates, which argues for standard risk management practices such as lighting, access controls, and coordination with local patrols.
For investors, the takeaway is pragmatic: results are not outliers in either direction at the metro level, and well-executed onsite operations—screening, maintenance responsiveness, and visibility—can help sustain leasing momentum and tenant satisfaction over time.
Regional employment is diversified, with commutable access to utility and corporate roles that help anchor renter demand. Notable nearby employer:
- Xcel Energy — utilities (12.3 miles)
Built in 1976, the asset is slightly older than the neighborhood average, pointing to clear value-add and capital planning opportunities. Neighborhood occupancy trends are near the metro median, and rents benchmark below national medians—conditions that can support steady absorption and renewal rates when paired with targeted unit and common-area upgrades. According to CRE market data from WDSuite, the surrounding area’s education and amenity profile is competitive for the metro, which can underpin a stable tenant base.
Within a 3-mile radius, projections indicate continued population growth and a sizable increase in household counts, implying a broader renter pool and support for occupancy over the medium term. The ownership market is relatively low-cost by national standards, so investors should balance achievable rent premiums with retention-focused strategies and operational efficiency.
- Neighborhood competitiveness in Amarillo with occupancy around the metro median supports stable collections
- 1976 vintage offers value-add potential through unit upgrades and building system improvements
- Demographic outlook within 3 miles points to more households and a larger renter pool
- Relative rent affordability can aid renewal probability while allowing selective rent lifts post-renovation
- Risks: modest recent crime upticks and competition from entry-level homeownership call for strong onsite operations and disciplined pricing