| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 53rd | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 7th Ave, Canyon, TX, 79015, US |
| Region / Metro | Canyon |
| Year of Construction | 1982 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2700 7th Ave, Canyon TX Multifamily Investment
Stable renter demand and solid neighborhood fundamentals suggest dependable operations, according to WDSuite’s CRE market data, with local occupancy trends and renter concentration supporting consistent leasing.
The property sits in an Inner Suburb neighborhood of the Amarillo, TX metro that ranks 21 out of 87 neighborhoods (top quartile among 87 metro neighborhoods) with an A- neighborhood rating. Neighborhood occupancy is about 91% and has been relatively steady, a constructive backdrop for maintaining tenancy at market rents; this refers to the neighborhood’s occupancy, not the property’s.
Construction in the area averages late-1970s. With a 1982 vintage, the asset is slightly newer than the neighborhood average, which can reduce near-term competitive pressure from older stock while still leaving room for targeted modernization to enhance positioning.
Within a 3-mile radius, the demographic mix skews younger, with a sizable 18–34 cohort and a modest population increase in recent years. Projections indicate population growth and a notable increase in households alongside smaller average household sizes by 2028, pointing to a larger tenant base and steady demand for smaller units—well-aligned with average unit sizes around 623 sq. ft.
Renter-occupied share sits in the mid-40% range both at the neighborhood level and within 3 miles, indicating a balanced tenure profile that supports depth of the tenant pool without overreliance on transient demand. Median contract rents are in the low-$800s today and are expected to trend higher, while a rent-to-income ratio around 0.17 suggests manageable affordability pressure—favorable for lease retention and measured pricing power.
Local livability supports renter appeal: restaurants and parks density score above many Amarillo peers, and average school ratings are strong (around 4.0 out of 5, top-tier in the metro), which can aid resident retention for larger units. Home values are comparatively lower for the region, which can introduce some competition from ownership alternatives, but the relative affordability of rentals should continue to sustain demand at stabilized occupancy levels.
Safety indicators compare around the national middle to modestly better for property offenses and near the national midpoint for violent incidents. In metro context, the neighborhood’s crime ranking compares favorably to several Amarillo neighborhoods, though conditions can vary block to block.
Nationally benchmarked data show property offenses near the safer side of average (mid-50s percentile) and violent offenses closer to the national middle (upper-40s percentile). Recent year-over-year movements indicate some uptick in estimated incident rates, so prudent operators may account for lighting, access control, and resident engagement as part of ongoing risk management. All figures reference neighborhood-level trends, not the subject property.
The area draws on a diversified Amarillo employment base, with utility and related corporate offices contributing to commuter demand that supports renter retention.
- Xcel Energy — electric utility operations (12.6 miles)
This 28-unit, 1982-vintage asset benefits from a top-quartile neighborhood profile within the Amarillo metro, steady neighborhood occupancy near 91%, and a renter-occupied share in the mid-40% range that supports a durable tenant base. According to CRE market data from WDSuite, current rent levels and a rent-to-income ratio around 0.17 point to manageable affordability pressure, reinforcing lease retention while allowing for disciplined rent growth.
Forward-looking 3-mile projections indicate population growth, a sizable increase in households, and smaller household sizes—signals consistent with renter pool expansion and demand for smaller formats. Given its slightly newer-than-average vintage for the area, the property has potential to capture leasing stability today and selective value-add upside through modernization that enhances competitive positioning versus older stock.
- Top-quartile neighborhood standing in Amarillo supports occupancy stability
- Balanced renter-occupied share and steady neighborhood occupancy underpin consistent leasing
- 1982 vintage offers targeted value-add potential versus older nearby stock
- 3-mile demographics point to renter pool expansion and demand for smaller units
- Risk: ownership alternatives are relatively accessible and incident rates have seen recent upticks—plan for competitive amenities and prudent security