| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 41st | Good |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 321 W Cleveland Blvd, Aransas Pass, TX, 78336, US |
| Region / Metro | Aransas Pass |
| Year of Construction | 1973 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
321 W Cleveland Blvd Aransas Pass Multifamily Value‑Add Opportunity
Neighborhood fundamentals point to a growing renter base within a 3‑mile radius and manageable rent burdens that support retention, according to CRE market data from WDSuite. The thesis centers on steady renter demand and upgrade-driven pricing power rather than outsized lease‑up assumptions.
This suburban neighborhood in the Corpus Christi, TX metro is rated C+ and ranks 78 out of 121 metro neighborhoods, placing it below the metro median on overall performance. For investors, the area’s appeal is tied to practical living needs rather than lifestyle-driven amenities, with daily conveniences more prominent than destination retail or entertainment.
Amenity access is mixed. Grocery availability is a relative strength compared with many neighborhoods nationally, while cafes, parks, and pharmacies are limited nearby. For workforce renters, this balance can still support day‑to‑day convenience, but it may not command premium rents on amenity appeal alone.
Within a 3‑mile radius, population and household counts have been expanding and are projected to continue increasing by 2028, indicating a larger tenant base. WDSuite’s CRE market data also shows the renter‑occupied share of housing units is expected to rise, which typically supports multifamily leasing stability and a deeper pool of prospective tenants. Median contract rents in the neighborhood have trended upward over the past five years, yet rent‑to‑income ratios remain favorable in context, reinforcing potential for retention and disciplined rent management.
Vintage context matters: the average construction year in the surrounding neighborhood skews older, and this 1973 asset can compete with 1960s-era stock if upgrades address interior finishes, building systems, and curb appeal. While neighborhood occupancy has softened in recent years, demand signals tied to household growth and a rising renter cohort suggest landlords who execute targeted improvements and right-size unit finishes can defend occupancy and capture incremental rent.
Relative to Corpus Christi metro neighborhoods, this area ranks 68 out of 121 on crime, indicating a lower‑tier position locally. Compared with neighborhoods nationwide, safety metrics sit below the national median; however, recent year‑over‑year trends show improvement, with both violent and property offense rates moving downward. Investors should underwrite with pragmatic operating assumptions, emphasizing lighting, access control, and tenant screening to support retention.
Built in 1973 with 74 units, the property presents a clear value‑add path in a suburban Corpus Christi submarket where household growth and an expanding renter‑occupied share within 3 miles point to a larger tenant base over the next several years. Neighborhood rent‑to‑income levels appear manageable, which supports lease retention while leaving room for measured renovation‑driven rent premiums. According to CRE market data from WDSuite, neighborhood occupancy has softened, so the strategy emphasizes competitive renovations, disciplined leasing, and operational blocking and tackling rather than aggressive pro forma assumptions.
The asset’s 1970s vintage implies capital planning around interiors and aging systems; executed well, upgrades can position the property ahead of older local stock. Amenity convenience is anchored by grocery access rather than lifestyle retail, suggesting demand is driven by practicality and commute needs—factors that tend to support stable occupancy when pricing remains aligned with local incomes.
- Renter pool expansion within 3 miles supports demand and occupancy stability
- Value‑add upside: 1973 vintage with potential interior and systems upgrades
- Favorable rent‑to‑income context aids retention and pricing discipline
- Grocery‑anchored convenience suits workforce renters; focus on practical amenities
- Risks: below‑median neighborhood safety and softer occupancy require conservative underwriting and proactive operations