| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 16th | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 365 Shelbyville St, Center, TX, 75935, US |
| Region / Metro | Center |
| Year of Construction | 2010 |
| Units | 39 |
| Transaction Date | 2019-06-28 |
| Transaction Price | $1,523,400 |
| Buyer | SHELBY VILLE APARTMENTS LLC |
| Seller | SHELBY ENERGY LODGE LLC |
365 Shelbyville St, Center TX Multifamily Investment
Renter concentration in the neighborhood is strong, supporting a deeper tenant base and potential lease-up stability, according to WDSuites CRE market data. Newer construction relative to local stock positions the asset competitively for workforce demand.
The property sits in a suburban area of Center, Texas with an A- neighborhood rating (ranked 4th among 17 local neighborhoods). With construction year 2010 versus a neighborhood average of 1989, the asset is newer than much of the surrounding stock, which typically improves competitive positioning while still warranting ongoing systems maintenance and modernization planning.
Neighborhood renter-occupied share is 41.8% (ranked 1st of 17 and in the top quartile nationally), indicating a sizable tenant base for multifamily demand. Current neighborhood occupancy is 80.2%, suggesting near-term leasing headroom and the need for disciplined operations to support stabilization.
Everyday amenities are present at modest levels: grocery and restaurant access are comparable to many small Texas markets, and park access ranks competitively within the local set. However, limited childcare and pharmacy presence indicates residents may travel farther for certain services. Average school ratings in the neighborhood trend below national norms, which can influence unit mix strategy and retention planning.
Within a 3-mile radius, demographic patterns should be evaluated for population growth and household shifts to size the tenant base. In a high renter-share context and a high-cost ownership market absent here, lower home values locally may create more competition from ownership options; investors should account for this in pricing power and renewal strategy based on multifamily property research from WDSuite.
Neighborhood-level safety metrics are limited for this area in WDSuites dataset. Investors typically compare multi-year trends against Shelby County and statewide benchmarks to assess directionality and relative position, rather than relying on single-year snapshots. A prudent approach is to review police-reported trends, property management incident logs, and insurer loss runs to contextualize risk at the submarket level.
Employer proximity details for this address are not available in WDSuite at this time. Investors may wish to map regional healthcare, education, manufacturing, and public-sector nodes to understand commute patterns and potential leasing demand.
This 39-unit asset9built in 2010is newer than the neighborhoods average vintage, which can support leasing competitiveness versus older product while leaving room for targeted value-add or systems upgrades over the hold. The surrounding neighborhood shows a high renter-occupied share, reinforcing depth of the tenant base. According to CRE market data from WDSuite, neighborhood occupancy at 80.2% indicates operational upside if management tightens leasing and renewals.
Local ownership costs are relatively accessible, which may temper pricing power and necessitate careful rent positioning and amenity programming. Amenity access is adequate for daily needs, though below-average school ratings and limited certain services suggest focusing on workforce-oriented demand and retention tactics.
- 2010 vintage offers competitive positioning versus older neighborhood stock with selective modernization potential.
- High renter-occupied share supports a deeper tenant base and leasing resilience.
- Neighborhood occupancy at 80.2% suggests value creation via leasing execution and retention management.
- Ownership alternatives are relatively accessible locallyrequiring disciplined rent positioning and service differentiation.
- Risks: below-average school ratings, limited childcare/pharmacy access, and potential competition from ownership options.