| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 51st | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 407 SW Barnard St, Glen Rose, TX, 76043, US |
| Region / Metro | Glen Rose |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | 2025-02-27 |
| Transaction Price | $2,327,500 |
| Buyer | 407 SW BARNARD STREET LLC |
| Seller | OBENOSKEY CRAIG |
407 SW Barnard St Glen Rose Multifamily — 2000 Vintage
Neighborhood occupancy of 97.1% supports steady tenancy for this 28-unit asset, according to WDSuite’s CRE market data, with a renter-occupied share that indicates a defined tenant base without overconcentration.
Positioned in Glen Rose’s inner-suburb fabric of Somervell County, the neighborhood scores a B rating and performs competitively among the county’s 6 neighborhoods on key renters’ fundamentals. Neighborhood occupancy sits at 97.1% (competitive among Somervell County neighborhoods, 6 total), and median contract rents are supported by a rent-to-income ratio around 0.14 — a profile that can help sustain lease retention while allowing disciplined rent management.
Amenity access is a relative strength. Grocery, pharmacy, parks, cafes, and restaurants all rank first among the 6 neighborhoods locally, and several sit in the top quartile nationally (e.g., grocery and pharmacy availability). This footprint supports daily convenience and can bolster leasing velocity and resident satisfaction.
Schools in the neighborhood average 4.0 out of 5 (first among 6 locally and strong nationally), which can broaden the renter pool for larger units and support stability. The area’s housing stock skews older, with an average construction year near 1970 across the neighborhood; by contrast, a 2000 vintage positions this asset ahead of much of the local inventory, enhancing competitive standing while still warranting selective modernization planning over the hold.
Within a 3-mile radius, demographics are stable: population is essentially flat while household sizes have trended higher over the past five years. For investors, that combination suggests a steady tenant base with potential for continued multifamily demand, particularly for well-managed units. Given median home values near the middle of the national distribution, ownership is comparatively accessible in this county, which means multifamily operators should emphasize product quality and management to defend against ownership alternatives — an important consideration in commercial real estate analysis.
Neighborhood-level crime benchmarks are not available in WDSuite for this specific location, so comparative safety insights to county or national norms are limited. Investors typically supplement WDSuite with local public sources and property-level history to assess trend direction and any block-level nuances.
As with any submarket where detailed crime ranks are unavailable, prudent underwriting includes reviewing recent police reports, speaking with local property managers, and comparing trends to nearby Somervell County neighborhoods to understand potential impacts on leasing and retention.
Regional employment is anchored by diversified corporate offices within commuting distance, which can support renter demand and retention through steady white- and blue-collar job bases. Notable employers include Ball Metal Beverage Packaging, Parker Hannifin, and D.R. Horton.
- Ball Metal Beverage Packaging — beverage packaging (38.8 miles)
- Parker Hannifin Corporation — industrial motion & control (42.2 miles)
- D.R. Horton — homebuilding (44.0 miles) — HQ
Built in 2000, this 28-unit property offers a newer vintage relative to the neighborhood s predominantly 1970-era housing stock, providing a competitive edge versus older assets while leaving room for targeted upgrades to systems and interiors. Neighborhood occupancy at 97.1% and a moderate renter-occupied share indicate depth without overreliance on rentals, supporting stable tenancy and disciplined pricing, per CRE market data from WDSuite.
Amenity access ranks at or near the top locally and rates well nationally, with strong grocery, pharmacy, park, cafe, and restaurant density that can aid leasing velocity. Within a 3-mile radius, demographics remain steady and household sizes have grown, reinforcing a durable tenant base. With ownership costs mid-range for the U.S., operators should emphasize product quality and resident experience to compete effectively with for-sale alternatives while maintaining occupancy resilience.
- Newer 2000 vintage versus older neighborhood stock supports competitive positioning and potential value-add.
- Neighborhood occupancy of 97.1% underpins stability and lease retention.
- Top local amenity access and solid school ratings can sustain demand and leasing velocity.
- Steady 3-mile demographics and manageable rent-to-income profile support ongoing renter demand.
- Risk: mid-range ownership costs create some competition from for-sale housing, necessitating strong operations and asset quality.