| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 53rd | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2109 State Highway 351, Abilene, TX, 79601, US |
| Region / Metro | Abilene |
| Year of Construction | 2013 |
| Units | 84 |
| Transaction Date | 2012-12-19 |
| Transaction Price | $3,750,000 |
| Buyer | LA VENTANA APARTMENTS LLC |
| Seller | MUSGRAVE KENNETH PAUL |
2109 State Highway 351, Abilene TX Multifamily Investment
Positioned in a suburban B+ neighborhood with rising occupancy, this 2013-built asset benefits from stable renter demand and a young renter pool, according to WDSuite’s CRE market data.
The immediate neighborhood carries a B+ rating and ranks 19th out of 67 Abilene neighborhoods, which is competitive among Abilene neighborhoods. Newer construction is common locally, and a 2013 vintage positions this property newer than the neighborhood average 2001 stock, supporting competitive positioning versus older assets while still allowing for targeted modernization planning.
Demand indicators are constructive: neighborhood occupancy is 93.7% and has trended higher over the past five years, suggesting durable leasing. Within a 3-mile radius, demographics skew younger (notably a large 18–34 cohort) with recent population growth and a projected increase in households over the next five years, pointing to a larger tenant base and support for occupancy stability.
Tenure dynamics are favorable for multifamily: within a 3-mile radius, approximately six in ten housing units are renter-occupied, indicating a deep renter base that can aid leasing velocity and renewal capture. Median contract rents have increased over the last five years at the neighborhood level, while a rent-to-income ratio around 0.20 indicates manageable affordability and supports retention and pricing discipline. For investors conducting multifamily property research, these signals align with steady demand rather than short-term spikes.
Amenity density is limited (few cafes, parks, and pharmacies within the neighborhood and modest grocery and restaurant counts), which implies a more car-oriented living pattern. However, this suburban format often coexists with steady renter demand when employment and access are sufficient, and it can reduce direct competition from high-amenity luxury stock.
Safety trends are mixed but improving. The neighborhood’s crime rank is 10 out of 67 in the Abilene metro (lower rank indicates higher crime), placing it relatively higher-risk locally. At the same time, the neighborhood sits in the 73rd percentile for safety nationally, indicating it compares favorably to many U.S. neighborhoods.
Recent momentum is notably positive: estimated property and violent offense rates both declined by roughly half year over year, placing these improvements in the upper tiers nationally. For investors, this trend can support leasing confidence and tenant retention, while continued monitoring versus metro peers remains prudent.
Built in 2013 with 84 units averaging about 1,030 square feet, the property is newer than the neighborhood’s 2001 average, offering competitive appeal versus older stock with potential for selective upgrades. Neighborhood occupancy is strong and rising, and within a 3-mile radius the renter pool is sizeable and projected to expand alongside household growth—factors that support demand depth, renewal capture, and steady lease-up. Home values in the area are moderate relative to incomes, which can temper move-out to ownership and reinforce renter reliance on multifamily housing.
According to commercial real estate analysis from WDSuite, neighborhood-level rents and occupancy have trended upward while rent-to-income remains manageable, framing a case for stable operations rather than aggressive volatility. Amenity density is limited and crime ranks higher within the metro, but recent safety improvements and a young demographic profile help balance risk with durable demand drivers.
- 2013 vintage newer than local average, competitive versus older Abilene stock with targeted upgrade potential
- Neighborhood occupancy near mid-90s and trending up, supporting leasing stability
- Large 3-mile renter-occupied share and young cohort underpin a broad tenant base
- Ownership costs moderate relative to incomes, aiding retention and pricing discipline
- Risks: lower amenity density and higher metro-relative crime rank warrant ongoing monitoring