| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 53rd | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2701 Nonesuch Rd, Abilene, TX, 79606, US |
| Region / Metro | Abilene |
| Year of Construction | 1978 |
| Units | 120 |
| Transaction Date | 2025-05-20 |
| Transaction Price | $31,175,200 |
| Buyer | SEDONA 168 LLC |
| Seller | CAPX VENTURES FUND I LLC |
2701 Nonesuch Rd, Abilene TX Multifamily Investment
Neighborhood occupancy has trended higher with a sizable renter-occupied share, indicating a stable tenant base; according to WDSuite’s CRE market data, this inner-suburb location combines steady renter demand with room for value-add execution.
The property sits in an Inner Suburb neighborhood rated A and ranked 7th among 67 metro neighborhoods, placing it in the top quartile locally. Neighborhood occupancy is in the mid-to-high range and has improved over the last five years, pointing to steadier leasing conditions relative to several Abilene peers. Renter-occupied housing accounts for a large share of units (ranked 3rd of 67), which supports depth of the tenant base and ongoing multifamily demand.
Livability is balanced by access to daily needs and dining. Restaurant and café density rank competitively within the metro, while grocery access is above the metro median. However, immediate park and pharmacy presence rates at the low end locally, which may temper convenience for some residents and is worth factoring into retention strategies.
The neighborhood’s average construction year skews newer (2007 on average; top quartile in the metro), while this asset was built in 1978. For investors, the older vintage suggests capital planning for systems, exterior/interior refresh, and common-area upgrades that could create differentiation against newer stock.
Within a 3-mile radius, population and household counts have grown in recent years, with projections calling for further increases by 2028. A rising household base and modest household sizes translate into a broader renter pool, supporting occupancy stability and consistent leasing velocity. Median contract rents in the neighborhood remain manageable relative to local incomes and have seen multi‑year growth, balancing pricing power with retention.
Neighborhood safety trends compare favorably in a national context, with overall conditions around the upper half nationwide (crime safety sits near the 61st national percentile). Within the metro, the area is competitive rather than top-ranked. Recent year-over-year estimates indicate meaningful declines in both violent and property offenses, with reductions on the order of roughly half, signaling improving conditions that can reinforce renter confidence over time.
This 1978, 120‑unit asset benefits from a renter-heavy neighborhood profile, improving occupancy trends, and household growth within a 3‑mile radius that expands the tenant base. Neighborhood rents remain manageable relative to incomes (low rent-to-income share), supporting retention while allowing for measured rent optimization through targeted upgrades.
The older vintage versus a metro base that skews newer creates a straightforward value‑add case: modernization and operational improvements can enhance competitiveness against 2000s-era stock. According to CRE market data from WDSuite, the neighborhood sits in the metro’s top quartile overall, with food and grocery access that supports day‑to‑day convenience, even as limited park/pharmacy proximity and below-average school ratings suggest the asset may appeal more to workforce renters than to families prioritizing schools.
- Renter-occupied concentration ranks near the top of the metro, supporting durable multifamily demand and a broad tenant base.
- Occupancy has improved over five years in the neighborhood, aiding leasing stability and cash flow consistency.
- 1978 vintage offers clear value‑add levers (unit and systems updates) to compete with newer local stock.
- Manageable rent-to-income dynamics support retention while allowing disciplined rent growth tied to upgrades.
- Risks: older building capex, limited nearby parks/pharmacies, and weaker school ratings that may narrow family-driven demand.