| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 47th | Good |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3309 Sherry Ln, Abilene, TX, 79603, US |
| Region / Metro | Abilene |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3309 Sherry Ln Abilene Multifamily Value-Add Potential
Neighborhood occupancy is 95%, indicating stable renter demand, according to WDSuite’s CRE market data. The location’s fundamentals support consistent leasing while an older 1973 vintage points to selective renovation upside.
Located in Abilene’s inner-suburban fabric, the property benefits from a renter-driven neighborhood profile and steady operations. The neighborhood’s occupancy ranks 11th out of 67 metro neighborhoods, placing it in the top quartile locally and above many U.S. neighborhoods (71st percentile), which supports near-term leasing stability and mitigates downtime risk for a 100-unit asset.
Approximately 54.1% of housing units in the neighborhood are renter-occupied, indicating a meaningful renter concentration and a deeper tenant base for multifamily. Median contract rents in the neighborhood sit in the lower half of national markets, and five-year rent growth has been positive, suggesting achievable pricing without materially overreaching affordability.
Construction year averages indicate the area skews late-1970s overall (1979). With a 1973 vintage, this asset is older than nearby stock, which may necessitate targeted capital planning (systems, exteriors, and common areas) while also creating value-add potential to outperform older comps on renovation.
Local retail and services within the immediate neighborhood are limited (amenities rank 35th of 67; cafés, groceries, parks, and pharmacies register low densities), so residents likely rely on nearby corridors for daily needs. For investors, this places emphasis on on-site features and management-driven retention programs to sustain demand and reduce turn costs.
Within a 3-mile radius, demographics show a broadly stable population over the past five years with a slight dip, while households were steady and are projected to increase, pointing to a gradual renter pool expansion over the next cycle. Rising household incomes in the 3-mile area and a forecast for additional households support the case for measured rent growth and occupancy stability, contingent on maintaining affordability and product quality.
Home values in the neighborhood remain lower relative to national markets (17th percentile), which can introduce some competition from ownership options. Even so, elevated ownership costs at the metro level and positive household income trends suggest multifamily remains a practical option for many residents, supporting retention and steady absorption.
Safety indicators have improved recently. The neighborhood’s overall crime standing is competitive among Abilene neighborhoods (ranked 23rd out of 67), and recent year-over-year trends show notable declines in both violent and property incidents. Nationally, the area aligns around mid-to-above-average safety benchmarks (roughly 40th percentile for violent offenses and 56th percentile for property offenses), with broader crime measures near the 68th percentile. These comparative positions point to improving local conditions without implying block-level guarantees.
For investors, the directional improvement reduces perceived risk and can aid leasing and retention, particularly when combined with good lighting, access control, and resident engagement practices typical of professionally managed multifamily.
This 100-unit, 1973-vintage asset combines stable neighborhood occupancy with clear value-add levers. Based on CRE market data from WDSuite, the surrounding neighborhood sits in the top quartile locally for occupancy, supporting day-one leasing stability. The building’s older vintage versus late-1970s neighborhood stock creates a pathway for targeted renovations to enhance competitiveness and push effective rents while prioritizing systems and curb appeal.
Within a 3-mile radius, households are projected to increase and incomes have been rising, which should expand the renter pool and support rent growth, provided affordability remains in focus. Local amenity density is limited, so on-site features and strong property management will be key to retention. Ownership costs remain relatively accessible compared with national pricing, which can introduce competition from for-sale options, but steady renter concentration and improving safety trends position the asset for resilient performance with prudent execution.
- Occupancy advantage: neighborhood ranks top quartile among 67 metro neighborhoods, supporting leasing stability.
- Value-add path: 1973 vintage allows targeted renovations to improve rent and retention versus older comps.
- Demand outlook: 3-mile households projected to grow, reinforcing a larger tenant base over time.
- Affordability management: maintain pricing discipline to mitigate rent-to-income pressure and sustain retention.
- Risk: lower amenity density and more accessible ownership options require strong on-site features and management to preserve occupancy.