| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 45th | Fair |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 690 N Pioneer Dr, Abilene, TX, 79603, US |
| Region / Metro | Abilene |
| Year of Construction | 1975 |
| Units | 31 |
| Transaction Date | 2008-01-18 |
| Transaction Price | $2,203,100 |
| Buyer | HENRY JOHN LLC |
| Seller | ABILENE ELM CREST LP |
690 N Pioneer Dr Abilene Multifamily Opportunity
Steady neighborhood occupancy and renter depth support a 31-unit asset in Abilene’s inner-suburban fabric, according to WDSuite’s CRE market data. Pricing power appears measured, with affordability helping retention and lease stability.
This inner-suburban Abilene neighborhood ranks 10 out of 67 metro neighborhoods (top quartile nationally) on overall quality, indicating competitive fundamentals for workforce-oriented multifamily. Neighborhood occupancy has trended higher over five years, and rent-to-income levels suggest room for sustainable renewals rather than aggressive hikes.
Amenity access is a local strength: restaurant and grocery density place the area competitive among Abilene neighborhoods (ranks 3 and 6 out of 67), with parks and pharmacies also above the metro median. Childcare options are comparatively thin (rank 67 of 67), which can influence unit mix appeal for family households. School rating data are not available for this area and should be validated during diligence.
The housing stock skews slightly older than the metro average (1975 construction vs. a 1972 neighborhood norm), signaling routine capital planning and potential value‑add through targeted interior and systems upgrades to stay competitive against newer stock. The neighborhood’s renter-occupied share is above the national median (72nd percentile), a positive indicator for depth of the tenant base and demand stability.
Demographics aggregated within a 3‑mile radius show households expanding over the last five years with a projected increase in both households and incomes by 2028, even as average household size trends smaller. These shifts typically support a larger tenant base and absorption of mid-size units, aligning with investor takeaways from multifamily property research.
Safety benchmarks are mixed but improving. The neighborhood sits above the metro median on crime safety (rank 29 of 67; 63rd percentile nationally), while violent‑offense comparisons are less favorable (28th percentile nationally). Recent year‑over‑year estimates indicate meaningful declines in both property and violent offenses, placing the neighborhood’s improvement metrics in the upper national percentiles. Investors should consider trend persistence and property‑level measures during underwriting.
Built in 1975, this 31‑unit asset offers potential value‑add through targeted updates while benefiting from a renter‑oriented neighborhood that ranks in the metro’s top quartile. Neighborhood occupancy has risen over the past five years and rent burdens remain manageable, supporting retention and steady cash flow. Homeownership remains relatively more accessible in this part of Abilene, which can temper peak rent growth but also reinforces demand for well‑positioned rentals. Based on CRE market data from WDSuite, amenity access is a comparative strength (restaurants, groceries, parks, pharmacies), offset by thinner childcare options that may influence unit‑mix strategy.
Within a 3‑mile radius, households have increased and are projected to expand further by 2028 alongside income gains, while smaller average household sizes point to a broader renter pool over time. These dynamics, coupled with measured affordability, argue for durable leasing and selective upgrades to protect competitiveness versus newer product.
- Neighborhood fundamentals: top‑quartile metro rank with improving occupancy supports stable demand
- Value‑add angle: 1975 vintage allows targeted renovations to lift rents and retention
- Amenity access: strong restaurant and grocery density aids leasing and renewal rates
- Demand outlook: 3‑mile household growth and rising incomes expand the renter base
- Key risk: relatively accessible ownership can cap pricing power; focus on quality and operations