| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 16th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Jerry Boatner Pkwy, Mount Pleasant, TX, 75455, US |
| Region / Metro | Mount Pleasant |
| Year of Construction | 2009 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
120 Jerry Boatner Pkwy Mount Pleasant Multifamily Investment
Recent neighborhood occupancy remains solid with renter demand supported by a majority renter-occupied housing base, according to WDSuite’s CRE market data. The asset’s 2009 construction positions it competitively versus older local stock for stable operations.
Neighborhood fundamentals are competitive among Mount Pleasant, TX neighborhoods (ranked 8 out of 22, B+). Occupancy in the neighborhood sits above the metro median (ranked 6 of 22) and in the mid-range nationally, suggesting steady lease-up and retention potential for well-managed assets. Renter-occupied housing represents a majority of units in this neighborhood (55.5% renter concentration; ranked 1 of 22), indicating a deep tenant base for multifamily.
The asset’s 2009 vintage is newer than the neighborhood’s average 1973 construction year, offering relative appeal versus older properties. Newer construction generally reduces near-term capital needs and can support competitive positioning, though investors should still underwrite for system updates and modernization over a standard hold.
Local amenities are modest but serviceable: cafes and childcare density rank 3 of 22 metro neighborhoods, and pharmacies and restaurants rank 4 of 22. Nationally, these amenities score around the middle of the distribution, which can support day-to-day livability even if not a destination submarket. Parks are limited within the neighborhood, so on-site recreation features may help with leasing and retention. This balance of conveniences and value positioning can appeal to workforce renters, aligning with multifamily property research use cases.
Within a 3-mile radius, WDSuite indicates households declined slightly in the last five years while population also contracted, but forecasts point to growth ahead: more households and population through the next five years, which would expand the local renter pool and support occupancy stability. Median home values are low by national comparison, and a moderate rent-to-income profile suggests manageable affordability pressure that can aid lease retention, though it may temper outsized pricing power.
Comparable neighborhood safety data were not available in this release. Investors typically benchmark reported crime trends against metro peers and long-term directionality to gauge operational risk and insurance exposure. Given the absence of specific metrics here, standard diligence—reviewing recent police reports, insurer guidance, and multi-year trend data—remains prudent.
Built in 2009, this 68-unit asset benefits from a renter-heavy neighborhood and occupancy that sits above the metro median, supporting day-one demand and lease stability. According to CRE market data from WDSuite, the neighborhood’s amenity mix is functional and the stock skews older, giving a 2009-vintage property relative competitiveness while still warranting routine system updates over time.
Within a 3-mile radius, recent softness in population and household counts contrasts with forecasts that show growth ahead, which would expand the tenant base and support steady absorption. Low regional home values and a moderate rent-to-income profile point to durable renter reliance on multifamily housing, aiding retention even if near-term pricing power remains measured.
- Occupancy above metro median with majority renter-occupied housing supports demand depth
- 2009 vintage competitive versus older neighborhood stock; plan for normal system updates
- Forecast household and population growth within 3 miles bolsters the future renter pool
- Moderate rent-to-income dynamics favor retention, though outsized rent growth may be limited
- Limited park access and middle-tier amenities place emphasis on property-level features and management