| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 25th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 602 School St, Mount Pleasant, TX, 75455, US |
| Region / Metro | Mount Pleasant |
| Year of Construction | 1993 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
602 School St, Mount Pleasant TX Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with high-90s occupancy in the immediate area and strong daily-needs amenities nearby, according to WDSuite’s CRE market data.
The property sits in a suburban Mount Pleasant neighborhood rated A, ranking 2 out of 22 neighborhoods in the metro. Amenity access is a local strength: grocery, restaurant, cafe, pharmacy, and park densities all rank 1 out of 22, placing the area in the upper half to top quartile nationally for daily conveniences. This concentration of essentials supports leasing and day-to-day livability for residents.
Neighborhood occupancy is strong and improving, with the area ranked 5 of 22 and in the upper national percentiles. For investors, that typically translates into fewer downtime gaps and a deeper tenant pool. The neighborhood’s average school rating is 3.0 (ranked 5 of 22 and top quartile in the metro), which can help with retention among households prioritizing school access.
Tenure patterns indicate a meaningful renter presence. Within a 3-mile radius, approximately half of housing units are renter-occupied, suggesting a broad base of prospective tenants and stable demand for multifamily. Median contract rents in the neighborhood are comparatively accessible while the rent-to-income ratio ranks 2 of 22 (above most peers), which supports retention and collections but may temper near-term pricing power.
The property’s 1993 vintage is newer than the neighborhood’s average construction year of 1980. That positioning can offer a competitive edge versus older stock, though investors should still underwrite ongoing system updates and modernization to sustain performance. Median home values in the neighborhood are on the lower end regionally; in investor terms, a more accessible ownership market can introduce some competition with entry-level for-sale options, reinforcing the importance of unit quality, management, and amenities to sustain leasing velocity.
Demographics aggregated within a 3-mile radius show recent softness in population, while projections point to growth in households and a slight reduction in average household size over the next five years. A larger count of smaller households generally supports a broader renter pool, which can reinforce occupancy stability for well-managed, well-located assets.
Comparable neighborhood safety data were not available in this release. Investors typically evaluate safety using multiple sources and trends over time, benchmarked against nearby Mount Pleasant neighborhoods and the broader region. As with any submarket diligence, on-the-ground review and public reporting can provide additional context for leasing and retention expectations.
This 30-unit, 1993-vintage asset benefits from strong neighborhood fundamentals: top-ranked daily-needs amenities, solid neighborhood occupancy, and a balanced renter base within a 3-mile radius. Newer-than-average vintage versus the local stock can support competitive positioning with targeted updates rather than heavy rehabilitation, while comparatively accessible area rents favor retention and collections.
According to CRE market data from WDSuite, the immediate neighborhood ranks in the top tier locally for amenities and sits in the upper national percentiles for occupancy, which aligns with steady leasing conditions. Looking forward, projections for an increase in households and modestly smaller household sizes suggest gradual renter pool expansion, though investors should consider potential competition from attainable ownership and underwrite selective upgrades to sustain pricing.
- Strong neighborhood positioning: top-ranked amenities and above-median occupancy support leasing stability.
- 1993 vintage offers relative competitiveness versus older stock, with targeted modernization potential.
- Balanced renter concentration within 3 miles underpins a consistent tenant base and retention.
- Investor watchlist: recent population softness and more accessible ownership may limit near-term pricing power; focus on unit quality and management to sustain performance.