| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 21st | Poor |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Pulliam St, San Angelo, TX, 76905, US |
| Region / Metro | San Angelo |
| Year of Construction | 1975 |
| Units | 23 |
| Transaction Date | 2005-10-19 |
| Transaction Price | $460,000 |
| Buyer | KEYSOR THOMAS L |
| Seller | CHANDLER TAMARA S |
1901 Pulliam St, San Angelo Multifamily Investment
Neighborhood fundamentals point to steady renter demand and manageable rent-to-income levels, according to WDSuite’s CRE market data. For investors, this asset’s scale and location suggest durable leasing potential with room to optimize operations.
The surrounding neighborhood is rated C and sits below the metro median overall (rank 27 of 36), yet it offers practical conveniences that support daily living. Grocery access is a relative strength (rank 9 of 36; mid-pack nationally), while parks and pharmacies are limited locally. Average school ratings in the neighborhood are low compared with areas nationwide, which may influence tenant mix and leasing strategies.
Renter concentration in the neighborhood is competitive among San Angelo neighborhoods (rank 9 of 36), supporting a viable tenant base for a 23-unit property. Neighborhood occupancy trends are below the metro median (rank 27 of 36), so disciplined leasing and resident retention programs matter more to sustain performance. Median rent levels in the broader area sit in the lower national percentiles, which can aid lease-up stability but may cap near-term pricing power.
The average construction year in the neighborhood is 1969. Built in 1975, the property is somewhat newer than the local average, offering a modest competitive edge versus older stock while still benefiting from targeted modernization to enhance curb appeal and operational efficiency.
Demographic indicators aggregated within a 3-mile radius show modest population growth recently, a notable increase in households, and a smaller average household size. Looking forward, forecasts point to additional population growth and continued household expansion, which together imply a larger tenant base and support for occupancy stability. Household incomes have risen materially over the last five years, and projected gains alongside forecast rent growth suggest scope for measured rent increases with attention to affordability.
Ownership costs in the immediate area are comparatively accessible by national standards, which can create some competition with entry-level ownership. At the same time, the neighborhood’s rent-to-income ratio sits in a manageable range, helping support lease retention and steady collections when paired with thoughtful renewal strategies.
Relative to the San Angelo metro, the neighborhood’s safety profile trends below average (crime rank 30 of 36). In national terms, it sits below mid-range percentiles, signaling that investors should budget for standard security measures and resident communication around safety.
Recent directionality is constructive: estimated violent offense rates have declined year over year, placing the neighborhood in a stronger improvement tier nationally. While this is not a guarantee of future conditions, it indicates a favorable trend investors can monitor as part of ongoing risk assessment.
This 23-unit, 1975-vintage asset offers workable scale in a neighborhood with a competitive renter concentration and convenient daily amenities. While the submarket’s overall ranking is below the metro median, grocery access and a broad renter pool support consistent leasing. Based on CRE market data from WDSuite, rent levels and rent-to-income dynamics are manageable locally, underscoring retention potential with disciplined renewal management.
Vintage relative to the area (1975 vs. neighborhood average 1969) suggests a modest edge versus older product, with clear opportunity for targeted value-add to improve unit efficiency and common areas. Within a 3-mile radius, recent and forecast increases in households point to a larger tenant base, which can help sustain occupancy and cash flow through cycles, provided operations emphasize affordability and service quality.
- Competitive renter concentration locally supports depth of tenant demand.
- Manageable rent-to-income dynamics bolster renewal and collections potential.
- 1975 vintage offers value-add and modernization upside versus older neighborhood stock.
- Household growth within 3 miles expands the renter pool, aiding occupancy stability.
- Risks: below-metro safety ranking, limited parks/pharmacies, and pricing power constrained by lower-cost homeownership.