| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 31st | Poor |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1007 E Rundberg Ln, Austin, TX, 78753, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 112 |
| Transaction Date | 2005-06-28 |
| Transaction Price | $2,875,000 |
| Buyer | SPANISH PALMS LLC |
| Seller | DUKE CAPITAL MANAGEMENT REAL ESTATE FUND |
1007 E Rundberg Ln, Austin TX Multifamily Investment
Neighborhood data point to durable renter demand, with occupancy in the surrounding area holding in the mid-90s and a high share of renter-occupied housing supporting leasing depth, according to WDSuites CRE market data. These signals are measured for the neighborhood, not the property, and suggest stable operations for well-positioned assets.
Situated in Austins inner-suburban corridor, the area around 1007 E Rundberg Ln scores a B and ranks 245 out of 527 metro neighborhoods, placing it above the metro median for overall neighborhood performance. Amenity access is a relative strength: grocery and cafe density rank competitively within the metro and sit well above national averages, while park access is limited, indicating tenants rely more on private or nearby community amenities.
For investors focused on occupancy stability, the neighborhoods multifamily occupancy rate is 95.8% (top quartile nationally), and the renter-occupied housing share is approximately 71% both measured at the neighborhood level suggesting a deep tenant base and steady leasing velocity. Median rent levels sit near the middle of national distributions, and a rent-to-income ratio around one-quarter supports retention and day-to-day lease management.
Within a 3-mile radius, households have increased even as overall population edged down slightly in recent years, indicating smaller average household sizes and a diversified renter pool. Looking forward, 3-mile projections show growth in both population and households through 2028, which should expand the local renter base and support occupancy. Median incomes in the 3-mile radius have risen meaningfully, reinforcing the demand profile for professionally managed multifamily communities.
Home values in the neighborhood sit on the higher side versus national norms, creating a high-cost ownership market that tends to sustain rental demand and support lease retention. The assets 1972 vintage is older than the neighborhoods average construction year, which introduces capital planning needs but also presents value-add potential to enhance competitiveness against newer stock.
Safety indicators for the neighborhood trend below national averages, and the area ranks 398 out of 527 among Austin-Round Rock-Georgetown neighborhoods, placing it below the metro median. That context suggests investors should underwrite to prudent operating practices and consider measures that support resident peace of mind.
Recent trends are mixed: estimated property offenses have declined year over year, while estimated violent offenses increased. These dynamics underscore the importance of active management and collaboration with local resources to maintain leasing stability.
Nearby corporate offices provide a broad employment base that supports renter demand and commute convenience for workforce housing, including Airgas, Coca-Cola, Adobe, Arconic, and New York Life.
- Airgas industrial gases & distribution (1.7 miles)
- Coca-Cola beverage offices (3.2 miles)
- Adobe software offices (4.0 miles)
- Arconic manufacturing offices (6.1 miles) HQ
- New York Life insurance offices (6.9 miles)
This 112-unit, 1972-vintage asset in Austins inner suburb benefits from strong neighborhood fundamentals that favor multifamily demand: top-quartile neighborhood occupancy, a high concentration of renter-occupied housing units, and access to everyday amenities that tenants value. The older vintage suggests clear value-add and systems-upgrade opportunities to close the gap with newer competitive stock, while the surrounding ownership marketcharacterized by elevated home valueshelps sustain reliance on rental housing and supports retention.
Within a 3-mile radius, rising household counts and notable income gains point to a larger, more resilient tenant base over time. According to CRE market data from WDSuite, neighborhood-level occupancy remains above national norms, aligning with a leasing environment that can support steady operations when paired with disciplined capital planning and asset management.
- Top-quartile neighborhood occupancy and deep renter pool support leasing stability
- 1972 vintage offers value-add and modernization upside versus newer comps
- Elevated ownership costs in the area reinforce multifamily demand and lease retention
- 3-mile outlook shows growth in households and incomes, expanding the tenant base
- Risk: below-average safety metrics and limited parks warrant conservative underwriting and active management