| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 88th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1113 Banister Ln, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 66 |
| Transaction Date | 1994-10-11 |
| Transaction Price | $1,737,500 |
| Buyer | TPI 94 3 LTD |
| Seller | SAAD LILY |
1113 Banister Ln Austin Multifamily — 1983 Value-Add
Strong renter demand and a high-cost ownership landscape in the surrounding neighborhood support leasing depth, according to WDSuite’s CRE market data.
Positioned in Austin’s Urban Core, the neighborhood ranks in the top quartile among 527 Austin metro neighborhoods, signaling durable location fundamentals and steady renter interest. Neighborhood occupancy is below the national midpoint, but rents benchmark above national norms, suggesting demand is supported by location and incomes rather than concessions.
Livability drivers are diverse: grocery and pharmacy access are strong (both around the 90th percentile nationally), and park access is similarly high. Childcare density is a standout strength (top percentile nationally), while café concentration is relatively light — a modest amenity gap to consider for walkability-oriented renters.
The area shows a high share of renter-occupied housing, indicating a deep tenant base for multifamily. Within a 3-mile radius, household counts have risen with smaller average household sizes and higher incomes over recent years, expanding the renter pool and supporting lease-up and retention. These dynamics align with Austin’s broader growth story and help explain why neighborhood rents sit above national averages.
Home values in the neighborhood are elevated relative to most U.S. areas, creating a high-cost ownership market that tends to sustain reliance on multifamily housing. For investors, this backdrop can support pricing power and renewal capture, though close-in competition requires attention to positioning and amenities.
Safety indicators for this neighborhood track below national averages, and the area ranks weaker on crime relative to many Austin neighborhoods (based on WDSuite’s validated metrics). Recent trends are mixed: reported property offenses have moved lower year over year, while violent offense estimates have increased. These figures describe neighborhood conditions, not this specific property, and should be weighed alongside visibility, lighting, access control, and on-site management practices.
Investors may want to underwrite modest security and site-activation measures and monitor submarket trendlines over time, comparing them with broader Austin performance to calibrate risk.
Nearby employers span tech, retail headquarters, and financial services, supporting a diversified renter base with short commutes. The list below highlights key demand anchors most relevant to retention and leasing.
- Whole Foods Market — retail HQ (3.2 miles) — HQ
- Oracle Waterfront — technology offices (3.5 miles)
- State Farm Insurance — insurance (6.3 miles)
- New York Life — insurance (8.7 miles)
- Coca-Cola — consumer goods offices (10.8 miles)
1113 Banister Ln offers Urban Core positioning with a renter-heavy neighborhood and elevated ownership costs that reinforce multifamily demand. According to CRE market data from WDSuite, neighborhood rents sit above national norms even as occupancy levels trail midline, indicating demand supported by incomes and location quality. The 3-mile trade area shows more households and smaller household sizes over time, which can translate into a larger tenant base and support for occupancy stability.
Built in 1983, the asset is modestly older than the area’s average vintage, suggesting practical value-add potential through interior modernization and system upgrades to remain competitive versus newer stock. Given strong amenity access and proximity to diversified employers, thoughtful capital planning and targeted unit and common-area enhancements can help capture renewals and maintain pricing power.
- Urban Core location with renter depth and elevated ownership costs that sustain multifamily demand
- Neighborhood rents above national norms support revenue potential with careful positioning
- 1983 vintage provides value-add and modernization upside to compete with newer supply
- Diversified nearby employers underpin leasing and retention through commute convenience
- Key risks: below-midpoint neighborhood safety metrics and softer occupancy, requiring active asset management