| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 87th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1131 Hollow Creek Dr, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | 1996-01-26 |
| Transaction Price | $237,500 |
| Buyer | HOWLAND JANE E |
| Seller | SMITH THOMAS CLARK |
1131 Hollow Creek Dr Austin Multifamily Opportunity
Neighborhood-level occupancy is near full and the renter-occupied share is elevated, supporting stable demand for multifamily housing according to WDSuite’s CRE market data.
Situated in Austin’s inner suburb 78704, the property benefits from a neighborhood rated A- with strong renter demand drivers. Neighborhood occupancy ranks above the metro median (88 out of 527 Austin neighborhoods) and sits in the top quartile nationally, signaling tight leasing conditions rather than property-specific performance.
Livability indicators skew favorable for working professionals. Grocery access and restaurants track above national averages, while childcare availability is a relative strength. By contrast, parks, pharmacies, and cafes are sparse within the neighborhood, which investors should factor into positioning and resident experience.
Education and human capital are supportive: average school ratings are strong for the metro and in the top quartile nationally, and the neighborhood’s share of adults with a bachelor’s degree ranks high versus U.S. neighborhoods. These attributes typically correlate with steadier income profiles and lower turnover risk.
The ownership landscape features elevated home values relative to income (top national percentiles), indicating a high-cost ownership market that tends to reinforce reliance on multifamily rentals. Neighborhood median rents trend above national medians, yet rent-to-income ratios are comparatively moderate, which can aid lease retention and reduce affordability pressure. Renter-occupied housing units account for a majority of stock and are well above national norms, implying a deeper tenant base for multifamily owners based on commercial real estate analysis from WDSuite.
Within a 3-mile radius, population and household counts have grown, with forecasts showing additional household expansion alongside smaller average household sizes. For investors, that pattern increases the pool of renters and supports occupancy stability and absorption over the medium term.
Safety indicators for the neighborhood trend below national medians, with violent and property offense rates sitting in lower national percentiles compared with U.S. neighborhoods. At the metro level, the neighborhood’s crime rank reflects a more challenging profile relative to many Austin areas (ranked 321 among 527 metro neighborhoods), though recent estimates show property offenses easing modestly year over year and violent offenses essentially flat. Investors should underwrite prudent security measures and loss assumptions while noting the incremental improvement trend.
Proximity to major employers supports a steady renter pipeline and short commute options, including Whole Foods Market, Oracle Waterfront, New York Life, State Farm Insurance, and Coca-Cola — a mix of headquarters and corporate offices that can aid leasing stability.
- Whole Foods Market — grocery (1.4 miles) — HQ
- Oracle Waterfront — technology offices (3.3 miles)
- New York Life — insurance (6.7 miles)
- State Farm Insurance — insurance (7.4 miles)
- Coca-Cola — consumer goods offices (8.7 miles)
The investment case centers on durable renter demand in Austin’s 78704 inner-suburban location. Neighborhood occupancy ranks above the metro median and in the upper national percentiles, while a majority of housing units are renter-occupied — together indicating depth of the tenant base and potential for steady renewal activity. Elevated home values relative to income underscore a high-cost ownership market, which typically sustains reliance on rental housing. According to CRE market data from WDSuite, median rents are above national medians but paired with moderate rent-to-income levels, supporting retention and pricing discipline rather than aggressive concessions.
Within a 3-mile radius, household growth and a projected increase in households — alongside smaller household sizes — point to a broader renter pool over the next cycle. Amenity access is mixed (strong groceries/childcare, fewer parks/cafes), suggesting value in targeted property improvements and lifestyle positioning to support absorption and rent growth without overextending on speculative amenities.
- Tight neighborhood occupancy and strong renter concentration support stabilized operations
- High-cost ownership market bolsters multifamily demand and renewal potential
- 3-mile radius shows expanding household counts, increasing the tenant base
- Mixed amenity coverage allows targeted upgrades to differentiate positioning
- Risks: below-median safety profile and limited nearby parks/cafes may require enhanced security and amenity strategy