| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 79th | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 Woodward St, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1985 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
121 Woodward St Austin Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep for this inner-suburb address, according to WDSuite’s CRE market data, supporting stable tenancy and consistent leasing performance.
Positioned in Austin’s Inner Suburb fabric, the immediate neighborhood scores A- overall and is competitive among Austin-Round Rock-Georgetown neighborhoods (94 out of 527). Retail and daily-needs access are a clear strength, with dense clusters of grocery options, cafes, and restaurants that bolster livability and help with resident retention.
Occupancy at the neighborhood level is in the top quartile nationally and above the metro median, reinforcing a favorable baseline for stabilized operations and leasing. The renter-occupied share is notably high, indicating a deep tenant pool and reliable demand for multifamily units. Average household size in the area is on the smaller side, which tends to support absorption of studios and one-bedrooms.
Within a 3-mile radius, recent trends show modest population growth alongside a pronounced increase in households and rising incomes, with forecasts pointing to further household gains through 2028. This combination expands the effective renter base and supports occupancy stability and pricing power over time.
The property’s 1985 vintage is newer than the neighborhood’s average building year (1977), providing relative competitiveness versus older stock while still warranting selective capital planning for aging systems or modernization to meet current renter expectations.
Amenity balance is mixed: strong food-and-beverage access contrasts with limited nearby parks and pharmacies. For investors, this suggests solid day-to-day convenience with some gaps in open-space and health-service proximity that may matter for certain renter cohorts.
Safety conditions in the neighborhood trend below the national median and are below the metro average compared with other Austin-area neighborhoods (crime rank 397 out of 527), so risk management and on-site security measures may be prudent. That said, recent data indicate slight year-over-year decreases in both violent and property offense rates, suggesting gradual improvement rather than deterioration.
For investors, the practical takeaway is to underwrite with conservative assumptions, emphasize lighting and access controls, and align marketing with the area’s strong convenience amenities to support tenant retention.
Nearby corporate nodes help anchor employment and support renter demand with short commutes, including Oracle Waterfront, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola.
- Oracle Waterfront — technology offices (2.5 miles)
- Whole Foods Market — corporate offices (2.9 miles) — HQ
- State Farm Insurance — insurance (7.2 miles)
- New York Life — insurance (8.9 miles)
- Coca-Cola — consumer beverages offices (10.6 miles)
121 Woodward St aligns with core Austin fundamentals: high neighborhood occupancy, a deep renter base, and strong daily amenities that support lease-up and retention. Based on CRE market data from WDSuite, occupancy trends are above the metro median and in the top quartile nationally for the neighborhood, indicating resilient demand that can underpin stable cash flows through cycles.
Constructed in 1985, the asset is newer than the local average and can compete well against older stock if common areas and systems are kept current. Within a 3-mile radius, households have expanded and are projected to continue growing through 2028, pointing to an enlarging tenant base. Area-level rent-to-income conditions appear manageable, supporting renewal potential, while neighborhood NOI per-unit performance ranks strong nationally, signaling healthy revenue capacity for comparable assets. Key risks include below-median safety positioning and limited nearby parks/pharmacies, which call for thoughtful asset management and amenity programming.
- Strong neighborhood occupancy and deep renter pool support leasing stability
- 1985 vintage offers competitive positioning versus older stock with targeted upgrades
- 3-mile household growth and income gains expand the tenant base and pricing power
- Neighborhood NOI per-unit trends are strong relative to national peers
- Risks: below-median safety metrics and limited parks/pharmacies require proactive management