| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 83rd | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1507 Houston St, Austin, TX, 78756, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 52 |
| Transaction Date | 1997-01-07 |
| Transaction Price | $1,656,300 |
| Buyer | BAUSTIN OAK CREEK LTD |
| Seller | JACKSON GLENN K |
1507 Houston St Austin Multifamily Investment Opportunity
Stabilized renter demand and high neighborhood occupancy support durable income potential, according to WDSuite’s CRE market data. Strong amenity access and a deep renter base in Austin’s urban core position this 52-unit asset for consistent leasing.
The property sits within Austin’s Urban Core, where neighborhood fundamentals are competitive among Austin-Round Rock-Georgetown neighborhoods (rank 16 of 527) with an A+ neighborhood rating. Amenity access is a clear strength: cafes, restaurants, groceries, and pharmacies rank near the top of the metro (e.g., cafes rank 7 of 527) and track in the upper national percentiles, supporting leasing velocity and resident retention.
Occupancy in the neighborhood is high and has trended up, with levels that are above many national benchmarks (neighborhood occupancy rate is strong and improved over the last five years). The share of housing units that are renter-occupied is elevated (top national percentiles), indicating a deep tenant base and stable multifamily demand. Median contract rents in the neighborhood sit in upper national percentiles, while rent-to-income levels indicate room for disciplined pricing without overextending affordability.
Within a 3-mile radius, demographics point to a growing and diversifying renter pool: population increased in recent years and households expanded meaningfully, with forecasts calling for further gains and smaller average household sizes. These shifts typically enlarge the pool of prospective renters and support occupancy stability. Nearby schools average around 4 out of 5 (above national norms), which can help retention among residents prioritizing educational options.
Home values in the neighborhood are elevated and in high national percentiles, a high-cost ownership context that tends to reinforce reliance on rental housing and support lease retention. The property’s 1972 vintage is older than the neighborhood’s average construction year, suggesting potential value-add and capital planning opportunities to enhance competitive positioning versus newer stock. Based on multifamily property research from WDSuite, the area’s amenity depth and income profile align with sustained renter demand.
Safety trends should be considered in underwriting. The neighborhood’s crime ranking sits below the metro average (rank 379 of 527), placing it in lower national percentiles for safety. That said, recent data indicate year-over-year declines in both property and violent offenses, suggesting gradual improvement that investors may monitor as part of risk management.
For context, interpret these measures as neighborhood-level indicators rather than block-specific conditions. Comparative framing can help: relative to many Austin neighborhoods, this area reflects higher reported crime today but with signs of moderation over the past year; operators often address this through access controls, lighting, and resident engagement programs as part of standard operations.
Proximity to major employers supports weekday traffic and renter retention, with convenient access to Coca-Cola, Whole Foods Market, New York Life, Airgas, and Adobe—diversifying the employment base within typical urban-core commute ranges.
- Coca-Cola — corporate offices (3.7 miles)
- Whole Foods Market — corporate offices (4.0 miles) — HQ
- New York Life — insurance (4.2 miles)
- Airgas — industrial gases & supply (4.7 miles)
- Adobe — software (5.2 miles)
This 52-unit, 1972-vintage asset benefits from a deep renter base in Austin’s urban core, where neighborhood occupancy is high and the renter-occupied share ranks among the strongest nationally. Elevated neighborhood home values and a small average household size support durable demand for multifamily housing and can underpin lease retention. The older vintage creates clear value-add and capital planning angles to sharpen competitiveness versus newer product, while the surrounding amenity density enhances day-to-day livability—factors that typically sustain absorption and limit downtime.
According to commercial real estate analysis from WDSuite, neighborhood rent levels and occupancy trends compare favorably to national norms, with demographics within a 3-mile radius showing population and household growth today and in the forecast, expanding the prospective renter pool. Key underwriting considerations include safety perceptions and ongoing maintenance for 1970s systems, but these are counterbalanced by location fundamentals and strong employer access.
- High neighborhood occupancy and deep renter concentration support income durability
- 1972 vintage offers value-add and systems-upgrade pathways to enhance rents
- Elevated home values reinforce rental demand and retention potential
- Amenity-rich urban core location underpins leasing velocity and daily convenience
- Risks: below-metro-average safety ranking and capex for older building systems