| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 44th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1712 Patton Ln, Austin, TX, 78723, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | 2006-06-19 |
| Transaction Price | $2,272,500 |
| Buyer | FOLEY PROPERTY ASSETS LLC |
| Seller | NEW COTTONWOOD LTD |
1712 Patton Ln Austin Multifamily Opportunity
Renter-occupied housing is a major share of the surrounding neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuites CRE market data. Neighborhood occupancy is above the national median, pointing to demand resilience for well-managed assets.
The property sits in Austins Urban Core with neighborhood fundamentals that favor multifamily demand. Renter-occupied units account for a high share of housing, placing the neighborhood in the top decile nationally for renter concentration a positive signal for tenant-base depth and lease-up velocity. Neighborhood occupancy trends are above the national median and have improved over the past five years, which supports income stability for stabilized assets.
Local amenities skew toward essentials: grocery access is competitive among Austin neighborhoods (measured against 527 metro neighborhoods), while restaurants are around the national middle. By contrast, cafes, parks, and pharmacies are sparse within the immediate neighborhood footprint, so residents often rely on nearby corridors for lifestyle services. For investors, that mix generally supports workforce-oriented demand while limiting direct competition from amenity-saturated micro-pockets.
On pricing, neighborhood rents sit above the national median with notable five-year growth, while the rent-to-income profile trends relatively manageable for residents. Elevated home values and a high value-to-income context indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can bolster renewal rates.
Within a 3-mile radius, demographics show population growth in recent years and a larger increase in households, with household sizes trending smaller. Looking ahead, forecasts point to further gains in households and incomes, expanding the potential renter pool and supporting occupancy and rent collections. These dynamics, based on CRE market data from WDSuite, align with steady demand for well-positioned multifamily assets in Austin.
Safety metrics indicate the neighborhood sits below the metro median among 527 Austin neighborhoods and falls in the lower third nationally. For investors, this suggests prudent security planning, lighting, and resident engagement can be relevant to retention and operating costs.
Property incidents have shown a recent year-over-year decline, a constructive trend, while violent-offense indicators remain weaker than national norms. Positioning and management focus remain key: visibility, access control, and partnership with local community resources can help sustain leasing performance despite headwinds.
Proximity to established employers supports weekday demand and commute convenience, reinforcing retention for workforce housing. Nearby corporate nodes include Airgas, Coca-Cola, Whole Foods Market, Oracle Waterfront, and Adobe.
- Airgas — industrial gases (4.2 miles)
- Coca-Cola — beverage offices (4.9 miles)
- Whole Foods Market — corporate offices (5.1 miles) — HQ
- Oracle Waterfront — technology offices (5.6 miles)
- Adobe — software offices (6.0 miles)
The investment case centers on durable renter demand, supported by a high share of renter-occupied housing and neighborhood occupancy that sits above national medians. Elevated ownership costs in the area reinforce reliance on multifamily housing, while rent-to-income levels suggest room for retention-focused pricing. Within a 3-mile radius, population growth and a faster rise in households signal a larger tenant base ahead, which can underpin leasing stability for well-managed assets, according to CRE market data from WDSuite.
Amenity access favors daily needs with strong grocery proximity, while lifestyle options such as parks and cafes are thinner in the immediate footprint. Safety indicators are below metro and national averages, so operational best practices and targeted improvements may be important to sustain occupancy and manage expenses over time.
- High renter concentration and above-median neighborhood occupancy support tenant-base depth and leasing stability.
- Elevated ownership costs sustain rental demand and can enhance renewal rates and pricing power.
- 3-mile demographics point to population and household growth, expanding the prospective renter pool.
- Strong grocery access supports daily convenience; thinner park/cafe coverage may limit direct amenity competition.
- Risk: safety metrics are below averages, requiring proactive property management to support retention and costs.