| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 27th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1809 W Rundberg Ln, Austin, TX, 78758, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 72 |
| Transaction Date | 2022-09-23 |
| Transaction Price | $7,886,900 |
| Buyer | 1809 W RUNDBERG LLC |
| Seller | BERKLEY AUSTIN LLC |
1809 W Rundberg Ln Austin Multifamily Investment
High renter concentration in the surrounding neighborhood underpins consistent tenant demand, according to WDSuite’s CRE market data, while elevated ownership costs support sustained reliance on multifamily housing.
Situated in Austin’s Urban Core, the property benefits from a renter-driven neighborhood profile. The share of housing units that are renter-occupied is 76% (ranked 36 out of 527 metro neighborhoods—top decile locally), signaling a deep tenant base and steady leasing activity for multifamily owners.
Daily-needs access is a relative strength: grocery availability ranks in the top quartile nationally (87th percentile), and restaurants are also competitive (77th percentile). However, the immediate blocks show fewer parks, pharmacies, and cafes, so investors should underwrite for convenience-driven demand rather than lifestyle amenities on the doorstep.
Neighborhood occupancy is 89.7% (ranked 455 of 527), indicating leasing conditions below the metro median. That said, the broader 3-mile radius shows households have increased in recent years and are projected to keep rising through 2028, with smaller average household sizes—dynamics that expand the renter pool and can support occupancy stability over time. Median contract rents in the 3-mile radius have trended upward alongside income gains, reinforcing rent growth potential where product-quality and management execution warrant it.
Home values in this neighborhood sit on the higher side for incomes (72nd percentile nationally for values and 98th percentile for value-to-income), creating a high-cost ownership market that tends to sustain rental demand and bolster lease retention. The property’s 1984 vintage is newer than the neighborhood’s average build year (1977), positioning it competitively versus older housing stock while still leaving room for targeted system upgrades and value-add renovations to meet current tenant preferences.
Safety indicators are mixed and should be evaluated carefully. The neighborhood’s overall crime positioning ranks 323 out of 527 Austin metro neighborhoods (below the metro median), and national comparisons place it below average for safety (34th percentile). That said, recent trends are improving: both violent and property offense rates have declined year over year, which may reflect stabilizing conditions and provide a constructive backdrop for professional on-site management.
For underwriting, investors may consider measures that support resident confidence—lighting, access control, and community partnerships—while tracking trend continuity rather than relying on block-level assumptions. This comparative framing helps align risk management with observed metro and national patterns.
Proximity to established employers supports workforce housing demand and commute convenience for residents, including Coca-Cola, Airgas, Adobe, New York Life, and Arconic. This concentration of corporate offices helps diversify the renter base and can aid retention.
- Coca-Cola — beverages (1.12 miles)
- Airgas — industrial gases (1.77 miles)
- Adobe — software (2.15 miles)
- New York Life — insurance (5.22 miles)
- Arconic — aluminum manufacturing (6.16 miles) — HQ
This 72-unit asset at 1809 W Rundberg Ln sits within a renter-heavy Austin neighborhood, where a 76% renter-occupied share indicates meaningful depth of demand. Household counts within a 3-mile radius have grown and are projected to continue rising as average household sizes trend smaller—conditions that can expand the tenant base and support leasing. According to CRE market data from WDSuite, neighborhood occupancy is below the metro median today, but rising household incomes and upward-trending rents in the surrounding area point to potential pricing power for well-operated communities.
The 1984 vintage is newer than much of the nearby housing stock, offering a relative competitive edge versus older product while still presenting value-add opportunities through system upgrades and modernization. Elevated home values relative to incomes reinforce reliance on rentals, and proximity to a diversified employer base supports retention. Key risks include below-median neighborhood occupancy, affordability pressure (higher rent-to-income ratios locally), and safety metrics that, while improving, remain below national averages.
- Renter-heavy neighborhood (76% renter-occupied) supports depth of tenant demand
- 3-mile radius shows household growth and smaller household sizes, expanding the renter pool
- 1984 vintage competitive versus older stock, with targeted value-add and systems upgrades
- High-cost ownership context supports lease retention and pricing power for quality operations
- Risks: below-metro neighborhood occupancy, affordability pressure, and safety metrics below national averages despite recent improvement