| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 82nd | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 Burton Dr, Austin, TX, 78741, US |
| Region / Metro | Austin |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2121 Burton Dr Austin Multifamily Investment, 40 Units
Neighborhood occupancy is in the low 90s with a deep renter base, supporting demand consistency according to WDSuite’s CRE market data. Positioned in Austin’s Urban Core, the property benefits from amenity density and renter-occupied housing concentration that favor leasing stability.
Austin’s Urban Core location places the property within a top quartile neighborhood among 527 metro neighborhoods, with strong day-to-day convenience. Grocery and dining density rank competitively within the metro and test in the upper national percentiles, while pharmacies are readily accessible. Park and formal childcare access are limited locally, so investors should weigh amenity strengths in food and retail against fewer greenspace and childcare options.
The neighborhood’s housing stock skews renter-occupied, with a high share of units classified as renter-occupied, indicating a deep tenant base for multifamily leasing. Occupancy for the neighborhood trends in the low 90s and has improved over the past five years, a constructive signal for cash flow durability based on CRE market data from WDSuite. Median contract rents sit above many national peers, yet the rent-to-income ratio reads near one quarter, which can support retention and measured pricing power.
Within a 3-mile radius, households have expanded in recent years and are projected to grow further, pointing to a larger tenant pool over the medium term. Income levels have risen and educational attainment is high relative to national benchmarks, which can underpin Class B tenant demand and renewal prospects. Elevated home values for the area compared with incomes suggest that ownership costs can sustain reliance on multifamily housing, supporting occupancy stability.
The asset’s 1973 vintage is slightly older than the neighborhood average construction year, creating clear value-add pathways via interior updates and building system upgrades. Investors should plan for targeted capital expenditures to maintain competitive positioning against newer stock while leveraging the neighborhood’s amenity access and renter concentration.
Safety outcomes in this neighborhood trend below metro averages and fall in the lower quartile among 527 Austin-area neighborhoods. Compared with neighborhoods nationwide, indicators align closer to the lower national percentiles. Recent year-over-year readings show declines in both violent and property offense rates, an incremental positive, though levels remain elevated versus national norms.
For underwriting, a conservative assumption set is prudent: emphasize on-site management, lighting and access controls, and consider insurance and security line items that reflect a more urban profile. Monitoring ongoing trend improvement can help calibrate retention expectations and marketing strategy without relying on block-level conclusions.
Proximity to major employers supports commute convenience and broad renter demand, anchored by technology, consumer goods, and financial services offices listed below.
- Oracle Waterfront — technology offices (1.1 miles)
- Whole Foods Market — corporate offices (2.9 miles) — HQ
- State Farm Insurance — insurance (8.8 miles)
- New York Life — insurance (9.3 miles)
- Coca-Cola — consumer beverages (10.3 miles)
This 40-unit, 1973-vintage asset in Austin’s Urban Core is supported by strong neighborhood fundamentals: high renter-occupied housing concentration, amenity-rich surroundings, and occupancy in the low 90s that has trended upward over five years. According to CRE market data from WDSuite, local rent levels and a rent-to-income profile near one quarter suggest room for disciplined revenue management while preserving renewal probability.
Within a 3-mile radius, households have grown and are projected to increase further, expanding the tenant base. Elevated ownership costs relative to incomes in the area reinforce reliance on rental housing, which can support leasing velocity and reduce downtime. The 1973 vintage provides tangible value-add levers through interior modernization and selective system upgrades, balanced against prudent underwriting for safety and limited greenspace/childcare amenities.
- Deep renter concentration and steady neighborhood occupancy support demand stability
- Amenity density (groceries, dining, cafes) enhances resident convenience and retention
- 1973 vintage offers value-add upside via renovations and targeted capex
- 3-mile household growth and higher incomes expand the tenant base and pricing resiliency
- Risks: urban safety profile and limited parks/childcare access warrant conservative OPEX and asset management