| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 75th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 214 Barton Springs Rd, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 2013 |
| Units | 64 |
| Transaction Date | 2016-04-27 |
| Transaction Price | $75,000,000 |
| Buyer | CATHERINE TOWER LLC |
| Seller | SLR RESIDENTIAL AT BARTON SPRINGS LLC |
214 Barton Springs Rd Austin Multifamily Investment
High-cost home values and a deep renter-occupied housing base signal durable apartment demand in this inner Austin location, according to WDSuite’s CRE market data. Newer 2013 construction positions the asset competitively versus older neighborhood stock while leaving room for targeted modernization.
Situated in an Inner Suburb setting near Downtown Austin, the neighborhood posts an A rating and ranks 34th among 527 metro neighborhoods, indicating performance that is competitive among Austin peers. Restaurants and parks are standouts, each in the top tier nationally, supporting day-to-day livability and leasing appeal for professionals seeking walkable amenities.
The area skews heavily renter-occupied at the neighborhood level, reinforcing depth of tenant demand for multifamily. Median home values sit at the high end locally, which sustains reliance on rentals and can support pricing power for well-positioned assets. Median contract rents are elevated but, with a rent-to-income ratio measured at the neighborhood level that remains moderate, landlords can focus on retention rather than excessive concessions.
Within a 3-mile radius, population and household counts have increased over the past five years and are projected to continue rising, pointing to a larger tenant base and ongoing renter pool expansion. Household sizes are trending smaller, which typically supports demand for multifamily units near jobs and amenities. According to CRE market data from WDSuite, neighborhood NOI per unit ranks in the top quintile nationally, reflecting strong revenue potential relative to operating footprints.
Vintage matters: 2013 construction is significantly newer than the neighborhood’s average 1982 stock, offering competitive finishes and systems. Investors should still plan for periodic updates to maintain differentiation as the asset seasons. Notably, pharmacy access is thinner than other amenities nearby; conversely, parks, cafes, and restaurants are abundant, contributing to resident satisfaction and leasing velocity.
Safety indicators at the neighborhood level trend below national and metro averages, with violent and property offense rates in lower national percentiles, signaling elevated incident rates relative to many U.S. neighborhoods. Within the Austin metro, the neighborhood’s crime rank is in the lower half (419th among 527), so underwriting should reflect prudent security, lighting, and access-control measures.
Trends are mixed: recent data show property offense rates improving modestly year over year, while violent offense rates ticked up. For investors, this calls for conservative assumptions on insurance and operating protocols, as well as continued engagement with proven onsite management practices.
Proximity to major employers supports workforce housing demand and occupancy stability, with a concentration in grocery headquarters, enterprise software, and insurance operations reflected below.
- Whole Foods Market — grocery HQ and corporate (0.8 miles) — HQ
- Oracle Waterfront — enterprise software (2.0 miles)
- New York Life — insurance (7.2 miles)
- Coca-Cola — beverage corporate offices (8.4 miles)
- State Farm Insurance — insurance (8.7 miles)
This 2013-vintage, 64-unit property benefits from an Inner Suburb location with top-tier amenity access and a renter-leaning housing base that supports steady multifamily absorption. Elevated neighborhood home values and a moderate rent-to-income profile suggest the asset can prioritize lease retention over heavy concessions, while newer construction offers competitive positioning versus older 1980s stock. According to CRE market data from WDSuite, neighborhood NOI per unit trends in the top quintile nationally, reinforcing the revenue opportunity for well-managed assets.
Key considerations include neighborhood safety metrics that trail broader benchmarks and school ratings that are weaker, which should be reflected in insurance, staffing, and marketing strategies. Still, household and population growth within a 3-mile radius, combined with strong access to employers and amenities, underpin a durable long-term demand thesis.
- 2013 construction competes well against older local stock, with targeted updates enabling ongoing differentiation
- High ownership costs and strong renter concentration support a deep tenant base and pricing power
- 3-mile growth in households and continued expansion outlook bolster occupancy stability and lease-up confidence
- Risk: neighborhood safety ranks below metro averages; underwrite for security, insurance, and active onsite management