| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 85th | Best |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2201 W William Cannon Dr, Austin, TX, 78745, US |
| Region / Metro | Austin |
| Year of Construction | 1979 |
| Units | 72 |
| Transaction Date | 2017-05-10 |
| Transaction Price | $6,250,000 |
| Buyer | Southland Apartments LLC |
| Seller | Bedder Management Austin LLC |
2201 W William Cannon Dr Austin Multifamily Investment
Neighborhood occupancy runs above the Austin metro median, pointing to income stability for well-managed assets, according to WDSuite’s CRE market data.
Positioned in Austin’s Inner Suburb, the neighborhood carrying an A- rating ranks 83 out of 527 metro neighborhoods, placing it in the top quartile locally. For investors, that combination of established housing and mature retail corridors supports day-to-day convenience and leasing durability without the volatility seen in fast-turnover urban cores.
Amenity access is balanced: restaurants and grocery/pharmacy options are present at levels that compare favorably within the metro, while cafes and parks are thinner. That mix aligns with workforce- and family-serving demand profiles and can help sustain everyday livability even if it doesn’t signal a destination lifestyle node.
The neighborhood’s occupancy rate sits in the upper percentiles nationally (roughly top decile) and above the Austin metro median, indicating a deep renter pool and reduced downtime risk. Within the neighborhood itself, about 31.8% of housing units are renter-occupied, suggesting a stable base of long-term households; within a 3-mile radius, approximately 55% of units are renter-occupied, reinforcing depth for multifamily demand and supporting renewal rates and lease-up velocity.
Home values in the area are elevated relative to many U.S. neighborhoods, which tends to sustain reliance on rental housing and supports pricing power when operations are tight. Median contract rents in the neighborhood trend on the higher side for Austin, but rent-to-income levels remain manageable, aiding retention. Construction in this submarket skews newer than 1997 on average; by comparison, a 1979 vintage asset can compete through targeted renovations and systems modernization that unlock value-add upside and extend useful life.
Demographic statistics within a 3-mile radius show households have grown while overall population edged slightly lower, pointing to smaller average household sizes and a larger number of housing decision-makers — a dynamic that typically expands the prospective renter base and supports occupancy stability. Income growth in the same radius has been robust, which can underpin collections performance and measured rent growth over time.
Safety indicators are mixed when viewed against national and metro benchmarks. The neighborhood’s overall crime positioning is competitive among Austin-Round Rock-Georgetown neighborhoods (ranked 198 out of 527), though national comparisons place it below the median for safety. For investors, this suggests local familiarity and management presence can help mitigate perception risks relative to broader U.S. benchmarks.
Recent trends are constructive: estimated violent incidents declined meaningfully year over year, and property offenses also trended down, according to WDSuite’s CRE market data. While conditions can vary block to block, the directional improvement supports leasing narratives focused on stability and professional on-site operations.
Proximity to diversified employers supports renter demand and commute convenience, notably insurance, grocery headquarters, and technology/corporate offices highlighted below.
- State Farm Insurance — insurance (4.0 miles)
- Whole Foods Market — corporate offices (5.7 miles) — HQ
- Oracle Waterfront — technology/corporate offices (5.9 miles)
- New York Life — insurance (10.4 miles)
- Coca-Cola — beverage corporate offices (13.1 miles)
This 72-unit, 1979-vintage asset sits within an Inner Suburb neighborhood that ranks in the top quartile among 527 Austin metro neighborhoods and benefits from strong occupancy that outperforms the metro median. Elevated area home values and a sizable renter-occupied share within a 3-mile radius point to durable multifamily demand, while manageable rent-to-income levels support retention and steady collections. Based on CRE market data from WDSuite, neighborhood occupancy trends are in the upper percentiles nationally, reinforcing a case for income stability.
The 1979 construction introduces value-add potential through unit and systems upgrades to compete against a submarket where the average build year is newer. Household counts have been expanding within 3 miles even as average household size declines, effectively widening the tenant base and supporting lease-up and renewal performance over time.
- Occupancy above the metro median with nationally strong positioning supports stable cash flow.
- Elevated ownership costs in the area reinforce reliance on rental housing and pricing power.
- 1979 vintage offers value-add and systems modernization opportunities to enhance competitiveness.
- Diverse nearby employers underpin renter demand and commute convenience.
- Risks: older physical plant requiring capital planning; amenity gaps (parks/cafes) and safety metrics below national median may require focused management and positioning.