| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 85th | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2207 S 5th St, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1973 |
| Units | 64 |
| Transaction Date | 2009-04-24 |
| Transaction Price | $3,233,800 |
| Buyer | PASTURES APARTMENTS LP |
| Seller | AUSTIN DUPLEXES LTD |
2207 S 5th St Austin Multifamily Investment in 78704
Positioned in a high-demand 78704 inner-suburb pocket, the asset benefits from a deep renter base and elevated ownership costs that help sustain leasing power, according to CRE market data from WDSuite. Neighborhood occupancy trends are steady, supporting income durability for well-managed units.
This Inner Suburb location in Austin balances lifestyle amenities with established housing stock and income depth (neighborhood rating: A). Grocery access and parks are standouts, with neighborhood measures placing near the top of the metro and well above many areas nationally, while restaurants are dense enough to support renter convenience. Dedicated pharmacies and cafes are less concentrated within the immediate neighborhood footprint, so residents typically rely on nearby corridors for those needs.
The property was built in 1973, slightly older than the area’s average construction year. For investors, this often points to capital planning for systems and interiors alongside potential value-add renovation upside to improve competitive positioning versus newer stock.
Neighborhood housing dynamics indicate meaningful multifamily demand: about 43% of housing units are renter-occupied in the immediate neighborhood, and within a 3-mile radius renters account for a larger share of occupied units. This renter concentration broadens the tenant base and can support occupancy stability when paired with professional management.
Demographic indicators within a 3-mile radius show population growth over the last five years and an increase in households, with a sizable working-age cohort. Forward-looking projections call for further household expansion and rising incomes, suggesting a larger tenant base and support for rent levels over time, based on CRE market data from WDSuite.
Home values in the neighborhood are elevated relative to incomes (value-to-income ratios among the highest nationally) and median values are well above most U.S. neighborhoods. This high-cost ownership market tends to reinforce reliance on rental housing, which can aid lease retention and pricing power for well-located properties. Neighborhood rent-to-income levels indicate manageable affordability pressure, helping reduce turnover risk.
Safety indicators benchmark below national averages for similar neighborhoods, with both property and violent offense rates tracking in lower national percentiles. That said, recent data shows a notable one-year decline in estimated property offenses, an improving trend worth monitoring as part of ongoing asset management, based on WDSuite’s CRE market data.
Compared with Austin-Round Rock-Georgetown neighborhoods (527 total), the area does not sit in the top quartile for safety; investors should factor enhanced security measures and resident engagement into underwriting. Trendlines and neighborhood context are important, so aligning operating practices with local norms can help support tenant retention and reputation.
Proximity to established employers underpins weekday demand and commute convenience for renters, including Whole Foods Market (HQ), Oracle Waterfront, State Farm Insurance, New York Life, and Coca-Cola. This employment base supports leasing stability and broadens the prospect pool for workforce and professional tenants.
- Whole Foods Market — corporate offices (1.9 miles) — HQ
- Oracle Waterfront — corporate offices (2.6 miles)
- State Farm Insurance — insurance (7.4 miles)
- New York Life — insurance (7.8 miles)
- Coca-Cola — corporate offices (9.6 miles)
2207 S 5th St offers exposure to Austin’s 78704 with strong neighborhood fundamentals that favor multifamily rentals. Elevated home values and a deep professional renter pool support pricing power and lease retention, while steady neighborhood occupancy provides a base for income durability. According to CRE market data from WDSuite, neighborhood NOI per unit ranks among the top decile nationally, signaling healthy operating potential for comparable assets.
The 1973 vintage is older than nearby stock, pointing to targeted capex and value-add opportunities to enhance finishes, systems, and curb appeal. Within a 3-mile radius, population and household growth alongside rising incomes indicate continued renter pool expansion. Balancing these strengths, investors should underwrite for security measures and modernization to remain competitive against newer inventory.
- High-cost ownership market reinforces rental demand and supports pricing power
- Neighborhood NOI per unit in top decile nationally, per WDSuite data
- 1973 vintage offers value-add potential through targeted renovations and systems upgrades
- Household and income growth within 3 miles expands the tenant base over time
- Risk: safety metrics trail national averages; plan for security and resident engagement