| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2222 Rio Grande St, Austin, TX, 78705, US |
| Region / Metro | Austin |
| Year of Construction | 2007 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2222 Rio Grande St Austin Multifamily Investment
Neighborhood indicators point to deep renter demand and amenity density supporting lease-up and retention, according to WDSuite’s CRE market data. Note: occupancy and renter metrics reflect the surrounding neighborhood, not this specific property.
This Urban Core location in Austin balances livability with investor-friendly fundamentals. Amenity access is a clear strength: restaurant density sits in the 99th percentile nationally and grocery access in the 98th percentile, supporting daily convenience and renter appeal. The neighborhoods overall amenity profile performs in the top quartile among 527 metro neighborhoods, and average school ratings are among the metros leaders (ranked 1st of 527), which can bolster long-term neighborhood desirability.
The propertys 2007 vintage is newer than the surrounding areas average construction year (1983). That positioning typically offers competitive curb appeal versus older stock and may translate to a more predictable capital plan, though selective system updates or modernization could still create value or support repositioning.
Renter-occupied housing accounts for a high share of units in the neighborhood (a top-decile renter concentration by metro ranking), indicating a sizable tenant base and steady multifamily demand. Neighborhood occupancy has improved over the past five years, supporting income durability, while the B+ neighborhood rating (ranked 141 of 527) is competitive among Austin-Round Rock-Georgetown neighborhoods.
Within a 3-mile radius, demographics show population growth alongside faster household formation and a shift toward smaller household sizes. Median household income has trended higher, and median contract rent in this 3-mile area sits around mid-to-upper tier levels with additional growth forecast, which can support pricing power. Elevated home values relative to incomes in the neighborhood (high national percentile for value-to-income) indicate a high-cost ownership market that tends to sustain reliance on rental housing, aiding tenant retention and occupancy stability.
Safety metrics for the surrounding neighborhood trend below national medians, with national percentiles indicating higher rates of both property and violent offenses relative to many U.S. neighborhoods. One-year changes also point to recent increases. Investors should underwrite with conservative assumptions for security measures and operating practices, and compare trends to nearby Austin submarkets to contextualize risk and expected tenant expectations.
Proximity to a diverse employment base supports demand for workforce and professional renters, with convenient commutes to these nearby offices.
- Whole Foods Market corporate offices (1.2 miles) HQ
- Oracle Waterfront corporate offices (3.3 miles)
- New York Life insurance offices (5.7 miles)
- Coca-Cola beverage offices (6.5 miles)
- Airgas industrial gases offices (7.3 miles)
2222 Rio Grande St offers investors a 2007-vintage, 100-unit asset in Austins Urban Core with strong neighborhood demand drivers. The areas renter concentration is high, amenity density is exceptional, and household growth within a 3-mile radius expands the prospective tenant base, supporting occupancy stability. Elevated ownership costs nearby further reinforce reliance on rental housing, while neighborhood occupancy has trended higher over five years, consistent with positive leasing fundamentals. Based on commercial real estate analysis from WDSuite, the neighborhoods NOI per unit performance ranks among the strongest nationally, signaling a supportive revenue environment relative to many U.S. neighborhoods.
Key considerations include below-median national safety metrics and pockets of affordability pressure relative to local incomes in the immediate neighborhood, which warrant attentive lease management and operating discipline. Still, proximity to major employers and newer-than-average construction provide a competitive position versus older stock.
- Newer 2007 construction versus area average, with potential for targeted upgrades to enhance competitiveness
- High renter-occupied share and strong amenity access support tenant demand and retention
- 3-mile demographics show population and household growth that expand the renter pool
- Neighborhood NOI per unit ranks among top performers nationally, per WDSuites CRE market data
- Risks: below-median national safety metrics and affordability pressures call for prudent operations and underwriting