| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 65th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2347 Douglas St, Austin, TX, 78741, US |
| Region / Metro | Austin |
| Year of Construction | 1999 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2347 Douglas St Austin Multifamily Value-Add Potential
Deep renter demand and a high-cost ownership backdrop, according to WDSuite’s CRE market data, support durable leasing fundamentals even as neighborhood occupancy has been softer than much of the Austin metro.
The property sits in an Inner Suburb of Austin with a renter-occupied housing concentration that ranks 30 out of 527 metro neighborhoods and places in the 99th percentile nationally. For multifamily investors, that depth of renter households signals a sizable tenant base and supports leasing velocity and renewals.
Everyday convenience is competitive: cafes per square mile are in the upper national percentiles (87th) and grocery access also trends above average (72nd), while parks and pharmacies are comparatively limited within the neighborhood. These dynamics point to solid lifestyle amenities for renters, with some gaps that operators may offset via on-site offerings.
Built in 1999, the asset is newer than the neighborhood’s average construction year of 1984. That positioning can enhance competitiveness versus older stock, though investors should plan for normal system refreshes and select modernization to meet current renter expectations.
Within a 3-mile radius, demographics show a growing household base and smaller average household sizes over time, which expands the pool of potential renters and can support occupancy stability. Although the recent population trend was modestly negative, forecasts point to renewed population growth and further increases in households by 2028, reinforcing demand for rental units.
Home values are elevated for the area (nationally high percentiles), and the value-to-income ratio sits near the top of national comparisons. In investor terms, this high-cost ownership market tends to reinforce reliance on multifamily housing and can support pricing power, while the neighborhood’s rent-to-income metrics suggest some affordability pressure that warrants attentive lease management.
Neighborhood safety compares weaker than national norms at present, with crime metrics placing below the national median. Relative to the Austin metro, the neighborhood’s crime rank is 342 out of 527, indicating safety is a consideration for underwriting and on-site operations.
Recent trend data is directionally constructive: estimated violent and property offenses have declined year over year, suggesting conditions may be improving. Investors should still underwrite to current neighborhood dynamics and weigh security measures and community engagement as part of asset management.
Proximity to major corporate offices underpins workforce housing demand and commute convenience for renters, including Oracle, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola.
- Oracle Waterfront — corporate offices (1.2 miles)
- Whole Foods Market — corporate offices (3.2 miles) — HQ
- State Farm Insurance — corporate offices (8.9 miles)
- New York Life — corporate offices (9.6 miles)
- Coca-Cola — corporate offices (10.5 miles)
This 96-unit, 1999-vintage asset benefits from a deep renter pool in an Inner Suburb location where renter-occupied housing ranks near the top of the Austin metro and in the highest national percentiles. Elevated home values and a high value-to-income ratio reinforce reliance on rental housing, while nearby employment nodes provide steady tenant demand. According to CRE market data from WDSuite, neighborhood occupancy has softened relative to the metro, positioning the asset for operational upside through focused leasing, renewals, and selective upgrades.
Forward-looking demographics aggregated within a 3-mile radius point to population growth, a meaningful increase in households, and shrinking household sizes through 2028 — dynamics that expand the renter base and can support occupancy stability. Given its newer-than-neighborhood vintage, the property should remain competitive with targeted modernization and amenity improvements, while prudent underwriting should account for affordability pressure and local safety considerations.
- High renter concentration supports demand depth and leasing durability
- 1999 vintage offers relative competitiveness with value-add potential
- Strong employer proximity (Oracle, Whole Foods Market) aids retention
- Demographic outlook (3-mile radius) indicates renter pool expansion
- Risks: softer neighborhood occupancy, affordability pressure, and safety require active management