| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2408 Manor Rd, Austin, TX, 78722, US |
| Region / Metro | Austin |
| Year of Construction | 1985 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2408 Manor Rd, Austin TX Multifamily Value-Add
Neighborhood occupancy is high and renter demand is deep, according to WDSuite’s CRE market data, positioning this 49-unit asset for stable leasing with potential to enhance yields through targeted upgrades.
The property sits in an Inner Suburb pocket of Austin ranked in the top quartile among 527 metro neighborhoods, per WDSuite. Neighborhood occupancy is strong and measured for the neighborhood (not the property), with a high share of renter-occupied housing units that supports a larger tenant base and steadier leasing.
Local amenity access is mixed: restaurants and groceries are competitive versus both metro and national peers, while cafes and parks are thinner inside the neighborhood boundary. Childcare density tests well above most Austin areas, which can aid retention for households that prioritize proximity to services.
Home values are elevated for the metro, and the value-to-income profile indicates a high-cost ownership market. That backdrop tends to reinforce reliance on multifamily rentals, supporting pricing power and lease-up durability. Median asking rents in the neighborhood trend in the upper tiers for Austin and have risen meaningfully over five years, while rent-to-income sits near roughly one-quarter—useful context for lease management and renewal strategies.
Within a 3-mile radius, demographics show recent population growth, a notable increase in households, and a renter concentration above 60%, all of which point to ongoing renter pool expansion and demand for rental units. Educational attainment is high for the area, and average school ratings in the immediate neighborhood are lower, a contrast investors should note when positioning unit mixes and amenities. These dynamics, taken together and grounded in commercial real estate analysis from WDSuite, suggest durable demand with selective submarket competition.
Safety indicators for the immediate neighborhood are mixed relative to Austin and the nation. The area ranks below the metro median (374 out of 527) and sits in lower national percentiles for safety, indicating a less safe profile than many neighborhoods nationwide.
Trend-wise, estimated property offense rates declined year over year, while estimated violent offense rates increased over the same period. Investors should calibrate underwriting and operations—security line items, lighting, access control, and resident engagement—accordingly, and monitor trajectory as part of ongoing risk management.
Proximity to major employers supports weekday demand and commute convenience for renters, with a nearby cluster that includes Whole Foods Market, Oracle Waterfront, Coca-Cola, Airgas, and New York Life.
- Whole Foods Market — grocery HQ & corporate (2.3 miles) — HQ
- Oracle Waterfront — enterprise software offices (2.9 miles)
- Coca-Cola — beverages offices (6.7 miles)
- Airgas — industrial gases offices (6.8 miles)
- New York Life — insurance offices (6.9 miles)
Built in 1985, the asset is slightly older than the neighborhood average vintage, creating a credible path for value-add or systems modernization to sharpen competitive positioning. Neighborhood metrics—high occupancy, elevated renter-occupied share, and upper-tier rents—point to depth of demand and potential for stable cash flow, based on CRE market data from WDSuite.
Within a 3-mile radius, population growth and a faster increase in households suggest a larger tenant base ahead, while Austin’s high-cost ownership landscape supports continued renter reliance on multifamily housing. Operators should weigh localized safety trends and uneven school quality when planning unit finishes, amenity mix, and operating reserves.
- Strong neighborhood occupancy and high renter concentration support leasing stability.
- 1985 vintage offers value-add and capital planning opportunities to boost NOI.
- High-cost ownership market reinforces demand for rental housing and pricing power.
- 3-mile demographics indicate renter pool expansion, aiding absorption and renewals.
- Risks: below-metro safety ranking and lower school ratings may require targeted operations and amenity strategy.