| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 69th | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2512 Durwood St, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 2003 |
| Units | 29 |
| Transaction Date | 2015-09-08 |
| Transaction Price | $2,375,000 |
| Buyer | VISTA INTIATIVES LLC |
| Seller | GILLIS PARK LLC |
2512 Durwood St Austin Multifamily Investment Thesis
Renter concentration and steady neighborhood occupancy point to a deep tenant base, according to WDSuite’s CRE market data. Positioned in South Austin’s inner-suburb fabric, the asset benefits from durable demand drivers without relying on speculative growth.
This Inner Suburb neighborhood in Austin ranks 71 out of 527 metro neighborhoods (A rating), indicating strong overall fundamentals for a 29‑unit asset. Neighborhood occupancy trends sit above national norms while tracking near the metro middle, supporting revenue stability through cycles rather than peak-dependent performance.
Local amenity access is a clear strength: grocery and pharmacy density rank among the top quartile nationally, and restaurants are also in the upper tier. Parks and cafe density are thinner in the immediate area, but daily-needs retail and services help sustain convenience that reinforces renter retention.
The share of housing units that are renter-occupied is in the top quartile among 527 Austin metro neighborhoods. For investors, that depth of renter concentration signals a broad tenant pool and typically supports consistent lease-up and renewal velocity for smaller properties.
Within a 3-mile radius, households have grown while average household size has trended smaller, pointing to more single and two-person households entering the market. Combined with elevated ownership costs in the neighborhood relative to income, this dynamic tends to sustain reliance on multifamily housing and supports occupancy durability and pricing power management for compact unit mixes.
Safety metrics benchmark below national averages, with the neighborhood positioned in a weaker cohort of the Austin metro (ranked against 527 metro neighborhoods). National percentiles indicate lower relative safety compared to many U.S. neighborhoods, so underwriters typically incorporate conservative assumptions for security, insurance, and potential loss-to-lease impacts.
Recent trend indicators show year-over-year increases in both violent and property offenses at the neighborhood level. While conditions can vary block to block, investors should plan for prudent risk controls (lighting, access management, and tenant screening) and monitor citywide enforcement and trend direction when refining pro formas.
Proximity to established corporate nodes underpins renter demand via short commutes and diversified white-collar employment. Key nearby employers include Whole Foods Market, Oracle Waterfront, State Farm Insurance, New York Life, and Coca-Cola.
- Whole Foods Market — grocery retail corporate (2.2 miles) — HQ
- Oracle Waterfront — technology offices (2.3 miles)
- State Farm Insurance — insurance (7.5 miles)
- New York Life — insurance (8.3 miles)
- Coca-Cola — beverages corporate offices (9.9 miles)
The property’s South Austin location benefits from a renter-heavy neighborhood profile and amenity access that supports lease retention. Neighborhood occupancy sits above national norms and, based on commercial real estate analysis from WDSuite, demand is reinforced by elevated ownership costs that keep a wide segment of households in the rental market.
Within a 3-mile radius, household counts are expanding even as average household size declines, which typically favors smaller floor plans like this asset’s compact mix. The 29‑unit scale offers boutique operating flexibility; investors should balance this with typical small-asset considerations such as operational redundancy and expense variability.
- Renter-occupied share is top quartile in the metro, indicating a deep tenant base and steady leasing velocity.
- Amenity strength in groceries, pharmacies, and restaurants supports daily convenience and retention.
- Household growth with smaller household sizes within 3 miles aligns with demand for compact units.
- Elevated ownership costs relative to incomes sustain reliance on multifamily, supporting occupancy and pricing power management.
- Risks: below-average safety metrics and small-asset operational variability warrant conservative underwriting and asset management controls.