| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2515 Manor Rd, Austin, TX, 78722, US |
| Region / Metro | Austin |
| Year of Construction | 1985 |
| Units | 41 |
| Transaction Date | 2018-09-24 |
| Transaction Price | $4,163,800 |
| Buyer | F & B 2515 MANOR RD LLC |
| Seller | COLAVINCENZO NORMAN |
2515 Manor Rd Austin Multifamily Investment
Neighborhood occupancy is elevated and renter demand is deep in this Inner Suburb pocket, according to WDSuites CRE market data. Stability at the neighborhood level supports consistent operations while allowing for targeted value-add at the asset.
The property sits in an Inner Suburb neighborhood ranked in the top quartile among 527 Austin neighborhoods, with strengths that matter for multifamily: high neighborhood occupancy and a sizable renter base. The renter-occupied share sits high for the metro, indicating depth of tenant demand and support for leasing stability. Median contract rents in the neighborhood have risen over the past five years, and sit above many national peers, reinforcing pricing power when paired with strong occupancy.
Local daily needs are well-covered by grocery and restaurant density that is competitive among Austin neighborhoods, while immediate park, pharmacy, and cafe options are more limited. Average school ratings trend below national norms; investors should weigh this in positioning and tenant mix assumptions. In terms of ownership costs, elevated home values and a high value-to-income ratio indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can aid lease retention.
Demographic statistics aggregated within a 3-mile radius show population growth in recent years, a notable increase in households, and a forecast for additional household gains by 2028. Household sizes are trending smaller, which expands the renter pool and supports occupancy stability for smaller unit mixes. These dynamics align with ongoing multifamily property research patterns seen in similar infill Austin locations.
The assets 1985 vintage is slightly older than the neighborhoods average building era. For investors, this can translate into actionable value-add through unit and system modernization, while still competing effectively given the neighborhoods occupancy backdrop and renter concentration.
Safety indicators for the neighborhood are below both national and Austin-area averages, with crime ranks placing the area in the lower tiers compared to 527 metro neighborhoods. National percentiles indicate the neighborhood compares weaker on safety than many areas nationwide.
Trends are mixed: property offenses have decreased year over year, while violent offenses show a recent uptick, based on CRE market data from WDSuite. Investors commonly address this by calibrating security measures, lighting, and resident engagement, and by underwriting retention and insurance assumptions conservatively.
Proximity to major employment nodes supports a steady renter pipeline and short commutes for workforce and professional tenants. Key nearby employers include Whole Foods Market, Oracle, Coca-Cola, Airgas, and New York Life.
- Whole Foods Market grocery HQ offices (2.41 miles) HQ
- Oracle Waterfront technology campus (2.87 miles)
- Coca-Cola beverage offices (6.67 miles)
- Airgas industrial gases offices (6.80 miles)
- New York Life insurance offices (6.95 miles)
2515 Manor Rd offers an infill Austin location with neighborhood-level fundamentals that favor durable occupancy: high renter concentration, elevated neighborhood occupancy, and demand buoyed by strong grocery and restaurant access. Elevated ownership costs in the area further support renter reliance on multifamily housing, aiding pricing power and lease retention.
Built in 1985, the asset presents value-add potential through targeted renovations and system updates. Nearby employment hubs expand the tenant base, and demographic trends within a 3-mile radius point to continued renter pool expansion via household growth. According to WDSuites commercial real estate analysis, these factors compare favorably with broader metro patterns for occupancy stability, while calling for prudent underwriting on safety and operating expenses.
- Infill location with high neighborhood occupancy supporting stable leasing
- Deep renter-occupied share indicates demand depth and larger tenant base
- 1985 vintage offers actionable value-add via unit and system modernization
- Strong proximity to major employers broadens demand and supports retention
- Risks: below-average safety metrics and softer school ratings; underwrite security/expenses conservatively