| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2616 Salado St, Austin, TX, 78705, US |
| Region / Metro | Austin |
| Year of Construction | 2005 |
| Units | 62 |
| Transaction Date | 2007-02-01 |
| Transaction Price | $19,500,000 |
| Buyer | Campus Acquisitions, LLC |
| Seller | Texan West Campus, LTD |
2616 Salado St Austin Multifamily Investment
The neighborhood shows a very high share of renter-occupied housing, supporting a deep tenant base, while the property’s 2005 vintage offers competitive appeal versus older stock, according to WDSuite’s CRE market data. Expect leasing supported by strong local amenities, with pricing set thoughtfully to manage rent-to-income pressure at the neighborhood level.
Located in Austin’s Urban Core (neighborhood rating: B+), the area around 2616 Salado St benefits from a renter-driven housing landscape and amenity density that supports multifamily operations. Housing quality metrics are competitive among 527 Austin metro neighborhoods (housing rank 95 of 527), and neighborhood-level NOI per unit trends are among the metro’s leaders (rank 5 of 527), signaling historically strong revenue support at the neighborhood level.
Amenity access is a clear strength: restaurants and cafés are competitive among Austin neighborhoods (restaurant rank 7 of 527; café rank 19 of 527) and groceries also score competitively (grocery rank 11 of 527). Park access is above the metro median (rank 48 of 527). Nationally, these amenity counts sit in the upper percentiles, reinforcing convenience that can aid retention and leasing velocity.
Education signals are favorable at the neighborhood level, with average school ratings ranking first among 527 metro neighborhoods and at the top percentile nationwide. While school quality alone does not drive multifamily performance, top-tier ratings typically support broader location fundamentals and household stability.
Tenure mix points to demand depth: renter-occupied share is very high in this neighborhood (99th percentile nationally), which generally supports a stable tenant pipeline for multifamily. Neighborhood occupancy has improved over the past five years, though current levels trail stronger Austin subareas; owners should emphasize leasing execution and renewal management. Elevated home values relative to neighborhood incomes (value-to-income ratio in the 99th percentile nationally) indicate a high-cost ownership market, which tends to sustain rental demand, but neighborhood rent-to-income ratios suggest affordability pressure that warrants careful lease management.
Within a 3-mile radius, demographic statistics show population and household growth over the past five years with further increases projected by 2028. Rising household incomes in this radius, alongside continued household expansion, point to a larger tenant base that supports occupancy stability and potential rent persistence for well-positioned assets.
Safety trends at the neighborhood level are a consideration. Compared with other Austin neighborhoods, the area ranks in the lower tier for crime (crime rank 441 of 527), indicating higher reported incidents than many parts of the metro. Nationally, the neighborhood sits below average on safety percentiles.
Recent year estimates indicate a modest uptick in both property and violent offenses. Investors should underwrite with prudent operating assumptions—such as security, lighting, and resident engagement—while noting that safety conditions can vary block to block and often change over time.
Proximity to established employers supports commuter convenience and helps deepen the renter pool, with nearby roles spanning grocery headquarters, enterprise software, and major corporate offices. The list below reflects key employment nodes that can contribute to leasing stability for workforce and professional tenants.
- Whole Foods Market — grocery HQ & offices (1.6 miles) — HQ
- Oracle Waterfront — enterprise software offices (3.7 miles)
- New York Life — insurance offices (5.4 miles)
- Coca-Cola — beverage corporate offices (6.2 miles)
- Airgas — industrial gases offices (7.0 miles)
2616 Salado St is a 62-unit, 2005-vintage asset in Austin’s Urban Core. The property’s newer construction relative to the neighborhood’s older average stock positions it competitively, while large average unit sizes support livability. Neighborhood fundamentals are investor-friendly: high renter concentration (99th percentile nationally) and top-tier amenity access underpin a durable tenant base, and neighborhood NOI per unit performance ranks near the top of the metro. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years, though it remains below stronger subareas—making active leasing management important.
Macro context is supportive: within a 3-mile radius, both population and households have grown and are projected to continue rising, expanding the renter pool. Elevated ownership costs at the neighborhood level tend to sustain multifamily demand, but high rent-to-income ratios and below-average safety percentiles introduce retention and operating considerations that should be addressed through pricing discipline and on-site improvements.
- 2005 vintage and larger average unit sizes enhance competitiveness versus older neighborhood stock
- Deep renter base (very high renter-occupied share) supports leasing and renewals
- Strong neighborhood amenity access and top-ranked school ratings reinforce location fundamentals
- Neighborhood NOI per unit trends rank among metro leaders, signaling revenue support potential
- Risks: below-metro safety percentiles, affordability pressure, and softer neighborhood occupancy require proactive leasing and expense controls