| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2728 Rio Grande St, Austin, TX, 78705, US |
| Region / Metro | Austin |
| Year of Construction | 2007 |
| Units | 32 |
| Transaction Date | 2005-08-25 |
| Transaction Price | $2,250,000 |
| Buyer | CWS WEST CAMPUS LP |
| Seller | ALORI PROPERTIES 2728 RIO GRANDE LTD |
2728 Rio Grande St Austin Multifamily Investment
Urban Core location with strong renter concentration and amenity density suggests resilient leasing fundamentals, according to WDSuites CRE market data. This commercial real estate analysis points to stable demand drivers with balanced attention to safety and affordability management.
Situated in Austins Urban Core, the neighborhood rates B+ and is competitive among 527 Austin-Round Rock-Georgetown neighborhoods (ranked 141 of 527). Amenities are a clear strength: restaurants and grocery access score in the upper national percentiles, with abundant parks and cafes nearby. For investors, this density supports leasing velocity and day-to-day convenience that helps retention.
Schools in the area benchmark strongly, with the average school rating in the top tier nationally. Housing quality metrics are also top quartile nationally, reinforcing the submarkets ability to attract demand even as new supply cycles through the metro.
The neighborhoods renter-occupied share is high, indicating a deep tenant base for multifamily. Neighborhood occupancy has trended up over the past five years (neighborhood-level occupancy), based on CRE market data from WDSuite. Together, these signals point to durable renter demand and manageable downtime between turns when assets are well-positioned.
Within a 3-mile radius, demographic data show population growth and a meaningful increase in households, with a large 1834 cohort today and additional household gains forecast. This implies a larger tenant base and ongoing renter pool expansion, which can support occupancy stability and unit absorption across market cycles.
Home values are elevated relative to incomes at the neighborhood level, a high-cost ownership context that tends to sustain reliance on rental housing. For investors, this backdrop can support pricing power for well-located, well-managed assets while still requiring attention to rent-to-income and renewal strategy.
Safety metrics for the neighborhood trend weaker than both metro and national benchmarks. The area ranks in the lower tier among 527 Austin-Round Rock-Georgetown neighborhoods, and national percentiles indicate higher incidence levels than many U.S. neighborhoods.
Recent year-over-year estimates point to modest increases in both violent and property incidents. Investors typically underwrite with enhanced operating practices (lighting, access controls, and coordination with local resources) and calibrate marketing, security, and turnover plans accordingly.
Nearby employment anchors span grocery headquarters, enterprise software, insurance, and consumer brands, supporting a diverse renter base and convenient commutes for residents. The list below reflects key nodes most likely to influence leasing and retention in this Urban Core location.
- Whole Foods Market 1 grocery (1.6 miles) 1 HQ
- Oracle Waterfront 1 enterprise software (3.7 miles)
- New York Life 1 insurance (5.3 miles)
- Coca-Cola 1 beverage (6.1 miles)
- Adobe 1 software (7.6 miles)
Built in 2007, the property is newer than the neighborhoods average vintage, offering competitive positioning versus older stock while still warranting routine system updates and potential modernization to meet current renter preferences. The Urban Core location benefits from dense amenities and a high renter concentration at the neighborhood level, which supports leasing velocity and renewals. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, reinforcing the case for stable operations when assets are managed proactively.
Within a 3-mile radius, population growth and a sizable 1834 cohort underpin a growing renter pool, with households expanding and further gains forecast. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, supporting demand depth; operators should still monitor rent-to-income pressures and tailor renewal strategies accordingly.
- 2007 vintage confers competitive standing versus older submarket stock, with targeted upgrades for durability and renter appeal.
- Amenity-rich Urban Core location and high neighborhood renter concentration support leasing velocity and retention.
- 3-mile radius shows population and household growth, signaling renter pool expansion and demand resilience.
- Elevated ownership costs reinforce rental demand, aiding pricing power for well-positioned units.
- Risks: weaker safety metrics locally and affordability pressure for some cohorts require active management and underwriting discipline.