| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 30th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 306 W Rundberg Ln, Austin, TX, 78753, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 120 |
| Transaction Date | 2018-12-21 |
| Transaction Price | $13,560,000 |
| Buyer | Northchase Owner LLC |
| Seller | PRB Equity 15A LLC |
306 W Rundberg Ln Austin Multifamily Investment
Neighborhood renter demand appears durable, with occupancy in the low 90s at the neighborhood level and a high share of renter-occupied units, according to WDSuite’s CRE market data. For investors, this points to steady leasing fundamentals with room to optimize operations as the submarket evolves.
Located in Austin’s inner suburbs, the neighborhood surrounding 306 W Rundberg Ln carries a C+ rating and ranks 328 out of 527 metro neighborhoods, placing it below the metro median. For multifamily investors, the area’s profile suggests dependable baseline demand rather than premium positioning, with a tenant base that leans strongly renter-occupied — supportive of leasing depth and renewal activity at the neighborhood level.
Amenities skew practical: grocery and pharmacy access are top quartile nationally, while restaurant density is also strong. Cafes and park space are limited by comparison. Average school ratings trend below national norms, which can influence unit mix and pricing strategy toward value-oriented offerings and workforce housing appeal rather than premium family-centric positioning.
Neighborhood occupancy runs in the low 90s, indicating generally stable absorption with moderate churn. The neighborhood’s share of renter-occupied housing units is high (top decile nationally), signaling a deep tenant pool and reinforcing multifamily demand. Median home values sit near national mid-range, but ownership costs relative to incomes are elevated compared with national norms, which tends to sustain reliance on rental housing and supports lease-up and retention for well-managed assets.
Within a 3-mile radius, household counts increased over the last five years even as total population edged slightly lower, implying smaller average household sizes and a broader household base — dynamics that typically support a larger tenant pool for apartments. Looking ahead, WDSuite’s commercial real estate analysis indicates further household growth and rising incomes in the near term, which may bolster occupancy stability and rent positioning if operators calibrate affordability and renewal strategies thoughtfully.
Relative to national benchmarks, the neighborhood scores below average for safety, with violent and property offense rates comparing weaker than many U.S. neighborhoods. That said, according to WDSuite’s data, both violent and property offense rates have declined over the past year, an encouraging directional trend to monitor when underwriting retention and insurance assumptions.
Investors should frame safety as a comparative factor across Austin submarkets and focus on practical mitigants — professional onsite management, lighting and access controls, and resident engagement — while tracking whether the recent downward trend in reported offenses persists.
The location is supported by a diversified employment base that helps anchor renter demand and commute convenience, including Airgas, Coca-Cola, Adobe, Arconic, and New York Life.
- Airgas — industrial gases (1.3 miles)
- Coca-Cola — beverage bottling (2.5 miles)
- Adobe — software (3.2 miles)
- Arconic — aluminum manufacturing (6.0 miles) — HQ
- New York Life — insurance (6.3 miles)
This 120-unit, 1983-vintage asset sits in an Austin inner-suburb neighborhood with stable, renter-driven fundamentals. The neighborhood shows occupancy in the low 90s and a top-tier share of renter-occupied housing units, supporting depth of demand and renewal potential. Elevated ownership costs relative to local incomes reinforce reliance on rentals, while practical amenity access (notably groceries, pharmacies, and restaurants) adds everyday convenience attractive to workforce tenants.
Given its earlier vintage versus nearby stock (average construction year is slightly newer), the property presents value‑add and capital planning angles — from unit interior refreshes to common-area updates — to sharpen competitiveness against newer assets. According to CRE market data from WDSuite, neighborhood-level fundamentals point to steady leasing with affordability pressure to manage, suggesting opportunity for disciplined operations and targeted upgrades rather than speculative growth assumptions.
- Renter-driven submarket with high neighborhood renter-occupied share supporting demand depth
- Stable neighborhood occupancy in the low 90s underpins baseline leasing and renewals
- 1983 vintage offers value‑add potential to compete with slightly newer nearby stock
- Everyday amenity access (groceries, pharmacies, restaurants) supports workforce appeal
- Risk: below-average safety and rent-to-income pressures require attentive management, underwriting discipline, and resident retention focus