| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 81st | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3506 Menchaca Rd, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 104 |
| Transaction Date | 2010-12-29 |
| Transaction Price | $4,925,000 |
| Buyer | 3506 Manchaca LP |
| Seller | WRG Heritage LLC |
3506 Menchaca Rd Austin Multifamily Investment
Neighborhood fundamentals point to a deep renter base and stable occupancy, according to WDSuite’s CRE market data. For investors, 78704’s renter concentration and amenity access support demand resilience at the submarket level.
This Urban Core location in Austin ranks 60 out of 527 metro neighborhoods overall, placing it in the top quartile locally for investment fundamentals based on WDSuite’s analysis. Amenity access is a notable strength: cafes and restaurants are dense (both competitive among Austin neighborhoods), with cafes ranking 5 of 527 and grocery options also strong, which supports day-to-day convenience for residents and reduces friction in leasing.
Education indicators are a relative differentiator: the neighborhood’s average school rating ranks 1 of 527 in the metro (top quartile nationally), a positive signal for family-oriented renters and longer lease tenures. However, park and childcare availability rank at the bottom of the metro set, which may temper appeal for some household segments and should be considered in positioning and amenity programming.
Renter-occupied housing comprises a large share of neighborhood units (about 85% renter concentration), indicating a broad tenant base and stronger depth of demand for multifamily. Neighborhood occupancy is around 93%, above the national median, which supports underwriting for stabilized operations while acknowledging competitive supply dynamics in Austin.
Within a 3-mile radius, households have increased meaningfully over the past five years and are projected to expand further, even as average household size trends smaller. This points to a larger pool of renters and ongoing demand for smaller-format units, supporting occupancy stability. Median household incomes have trended up, and home values remain elevated relative to incomes locally; in practice, this high-cost ownership market tends to sustain reliance on rentals, reinforcing tenant retention and pricing power where unit-level value is clear.
Safety benchmarks are mixed. The neighborhood sits below the metro median on crime rank (443 out of 527), and national comparisons place it in lower safety percentiles overall. Property offense measures have eased modestly year over year, while violent offense indicators have moved higher, according to WDSuite. Investors should underwrite with prudent security planning and emphasize on-site measures and design that support resident confidence.
Proximity to major employers supports commuter convenience and leasing stability, particularly for renter segments tied to technology, retail headquarters, and insurance. The nearby base includes Whole Foods Market, Oracle Waterfront, State Farm Insurance, New York Life, and Coca-Cola.
- Whole Foods Market — grocery retail HQ (2.9 miles) — HQ
- Oracle Waterfront — software (3.7 miles)
- State Farm Insurance — insurance (6.1 miles)
- New York Life — insurance (8.1 miles)
- Coca-Cola — beverages (10.3 miles)
At 104 units in Austin’s 78704, the asset benefits from a deep renter pool, strong amenity access, and neighborhood occupancy that remains resilient relative to national norms. According to CRE market data from WDSuite, the surrounding neighborhood posts roughly 93% occupancy with an estimated 85% of housing units renter-occupied, pointing to demand depth that supports lease-up and retention strategies. Dense cafe, grocery, and pharmacy access enhances livability and helps differentiate positioning versus older stock lacking walkable options.
Within a 3-mile radius, households have grown and are projected to expand further even as average household size declines, indicating more renters entering the market and sustained demand for multifamily units. Elevated home values relative to local incomes suggest a high-cost ownership market that can reinforce rental demand and support pricing power when paired with effective unit renovations and service quality. Investors should account for affordability pressure signaled by rent-to-income ratios and for local safety considerations with prudent operating practices.
- Deep renter base and stable neighborhood occupancy support leasing durability
- Walkable amenity density (cafes, groceries, pharmacies) enhances resident appeal and retention
- Household growth within 3 miles and smaller household sizes expand the tenant pipeline
- High-cost ownership landscape underpins multifamily demand and pricing power
- Risks: affordability pressure and below-median safety require disciplined management and capital planning