| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 68th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3524 Greystone Dr, Austin, TX, 78731, US |
| Region / Metro | Austin |
| Year of Construction | 1974 |
| Units | 108 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3524 Greystone Dr Austin Multifamily Value-Add Opportunity
Neighborhood occupancy is strong and renter demand is durable, according to WDSuites CRE market data, supporting stable operations for a 1970s garden community in Austins inner suburbs.
The property sits in an Inner Suburb location within the Austin-Round Rock-Georgetown metro, where neighborhood occupancy trends are competitive among metro peers (ranked 114 of 527) and well above national norms (92nd percentile). This backdrop generally supports leasing stability and reduces downtime risk for similar vintage assets.
Local amenity access is mixed. Grocery and pharmacy density score high versus national peers (both above the 80th percentile), and restaurants are comparatively plentiful, while parks, cafes, and childcare are limited in the immediate neighborhood. For investors, this combination favors everyday convenience but may require positioning toward residents prioritizing proximity to services over green space.
Renter-occupied housing concentration in the neighborhood is elevated, indicating a deep tenant base for multifamily. Within a 3-mile radius, households have expanded in recent years and are projected to increase further, pointing to a larger tenant pool over time and supporting occupancy stability. Median contract rents in the neighborhood sit above national medians (upper-third nationally), while a lower rent-to-income ratio suggests manageable affordability pressure that can aid resident retention.
The assets 1974 construction is slightly older than the neighborhoods average (1977), which can translate into value-add or system modernization opportunities. Thoughtful capital planning can enhance competitive positioning versus newer product while leveraging the areas strong occupancy profile and sustained renter demand informed by WDSuites commercial real estate analysis.
Safety metrics for the neighborhood track below metro and national averages overall. On national comparisons, composite crime indicators align around the lower third, and violent-offense measures sit weaker than mid-range benchmarks. At the same time, recent data show a notable year-over-year decline in property offenses, indicating improving trends that investors should monitor as part of market underwriting and loss-prevention planning.
Practical takeaways: emphasize lighting and access controls, align insurance assumptions with below-average safety rankings, and leverage the recent improvement trajectory in property crime as a potential tailwind if sustained. These observations are neighborhood-level, not specific to the property.
Proximity to established corporate employers supports a steady commuter tenant base and can aid retention through convenient access to jobs. Key nearby employers include Coca-Cola, New York Life, Adobe, Airgas, and Whole Foods Market.
- Coca-Cola beverage (1.9 miles)
- New York Life insurance (3.0 miles)
- Adobe software (3.3 miles)
- Airgas industrial gases (4.0 miles)
- Whole Foods Market grocery retail (6.0 miles) HQ
3524 Greystone Dr offers a stabilized Inner Suburb location with neighborhood occupancy trends that are competitive within Austin and well above national norms, supporting consistent leasing. The 1974 vintage is slightly older than nearby stock, presenting a clear value-add path through targeted renovations and system upgrades. Within a 3-mile radius, household counts have risen and are expected to continue increasing, expanding the renter pool and reinforcing demand. According to CRE market data from WDSuite, neighborhood rents trend above national medians while rent-to-income metrics indicate manageable affordability pressure, a constructive setup for retention and revenue management.
Key considerations include limited nearby parks and cafes, and safety indicators that trail metro and national averages despite recent improvement in property offenses. Underwriting that includes modest capex, a focus on operational controls, and a demand-driven renovation program can position the asset to capture durable income in a constrained submarket.
- Neighborhood occupancy is competitive in the metro and strong versus national benchmarks, supporting stable leasing.
- 1974 vintage enables value-add through targeted renovations and modernization to enhance rents and retention.
- 3-mile household growth and a sizable renter base expand the tenant pool and support demand.
- Rents above national medians with manageable rent-to-income dynamics aid revenue management and renewals.
- Risks: below-average safety metrics and limited parks/cafes; plan for security measures and amenities to mitigate.