| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 79th | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3601 Willow Springs Rd, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3601 Willow Springs Rd Austin Multifamily Investment Opportunity
Neighborhood occupancy is strong and above the Austin metro median, supporting leasing stability according to WDSuite’s CRE market data. This 1983, 50‑unit asset in 78704 benefits from deep renter demand and amenity access that helps sustain performance.
The property sits in an Inner Suburb neighborhood of Austin with an A- rating and above-median occupancy among 527 metro neighborhoods. At 98.3% neighborhood occupancy (91st percentile nationally), landlords typically experience steady lease-up and retention, per WDSuite’s CRE market data. Neighborhood median contract rent trends in the upper national quartile (76th percentile), suggesting room for competitive pricing while keeping an eye on value positioning.
Amenity access is a core strength. Grocery density ranks 6th of 527 metro neighborhoods (99th percentile nationally), with restaurants (93rd percentile) and cafes (95th percentile) also concentrated nearby—positive for lifestyle appeal and weekday demand drivers. While parks and pharmacies register low within the neighborhood footprint, broader South Austin connectivity and everyday retail depth help support renter convenience.
Construction vintage in the area skews late-1970s on average (1977). The subject’s 1983 vintage is modestly newer, which can improve competitive positioning versus older stock; however, investors should plan for aging systems and selective modernization to meet current renter expectations and support pricing power.
Within a 3-mile radius, households increased by about 17% over five years, with population edging up and average household size trending smaller. This dynamic points to a larger tenant base and sustained demand for rental units. Renter-occupied housing accounts for roughly 69% of units within 3 miles, indicating a deep renter pool. Median household income in the neighborhood is mid-to-upper tier for Austin, and a rent-to-income ratio around 0.21 suggests manageable affordability pressure that can aid retention.
For investors benchmarking performance, the neighborhood’s NOI per unit averages about $10,275 (81st percentile nationally), competitive among Austin neighborhoods (rank 25 of 527). While this figure represents neighborhood-level performance rather than this specific property, it reinforces the submarket’s capacity to support stable operating results with effective management.
Safety metrics trend below national averages, and the neighborhood ranks in the lower half of Austin’s 527 neighborhoods for crime. Nationally, safety percentiles are modest (violent and property offense percentiles near the lower decile), indicating crime levels that are higher than many U.S. neighborhoods. That said, recent data from WDSuite shows slight year-over-year improvement, with both violent and property offenses easing.
For underwriting, frame assumptions conservatively and emphasize on-site security, lighting, and resident engagement. Compare comps in nearby Austin neighborhoods to gauge achievable premiums for well-managed assets with visible safety measures.
Proximity to major employers supports workforce housing demand and commute convenience, with a mix of technology, grocery headquarters, and insurance offices driving daily traffic and retention. The employers below reflect the nearest demand anchors relevant to this location.
- Oracle Waterfront — technology offices (2.5 miles)
- Whole Foods Market — grocery headquarters (3.1 miles) — HQ
- State Farm Insurance — insurance offices (7.3 miles)
- New York Life — insurance offices (9.2 miles)
- Coca-Cola — consumer beverages offices (10.8 miles)
3601 Willow Springs Rd offers exposure to a high-occupancy Austin neighborhood where renter demand is reinforced by dense retail and grocery access and a sizable renter base within a 3-mile radius. Neighborhood contract rents sit in the upper national quartile while the rent-to-income ratio indicates moderate affordability pressure, a combination that can support occupancy stability and disciplined rent management. According to CRE market data from WDSuite, neighborhood-level NOI per unit trends above national norms, signaling favorable fundamentals for well-operated assets.
Built in 1983, the asset is slightly newer than the neighborhood average vintage, offering a competitive edge versus older stock while still benefiting from targeted renovations or systems updates to capture value-add upside. Demographic trends within 3 miles—household growth and smaller household sizes—point to an expanding tenant base that can underpin leasing and retention.
- High neighborhood occupancy above metro median supports stable lease-up
- Dense grocery, restaurant, and cafe access enhances renter appeal and retention
- 1983 vintage allows value-add through selective modernization and amenity updates
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: Safety metrics trail national averages—underwrite with prudent OPEX and security plans