| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 88th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3819 Southway Dr, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3819 Southway Dr Austin Multifamily Investment, 78704
Situated in an Urban Core pocket with deep renter demand and strong daily-needs access, the area signals durable leasing potential according to WDSuite’s CRE market data. Neighborhood dynamics favor stabilized operations over time, with investor attention warranted on property positioning and value-add execution.
The property sits in a high-performing Austin Urban Core neighborhood that is competitive among 527 Austin-Round Rock-Georgetown neighborhoods (ranked 17 of 527). Daily-needs amenities test well: grocery, park, and pharmacy access each track in the top quartile nationally, while cafes are less dense, indicating convenience for essentials over lifestyle retail.
Renter concentration is elevated at the neighborhood level (about seven in ten housing units are renter-occupied), pointing to a sizable tenant base and steady multifamily demand. Median contract rents in the neighborhood benchmark above national norms, suggesting pricing power for well-positioned assets, while the area’s rent-to-income levels indicate manageable affordability pressure that can support retention and renewal strategies.
Within a 3-mile radius, demographics indicate a modest dip in population alongside a notable increase in households, implying smaller household sizes and a larger renter pool over time. Forward-looking projections continue to show growth in household counts and higher-income shares, which can deepen the tenant base and support occupancy stability for renovated or well-operated communities.
The asset’s 1972 vintage is older than the neighborhood’s average construction year. For investors, this typically translates to capital planning for systems and interiors, with potential value-add upside where renovations can reposition the asset against newer local stock.
Safety metrics trend below national averages here, and the neighborhood ranks below the metro median for crime (396 out of 527 Austin-Round Rock-Georgetown neighborhoods). Nationally benchmarked violent and property offense rates sit in lower percentiles for safety, warranting prudent security and operational protocols.
Recent momentum shows some improvement: estimated property offenses declined year over year, which is constructive for long-term operations. For underwriting, consider measured assumptions on loss, insurance costs, and security enhancements, and monitor whether the downward trend persists relative to region-wide patterns.
Proximity to major employers supports a broad renter base and commute convenience for workforce and professional tenants, notably Whole Foods Market, Oracle, State Farm Insurance, New York Life, and Coca-Cola.
- Whole Foods Market — grocery retail (3.1 miles) — HQ
- Oracle Waterfront — enterprise software (3.4 miles)
- State Farm Insurance — insurance (6.3 miles)
- New York Life — insurance (8.6 miles)
- Coca-Cola — beverages (10.7 miles)
This 42-unit, 1972-vintage asset in Austin’s 78704 submarket benefits from an Urban Core location with strong daily-needs access and a renter-heavy neighborhood, supporting a wide tenant funnel and durable leasing. According to CRE market data from WDSuite, the neighborhood scores competitively within the metro, with grocery, parks, and pharmacies in the top quartile nationally—favorable for resident satisfaction and retention when paired with effective operations.
Household counts within a 3-mile radius have been rising even as population growth is flat to modest, indicating smaller household sizes and an expanding renter pool that can support occupancy. Elevated home values in the neighborhood reinforce reliance on multifamily housing, while rent levels appear supportable given income benchmarks, creating room for value-add strategies. The older vintage suggests CapEx for building systems and unit finishes, but also meaningful renovation upside versus newer comparables. Underwriting should account for area safety metrics and neighborhood-level occupancy softness with prudent expense and lease-up assumptions.
- Urban Core location with top-quartile daily-needs access supports resident retention and leasing durability
- Large neighborhood renter-occupied share indicates depth of tenant base for multifamily demand
- Rising household counts within 3 miles expand the renter pool and support occupancy over time
- 1972 vintage offers clear value-add potential with renovations to compete against newer stock
- Risks: below-average safety benchmarks and neighborhood-level occupancy softness warrant conservative underwriting and active management