| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 86th | Best |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4021 Steck Ave, Austin, TX, 78759, US |
| Region / Metro | Austin |
| Year of Construction | 1979 |
| Units | 120 |
| Transaction Date | 2012-04-01 |
| Transaction Price | $7,250,000 |
| Buyer | 4021 Steck Avenue LP |
| Seller | Woodstone Associates Limited |
4021 Steck Ave Austin Multifamily Investment Opportunity
Neighborhood occupancy is near the mid-90s, indicating steady renter demand in this inner suburb of Austin, according to WDSuite’s CRE market data. Strong nearby schools and everyday amenities support leasing resilience for well-managed assets.
Situated in an Inner Suburb with an A- neighborhood rating, the area around 4021 Steck Ave shows healthy multifamily fundamentals. Neighborhood occupancy trends sit above the national median and roughly mid-pack within the Austin metro, which supports income stability for professionally managed assets (these figures reflect the neighborhood, not the property).
Daily-life convenience is a relative strength. The neighborhood ranks 55 and 106 out of 527 Austin neighborhoods for cafes and groceries, respectively, placing it competitive for food and essentials and in the 80s percentiles nationally. School ratings are a standout, ranking 41 of 527 locally and in the top quartile nationally—an advantage for lease retention among households prioritizing education.
Ownership costs are elevated (home values sit in the 93rd percentile nationally and rank among the higher-priced areas in Austin). For investors, a high-cost ownership market often sustains reliance on rental housing, reinforcing a stable tenant base and supporting pricing power for well-located communities.
Tenure patterns point to depth in multifamily demand: the neighborhood’s share of renter-occupied housing units is near half, while within a 3-mile radius renters make up the majority of occupied units. Combined with median neighborhood rents in the upper-middle range nationally, this indicates a broad tenant pool that can support leasing velocity when properties are positioned correctly.
Within a 3-mile radius, recent population growth alongside a faster increase in households has expanded the addressable renter base. Looking ahead, forecasts point to further household growth and smaller average household sizes through 2028—dynamics that typically support apartment demand and help underpin occupancy. Household incomes are solid and rising, which can support rent levels while warranting routine lease management to monitor affordability pressure.
Trade-offs: measured park and pharmacy density is limited within the immediate neighborhood footprint, so competitive positioning may rely more on on-site amenities and access to nearby retail corridors.
Neighborhood safety indicators sit below the national median for safety (around the 42nd percentile nationally), and the area ranks 227 out of 527 Austin neighborhoods—more middle-of-the-pack than top-tier. Conditions vary by block and over time, so underwriting should reflect average, not best-in-class, assumptions.
Directionally, offense rates have improved year over year, with both property and violent offenses trending down according to WDSuite’s data. The downward movement is constructive for long-term stability, but investors should remain prudent on security budgets and tenant-experience planning.
Proximity to established employers supports a diversified renter base and convenient commutes, including Coca-Cola, Adobe, New York Life, Airgas, and Whole Foods Market.
- Coca-Cola — corporate offices (1.6 miles)
- Adobe — corporate offices (2.7 miles)
- New York Life — insurance (3.0 miles)
- Airgas — industrial gases & distribution (4.1 miles)
- Whole Foods Market — corporate offices (7.1 miles) — HQ
This 120-unit Austin asset benefits from neighborhood occupancy near the mid-90s and a deep, diversified renter base. Elevated home values at the neighborhood level reinforce reliance on rental housing, while strong school ratings and daily amenities support retention and steady leasing. According to CRE market data from WDSuite, neighborhood rents benchmark in the national upper-middle range, consistent with the area’s income profile and service-rich location.
Forward-looking demographics within a 3-mile radius point to continued apartment demand: household counts are expanding and average household sizes are expected to trend smaller, creating a broader tenant pool and supporting occupancy stability. Underwriting should remain balanced given average neighborhood safety positioning and limited public park/pharmacy density, with emphasis on on-site amenity programs and tenant-experience management.
- Stable neighborhood occupancy and deep renter base underpin leasing consistency
- High-cost ownership market sustains rental demand and supports pricing power
- Strong schools and everyday amenities aid tenant retention
- Demographic tailwinds (more households, smaller household sizes) support demand
- Risks: average safety positioning and limited nearby parks/pharmacies call for prudent Opex and amenity strategy