| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 80th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 W 39th St, Austin, TX, 78751, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 51 |
| Transaction Date | 2008-01-01 |
| Transaction Price | $2,329,700 |
| Buyer | FARAHANI FAMILY LLC |
| Seller | ASC BEARCREEK PROPERTIES LTD |
415 W 39th St Austin Multifamily Investment Opportunity
Positioned in Austin’s Urban Core, the neighborhood s renter-occupied share of housing units is 73.7%, supporting a deep tenant base and stable leasing, according to WDSuite s CRE market data. Neighborhood occupancy is steady and has trended upward over five years, indicating resilient demand rather than short-term volatility.
This Urban Core location ranks 114th out of 527 Austin Round Rock Georgetown neighborhoods for amenities, placing it in the top quartile locally. Nationally, groceries, parks, and pharmacies score in the upper percentiles, which supports daily convenience for residents. Caf e9 and childcare density is thinner, so demand drivers skew more toward proximity, services, and employment access than lifestyle retail saturation.
The neighborhood s occupancy rate is 93.5% (above the national median) and has increased over the last five years, signaling demand durability. A high renter concentration renter-occupied units account for 73.7% of housing indicates depth in the tenant pool and ongoing multifamily relevance at this address.
Within a 3-mile radius, the population expanded by about 10% over five years while households grew by more than 20%, pointing to smaller household sizes and a larger tenant base. The 18 34 cohort is sizable, and forward-looking projections show additional household growth with continued contraction in average household size, which typically supports occupancy stability and absorption for smaller units.
Home values in the neighborhood sit in the upper national percentiles, and the value-to-income ratio is elevated relative to many U.S. areas. In practice, this high-cost ownership market tends to sustain multifamily demand and can aid lease retention. At the same time, the neighborhood rent-to-income ratio (around 0.24) suggests moderate affordability pressure, a constructive backdrop for collections and renewals from an investor perspective.
Safety metrics indicate conditions below national norms, with crime ranks in the lower national percentiles. Relative to the 527 neighborhoods in the Austin metro, this area is not among the top-performing cohorts for safety. However, recent data show property offenses trending downward year over year, which is a constructive directional signal. Investors typically account for these dynamics via on-site security practices, lighting, and resident engagement rather than underwriting on best-case assumptions.
Proximity to major corporate offices supports renter demand through commute convenience and professional job density. Nearby employment nodes include Whole Foods Market, Oracle Waterfront, New York Life, Coca-Cola, and Airgas, providing a diversified service and tech-oriented base.
- Whole Foods Market grocery retail (2.4 miles) HQ
- Oracle Waterfront enterprise software (4.2 miles)
- New York Life insurance (5.2 miles)
- Coca-Cola beverage (5.3 miles)
- Airgas industrial gases (6.1 miles)
This 51-unit asset benefits from an Urban Core setting where renter concentration is high and neighborhood occupancy has risen over the past five years. Elevated home values relative to incomes reinforce reliance on rental housing, while a growing household base within a 3-mile radius expands the tenant pool and supports absorption. According to CRE market data from WDSuite, neighborhood rents trend above the national median with manageable rent-to-income levels, a combination that can underpin collections and renewal capture when managed actively.
Amenity access favors essential services (groceries, parks, pharmacies), which aligns with steady resident demand even as caf e9 and childcare density is thinner. Near-in employers across tech, retail, and services add commute convenience and diversification. Key risks to underwrite include safety metrics that trail national averages and the need for ongoing operational focus to sustain occupancy and pricing power in a competitive Austin market.
- Urban Core location with rising neighborhood occupancy and deep renter base
- Household growth within 3 miles enlarges the tenant pool and supports absorption
- High ownership costs reinforce sustained multifamily demand and lease retention
- Essential-service amenities and nearby employers support stable day-to-day livability
- Risks: safety metrics below national norms and the need for active management to preserve pricing power