| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 79th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6309 Burns St, Austin, TX, 78752, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2024-10-31 |
| Transaction Price | $6,313,510 |
| Buyer | TEXCEL BOWIE LP LLC |
| Seller | TEXCEL LP LLC |
6309 Burns St Austin Multifamily Value-Add Opportunity
Inner-suburb location with deep renter demand and strong amenity access; according to WDSuite’s CRE market data, neighborhood metrics point to steady occupancy drivers rather than reliance on lease-up momentum.
Positioned in an Inner Suburb of Austin, the neighborhood scores A+ and ranks 21 out of 527 metro neighborhoods, placing it in the top quartile nationally for overall livability and investment fundamentals. Amenity density is a clear strength: cafes and restaurants rank among the highest in the metro and are in the upper national percentiles, while parks are competitive and grocery access is above metro median. Pharmacy access is limited, which is a minor convenience consideration for residents.
For multifamily investors, the renter-occupied share is high (measured at the neighborhood level), ranking 61 out of 527 — a top-quartile position that signals a sizable tenant base and supports demand durability. Neighborhood rents are competitive among Austin neighborhoods (ranked within the more attractive two-fifths of the metro), and occupancy has trended upward over the last five years, supporting income stability through cycles.
Within a 3-mile radius, demographics indicate population growth over the last five years and a notable increase in households alongside smaller average household sizes. This points to a widening renter pool and consistent demand for smaller formats, which can aid absorption and retention for well-managed properties.
Home values in the neighborhood are elevated relative to incomes at the national level, which typically reinforces reliance on multifamily housing and can support pricing power. At the same time, rent-to-income measurements at the neighborhood level sit near mid-range nationally, suggesting manageable affordability pressure and room for thoughtful revenue management rather than aggressive pushes that could heighten turnover.
The property’s 1972 construction is older than the neighborhood’s average vintage. That age profile usually requires near- to medium-term capital planning for systems, common areas, and in-unit finishes, but it also creates clear value-add pathways to improve competitive positioning against the newer stock.
Safety indicators for the neighborhood trend below national percentiles, and the area ranks in the lower half among 527 Austin neighborhoods. Violent and property offense metrics (neighborhood level) sit well below national safety percentiles, signaling an environment where proactive security measures, lighting, and resident engagement can be important for operations.
Recent year-over-year estimates indicate property offenses increased at the neighborhood level, while violent offense changes were more modest. For underwriting, this argues for prudent expense allowances for security, insurance, and preventative maintenance, and for emphasizing visibility, access control, and partnerships with local community resources.
Commuter access to nearby corporate offices supports a broad workforce renter base, with daily hubs including Coca-Cola, Airgas, Whole Foods Market, Adobe, and New York Life appearing within typical drive times.
- Coca-Cola — consumer beverages offices (3.5 miles)
- Airgas — industrial gases & distribution (4.0 miles)
- Whole Foods Market — corporate offices (4.5 miles) — HQ
- Adobe — software offices (4.9 miles)
- New York Life — insurance offices (5.0 miles)
6309 Burns St sits in a top-ranked Austin Inner Suburb with dense amenities and a high neighborhood renter concentration, supporting a durable tenant base and steady leasing. Based on CRE market data from WDSuite, occupancy at the neighborhood level has improved over the past five years, while rents are competitive among metro peers — conditions that favor operational stability when paired with disciplined revenue management.
The asset’s 1972 vintage is older than the neighborhood average, presenting clear value-add avenues through unit/interior upgrades and building systems modernization. Within a 3-mile radius, population growth and a faster rise in household counts — alongside smaller household sizes — point to ongoing renter pool expansion that can support occupancy and retention for well-positioned properties.
- High neighborhood renter concentration supports depth of demand and leasing stability.
- Amenity-rich Inner Suburb with top-quartile overall neighborhood ranking among 527 Austin neighborhoods.
- Value-add potential from 1972 vintage through targeted CapEx and unit upgrades versus newer competitive stock.
- 3-mile radius demographics show growing households and smaller sizes, supporting renter pool expansion and absorption.
- Risk: Below-average safety metrics argue for robust security/insurance assumptions and active on-site management.