| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 79th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6408 Burns St, Austin, TX, 78752, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | 2024-10-31 |
| Transaction Price | $4,374,370 |
| Buyer | TEXCEL DANIEL LP LLC |
| Seller | TEXCEL LP LLC |
6408 Burns St, Austin — Value-Add Multifamily Opportunity
Positioned in an inner-suburban Austin location with a deep renter base and steady neighborhood occupancy, this asset offers practical value-add angles and durable demand, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Austin-Round Rock-Georgetown where the neighborhood scores are competitive among 527 metro neighborhoods. Amenity access is a local strength: restaurants and cafes rank in the upper tier nationally, with groceries and parks also above typical benchmarks. These features support renter appeal and day-to-day livability that can aid leasing and retention.
Neighborhood occupancy is measured at the neighborhood level, not the property, and is solid with recent improvement trends. The share of housing units that are renter-occupied is high (near the upper end nationally), signaling a sizable tenant base for small-unit product and potential depth across leasing cycles. Median rents in the neighborhood trend above national norms, reinforcing revenue potential while calling for thoughtful affordability management.
Within a 3-mile radius, demographics point to ongoing renter pool expansion: population and households have grown in recent years, with projections indicating further household increases and smaller average household size ahead. Household incomes have trended higher, which can support rent levels and reduce turnover risk when paired with right-sized unit finishes.
Home values in the neighborhood are elevated relative to national levels, placing the area among higher-cost ownership markets. For multifamily investors, this context generally sustains reliance on rental housing and can support pricing power, provided unit positioning and management practices align with local affordability.
Vintage context matters: the average neighborhood construction year skews newer than this asset. Built in 1983, the property is older than nearby stock (average circa 1991), indicating potential capital planning needs alongside value-add or modernization upside to compete against newer comparables.
Safety dynamics should be evaluated carefully. Based on metro rankings, the neighborhood sits in a lower safety tier (crime rank toward the higher end among 527 Austin-Round Rock-Georgetown neighborhoods), and national percentiles place both violent and property offenses below typical U.S. safety levels. Year-over-year estimates point to recent increases, so investors may consider security features and operating practices that mitigate risk and protect NOI.
For underwriting, frame safety comparatively rather than block-by-block: this area tracks below national safety averages but remains serviceable for workforce and urban renters where pricing, access, and amenities offset risk. Enhanced lighting, access control, and resident engagement programs can help manage exposure and support retention.
Nearby corporate offices provide a broad white-collar employment base that supports renter demand and commute convenience, including Coca-Cola, Airgas, Whole Foods Market, Adobe, and New York Life.
- Coca-Cola — beverages corporate offices (3.4 miles)
- Airgas — industrial gases corporate offices (3.9 miles)
- Whole Foods Market — grocery corporate offices (4.6 miles) — HQ
- Adobe — software offices (4.8 miles)
- New York Life — insurance offices (4.9 miles)
6408 Burns St aligns with durable renter demand in an Austin inner-suburban neighborhood that is competitive within the metro. A high renter-occupied share indicates depth in the tenant base, while neighborhood occupancy has remained steady, supporting income stability. Elevated home values in the immediate area point to a high-cost ownership market that can sustain reliance on multifamily rentals. Built in 1983, the asset is older than nearby stock, creating clear value-add and capex planning angles to elevate competitive positioning against newer product.
According to CRE market data from WDSuite, neighborhood rents trend above national norms and amenities are dense by national standards, which together support lease-up and retention when pricing is aligned with income trends. Within a 3-mile radius, households have been growing and are projected to expand further, suggesting a larger tenant base over the medium term. Underwriting should account for safety considerations and potential operating costs tied to security and renovations.
- Deep renter base and steady neighborhood occupancy support income durability
- 1983 vintage offers practical value-add and capex-driven NOI upside
- Elevated home values reinforce multifamily demand versus ownership alternatives
- Amenity-dense location aids leasing velocity and resident retention
- Risk: below-average safety metrics may necessitate security investments and tighter operations