| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 79th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6409 Burns St, Austin, TX, 78752, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 21 |
| Transaction Date | 2019-10-15 |
| Transaction Price | $2,207,800 |
| Buyer | SHERRY NICHOLAS NAVARRETE |
| Seller | BURNS STREET 6409 LLC |
6409 Burns St Austin 21-Unit Multifamily Opportunity
Neighborhood indicators point to steady renter demand—low-90s occupancy and a high renter-occupied share at the neighborhood level—according to WDSuite’s CRE market data.
Positioned in an Inner Suburb of Austin, the area carries an A+ neighborhood rating and ranks 21 out of 527 metro neighborhoods, placing it in the top quartile locally. Amenity access is competitive among Austin neighborhoods (rank 34 of 527), with especially strong food-and-beverage density: restaurants and cafes sit in the upper 90s nationally by concentration. One gap for residents is limited pharmacy presence within the immediate neighborhood.
At the neighborhood level, occupancy is in the low-90s and above the national median, while the share of renter-occupied housing units is high—near 70% and in the top national percentiles. For investors, this points to a deep tenant base and supports leasing stability. Median contract rents benchmark higher than many U.S. neighborhoods (national percentile low-80s), yet a rent-to-income ratio near one-fifth suggests manageable affordability pressure that can aid retention and reduce turnover risk.
Within a 3-mile radius, demographics show population growth in recent years, a larger increase in household counts, and rising incomes—factors that expand the potential renter pool and support absorption. Forward-looking estimates point to continued household gains and higher nominal asking rents through 2028, reinforcing demand for professionally managed multifamily as household sizes trend smaller.
Ownership costs in this part of Austin are elevated (home values and value-to-income ratios sit in higher national percentiles), which tends to sustain reliance on rental housing and can support pricing power for well-positioned assets. Average school ratings are around the national median; marketing toward young professionals and households prioritizing commute convenience and amenities may be effective. The property was built in 1984—older than the neighborhood’s early-1990s average—so investors should plan for ongoing capital needs while evaluating value-add or modernization to compete with newer stock.
Safety benchmarks are weaker than the national median. The neighborhood sits in lower national percentiles for both violent and property offenses, indicating a comparatively higher reported incident environment. Within the Austin metro, the area ranks 439 out of 527 neighborhoods for overall crime, signaling a relative weakness versus many peers; recent year-over-year estimates show modest increases, which warrants underwriting for security, lighting, and access-control measures.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand through short commutes and weekday traffic. The immediate area draws from Coca-Cola, Airgas, Whole Foods Market, Adobe, and New York Life.
- Coca-Cola — beverages (3.4 miles)
- Airgas — industrial gases (3.9 miles)
- Whole Foods Market — grocery corporate (4.6 miles) — HQ
- Adobe — software (4.8 miles)
- New York Life — insurance (5.0 miles)
This 21-unit asset benefits from a high-amenity Inner Suburb location where neighborhood occupancy trends sit above the national median and renter-occupied share is among the highest nationally—key signals for depth of tenant demand. Elevated home values in the broader area help sustain reliance on rental housing, while rising incomes and growing household counts within a 3-mile radius expand the prospective renter pool. According to commercial real estate analysis from WDSuite, the neighborhood’s rent benchmarks are higher than many U.S. areas, yet rent-to-income levels suggest manageable affordability pressure that can support retention.
Built in 1984, the property is older than the neighborhood’s early-1990s average, pointing to ongoing capital planning but also value-add and modernization potential to enhance competitiveness versus newer stock. Investors should weigh the strong amenity access and demand drivers against a weaker safety profile and addressable operating risks (security and resident experience) when shaping the business plan.
- High renter-occupied share and above-median neighborhood occupancy support leasing stability
- Elevated ownership costs reinforce rental demand and pricing power for well-positioned units
- 3-mile household growth and rising incomes expand the tenant base and support absorption
- 1984 vintage offers value-add/modernization upside with appropriate capital planning
- Risk: below-median safety benchmarks require underwriting for security, lighting, and access control