| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 33rd | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 707 Carpenter Ave, Austin, TX, 78753, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | 2009-12-16 |
| Transaction Price | $775,000 |
| Buyer | CARPENTER PROPERTIES LLC |
| Seller | HUERTA EDUARDO |
707 Carpenter Ave Austin Multifamily Investment
Positioned in an inner-suburban pocket of North Austin, the asset benefits from a large renter base and proximity to everyday services, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady, offering dependable demand with room for value-focused execution.
This Inner Suburb location in Austin places residents near daily necessities rather than destination retail. Grocery and pharmacy access are relative strengths, with both categories ranking in the higher tiers nationally, while restaurants are reasonably available. By contrast, cafes, parks, and formal childcare options are limited in the immediate neighborhood, which keeps the amenity profile practical rather than lifestyle-driven.
The neighborhood’s renter concentration is high (about two-thirds of housing units are renter-occupied), signaling a deep tenant base for small to mid-sized multifamily. Neighborhood occupancy sits near the national mid-range, which suggests stable but competitive leasing conditions where operational execution—marketing, turns, and renewals—matters.
Within a 3-mile radius, households have grown while average household size has trended smaller, indicating more, smaller households entering the market and supporting a broader tenant pool. Forecasts point to continued household growth over the next several years, which should support occupancy stability for efficiently managed properties.
Ownership costs in the neighborhood are elevated relative to local incomes (high value-to-income ratios), a backdrop that tends to sustain reliance on rentals and can support pricing power for well-positioned units. At the same time, rent-to-income ratios in the neighborhood indicate affordability pressure for some renter cohorts; operators should emphasize lease management and retention to balance occupancy with achievable rent growth. These dynamics align with what commercial real estate analysis often highlights in inner-suburban Austin submarkets—steady demand anchored by necessity retail and employment access.
Safety indicators for the neighborhood track below the metro median among 527 Austin-area neighborhoods and below national medians. While current levels warrant prudent on-site management and resident engagement, recent data shows property crime rates declining and violent offense measures improving modestly year over year, indicating a constructive directional trend. As always, investors should evaluate property-level security practices and nearby street conditions as part of diligence.
Nearby employers span industrial gases, beverages, software, financial services, and diversified manufacturing. This mix supports workforce housing demand and commute convenience for a broad renter pool.
- Airgas — industrial gases (1.7 miles)
- Coca-Cola — beverages (2.4 miles)
- Adobe — software (3.3 miles)
- New York Life — financial services (6.0 miles)
- Arconic — manufacturing (6.4 miles) — HQ
Built in 1972, the 27-unit property sits slightly older than the neighborhood average vintage, which can translate into value-add potential through targeted renovations, systems updates, and exterior improvements. The immediate area shows a high share of renter-occupied units and convenient access to groceries, pharmacies, and everyday employment nodes—factors that support a durable tenant base. Neighborhood occupancy trends are mid-range rather than top-tier, so the thesis centers on operational execution and selective upgrades to drive rentability and retention.
Within a 3-mile radius, recent household growth alongside smaller average household size suggests a larger renter pool over time, supporting demand for well-maintained, moderately priced units. A high-cost ownership backdrop reinforces reliance on multifamily, though elevated rent-to-income metrics point to affordability pressure that calls for disciplined lease management. According to CRE market data from WDSuite, these conditions are consistent with inner-suburban Austin: dependable demand with room for value-focused repositioning rather than outsized speculative growth.
- High renter concentration supports a deep tenant base and steady leasing.
- Vintage 1972 provides value-add and systems-upgrade opportunities to enhance competitiveness.
- Everyday retail and nearby employers offer practical location fundamentals for workforce renters.
- Risk: Mid-range occupancy and affordability pressure require disciplined pricing, retention, and expense control.