| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 56th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7211 Northeast Dr, Austin, TX, 78723, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 54 |
| Transaction Date | 2015-05-15 |
| Transaction Price | $3,850,000 |
| Buyer | 7211 NORTHEAST DRIVE LLC |
| Seller | NORTON RUSTIC CREEK LLC |
7211 Northeast Dr Austin Multifamily Investment
Neighborhood occupancy has remained elevated, supporting income stability for stabilized assets, according to WDSuite’s CRE market data. Within a 3-mile radius, a sizable share of housing units is renter-occupied, pointing to a durable tenant base rather than for-sale demand.
Located in Austin’s inner suburb of 78723, the property sits in a neighborhood that is competitive among Austin-Round Rock-Georgetown submarkets on occupancy (ranked 146 of 527 neighborhoods; top-quartile nationally for occupancy). This positioning supports leasing durability for workforce-oriented multifamily, even as cycle timing shifts.
Livability is mixed: immediate-block amenity density is limited (few cafes, groceries, or parks within the neighborhood footprint), so residents likely rely on nearby corridors for daily needs. School ratings in the neighborhood track below national norms, which can influence family-oriented demand but tends to keep focus on young professionals and workforce renters.
Within a 3-mile radius, demographics point to a growing renter pool: population has increased in recent years and households have expanded faster than population, indicating smaller household sizes and more households seeking rental options. A majority of units are renter-occupied in this radius, which deepens the tenant base and helps support occupancy stability.
Home values in the neighborhood are elevated relative to many U.S. areas, which reinforces renter reliance on multifamily housing and can aid pricing power when managed carefully. At the same time, neighborhood-level NOI per unit trends below national norms, so underwriting should account for expense control and operational focus to capture the area’s high occupancy.
Safety indicators for the neighborhood are below both metro and national averages. The area ranks 400 out of 527 Austin neighborhoods on crime, and national percentiles indicate lower relative safety (violent and property offense percentiles are in the lower fifth nationwide). Recent one-year trends show reported violent and property offenses rising, so investors should underwrite to professional security measures and tenant-experience management while monitoring citywide trendlines.
Proximity to established corporate offices supports renter demand via commute convenience to industrial gases, beverage, grocery headquarters, and software employers listed below.
- Airgas — industrial gases (4.0 miles)
- Coca-Cola — beverage (5.0 miles)
- Whole Foods Market — grocery retail (5.6 miles) — HQ
- Oracle Waterfront — enterprise software offices (6.0 miles)
- Adobe — software (6.1 miles)
Built in 1972, the asset is older than the neighborhood’s average vintage, creating a clear value-add and capital planning angle around unit renovations, building systems, and curb appeal. Neighborhood occupancy trends are competitive among Austin peers and top quartile nationally, which supports stabilization and lease retention; according to CRE market data from WDSuite, this neighborhood consistently posts high occupied unit levels relative to many U.S. areas.
Within a 3-mile radius, household counts have grown faster than population, implying smaller household sizes and a larger pool of renters entering the market. Elevated neighborhood home values point to a high-cost ownership environment that sustains reliance on rentals, while a favorable rent-to-income backdrop suggests room for disciplined rent management. Investors should balance these strengths against softer neighborhood amenity density, below-average school ratings, and safety metrics that warrant proactive property management.
- High neighborhood occupancy supports leasing stability versus broader market cycles
- 1972 vintage offers value-add potential through unit/interior and systems upgrades
- 3-mile radius shows expanding renter pool, reinforcing demand depth and retention
- Elevated local home values reinforce renter reliance and potential pricing power
- Risks: thinner immediate amenities, below-average school ratings, and safety indicators below metro norms