| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 44th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 824 Fairfield Dr, Austin, TX, 78758, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | 2015-02-13 |
| Transaction Price | $2,500,000 |
| Buyer | TRADECONFIDENT LLC |
| Seller | 824 FAIRFIELD LLC |
824 Fairfield Dr, Austin TX Multifamily Investment
Neighborhood fundamentals point to a deep renter base and high occupancy stability at the submarket level, according to WDSuite’s CRE market data. Position within Austin’s inner suburbs supports leasing resilience, though performance will hinge on asset condition and execution.
824 Fairfield Dr sits in an Inner Suburb pocket of Austin that is competitive among Austin neighborhoods (204 out of 527) with a B neighborhood rating. Investor takeaways skew toward renter demand depth and day-to-day convenience rather than school-driven decisions.
Renter-occupied housing is a defining feature here, with a high renter concentration (68.6% of units in the neighborhood). For multifamily owners, this typically translates into a broader tenant funnel and support for occupancy, which is also strong at the neighborhood level and top quartile nationally.
Amenities are a relative strength: the area scores above the metro median for restaurants, groceries, and pharmacies (each ranking high nationally). Café density is also strong. However, parks and formal childcare options are limited within the immediate neighborhood, which may matter for family-oriented renters.
Schools rate below national averages, which can constrain appeal for households prioritizing K–12 outcomes. By contrast, the Inner Suburb location and access to daily needs tend to align with workforce renters who value commute convenience and services.
The property’s 1984 vintage is newer than the neighborhood’s typical housing stock (average 1975). For investors, that positioning can be competitive against older buildings nearby, while still leaving room for targeted system upgrades and interior refreshes to drive rentability and retention.
Within a 3-mile radius, household counts have grown and are projected to expand further even as average household size trends smaller. This suggests a larger tenant base and ongoing demand for rental units, supporting occupancy stability and lease-up efficiency for well-managed assets.
Home values are elevated for the region, and the ownership market skews high-cost relative to local incomes. That dynamic tends to sustain reliance on rental housing and can support pricing power, though owners should manage rent-to-income affordability to mitigate turnover risk.
Safety trends are mixed at the neighborhood level. Compared with neighborhoods nationwide, the area scores below average for safety, and its standing is below the metro median among 527 Austin neighborhoods. That said, estimated property offenses have improved recently with a notable year-over-year decline, indicating some positive momentum.
Investors should underwrite with conservative assumptions, weigh security and lighting upgrades as part of capital planning, and benchmark performance against comparable Inner Suburb assets. Framing safety at the neighborhood scale avoids block-level conclusions while keeping context grounded in regional patterns.
The immediate area draws from a diversified employment base that supports workforce housing and commute convenience, including industrial gases, beverages, software, insurance, and grocery corporate operations.
- Airgas — industrial gases (1.9 miles)
- Coca-Cola — beverages (2.3 miles)
- Adobe — software (3.3 miles)
- New York Life — insurance (5.8 miles)
- Whole Foods Market — grocery corporate offices (6.6 miles) — HQ
824 Fairfield Dr offers exposure to an Austin Inner Suburb with a deep renter base and strong neighborhood-level occupancy, supported by abundant daily-needs amenities and proximity to diversified employers. Based on CRE market data from WDSuite, the neighborhood ranks competitively within the metro and sits in the top quartile nationally for occupancy, indicating demand depth that can underpin leasing stability for a well-positioned asset.
Constructed in 1984, the asset is newer than much of the surrounding housing stock, suggesting competitive positioning versus older comparables while still allowing for targeted value-add through systems modernization and interior updates. Elevated ownership costs in the area help sustain rental demand, but operators should actively manage affordability and address neighborhood safety perceptions through operations and capital plans.
- High neighborhood occupancy and renter concentration support demand depth and lease stability.
- 1984 vintage positions the property competitively versus older local stock, with room for value-add upgrades.
- Strong amenity access and proximity to diversified employers bolster retention for workforce renters.
- Elevated ownership costs reinforce reliance on rental housing, supporting pricing power with prudent lease management.
- Risks: below-average school ratings and neighborhood safety standing require thoughtful operations and CapEx planning.