| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 61st | Best |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 705 Kings Way, Del Rio, TX, 78840, US |
| Region / Metro | Del Rio |
| Year of Construction | 2007 |
| Units | 112 |
| Transaction Date | 2013-04-24 |
| Transaction Price | $8,400,000 |
| Buyer | RCS STONEGATE LLC |
| Seller | STONEGATE APARTMENTS |
705 Kings Way, Del Rio TX Multifamily Investment
Neighborhood occupancy metrics indicate strong renter stability in this part of Del Rio, according to WDSuite’s CRE market data. Focus is on a steady tenant base supported by solid household incomes, while ownership trends suggest thoughtful positioning on pricing and retention.
The property sits in a suburban neighborhood rated A- (ranked 5 among 17 Del Rio neighborhoods), signaling competitive fundamentals within the metro. Neighborhood occupancy is exceptionally strong and ranks 1 of 17 with a national placement in the top tier, supporting leasing stability for nearby multifamily assets. Median household income ranks 2 of 17 and is in a high national percentile, which can underpin rent collections and reduce turnover risk.
Within a 3-mile radius, WDSuite’s data shows recent growth in population and a faster increase in households, pointing to a larger tenant base and smaller household sizes over time. Looking forward, projections indicate continued population growth and a notable increase in households, which typically supports renter pool expansion and occupancy durability. The share of housing units that are renter-occupied in this radius is moderate today, and forecasts point to a higher ownership share, suggesting operators should compete on product quality, service, and convenience to capture demand.
Neighborhood affordability dynamics appear favorable for retention: the rent-to-income ratio ranks 2 of 17 and places well nationally, implying manageable rent loads relative to income at the neighborhood level. However, the value-to-income ratio sits in a lower national percentile, indicating an ownership market that is relatively accessible compared with many U.S. areas; investors should account for some competition from entry-level homeownership when planning renewals and pricing strategy.
Amenities are limited locally (amenity rank 9 of 17; low national percentile for food, grocery, and pharmacy counts), though park access tests above the national median. Average school ratings are above metro median (rank 2 of 17; above the national midpoint), which can support family-oriented demand. The average construction year in the neighborhood is 2001; with a 2007 vintage, the asset is newer than the local average, offering relative competitiveness versus older stock while still warranting ongoing capital planning for mid-life systems and modernization.
Neighborhood-level crime statistics are not available in this dataset for precise comparison. Investors commonly benchmark safety using city and county sources, recent trends, and property-level history, and pair that with on-site measures (lighting, access control, and resident engagement) to support tenant retention and leasing stability.
Major nearby employers with verified distances are not available in the current dataset. Investors typically supplement this view with local employer maps and commute sheds to gauge workforce housing demand.
Built in 2007, this 112-unit asset is newer than the neighborhood’s average vintage, offering a competitive position versus older product while leaving room for targeted modernization to sustain rents and leasing velocity. Based on CRE market data from WDSuite, the surrounding neighborhood tests at the top of the metro for occupancy with strong household incomes and manageable rent-to-income levels, supporting collections and retention. Within a 3-mile radius, population and household growth point to a larger tenant base over time, which can reinforce occupancy stability.
Counterbalances include limited nearby amenities and an ownership market that looks relatively accessible by national standards, which can create competition for some renter households. Forward-looking data also suggests the share of renter-occupied units could ease as ownership rises, so operators should lean on product quality and service to defend market share while managing affordability pressure and renewals.
- Newer 2007 vintage relative to local average supports competitive positioning
- Neighborhood ranks at the top of the metro for occupancy, aiding leasing stability
- Strong household incomes and favorable rent-to-income metrics support collections
- 3-mile radius shows population and household growth, expanding the tenant base
- Risks: limited local amenities and relatively accessible ownership may pressure renewals and pricing