| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 73rd | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10507 Mellow Mdws, Austin, TX, 78750, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 100 |
| Transaction Date | 2008-12-01 |
| Transaction Price | $3,450,000 |
| Buyer | BRL Meadows LLC |
| Seller | AIMCO Meadows at Anderson Mill. |
10507 Mellow Mdws Austin Multifamily Investment Opportunity
Neighborhood occupancy is strong and has trended higher, supporting stable collections and lease retention according to WDSuite’s CRE market data. Positioned in Austin’s inner suburbs, the asset benefits from a deep renter pool and steady demand drivers.
This inner-suburb location ranks 90 out of 527 Austin metro neighborhoods, placing it in the top quartile locally for overall neighborhood quality. The area’s renter demand is reinforced by a high neighborhood occupancy level, measured for the neighborhood rather than this property, with conditions that have strengthened over the past five years, supporting leasing stability and pricing discipline.
Livability indicators are favorable for families and working professionals. Average school ratings are competitive (ranked 52 of 527 in the metro; top quartile nationally), which can bolster long-term neighborhood desirability for multifamily. Amenities skew toward daily convenience: cafes and restaurants are dense (both near the top of metro rankings), and pharmacies score well above the metro median. Immediate access to large parks and full-service groceries is thinner in the immediate blocks, so residents may rely on short drives for those needs.
Within a 3-mile radius, demographic statistics show population and household growth in recent years, with projections indicating continued expansion and smaller average household sizes. This combination typically broadens the tenant base and supports occupancy stability for a range of unit mixes. About half of housing units in this radius are renter-occupied, implying a deep pool of prospective tenants and resilient demand for professionally managed apartments.
Ownership costs in the neighborhood are elevated relative to incomes (above the national median by percentile), which tends to reinforce renter reliance on multifamily housing. At the same time, neighborhood rent-to-income levels sit near the low end nationally, a dynamic that can support retention and steady renewal velocity for well-managed assets.
Safety metrics for the neighborhood sit close to the national midpoint overall, while remaining competitive among Austin neighborhoods (rank 192 of 527 in the metro). For investors, the key trend is directional: recent data indicate a year-over-year decline in property offenses locally, which supports leasing stability and resident retention when paired with professional management and routine security practices.
As with any infill suburban location, conditions can vary block to block. Framing risk at the neighborhood level is prudent, and comparative positioning versus the metro and national benchmarks suggests a generally manageable profile with attention to standard safety and lighting measures.
The employment base includes a mix of technology and corporate services within commutable distance, supporting workforce housing dynamics and weekday occupancy. Notable nearby employers include Adobe, Coca-Cola, New York Life, Dell Technologies, and Airgas.
- Adobe — software (6.0 miles)
- Coca-Cola — consumer beverages (6.9 miles)
- New York Life — insurance (7.3 miles)
- Dell Technologies — technology (7.6 miles) — HQ
- Airgas — industrial gases (8.7 miles)
Built in 1983, the property is older than the neighborhood’s newer housing stock, creating clear value-add and modernization angles while remaining competitively positioned amid high neighborhood occupancy. According to commercial real estate analysis from WDSuite, renter demand in this part of Austin’s inner suburbs is supported by strong neighborhood occupancy, above-median school quality, and dense daily amenities.
Demographic statistics within a 3-mile radius indicate recent population and household growth with projections for further expansion and smaller household sizes, which typically increases the renter pool and supports steady lease-up and renewals. Elevated ownership costs relative to incomes underpin reliance on rental housing, while neighborhood rent-to-income dynamics suggest room for disciplined rent management and retention.
- High neighborhood occupancy and steady renter demand support collections stability
- 1983 vintage offers value-add and systems modernization potential versus newer local stock
- Strong schools and dense daily amenities enhance long-term neighborhood appeal
- 3-mile demographic growth and smaller household sizes expand the tenant base
- Risks: limited immediate grocery/park access and safety near the national midpoint warrant routine management focus