| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 Discovery Blvd, Cedar Park, TX, 78613, US |
| Region / Metro | Cedar Park |
| Year of Construction | 1998 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
450 Discovery Blvd Cedar Park Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is supported by stable suburban fundamentals, according to WDSuite’s CRE market data.
Cedar Park’s inner-suburb setting combines daily convenience with solid renter demand drivers. Grocery, parks, and pharmacy access test well versus national peers, while cafe and childcare density is thinner—conditions that often suit workforce-oriented properties. Commercial real estate analysis points to a balanced suburban node rather than a high-amenity urban enclave.
Rents in the neighborhood benchmark above the national median, and the rent-to-income ratio trends near the moderate range, which can support retention and occupancy management for well-positioned assets. Home values reflect a relatively high-cost ownership market locally, which tends to sustain reliance on multifamily housing and deepen the tenant base.
The neighborhood’s housing stock trends newer on average than many suburbs in the region, while this property’s 1998 vintage is earlier than the local average. That age profile points to potential value-add via unit and system updates, with competitive positioning against older assets.
Within a 3-mile radius, population grew about 5.5% over the last five years while households expanded roughly 22.9%; forecasts indicate further growth in households (about 42.4% by 2028) alongside smaller average household sizes. This dynamic broadens the potential renter pool and supports occupancy stability. The neighborhood’s renter-occupied share is competitive among Austin neighborhoods and provides meaningful depth for multifamily leasing.
- Neighborhood rating: A- (competitive among 527 Austin metro neighborhoods)
- Occupancy (neighborhood): top nationally and ranked first among 527 metro neighborhoods, supporting leasing stability
- Amenities: grocery/parks/pharmacy density above national averages; cafe/childcare density is limited
- Tenure: renter-occupied share in the mid-40% range, indicating depth for multifamily demand
Safety indicators benchmark below the national median, with both violent and property offense rates sitting in lower national percentiles. Within the Austin-Round Rock-Georgetown metro, the neighborhood’s crime rank places it around the middle but somewhat less safe than the metro median among 527 neighborhoods.
Recent momentum is mixed: estimated violent offenses improved year over year, while property offenses were relatively flat. For investors, this suggests standard safety diligence is prudent while acknowledging the recent improvement in violent offense trends.
Proximity to major corporate employers supports a broad commuter tenant base and can aid retention through convenient access to established office nodes. The nearest anchors include Dell Technologies, Adobe, Coca-Cola, New York Life, and Raymond James.
- Dell Technologies — technology (9.2 miles) — HQ
- Adobe — software (10.1 miles)
- Coca-Cola — consumer beverages offices (11.1 miles)
- New York Life — insurance (11.5 miles)
- Raymond James — financial services offices (12.0 miles)
This 50-unit asset at 450 Discovery Blvd benefits from a suburban location where neighborhood occupancy is exceptionally strong and renter demand is reinforced by higher-cost ownership dynamics. According to CRE market data from WDSuite, the neighborhood posts top-tier occupancy performance versus both metro and national benchmarks, a favorable backdrop for lease stability.
The 1998 vintage is earlier than the local average, creating a clear value-add path via interior upgrades and systems modernization. Within a 3-mile radius, recent population gains, outsized household growth, and forecasts for further household expansion indicate a larger tenant base ahead, supporting absorption and pricing power for appropriately positioned product.
- Neighborhood occupancy leadership supports stable leasing and retention
- 1998 vintage offers renovation and repositioning upside versus newer stock
- 3-mile household growth and projected expansion broaden the renter pool
- Higher-cost ownership context reinforces reliance on multifamily housing
- Risks: safety metrics below national median and thinner cafe/childcare amenity density warrant underwriting attention