| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 40th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 202 Crystal Falls Pkwy, Leander, TX, 78641, US |
| Region / Metro | Leander |
| Year of Construction | 1992 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
202 Crystal Falls Pkwy Leander Multifamily Value-Add Opportunity
Neighborhood occupancy is historically firm and renter demand is supported by growing nearby households, according to WDSuite’s CRE market data.
Located in Leander’s inner-suburban fabric of the Austin-Round Rock-Georgetown metro, the property sits in a neighborhood rated B- (ranked 310 out of 527 metro neighborhoods). For investors, the headline is demand stability: neighborhood multifamily occupancy is strong and sits above the metro median and in the top quartile nationally, per WDSuite. That backdrop supports consistent leasing and lowers downtime risk compared to weaker sub-areas.
Daily-needs access is a relative strength. Grocery availability is competitive at the 94th percentile nationally and restaurant density is at the 86th percentile, while cafes, parks, and pharmacies are sparse locally. This mix favors convenience retail and errands but suggests fewer lifestyle amenities in the immediate blocks, a consideration for tenant retention strategy and positioning.
The neighborhood’s renter-occupied share is 40.4% (80th percentile nationally), indicating a sizable renter base that can deepen leasing pools for a 37-unit asset. Within a 3-mile radius, demographics point to a larger tenant base ahead: population has expanded and households have grown materially over the last five years, with forecasts calling for further household growth alongside smaller average household sizes. For multifamily, that combination typically supports absorption and occupancy stability.
Income context supports achievable effective rents. Local rent-to-income measures are moderate (0.17 at the neighborhood level), and 3-mile median incomes are high relative to many U.S. suburbs. Elevated ownership costs in the area, reflected in higher national percentiles for housing/value metrics, tend to sustain reliance on rentals rather than displace demand into for-sale options — constructive for rent roll durability.
Vintage context matters: the average neighborhood construction year skews newer (2003). Built in 1992, the subject should be evaluated for targeted capital improvements to maintain competitive positioning versus newer stock; that also creates value-add levers through renovations and systems upgrades where returns pencil.
Comparable crime statistics at the neighborhood level were not available in WDSuite’s current data release for this location. Investors typically benchmark safety using metro and city trend lines and property-level measures (lighting, access control, and management practices) rather than block-by-block figures.
When underwriting, consider recent city or county trend reports and operator protocols to contextualize risk and insurance assumptions; where neighborhood ranks or national percentiles are missing, using broader Austin-area trends is a prudent proxy.
Regional employment depth supports renter demand through commute-accessible nodes to technology and financial services. Key nearby employers include Dell Technologies, Raymond James, Adobe, Coca-Cola, and New York Life — providing diversified white-collar job anchors that can aid leasing stability.
- Dell Technologies — technology (11.3 miles) — HQ
- Raymond James — financial services (11.5 miles)
- Adobe — software (13.0 miles)
- Coca-Cola — beverages (14.0 miles)
- New York Life — insurance (14.2 miles)
This 37-unit, 1992-vintage asset in Leander benefits from a neighborhood with above-median metro occupancy and top-quartile national standing, supporting steady lease-up and retention. Household and population growth within a 3-mile radius expands the renter pool, while a moderate rent-to-income profile indicates manageable affordability pressure for tenants — a constructive setup for maintaining occupancy and monetizing upgrades. Daily-needs access is strong (notably groceries and restaurants), though fewer lifestyle amenities nearby suggests focusing on in-property features and efficient management to drive renewals. Based on commercial real estate analysis supported by WDSuite’s CRE market data, the competitive set skews newer, creating an opening for a targeted value-add strategy.
Investor implications: prioritize selective interior and systems updates to narrow the gap versus 2000s stock, calibrate rents to income depth rather than chasing peak premiums, and leverage proximity to diversified employment to support leasing. Monitor amenity-light blocks and any operating expense drift from capital plans when underwriting risk-adjusted returns.
- Occupancy strength above the metro median and top quartile nationally supports stable cash flow.
- 3-mile population and household growth expand the tenant base, aiding absorption and renewals.
- 1992 vintage offers clear value-add levers to compete with newer 2000s assets.
- Strong daily-needs access (groceries/restaurants) supports convenience-driven retention.
- Risks: amenity-light immediate blocks and capex requirements; manage rents to income depth and monitor OPEX.