| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 38th | Fair |
| Amenities | 5th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 Hospital Blvd, Floresville, TX, 78114, US |
| Region / Metro | Floresville |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2006-11-01 |
| Transaction Price | $670,000 |
| Buyer | WILLIAMS JAMES D |
| Seller | M ARMKE INC CORP |
550 Hospital Blvd Floresville Multifamily Investment
This 24-unit property benefits from a stable renter-occupied housing base of 32.3% within a 3-mile radius, according to CRE market data from WDSuite. The neighborhood demonstrates competitive occupancy fundamentals at 87.7% with forecasted household growth supporting rental demand.
The Floresville neighborhood ranks competitively among 595 San Antonio-New Braunfels metro neighborhoods for housing fundamentals, with a 61st national percentile ranking. Built in 1983, the property aligns with the area's average construction vintage of 1979, indicating consistent building stock without significant capital expenditure disadvantages relative to surrounding inventory.
Demographics within a 3-mile radius show moderate growth patterns, with population expanding 2.2% over five years to 5,553 residents. Household formation increased 15.4% to 2,071 households, supporting rental demand despite a slight decline in average household size to 2.7 members. Median household income reached $68,750 with 19.7% growth over five years, while forecasted data suggests continued income growth of 28.5% through 2028.
The neighborhood's renter concentration of 32.3% provides a solid tenant base, ranking in the 74th national percentile for renter-occupied housing units. Home values averaging $307,338 represent the 63rd national percentile nationwide, creating market dynamics that sustain rental demand as ownership costs remain elevated relative to regional income levels. Contract rents average $760 with 22.8% growth over five years, though rent-to-income ratios indicate affordability pressures that require careful lease management considerations.
Crime data for the immediate neighborhood is not available through current reporting systems, limiting comparative safety analysis against metro and national benchmarks. Investors should conduct independent due diligence on local crime trends and security considerations when evaluating this location.
The property benefits from proximity to major San Antonio-area corporate headquarters and operations centers, providing employment stability for the regional workforce.
- Iheartmedia — media & communications (32.0 miles) — HQ
- USAA — financial services (37.8 miles) — HQ
- USAA Ops Building — financial services operations (38.0 miles)
- CST Brands — retail & convenience (38.0 miles) — HQ
- Andeavor — energy & refining (38.5 miles) — HQ
This 24-unit Floresville property offers exposure to steady suburban rental demand supported by regional employment centers and demographic growth. The 1983 construction year aligns with neighborhood norms, minimizing relative obsolescence concerns while providing potential value-add opportunities through selective modernization. Household formation within a 3-mile radius increased 15.4% over five years, expanding the tenant pool despite modest population growth of 2.2%.
Income growth trends support rental pricing power, with median household income rising 19.7% to $68,750 and forecasted to reach $88,310 by 2028. The neighborhood's 32.3% renter concentration ranks in the 74th national percentile, indicating substantial rental demand depth. However, rent-to-income ratios suggest affordability pressures that require strategic lease management, particularly as contract rents have increased 22.8% over five years.
- Household growth of 15.4% expands the local tenant base
- Strong renter concentration at 74th national percentile supports demand
- Regional employment anchors including USAA and energy sector headquarters
- Forecasted income growth of 28.5% through 2028 supports pricing power
- Rent-to-income pressures require active lease retention strategies