| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 55th | Best |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1702 N Newsom St, Mineola, TX, 75773, US |
| Region / Metro | Mineola |
| Year of Construction | 1976 |
| Units | 35 |
| Transaction Date | 2005-10-13 |
| Transaction Price | $760,000 |
| Buyer | ROYAL VILLAGE LLC |
| Seller | MINEOLA LLC |
1702 N Newsom St Mineola Multifamily Investment
Stable renter demand and improving neighborhood performance suggest durable occupancy, according to WDSuite’s CRE market data, with Mineola offering a practical entry point for investors evaluating East Texas workforce housing.
This Inner Suburb neighborhood in Mineola ranks 1st out of 29 in the metro, signaling strong local fundamentals that are competitive among Wood County neighborhoods. Neighborhood occupancy is also competitive in the metro (ranked 2nd of 29) and sits in the 70th percentile nationally, supporting a case for steadier cash flows than many peer areas.
Everyday convenience is a relative strength: grocery and restaurant access rank at or near the top locally (1st of 29 for both), and pharmacies and cafes also score above the national median by percentile. Park access is limited (29th of 29), so on-site or nearby private amenities can help with resident retention. Average school ratings are above the national median (about the 70th percentile) and rank 2nd of 29 locally, a positive for family-oriented renter segments.
Renter concentration is high for the area (about 47.5% of housing units are renter-occupied; 1st of 29 and 86th percentile nationally), indicating a deeper tenant base and reinforcing demand for multifamily. Median contract rents benchmark on the lower end nationally (around the 33rd percentile), while the rent-to-income ratio is also comparatively low (about the 15th percentile), which can support lease retention but may temper near-term pricing power. These dynamics, combined with elevated value-to-income ratios (83rd percentile nationally), suggest that the high-cost ownership market locally can sustain reliance on rental options.
Within a 3-mile radius, population has grown in recent years, and smaller average household sizes point to more households forming even without rapid population expansion. That combination generally supports a larger tenant base and helps occupancy stability. Based on multifamily property research from WDSuite, the neighborhood’s A+ rating and amenity access position it competitively versus many East Texas peers.
Comparable neighborhood safety data was not available in WDSuite for this location at the time of analysis. Investors often benchmark neighborhood crime trends against county and metro averages when data is available, and monitor local trendlines alongside property-level security measures to inform underwriting and retention strategies.
Built in 1976, the property is older than the neighborhood’s average vintage, which points to potential capital planning needs but also value-add or renovation upside to enhance competitiveness against newer stock. The neighborhood ranks 1st of 29 in the metro and shows competitive occupancy performance (2nd of 29; 70th percentile nationally), indicating resilient renter demand and support for leasing stability.
High renter concentration (1st of 29; 86th percentile nationally) and a high-cost ownership landscape (value-to-income in the 83rd percentile) reinforce depth of the tenant base, while comparatively low rent-to-income measures suggest retention advantages even if rent growth must be managed carefully. According to CRE market data from WDSuite, everyday amenities are strong locally, but limited park access and the asset’s older vintage are considerations for resident experience and capex planning.
- Competitive neighborhood rank (1 of 29) and strong occupancy support stable leasing
- High renter concentration indicates a deeper tenant base for multifamily
- Ownership costs elevated relative to incomes, supporting sustained rental reliance
- 1976 vintage offers value-add potential alongside targeted modernization
- Risks: limited park access and older systems may require capex; pricing power may be moderate