| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 54th | Good |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 209 County Road 2460, Mineola, TX, 75773, US |
| Region / Metro | Mineola |
| Year of Construction | 2010 |
| Units | 22 |
| Transaction Date | 2010-08-12 |
| Transaction Price | $325,000 |
| Buyer | LTL CONSTRUCTION LLC |
| Seller | GLEN THURMAN BUILDER INC |
209 County Road 2460 Mineola Multifamily Investment
Rural Mineola shows steady renter demand supported by a predominantly owner-occupied housing base, according to WDSuite s CRE market data. Neighborhood occupancy is tracked at the area level, helping investors gauge stability relative to metro trends.
The property sits in a rural neighborhood of Mineola that ranks 4th out of 29 metro neighborhoods (A-rated), placing it in the top quartile locally for overall neighborhood quality. Investors should view this as a signal of competitive fundamentals within the metro context rather than a guarantee of asset performance.
Local services are modest and spread out, typical of rural submarkets. Amenities like groceries and pharmacies are present but limited, while parks and childcare options are sparse. Compared with national patterns, the amenity mix sits below the middle of the pack, which can translate to quieter, car-dependent living rather than a walkable setting.
Neighborhood housing dynamics indicate an occupancy rate of 85.8% for the area (not the property). The share of renter-occupied housing units is relatively low at 10.6%, pointing to a thinner renter base but also less direct competition from abundant rentals. For multifamily owners, that mix can support retention where product quality and management execution are strong.
Home values around the neighborhood are mid-range for the region, and ownership costs appear manageable relative to incomes. In practice, this suggests some households may pursue ownership, while multifamily demand persists among renters prioritizing convenience, flexibility, or newer product. Construction in the area skews somewhat newer by regional standards, and with a 2010 build, this property competes well against older stock while still warranting ongoing capital planning for systems and common-area updates over a long hold.
Resilience indicators improved through recent cycles, with the neighborhood scoring near the high end compared with U.S. areas on pandemic-related exposure and recovery metrics. Demographic statistics referenced for leasing and demand assessment are evaluated within a 3-mile radius to capture the functional renter pool, supporting investor analysis of tenant base depth and lease-up prospects.
Comparable safety benchmarking at the neighborhood level is important for underwriting, but verified crime statistics for this specific area are not available in the dataset provided. Investors commonly compare neighborhood trends to county and metro patterns to gauge relative risk, then align on-site measures and tenant screening practices accordingly.
Given the rural setting, safety perceptions can vary block to block and over time. A prudent approach is to corroborate conditions with multiple sources, review recent trend data when accessible, and incorporate standard risk mitigation in operating plans.
Built in 2010 with 22 units, the asset offers relatively newer-vintage positioning in a rural Mineola neighborhood that ranks in the top quartile among 29 metro neighborhoods. Neighborhood occupancy is measured at 85.8% (area-level, not property-specific), with a low share of renter-occupied housing units that can support retention for well-managed assets. According to CRE market data from WDSuite, local amenities are limited but stable, and resilience indicators test strongly compared to national peers, supporting a steady if measured renter pool.
From an underwriting standpoint, the vintage provides competitive standing versus older stock, while investors should plan for ongoing systems upkeep and selective common-area updates over the hold. Ownership costs in the area are balanced against incomes, which can temper pricing power at the margin but still supports multifamily demand among households prioritizing flexibility, location convenience, and newer product.
- 2010 vintage positions the asset competitively versus older regional stock with manageable capital planning needs
- Top-quartile neighborhood rank (4 of 29) signals solid local fundamentals and tenant appeal
- Area-level occupancy tracked at 85.8% and low renter concentration can support retention for quality-managed assets
- Strong resilience indicators relative to national peers underpin steady demand across cycles
- Risk: smaller renter base and limited amenities in a rural setting may constrain rapid lease-up or premium rent growth