| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 60th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 511 E Hackberry St, Rockport, TX, 78382, US |
| Region / Metro | Rockport |
| Year of Construction | 1983 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
511 E Hackberry St Rockport Multifamily Investment
Positioned in a high-cost ownership pocket of Rockport, this 60‑unit asset taps into a renter pool supported by smaller household sizes and growing household counts, according to WDSuite’s CRE market data. Neighborhood fundamentals are comparatively strong within the metro, while value-add from the 1983 vintage can help sharpen competitiveness versus older stock.
Rockport s neighborhood cluster around 511 E Hackberry St is rated A and ranks 2 of 9 locally, placing it in the top quartile among Rockport metro neighborhoods on overall livability. Amenity access is above the metro median (rank 4 of 9), led by grocery options and park access that score stronger than many areas nationally, while cafes and pharmacies are thinner. For investors, this mix points to day‑to‑day convenience for residents with some lifestyle gaps to account for in leasing strategy.
Construction skews older in the area (average 1979). With a 1983 vintage, the property is slightly newer than nearby stock, which can support relative competitiveness; however, systems are still maturing, so targeted modernization and common‑area upgrades may be part of the capital plan.
Renter-occupied units represent a smaller share of housing in the neighborhood and within the 3‑mile radius, which typically indicates a more ownership‑oriented area. For multifamily, this tends to translate into a thinner but steady renter base drawn to more accessible rental options relative to local ownership costs.
Within a 3‑mile radius, household counts have increased even as population edged lower in recent years, reflecting smaller household sizes. Forward-looking data indicate population growth and a notable increase in households, which expands the local tenant base and can support occupancy stability over time.
Home values sit at elevated levels relative to incomes (top decile nationally by value-to-income ratio). In practice, this high-cost ownership market helps sustain rental reliance and supports pricing power when amenities, finishes, and management execution are competitive.
Safety indicators are mixed. Compared with other Rockport neighborhoods, crime ranks closer to the higher side (rank 2 of 9). However, national comparisons show this area performing well on violent offense measures (top decile nationally) and comparatively strong on property offenses (above national median), suggesting broader safety positioning remains favorable.
Recent data show a notable uptick in property offenses year over year, even as violent offenses improved. Investors should underwrite with prudent security and lighting considerations and verify the most recent trends, while recognizing that the broader national positioning remains relatively strong based on WDSuite s CRE market data.
This 60‑unit, 1983‑built Rockport asset sits in a neighborhood that performs in the top quartile locally, with everyday amenities anchored by groceries and parks. A high ownership cost environment underpins renter reliance, while within 3 miles households are increasing and average household size is trending smaller—conditions that typically widen the renter pool and aid leasing consistency. According to CRE market data from WDSuite, these dynamics compare favorably to many coastal‑adjacent Texas submarkets where renter demand is reinforced by elevated ownership costs.
Investor focus centers on operational execution and selective capital improvements: the vintage supports a value‑add path to compete against older stock, while the neighborhood s comparatively lower occupancy levels and recent property offense volatility warrant conservative underwriting on lease-up timing and operating expenses.
- Top-quartile neighborhood within Rockport supports resident appeal and leasing
- High-cost ownership market reinforces multifamily rental demand and retention
- 1983 vintage offers value-add potential to elevate rents and competitiveness
- Household growth within 3 miles expands the tenant base and supports occupancy
- Risks: neighborhood occupancy trails national norms; recent property offense volatility