| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 80th | Best |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2300 N A St, Midland, TX, 79705, US |
| Region / Metro | Midland |
| Year of Construction | 1976 |
| Units | 120 |
| Transaction Date | 2019-12-19 |
| Transaction Price | $12,366,300 |
| Buyer | VA7 COURTYARD LLC |
| Seller | RRERF COURTYARD LP |
2300 N A St, Midland TX — 120-Unit Value-Add Opportunity
Neighborhood occupancy is solid and renter demand is supported by high local incomes, according to WDSuite’s CRE market data, positioning this asset for steady performance with targeted upgrades.
Neighborhood dynamics and livability
Set in Midland’s inner-suburb fabric, the property sits in a neighborhood rated A+ and ranked 2 out of 47 within the metro—placing it firmly in the top quartile locally. Compared with neighborhoods nationwide, the area scores well on demographics and amenities, which helps underpin consistent renter interest.
Everyday convenience is a strength: restaurants are top quartile nationally, with parks, pharmacies, and groceries all above the national median. Cafés are comparatively sparse, while childcare access trends above average—useful for resident retention in family-oriented units. Average school ratings are exceptionally strong, effectively top tier nationally, which can reinforce stability for longer-term renters.
Neighborhood occupancy is in the mid-90s, indicating resilient leasing conditions at the submarket level (this is the neighborhood’s occupancy, not the property’s). Median contract rents in the area have trended upward over the last five years, while rent-to-income levels remain favorable—suggesting pricing power with measured lease management rather than aggressive jumps, based on WDSuite’s multifamily property research.
Tenure patterns signal a meaningful renter base: roughly four in ten housing units in the neighborhood are renter-occupied, supporting depth of demand for multifamily. Within a 3-mile radius, recent years show a slight population contraction alongside a modest increase in household count and smaller average household sizes—dynamics that expand the renter pool for one- and two-bedroom formats and support occupancy stability.
Vintage matters for underwriting. Built in 1976—older than the neighborhood’s average 1980s build—this asset likely benefits from a value-add strategy that modernizes interiors and addresses capital items, improving competitive positioning against newer local stock.
Safety context
Relative to neighborhoods nationwide, the broader crime picture trends modestly better than the national median, while category-level readings for violent and property offenses sit closer to the lower half. Within the Midland metro, this area performs around the middle of the pack among 47 neighborhoods, indicating neither an outlier risk nor a top-performing safety profile.
Trend-wise, reported violent and property offense rates have declined by roughly a third over the past year. For investors, the direction is constructive, but underwriting should still assume average-level safety conditions with standard operational measures to support resident retention.
Investment thesis
This 120-unit asset in Midland benefits from a high-performing neighborhood that ranks 2 out of 47 metro neighborhoods, supporting durable leasing. Neighborhood occupancy remains healthy and rent-to-income levels are favorable, indicating room for thoughtful rent optimization without overextending residents. According to WDSuite’s commercial real estate analysis, the 1976 vintage points to clear value-add potential through interior upgrades and capital planning to enhance competitiveness versus newer stock.
Within a 3-mile radius, household counts have inched higher even as population edged down, and forecasts point to further household growth alongside smaller household sizes—factors that can expand the tenant base for 1–2 bedroom units. Combined with strong local school performance and above-median amenities, the location supports retention and occupancy stability through cycles.
- Top-tier neighborhood within the Midland metro (2 of 47) supports leasing durability
- Healthy neighborhood occupancy and favorable rent-to-income profile support measured pricing power
- 1976 vintage offers value-add and capex-driven upside to compete with newer assets
- 3-mile household growth and smaller household sizes expand the renter pool for 1–2 bedroom layouts
- Risks: older systems and average safety positioning require prudent capital plans and operational focus