Project Overview

This asset management case study documents ecofi’s 2024 site evaluation of a Texas-based multifamily portfolio seeking to reduce above-average water water conservation engagement covered three garden-style, low-rise apartment communities totaling 587 units in Stephenville, Texas. All three properties are managed by a single regional property management company. The firm had been tracking elevated water costs across the portfolio for several years but had not yet taken a structured approach to measuring consumption or identifying what was driving those expenses.

Why the Portfolio Needed a Water Evaluation

Above-market utility expenses were compressing net operating income across all three properties. Real estate asset management case studies in the multifamily sector consistently identify aging water fixtures as the leading contributor to preventable utility cost. This portfolio was no exception. Residents were consuming between 2,663 and 3,219 gallons per unit per month, well above current efficiency standards. The firm recognized that without a data-driven evaluation, there was no clear path to reducing those costs in a measurable or sustainable way.

On-Site Evaluation Findings

Ecofi conducted on-site evaluations across all three properties on October 28, 2024. The team measured existing fixture flow rates and documented performance on a unit-by-unit basis across all common areas. The evaluation revealed, in this case study on asset management company water performance, that fixtures were operating well above current EPA WaterSense efficiency benchmarks. Toilets across the portfolio were rated at 1.6 to 3.5 gallons per flush. Showerheads were flowing at 2.0 to 2.5 gallons per minute. Those flow rates represented a direct and recoverable drag on portfolio-level NOI.

Savings Modeling and Upgrade Planning

Following the site evaluation, ecofi developed property-specific savings models for each asset. Each model accounted for unit count, current consumption baselines, and local utility rate structures. In asset management case studies of this type, that modeling precision is what separates a reliable projection from a rough estimate. The process produced itemized projected savings, ROI timelines, and a full fixture schedule for every property. Projected annual cost savings across the portfolio came to $107,437, with projected water usage savings of 9.8 million gallons per year. These projections were built on conservative assumptions to give the firm a reliable baseline for capital planning.

Upgrade Plan and Client Approval

Each property received a tailored upgrade plan based on its specific fixture inventory and consumption profile. This case study asset management process gave the firm a clear, side-by-side view of projected outcomes for all three assets. The firm reviewed the projections alongside existing operating data. They approved the full program for all three properties simultaneously, with installations scheduled to begin in early 2025.

Scope of Planned Upgrades

The approved upgrade scope covered four fixture categories across the portfolio. Ultra-low-flush toilets rated at 0.8 gallons per flush were selected to replace existing models. High-efficiency showerheads at 1.5 gallons per minute were specified for all units. This real estate asset management case study reflects a fixture replacement strategy built around verified efficiency standards. Bathroom aerators were planned for replacement from 2.0 gallons per minute down to 0.5 gallons per minute. Kitchen aerators were planned for upgrade to 1.5 gallons per minute. The full scope totaled 2,779 fixtures across all three properties.