| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 45th | Good |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1410 Richmond Rd, Texarkana, TX, 75503, US |
| Region / Metro | Texarkana |
| Year of Construction | 1972 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1410 Richmond Rd Texarkana Multifamily Investment
Neighborhood occupancy is in the mid-90s with renter-occupied housing just above half, indicating a stable tenant base, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Texarkana, the property is in a neighborhood rated A and ranked 4th out of 76 within the metro—top quartile among Texarkana neighborhoods—signaling strong local fundamentals for multifamily demand.
Convenience-oriented amenities are a relative strength: grocery, pharmacy, restaurants, and cafes score well versus both the metro and nation (each in the upper half nationally), which supports day-to-day livability and retention. Park space and childcare options are limited within the neighborhood, so family-focused renters may look to nearby areas for those needs.
Neighborhood occupancy has trended higher over five years and sits in a strong range today, supporting income stability. Renter-occupied housing represents just over half of units, indicating a broad tenant pool and steady demand for apartments. Median asking rents remain moderate relative to incomes, which can aid renewal rates; at the same time, elevated home value growth in recent years has kept ownership a higher-commitment path, helping sustain rental demand.
Within a 3-mile radius, population was roughly flat over the last five years, while households are expected to increase and average household size to decline. This points to more, smaller households entering the market—favorable for studios and one-bedrooms—and supports occupancy stability for efficiently sized units. These dynamics are based on commercial real estate analysis from WDSuite and suggest gradual expansion of the renter pool.
The building’s 1972 vintage is older than the neighborhood’s average (1990), which implies potential value-add through targeted renovations and systems upgrades. With average unit sizes around 413 square feet, the asset likely skews toward smaller floor plans that can compete on price point and turnover velocity in a workforce housing segment.
Safety indicators are competitive compared with national peers: the neighborhood sits in a higher national safety percentile while ranking around the middle of the Texarkana metro’s 76 neighborhoods. Recent year-over-year data show notable declines in both property and violent offense rates, according to WDSuite, pointing to an improving trend rather than a block-level guarantee.
For investors, the combination of above-average national positioning and metro-median ranking suggests manageable risk with positive momentum. As always, underwriting should factor property-level security measures and ongoing monitoring of local trends.
This 61-unit, 1972-vintage asset offers a value-add path in a Texarkana neighborhood that ranks in the top quartile among 76 metro neighborhoods. Occupancy in the submarket has risen over five years and remains strong, while renter concentration just above half of housing units indicates a durable tenant base. According to CRE market data from WDSuite, amenity access (grocers, pharmacies, restaurants, and cafes) compares favorably to both metro and national benchmarks—supporting retention and everyday convenience.
Investor considerations center on modernization upside and demand balance. Smaller average floor plans position the property for price-sensitive renters, and within a 3-mile radius, households are projected to increase as average household size declines—expanding the renter pool. Offsetting factors include below-average school ratings and accessible ownership costs in the region, which can create competition for family renters; prudent capex, unit upgrades, and leasing strategy can help sustain pricing power.
- Top-quartile neighborhood rank (4 of 76) supports location fundamentals
- Rising, strong neighborhood occupancy and renter share underpin demand stability
- 1972 vintage offers value-add potential via unit and systems upgrades
- Amenity access (grocer, pharmacy, dining, cafes) aids retention and leasing
- Risks: weaker school ratings and ownership competition; manage via targeted capex and leasing