| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 21st | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1915 Richmond Rd, Texarkana, TX, 75503, US |
| Region / Metro | Texarkana |
| Year of Construction | 1983 |
| Units | 60 |
| Transaction Date | 2015-06-13 |
| Transaction Price | $300,000 |
| Buyer | 1915 RICHMOND LLC |
| Seller | 1915 RICHMOND LLC |
1915 Richmond Rd Texarkana Multifamily Investment
Renter concentration in the neighborhood is among the highest in the Texarkana metro, supporting a deep tenant base according to WDSuite s CRE market data. Stable demand drivers and everyday amenities point to steady occupancy, with pricing set by a value-oriented local market.
Situated in an Inner Suburb location with an A neighborhood rating, this area ranks 7th out of 76 Texarkana neighborhoods, signaling solid overall fundamentals for workforce-oriented rentals. Amenity access is a standout: the neighborhood ranks 1st out of 76 for overall amenities, with parks and everyday retail in easy reach, which supports tenant retention and day-to-day livability.
Neighborhood renter-occupied share is elevated (ranked 2nd of 76), indicating a deep pool of renters and reinforcing demand for multifamily units. By contrast, the neighborhood s occupancy rate sits below the metro median (ranked 43rd of 76), suggesting operators should prioritize leasing execution and renewal management to maintain stability.
Rent levels remain accessible relative to local incomes, and home values in this neighborhood are lower than many national peers. In investor terms, the high-cost barrier to ownership is not the primary driver here; instead, renter demand is supported by lifestyle convenience and the area s strong amenity mix. This can aid lease-up velocity but may limit near-term pricing power compared with high-cost ownership markets.
Within a 3-mile radius, households have grown modestly even as average household size trends lower, broadening the number of renting households and helping sustain occupancy. Forward-looking indicators point to additional household growth and a smaller average household size, which typically expands the renter pool and supports baseline demand for smaller units.
Neighborhood safety indicators compare favorably at the national level, with overall crime metrics placing the area in the top quartile of neighborhoods nationwide based on CRE market data from WDSuite. Within the Texarkana metro, the neighborhood s crime position sits in the healthier half of the distribution (ranked 31st of 76), and recent year-over-year readings show notable declines in both property and violent offenses. For investors, this trend reduces downside risk to leasing and renewals, though prudent on-site security and lighting standards remain best practice.
The neighborhood s workforce draw and commute convenience support renter demand. Specific nearby employer listings with measured distances are not available in this data pull, but the local employment base contributes to stable occupancy and renewal potential.
Built in 1983, the property is older than the neighborhood s average vintage, which points to potential value-add and capital planning opportunities that can enhance competitiveness against newer stock. Demand-side fundamentals are supported by a high renter concentration at the neighborhood level and steady household growth within a 3-mile radius , which together help sustain a broad tenant base and occupancy stability. According to CRE market data from WDSuite, local rent levels remain positioned for value, while amenity access is a relative strength that supports retention.
Key considerations include a neighborhood occupancy rate that trails the metro median, implying an emphasis on leasing execution, renewals, and unit turns. Lower home values can create some competition with entry-level ownership, so underwriting should focus on the property s value proposition, amenity upgrades, and operational consistency.
- High neighborhood renter concentration supports a deep tenant base and demand resilience.
- 1983 vintage offers clear value-add and capex planning angles to improve competitiveness.
- Amenity-rich location (1st of 76 in the metro) aids leasing and retention.
- Household growth within 3 miles and smaller household sizes expand the renter pool over time.
- Risk: Neighborhood occupancy ranks below metro median, requiring strong leasing and renewal execution; ownership alternatives may temper pricing power.