| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 67th | Good |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 804 W Walnut St, Celina, TX, 75009, US |
| Region / Metro | Celina |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
804 W Walnut St Celina TX 24-Unit Multifamily
Neighborhood occupancy trends are steady and renter demand is driven by ongoing household growth and high incomes, according to WDSuite’s CRE market data. The propertys suburban setting offers stability with room for value-add execution.
Celina sits within the DallasPlanoIrving metro and shows above-median neighborhood occupancy (around the low-90% range), indicating generally stable leasing conditions at the neighborhood level based on WDSuites CRE market data. The local restaurant density is competitive versus many suburbs (around the 70th percentile nationally), while other day-to-day amenities (cafes, parks, pharmacies) are limited within the immediate area, pointing to a quieter suburban profile.
Vintage matters here: this asset was built in 1984, while the surrounding neighborhoods average construction year trends newer (early 1990s). That age gap points to potential value-add and capital planning opportunitiesmodernizations can sharpen positioning versus newer stock and support retention as the tenant base expands.
Within a 3-mile radius, population and household counts have expanded significantly over the past cycle and are projected to continue rising, implying a larger tenant base ahead and support for occupancy stability. The area skews higher income, with a sizable share of households in upper brackets; this underpins ability-to-pay and reduces downside risk in lease collections as rents reset over time. Median asking rents in the 3-mile area have risen over the last five years, reinforcing durable demand.
Tenure dynamics are notable: renter-occupied housing represents a relatively small share of units in and around Celina, which signals limited direct competition among renters but also a thinner renter pool compared with more urban submarkets. For investors, this mix suggests durable workforce and family demand with measured absorption expectations rather than rapid lease-up velocity. Home values in the neighborhood are moderate relative to incomes, which can increase competition from ownership; pricing strategy and amenity improvements will be important to maintain leasing momentum and renewal rates.
Schools in the area rate around average, and overall neighborhood fundamentals are competitive among DallasPlanoIrving suburbs. Taken togethersteady occupancy, rising household counts, and room for targeted renovationsframe an attractive long-term hold case, while acknowledging amenity limitations and owner-tilted tenure as the key considerations.
Safety indicators compare favorably to many U.S. neighborhoods overall, with the area sitting in the upper half nationally. Property crime rates have declined meaningfully over the past year, placing the neighborhood among the stronger national improvers. Violent offense readings track closer to the national middle, warranting standard risk management but not signaling outsized volatility.
Within the DallasPlanoIrving metro (1,108 neighborhoods), recent trends position the area as competitive for suburban renters who prioritize stability. For investors, the takeaway is pragmatic: monitor local policing and community initiatives, underwrite to normalized assumptions, and lean on visibility enhancements and access control as part of capital planning for a 1980s-vintage asset.
Regional employment is anchored by nearby corporate offices that support commuting tenants and leasing stability, including Raytheon, Alliance Data Systems, J.C. Penney, AT&T Datacenter, and Dr Pepper Snapple Group. Proximity to these employers broadens the potential renter base across defense, retail headquarters, and telecom/technology functions.
- Raytheon Company defense & aerospace offices (11.3 miles)
- Alliance Data Systems corporate offices (16.9 miles) HQ
- J.C. Penney corporate offices (16.9 miles) HQ
- AT&T Datacenter telecom & data infrastructure (17.0 miles)
- Dr Pepper Snapple Group beverage corporate offices (17.2 miles) HQ
804 W Walnut St combines steady neighborhood occupancy with strong 3-mile population and household growth, supporting a larger tenant base and consistent lease renewals. Built in 1984, the property is older than the neighborhood average and presents practical value-add opportunitiesunit updates and systems modernization can improve competitive positioning versus newer suburban product. According to CRE market data from WDSuite, the areas income profile is high relative to many suburbs, reinforcing rent collections and pricing power when paired with thoughtful amenity upgrades.
The submarkets owner-tilted housing stock and moderate home values mean some competition from ownership, but corporate employment nodes within roughly 112 miles broaden the renter pool across professional segments. Underwriting that accounts for measured absorption, amenity-light surroundings, and targeted capex can position this 24-unit asset for durable performance in a growing suburban corridor.
- Neighborhood occupancy in the low-90% range supports stable leasing and renewals.
- 1984 vintage offers clear value-add levers through interior and systems updates.
- High-income 3-mile demographics expand the qualified renter base and support rent levels.
- Proximity to multiple corporate offices underpins demand from commuting professionals.
- Risks: owner-tilted tenure and limited nearby amenities may temper lease-up velocity; plan for targeted capex and competitive pricing.