| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 82nd | Best |
| Amenities | 33rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 Convention Dr, Fairview, TX, 75069, US |
| Region / Metro | Fairview |
| Year of Construction | 2008 |
| Units | 96 |
| Transaction Date | 2017-10-18 |
| Transaction Price | $52,812,500 |
| Buyer | LANTOWER MANAGEMENT SERVICES LP |
| Seller | GARDENS MULTIFAMILY DALLAS LP |
250 Convention Dr, Fairview TX Multifamily Investment
Positioned in a top-quartile Dallas-Plano-Irving neighborhood with high-income households and strong schools, the asset benefits from durable renter demand and pricing support according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near national medians, suggesting stable but competitive leasing conditions.
The property sits in an A- rated, suburban neighborhood that ranks 238 out of 1,108 Dallas-Plano-Irving neighborhoods—top quartile metro positioning that typically supports steady renter interest and liquidity. Local school quality ranks first among 1,108 metro neighborhoods and is top-tier nationally, a factor that often correlates with tenant retention for family-oriented units.
Livability indicators are mixed: restaurants and grocery access trend above national averages, while parks are comparatively available. Cafes and pharmacies are sparser, which may temper some convenience expectations but is unlikely to materially impair demand given the broader amenity base within the metro.
Within a 3-mile radius, recent population and household growth, alongside rising median incomes, point to a larger tenant base and reinforce leasing fundamentals. Looking ahead, forecasts indicate further population expansion and a notable increase in households, which should expand the renter pool and help support occupancy stability.
Median home values in the neighborhood are elevated relative to national peers, and median contract rents benchmark high as well. In a high-cost ownership market, this tends to sustain reliance on multifamily housing, with the area’s rent-to-income dynamics indicating manageable affordability pressure that can aid lease retention and revenue stability.
The property’s 2008 vintage is newer than the neighborhood’s average construction year of 1998, offering relative competitiveness versus older stock; investors should still plan for selective modernization and systems updates typical for assets of this age.
Safety metrics are competitive among Dallas-Plano-Irving neighborhoods, with the area’s ranking placing it in a stronger position than many peers (313 out of 1,108). Nationally, violent offense indicators trend slightly better than the median, while property offense levels track comfortably above the national median for safety. Recent year-over-year changes show some increases, so underwriting should consider modest variability rather than assuming linear improvement.
Nearby corporate nodes provide a diversified employment base that supports renter demand and commute convenience, including telecom/data infrastructure, defense and aerospace offices, medical devices, beverages, and marketing/financial services.
- AT&T Datacenter — telecom & data infrastructure (3.43 miles)
- Raytheon Company — defense & aerospace offices (5.38 miles)
- St Jude Medical — medical devices (9.78 miles)
- Dr Pepper Snapple Group — beverages (9.85 miles) — HQ
- Alliance Data Systems — marketing & financial services (10.71 miles) — HQ
This 96-unit asset combines top-quartile neighborhood positioning in the Dallas-Plano-Irving metro with strong school quality and high-income households, supporting a durable renter base. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends are near national medians, suggesting steady leasing with manageable competition. Elevated home values reinforce reliance on multifamily, while rent-to-income dynamics indicate balanced affordability that can aid retention.
Constructed in 2008, the property is newer than the local average, providing relative competitiveness against older assets while leaving room for targeted renovations and systems upgrades to capture value. Within a 3-mile radius, recent and forecast growth in population and households point to renter pool expansion, which should support occupancy stability and pricing power over the medium term.
- Top-quartile neighborhood rank (238 of 1,108) with strong schools and high-income households
- Elevated ownership costs sustain multifamily demand; balanced rent-to-income supports retention
- 2008 vintage offers competitive positioning with value-add potential via targeted modernization
- 3-mile demographic growth expands the tenant base, supporting occupancy stability
- Risks: amenities are uneven and safety indicators show recent upticks—underwrite leasing and OPEX accordingly