| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 58th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2520 Virginia Pkwy, McKinney, TX, 75071, US |
| Region / Metro | McKinney |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2007-08-06 |
| Transaction Price | $2,625,000 |
| Buyer | VIRGINIA OAK VENTURE LLC |
| Seller | UNITED VENTURE PARTNERS LLC |
2520 Virginia Pkwy McKinney Multifamily Investment
Inner-suburban McKinney shows resilient renter demand and stable leasing drivers, based on CRE market data from WDSuite, with top-quartile neighborhood fundamentals and operational upside to enhance occupancy and pricing.
The property is located in an Inner Suburb of McKinney that ranks in the top quartile among 1,108 Dallas–Plano–Irving neighborhoods (A- rating). Daily-needs access is a strength: grocery availability sits in a high national percentile, with supportive density of cafes, restaurants, and childcare. Average school ratings are slightly above the national median, which can aid family retention without over-reliance on premium school-driven demand.
The building’s 1974 vintage is older than the neighborhood’s average construction year of 1997. That age spread typically supports a value-add plan—interior refresh, exterior improvements, and targeted systems work—while requiring prudent capital planning to remain competitive versus newer stock.
Tenure data indicates a balanced renter base. At the neighborhood level, a notable share of housing units are renter-occupied, and within a 3-mile radius renters account for roughly two-fifths of occupied units. For investors, this points to a durable tenant pool for smaller-format units and renewals.
Demographics aggregated within 3 miles show recent increases in population and households, with forecasts calling for continued household growth through 2028 and a gradual reduction in average household size. This combination often expands the renter pool and supports occupancy stability across studio and one-bedroom product.
Ownership costs are comparatively elevated versus many U.S. neighborhoods and neighborhood-level rents trend in a high national percentile, which together can sustain reliance on multifamily housing. However, the neighborhood’s occupancy rate sits below the national median, suggesting leasing results will be most durable where operations emphasize merchandising, customer service, and retention rather than assuming automatic lease-up strength.
Relative to national norms, the neighborhood’s safety profile trends below the median, and it ranks in the lower half among 1,108 Dallas–Plano–Irving neighborhoods. In comparative terms, investors should underwrite with a conservative stance rather than expecting safety-led demand tailwinds.
Recent estimates indicate year-over-year increases in both property and violent offense rates. Practical measures—lighting, access control, visibility, and community engagement—can mitigate risk and support resident retention, while ongoing monitoring of trend direction remains prudent.
Proximity to major employers supports workforce housing demand and commute convenience, led by defense/aerospace, telecom infrastructure, and consumer/medical corporate offices listed below.
- Raytheon Company — defense & aerospace (1.1 miles)
- AT&T Datacenter — telecom infrastructure (7.5 miles)
- Dr Pepper Snapple Group — consumer beverages (12.5 miles) — HQ
- St Jude Medical — medical devices (12.7 miles)
- Hewlett Packard Enterprise — enterprise technology (13.1 miles)
2520 Virginia Pkwy offers a value-add angle in a top-quartile McKinney neighborhood where daily-needs access and diversified employment underpin leasing. According to CRE market data from WDSuite, neighborhood rents index high nationally while the local occupancy rate leaves room for management-driven gains—positioning a renovated 1970s asset to compete against newer stock with the right finishes and resident experience.
Within a 3-mile radius, population and household counts have grown and are projected to rise further, with smaller average household size supporting demand for efficient floor plans. The area’s relatively elevated ownership costs reinforce reliance on multifamily, aiding rent durability, while investors should budget for 1970s-vintage systems and emphasize on-site safety practices given below-median safety readings.
- Top-quartile neighborhood among 1,108 metro areas supports demand and pricing power
- 1974 vintage creates clear value-add and capex-driven repositioning potential versus 1990s-era competition
- 3-mile demographics show growing households and a sizable renter-occupied base, supporting occupancy stability
- Employer proximity (defense/aerospace, telecom, consumer/medical) underpins workforce renter demand
- Risks: below-national-median safety and sub-median neighborhood occupancy require proactive operations and retention