| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 59th | Good |
| Amenities | 53rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3392 Medical Center Dr, McKinney, TX, 75069, US |
| Region / Metro | McKinney |
| Year of Construction | 2011 |
| Units | 97 |
| Transaction Date | 2014-09-02 |
| Transaction Price | $19,100,000 |
| Buyer | --- |
| Seller | --- |
3392 Medical Center Dr, McKinney TX Multifamily Investment
Stabilized renter demand and a newer 2011 vintage support competitive positioning relative to older neighborhood stock, according to WDSuite’s CRE market data. Investor focus: steady tenant base and operational consistency in an Inner Suburb location.
This Inner Suburb neighborhood ranks 246 out of 1,108 Dallas–Plano–Irving neighborhoods, placing it in the top quartile metro-wide with an A- neighborhood rating. Cafes, groceries, and pharmacies score above national medians (neighborhood-level), indicating convenient daily amenities, while limited park and childcare access may modestly affect family-oriented appeal. These metrics are measured for the neighborhood, not the property.
Rents in the neighborhood track above national medians, and the local rent-to-income profile suggests manageable affordability pressure that can help lease retention. The area’s renter-occupied share is high for the metro, signaling a deep tenant base and resilient multifamily demand rather than owner-centric dynamics. Home values and value-to-income trends indicate a higher-cost ownership market compared with many U.S. neighborhoods, which typically sustains reliance on rental housing and supports pricing power.
Within a 3-mile radius, population and households have expanded over the last five years and are projected to grow further, pointing to a larger tenant base and demand for rental units. Forward-looking household gains alongside a gradual decrease in average household size suggest more households entering the market, which can support occupancy stability and absorption.
The average neighborhood construction year is 2006. With a 2011 completion, the subject property is newer than nearby stock, offering relative competitiveness and potentially lower near-term capital needs, while investors should still plan for system refreshes and selective updates. Housing fundamentals (nationally top-quartile neighborhood-level housing score) and NOI per unit metrics that rate strongly versus national peers, based on CRE market data from WDSuite, reinforce the submarket’s long-term multifamily positioning.
Neighborhood safety indicators trail national averages, with violent and property offense measures sitting in the lower national percentiles (neighborhood-level). This suggests conditions that are less favorable than many U.S. neighborhoods. Year-over-year estimates indicate a recent uptick in both violent and property offenses at the neighborhood level. These figures reflect broader neighborhood trends rather than conditions specific to the property.
For investors, this context underscores the importance of proactive security posture, lighting and access controls, and resident engagement. Monitoring trends relative to the Dallas–Plano–Irving metro and aligning operating standards to institutional best practices can help support retention and stabilize performance over the hold period.
Nearby corporate offices provide a diversified employment base that supports leasing velocity and retention, particularly for residents seeking commute convenience to Raytheon, AT&T Datacenter, Dr Pepper Snapple Group, St Jude Medical, and Alliance Data Systems.
- Raytheon Company — defense & aerospace offices (3.24 miles)
- AT&T Datacenter — data infrastructure (5.81 miles)
- Raytheon Company — defense & aerospace offices (7.95 miles)
- Dr Pepper Snapple Group — beverage corporate offices (11.72 miles) — HQ
- St Jude Medical — medical devices (11.74 miles)
- Alliance Data Systems — marketing & payments (12.46 miles) — HQ
Built in 2011 with 97 units, the property is newer than the neighborhood’s average vintage, supporting competitive positioning versus older stock and potentially moderating near-term capital planning. Neighborhood-level renter concentration is elevated, indicating a deep tenant base and resilient demand for multifamily units, while rents trend above national medians and ownership costs skew higher than many U.S. areas—factors that can sustain occupancy and pricing power. According to CRE market data from WDSuite, overall neighborhood fundamentals rank in the metro’s top quartile, while occupancy levels sit closer to national medians, reinforcing a steady—rather than speculative—thesis.
Within a 3-mile radius, recent and projected increases in population and households point to renter pool expansion that can support absorption and lease-up over time. Amenity access is solid for daily needs, though limited parks and childcare availability, modest school ratings, and below-average safety indicators at the neighborhood level warrant prudent operating practices and asset positioning.
- 2011 vintage offers relative competitiveness vs. older neighborhood stock with potential for targeted upgrades
- Strong renter-occupied share signals depth of tenant base and demand stability
- Household and population growth within 3 miles support absorption and occupancy over time
- Higher-cost ownership landscape supports sustained rental demand and pricing power
- Risks: below-average neighborhood safety metrics and limited parks/childcare; mitigate via security, resident programming, and asset management