| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 54th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1013 15th Pl, Plano, TX, 75074, US |
| Region / Metro | Plano |
| Year of Construction | 2000 |
| Units | 107 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1013 15th Pl Plano Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand, with occupancy in the surrounding area running tight and renter-occupied housing concentrations supporting leasing stability, according to WDSuite’s CRE market data.
Plano’s Inner Suburb setting supports daily convenience and renter appeal. Neighborhood amenity access skews strong for food and essentials — grocery presence ranks in the top tier nationally and restaurants are similarly dense — while cafes and childcare options track above average. These local dynamics typically help with retention and leasing velocity for well-managed assets.
For investors, the neighborhood’s apartment occupancy is high (96.6% for the neighborhood, not the property), and the share of housing units that are renter-occupied is elevated (78.5%). Together, that indicates a deep tenant base and supports pricing power, especially for assets positioned near everyday services. The property’s 2000 vintage is newer than the neighborhood’s average construction year of 1980, suggesting competitive positioning versus older stock; investors should still plan for modernization of systems and common areas as part of the capital program.
Within a 3-mile radius, demographics point to a larger tenant base over time: population has grown and is projected to continue expanding, with households up meaningfully and forecast to rise further. Median household income has increased, and rents in the area have climbed alongside it, which supports occupancy stability but calls for attentive lease management where rent-to-income ratios approach the mid-20s. Elevated home values relative to incomes in the neighborhood context reinforce reliance on multifamily housing, which can aid retention.
Compared with the Dallas–Plano–Irving metro, the neighborhood rates A- overall and is competitive among metro neighborhoods given its rank of 260 out of 1,108. Nationally, housing and amenities score in the upper percentiles, while broader demographics trend modestly above average. These factors, taken together with local convenience and newer-vintage competition, frame a straightforward commercial real estate analysis: demand depth is supportive, with incremental upside from targeted upgrades and disciplined operations.
Safety indicators are mixed when viewed against national benchmarks. Neighborhood crime metrics sit below the national median (national percentiles around the low 40s for overall crime), with violent and property offense percentiles lower nationally. However, year-over-year trends show meaningful declines in both violent and property incidents, signaling improvement that investors can monitor alongside on-site security and resident engagement practices.
Within the Dallas–Plano–Irving metro context, this translates to a submarket where risk management matters but recent directionality is constructive. For underwriting, pair conservative assumptions with practical mitigations (lighting, access controls, and partnership with local resources) and track whether the recent improvement persists.
Nearby employers span defense, electronics distribution, life sciences, and consumer products — a diversified base that supports renter demand through commute convenience and varied wage bands. The list below reflects key anchors closest to the property.
- Raytheon — defense & aerospace (1.5 miles)
- Avnet Electronics — electronics distribution (2.8 miles)
- General Dynamics — defense & aerospace offices (3.2 miles)
- Thermo Fisher Scientific — life sciences (3.8 miles)
- Dr Pepper Snapple Group — consumer beverages (7.1 miles) — HQ
This 107-unit, 2000-vintage asset benefits from a renter-heavy neighborhood, tight area occupancy, and strong proximity to daily needs — all supportive of stable cash flows. The property’s newer vintage versus nearby 1980s stock can provide a competitive edge on operations and leasing, while selective renovations and system updates can unlock value-add potential. According to CRE market data from WDSuite, the neighborhood posts upper-tier amenity access and high occupancy, reinforcing the case for steady demand.
Within a 3-mile radius, population and household counts have risen and are forecast to grow further, indicating a larger tenant base over the next five years. Income gains and elevated for-sale home values in the neighborhood context buttress multifamily reliance, while rent levels suggest manageable affordability pressure when paired with measured renewal strategies. Key risks include local safety metrics that, while improving, warrant prudent on-site measures and conservative underwriting.
- Renter-occupied share and tight neighborhood occupancy support leasing stability
- 2000 vintage competes well versus older local stock with targeted upgrade upside
- Strong amenity access (groceries, restaurants) aids retention and daily convenience
- 3-mile population and household growth expand the tenant base over time