| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 41st | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1504 E 15th St, Plano, TX, 75074, US |
| Region / Metro | Plano |
| Year of Construction | 1983 |
| Units | 20 |
| Transaction Date | 2018-11-16 |
| Transaction Price | $1,715,000 |
| Buyer | CY TOWNHOMES LLC |
| Seller | TEXAS STAR TOWNHOMES LLC |
1504 E 15th St, Plano 20-Unit Multifamily Opportunity
Neighborhood occupancy is tight and durable, with the area posting a 98.3% rate and ranking in the 91st percentile nationally, according to WDSuite s CRE market data. For investors, that signals leasing stability in an Inner Suburb location with consistent renter demand.
Situated in Plano s Inner Suburb fabric, the neighborhood holds a B+ rating and is competitive among Dallas Plano Irving neighborhoods (rank 319 of 1,108). The renter-occupied share stands at 55.6% (top decile nationally), indicating a deep tenant base that supports consistent absorption and renewal prospects for multifamily assets.
Local livability supports retention: restaurants and groceries are dense by regional standards (both above the 90th national percentile), and parks and pharmacies score in the mid-80s percentiles. Caf density is thin, but day-to-day convenience is strong for workforce households. Average school ratings in the area are mixed (around the 37th national percentile), which can matter for family-oriented leasing but is less determinative for smaller unit mixes.
Rents and vacancies in the surrounding neighborhood point to durable demand: occupancy is 98.3% and has improved over the last five years, placing the area well above metro medians. Median contract rents are above the national median (upper 60s percentile), while a rent-to-income ratio near 0.21 suggests manageable affordability pressure a constructive backdrop for lease retention and measured pricing power.
Within a 3-mile radius, demographics show a growing and increasingly affluent renter pool. Population has expanded in recent years with further growth projected, households are rising faster than population (pointing to smaller household sizes and more renters entering the market), and median household incomes are advancing. These trends support ongoing demand for rental housing and occupancy stability, based on commercial real estate analysis from WDSuite s dataset.
Home values in the neighborhood sit above national medians and ownership costs are elevated relative to incomes (upper-third nationally on value-to-income), which tends to reinforce reliance on rental options. For investors, that dynamic can sustain depth of demand and reduce volatility in lease-up for well-positioned properties.
Safety indicators are comparatively favorable versus the metro and modestly better than national averages. The neighborhood s crime rank sits in the safer tier locally (rank 239 out of 1,108 Dallas Plano Irving neighborhoods), and overall safety aligns around the 56th percentile nationally. Recent trend data shows notable improvement, with both property and violent offense rates declining year over year.
While property crime levels benchmark below the national median (lower percentiles indicate higher incidence), the strong downward trend in the past year suggests conditions are improving. Investors should underwrite routine security and lighting measures typical for Inner Suburb assets, while recognizing that current trajectories point to incremental risk moderation.
Proximity to established employers underpins workforce housing demand and commute convenience. Nearby corporate offices include Raytheon, Avnet Electronics, Raytheon Company, General Dynamics, and Thermo Fisher Scientific all within a short drive that supports tenant retention and leasing stability.
- Raytheon defense & aerospace offices (1.3 miles)
- Avnet Electronics electronics distribution (2.4 miles)
- Raytheon Company defense & aerospace offices (3.1 miles)
- General Dynamics defense & aerospace offices (3.2 miles)
- Thermo Fisher Scientific life sciences & instrumentation (3.8 miles)
Built in 1983, this 20-unit asset is slightly newer than the area s average vintage, but investors should plan for targeted system updates and interior refreshes to enhance competitiveness versus newer stock. The surrounding neighborhood exhibits high occupancy (91st percentile nationally) and a renter-occupied share above 55%, supporting depth of demand and steady renewals. Within a 3-mile radius, population and household growth along with rising incomes point to a larger tenant base and ongoing leasing stability.
Elevated ownership costs relative to incomes locally help sustain reliance on rentals, and rent-to-income metrics indicate manageable affordability pressure a constructive setup for pricing discipline and retention. According to CRE market data from WDSuite, amenity access is strong for daily needs, and near-term safety trends are improving, which can support tenant satisfaction and reduce turnover risk.
- Tight neighborhood occupancy and strong renter concentration underpin leasing stability
- 1983 vintage offers value-add potential through systems and interior updates
- 3-mile growth in households and incomes expands the tenant base and supports renewals
- Ownership costs vs. income sustain rental demand, aiding pricing discipline
- Risks: aging asset capex, mixed school ratings, and historically elevated property crime despite recent improvement