| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 62nd | Good |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1717 Independence Pkwy, Plano, TX, 75075, US |
| Region / Metro | Plano |
| Year of Construction | 1978 |
| Units | 88 |
| Transaction Date | 2007-09-27 |
| Transaction Price | $12,625,000 |
| Buyer | MOSAIC VENTURE I-PP LLC |
| Seller | VILLAS OF PLANO LP |
1717 Independence Pkwy Plano Multifamily Investment Thesis
Renter demand is supported by a high neighborhood renter-occupied share and stable occupancy levels, according to WDSuite's CRE market data. The location's Inner Suburb profile in Plano positions the asset for steady leasing with potential upside through selective upgrades.
Plano's Inner Suburb location provides everyday convenience and broad access to regional job centers, while immediate-block retail variety skews more toward restaurants than cafes or neighborhood services. Neighborhood restaurant density is competitive nationally, though cafe, grocery, park, and pharmacy options are thinner at the micro level, which may modestly influence walkable appeal but is offset by short drives to amenities common in Collin County.
For investors, the local renter-occupied share is high at the neighborhood level, indicating a deep tenant base that supports leasing continuity. Neighborhood occupancy is in a mid-range band for the Dallas–Plano–Irving metro and sits above metro median relative to many submarkets, which aligns with steady—if not peak—stability for comparable assets. Median contract rents benchmark somewhat above national norms, reinforcing the area's ability to sustain market-rate product without overextending typical household budgets.
Within a 3-mile radius, WDSuite data shows modest recent population growth and a continued increase in households, with projections calling for further household expansion and a slightly smaller average household size. This combination generally enlarges the renter pool and supports occupancy stability for well-managed assets. Median incomes in the 3-mile area are strong by national standards, and rent-to-income conditions indicate manageable affordability pressure—supportive of retention and measured pricing power.
Ownership costs in the neighborhood are elevated relative to many national markets, which tends to sustain reliance on multifamily rentals and can aid lease-up and renewal performance. At the metro scale, the neighborhood's overall standing is above the median among 1,108 Dallas–Plano–Irving neighborhoods, signaling competitive fundamentals without implying top-tier positioning. Based on commercial real estate analysis from WDSuite, investors should view this pocket as driven by jobs access and income strength, with value enhanced through property-level execution.
Vintage and value-add implications: The asset's 1978 construction is slightly older than the neighborhood average vintage. That age profile typically warrants capital planning for systems and common areas, while creating room for renovation-driven rent lifts versus newer competitive stock.
Schools and services: Average school ratings in this neighborhood trail national benchmarks, which can moderate appeal for family renters; however, workforce households anchored by nearby employment centers remain a consistent demand driver.
Safety indicators are mixed when viewed across metro and national frames. Within the Dallas–Plano–Irving metro's 1,108 neighborhoods, the area's crime rank sits in the lower quartile, indicating higher incident levels than many metro peers. Nationally, overall positioning trends closer to the middle of the pack, with offense rates nearer to national averages than to the safest cohorts.
Directionally, recent data from WDSuite shows a notable year-over-year decline in property offenses, a positive trend that is competitive among regional peers and supportive of day-to-day livability. Investors should continue to monitor local trends and maintain property-level measures—such as lighting, access control, and coordination with neighborhood programs—to support tenant confidence.
Proximity to diversified employers underpins workforce housing demand and supports retention through short commutes. Nearby anchors include medical devices, defense and aerospace offices, beverages, and enterprise technology.
- St Jude Medical — medical devices (4.0 miles)
- Raytheon — defense & aerospace offices (4.0 miles)
- General Dynamics — defense & aerospace offices (4.5 miles)
- Dr Pepper Snapple Group — beverages (4.7 miles) — HQ
- Hewlett Packard Enterprise — enterprise technology (5.0 miles)
This 88-unit asset sits in a Plano neighborhood with a high renter-occupied share and mid-range occupancy, supporting ongoing demand for well-managed workforce and market-rate units. Within 3 miles, population and household counts have been increasing and are projected to continue rising, which expands the tenant base and supports occupancy stability. Elevated local ownership costs relative to many national markets further reinforce reliance on multifamily rentals and can aid lease retention.
Built in 1978, the property may benefit from targeted capital improvements to common areas, building systems, and interiors—creating a path for value-add positioning against newer competition. According to CRE market data from WDSuite, neighborhood rents benchmark above national norms while rent-to-income conditions remain manageable, suggesting room for disciplined revenue growth with attention to lease management and renewal strategy. Key watch items include softer school ratings and limited immediate-block amenity breadth for daily services.
- Deep neighborhood renter base and mid-range occupancy support steady leasing
- 3-mile household growth and strong incomes expand the tenant pool
- 1978 vintage offers value-add potential through targeted renovations
- Elevated ownership costs sustain multifamily demand and renewal prospects
- Risks: below-average school ratings and thinner immediate-block amenities