| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 91st | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5720 Bozeman Dr, Plano, TX, 75024, US |
| Region / Metro | Plano |
| Year of Construction | 2008 |
| Units | 116 |
| Transaction Date | 2014-12-30 |
| Transaction Price | $41,250,000 |
| Buyer | LEGACY MULTIFAMILY NORTH II LLC |
| Seller | LEGACY NORTH PT MFA II LP |
5720 Bozeman Dr, Plano TX Multifamily Investment
Located in a high-performing Plano inner-suburb pocket with deep renter demand and proximity to major employers, this 116-unit, 2008-vintage asset offers operational upside versus newer nearby stock. Neighborhood fundamentals point to durable leasing potential, according to CRE market data from WDSuite.
The property sits in an Inner Suburb location ranked 15th among 1,108 Dallas–Plano–Irving neighborhoods, reflecting strong overall neighborhood quality. Dining and daily-needs access are a clear strength: restaurant and cafe density track in the top percentiles nationally, while groceries and pharmacies are also above national averages. Park access is limited locally, which may require compensating amenities onsite for outdoor recreation.
With a neighborhood average construction year of 2016, nearby assets skew newer than this property’s 2008 vintage. That age gap can be a lever for value-add, targeting interiors, common areas, and building systems to improve competitive positioning against more recent deliveries.
Unit tenure dynamics favor multifamily: the neighborhood’s share of renter-occupied housing is very high (ranked 64 of 1,108 in the metro and 99th percentile nationally). For investors, that indicates a deep tenant base and generally resilient renter demand, supporting leasing velocity and renewals when pricing is managed carefully.
Within a 3-mile radius, population and households have expanded, with households outpacing population growth and average household size trending smaller. Projections point to continued growth in households through 2028, suggesting a larger tenant base and sustained demand for rental units. Median household incomes are high in the trade area, which can support rent levels while containing affordability pressure.
Home values in the immediate neighborhood rate in the high national percentiles and the value-to-income ratio is elevated relative to national norms. In practical terms, this is a high-cost ownership market that tends to reinforce reliance on multifamily housing, bolstering tenant retention and pricing power for well-positioned assets.
Neighborhood safety indicators compare modestly favorably to national averages, with crime performance around the 57th percentile nationwide. Within the Dallas–Plano–Irving metro, the area’s crime rank (225th of 1,108 neighborhoods) places it above the metro median.
Recent trend data show notable improvements: both property and violent offense rates have declined year over year, with property crime down sharply and violent incidents also easing. While no block-level conclusions are drawn here, the directional trend is constructive for resident sentiment and leasing stability.
Proximity to major corporate offices underpins weekday demand and commute convenience, supporting workforce housing dynamics and resident retention. Nearby employers include Alliance Data Systems, Hewlett Packard Enterprise, J.C. Penney, Dr Pepper Snapple Group, and Yum China Holdings.
- Alliance Data Systems — corporate offices (0.26 miles) — HQ
- Hewlett Packard Enterprise — corporate offices (0.63 miles)
- J.C. Penney — corporate offices (0.73 miles) — HQ
- Dr Pepper Snapple Group — corporate offices (0.93 miles) — HQ
- Yum China Holdings — corporate offices (1.06 miles) — HQ
This 116-unit asset benefits from a top-ranked Plano neighborhood with strong amenity access, high-income demographics, and a very deep renter pool. The 2008 construction is older than nearby stock, creating a clear path for value-add to close the competitive gap with 2010s-vintage peers. High ownership costs locally tend to sustain multifamily reliance, supporting lease retention and pricing discipline as households continue to grow within a 3-mile radius. According to CRE market data from WDSuite, neighborhood renter concentration sits near the top nationally while incomes remain strong, aligning with durable demand for professionally managed apartments.
Key considerations include softer neighborhood occupancy compared with the metro’s stronger submarkets, making asset-level operations, renewals, and amenity programming important to outperform. Execution that highlights commute access to nearby employers and targeted renovations should enhance absorption and rent positioning versus newer comparables.
- High-income, growing 3-mile renter base supports demand and renewal potential
- 2008 vintage offers value-add and modernization upside versus newer local stock
- High-cost ownership market reinforces reliance on rental housing and pricing power
- Walkable access to multiple Fortune 1000 employers enhances leasing velocity
- Risk: neighborhood occupancy trails stronger submarkets, requiring focused lease management