| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 35th | Poor |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 E Hazelwood St, Princeton, TX, 75407, US |
| Region / Metro | Princeton |
| Year of Construction | 1985 |
| Units | 34 |
| Transaction Date | 2018-10-16 |
| Transaction Price | $1,875,000 |
| Buyer | SKANDA HOLDINGS LLC |
| Seller | TENANT LANDLORD CONNECTION PROPERTIES LL |
500 E Hazelwood St Princeton Multifamily Investment Opportunity
Neighborhood occupancy is strong and renter demand is supported by a growing household base, according to WDSuite’s CRE market data. The 1985 vintage positions this asset for practical value-add and capex planning in a suburban Collin County location.
Located in suburban Princeton within the Dallas–Plano–Irving metro, the property sits in a neighborhood rated B- and positioned mid-pack among 1,108 metro neighborhoods. Neighborhood occupancy trends are well above national norms, a positive signal for leasing stability and renewal performance. Median asking rents benchmark above national levels, suggesting pricing power when paired with disciplined operations.
Local amenity coverage is serviceable rather than destination-driven: grocery and pharmacy access track slightly above national averages, while restaurants land near the national midpoint. Cafés and childcare density are relatively light, which is typical for low-rise suburban pockets and implies most residents make short drives for a broader amenity set.
The area’s housing stock skews newer (average construction year 2008), while the subject was built in 1985. For investors, that gap highlights potential value-add through interior modernization and systems upgrades to remain competitive against younger product, while still leveraging the neighborhood’s strong occupancy foundation.
Tenure patterns indicate a modest renter-occupied share within the neighborhood, pointing to a primarily ownership-oriented area. However, demographics aggregated within a 3-mile radius show robust population and household growth over recent years with further expansion projected, which supports a larger tenant base and helps underpin occupancy over time.
Home values are elevated relative to local incomes (high value-to-income percentile), and rent-to-income metrics trend on the more manageable side. For multifamily owners, that mix typically sustains reliance on rental housing while aiding retention and day-to-day lease management.
Comparable safety data for this neighborhood is not available in WDSuite’s current release. Investors typically benchmark conditions against broader Dallas–Plano–Irving metro trends and city resources, and consider property-level measures (lighting, access control, and management presence) when underwriting.
Nearby employers provide a diversified white-collar and technical employment base that supports workforce housing demand and commute convenience, including Raytheon Company, AT&T Datacenter, Avnet Electronics, General Dynamics, and Dr Pepper Snapple Group.
- Raytheon Company — defense & aerospace (9.5 miles)
- AT&T Datacenter — data center operations (12.3 miles)
- Avnet Electronics — electronics distribution (15.9 miles)
- General Dynamics — defense & aerospace offices (18.3 miles)
- Dr Pepper Snapple Group — beverages corporate offices (19.2 miles) — HQ
This 34-unit, 1985-vintage asset offers operational upside in a suburban Collin County setting where neighborhood occupancy trends run above national norms, according to CRE market data from WDSuite. The area’s newer competitive set (average 2008) creates a clear pathway for targeted renovations to narrow the quality gap while leveraging steady renter demand.
Within a 3-mile radius, strong population and household growth — with additional expansion projected through 2028 — supports a larger tenant base, while a high-cost ownership landscape helps sustain reliance on rental housing. Rent-to-income dynamics read as manageable, which can aid lease retention and day-to-day pricing decisions, though the neighborhood’s modest renter concentration means leasing performance will rely on continued in-migration and household growth.
- Above-national occupancy trends support stable collections and renewals
- 1985 vintage versus newer area stock sets up clear value-add
- 3-mile population and household growth enlarges the renter pool
- Risk: modest neighborhood renter concentration may temper lease-up velocity without in-migration