| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 85th | Best |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 W Renner Rd, Richardson, TX, 75080, US |
| Region / Metro | Richardson |
| Year of Construction | 1979 |
| Units | 88 |
| Transaction Date | 2014-11-05 |
| Transaction Price | $7,687,500 |
| Buyer | PEPPER PLACE 88 LLC |
| Seller | LINOSANA I LTD |
601 W Renner Rd, Richardson TX Multifamily Investment
Neighborhood multifamily occupancy trends are strong relative to metro norms, supporting stable leasing for well-managed assets, according to WDSuite’s CRE market data.
Richardson’s Inner Suburb location combines workforce access and suburban amenities that appeal to renters. Neighborhood fundamentals benchmark well: the area holds an A rating and ranks 117th among 1,108 Dallas–Plano–Irving neighborhoods, placing it competitive within the metro. Schools average around 4 out of 5 and are in the top quartile nationally, a factor that can aid retention for family-oriented renter households.
Operationally, neighborhood occupancy trends sit in the upper tiers (top quartile nationally), indicating steady demand that can underpin cash flow when operations are executed effectively. Median asking rents in the area track above many U.S. neighborhoods while the neighborhood rent-to-income ratio sits near mid-range levels, a balance that can support pricing power without overextending typical renter budgets.
Within a 3-mile radius, demographics indicate recent population and household growth with further expansion projected, contributing to a larger tenant base. The area skews toward a majority of renter-occupied housing units, which broadens the demand pool for multifamily. Household incomes are comparatively strong, and elevated for the metro, which can support Class B leasing velocity and renewal capture.
Amenities are mixed: parks availability sits above metro medians and national mid-to-high percentiles, while restaurants and groceries are accessible at levels competitive for the region. Cafes and pharmacies are thinner in this immediate neighborhood, which may slightly temper lifestyle appeal but typically has limited impact on core leasing fundamentals for workforce-oriented assets. These patterns align with investor takeaways from multifamily property research and are consistent with neighborhood-level performance noted in WDSuite.
Vintage context: the property was built in 1979, modestly newer than the neighborhood’s average vintage. That supports relative competitiveness against older stock, though selective system upgrades and common-area refreshes may still be warranted to meet current renter expectations.
Comparable neighborhood-level crime rankings were not available in this WDSuite data release. Investors typically benchmark property-level security features and historical incident trends against city and metro baselines to evaluate risk and insurance implications.
As with any infill suburban location, it is prudent to review recent police reports, insurer loss runs, and daylight/evening site visits to validate on-the-ground conditions and confirm that safety considerations align with underwriting assumptions.
Nearby defense, semiconductor, scientific instrumentation, and electronics employers provide a diversified white-collar employment base, supporting renter demand through commute convenience and income stability. The list below highlights notable nodes within an approximately 2–6 mile radius.
- General Dynamics — defense & aerospace offices (2.1 miles)
- Raytheon — defense & aerospace offices (2.2 miles)
- Thermo Fisher Scientific — scientific instrumentation (2.7 miles)
- Avnet Electronics — electronics distribution (3.5 miles)
- Texas Instruments South Campus — semiconductors (6.1 miles)
- Texas Instruments — semiconductors (6.2 miles) — HQ
601 W Renner Rd offers scale at 88 units in a Dallas–Plano–Irving inner-suburb with durable renter demand. Neighborhood occupancy trends rank in the upper tiers nationally, and area schools and incomes sit above many peers, reinforcing leasing depth and renewal prospects. Built in 1979, the asset is slightly newer than the local average, suggesting competitive positioning versus older stock while still leaving room for targeted value-add and systems modernization. According to CRE market data from WDSuite, local rent levels and mid-range rent-to-income dynamics support disciplined revenue management rather than aggressive concessions-based strategies.
Forward-looking demographics within a 3-mile radius point to continued population and household growth, expanding the renter pool and supporting occupancy stability. Elevated ownership costs in the surrounding neighborhood context further sustain multifamily reliance, aiding retention and pricing power for well-managed, mid-market units.
- Strong neighborhood occupancy and above-median school quality support leasing stability
- 1979 vintage is competitive versus older stock with clear value-add and CapEx planning angles
- 3-mile demographics indicate growing renter pool and higher-income households backing demand
- Proximity to major defense, semiconductor, and tech employers underpins retention and lease-up
- Risk: amenity mix (cafes/pharmacies) is thinner locally; prudent underwriting should reflect resident convenience and potential CapEx