| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 79th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 W Kirby St, Wylie, TX, 75098, US |
| Region / Metro | Wylie |
| Year of Construction | 1981 |
| Units | 76 |
| Transaction Date | 2008-04-30 |
| Transaction Price | $2,975,000 |
| Buyer | JM LAKESIDE LLC |
| Seller | WOLFE KIRBY LLC |
301 W Kirby St, Wylie TX Multifamily Investment
76-unit garden asset in suburban Wylie positioned for stable leasing, supported by an A-rated neighborhood and strong household incomes, according to WDSuite’s CRE market data.
Situated in the Dallas-Plano-Irving metro, the neighborhood carries an A rating (ranked 97 of 1,108 metro neighborhoods), reflecting broad livability and demand fundamentals. Neighborhood occupancy is strong at the area level, with rates positioned above national norms (82nd percentile), supporting income durability and reducing downtime risk for operators.
Schools are a standout: the average school rating is 5.0 and ranks 1st among 1,108 Dallas–Plano–Irving neighborhoods, a signal that can underpin family-driven renter demand and longer tenancy. Amenities are competitive among metro peers (amenity rank 160 of 1,108; 63rd percentile nationally), with everyday retail like grocery and pharmacy access measuring in the high 70s percentiles nationwide. Limited park density is a known tradeoff locally, which owners may offset with on-site open space or nearby private amenities in leasing narratives.
The housing landscape skews owner-heavy. At the neighborhood level, renter-occupied units represent roughly a quarter of housing stock, indicating a moderate renter concentration that can still support multifamily absorption while keeping concessions in check. Within a 3-mile radius, WDSuite data shows population and household growth over the past five years, with forecasts pointing to further expansion through 2028; this enlarges the tenant base and supports occupancy stability. Elevated household incomes (above the 90th percentile nationally) and a neighborhood rent-to-income ratio near 0.16 suggest manageable affordability pressure relative to comparable suburbs, which can aid retention.
Home values in the area are elevated versus national norms (upper 70s percentile), creating a high-cost ownership market that tends to reinforce reliance on multifamily for some households. Median contractual rents register on the higher side locally (around the 90th percentile), but the combination of income depth and school quality provides a constructive backdrop for pricing power and lease trade-outs when supported by product quality. This submarket profile aligns with investor priorities surfaced through commercial real estate analysis, particularly for suburban workforce and family-oriented demand.
Neighborhood safety benchmarks sit around the national midpoint overall (47th percentile), with property and violent offense rates trending lower year over year based on WDSuite’s CRE market data. Recent declines in both categories indicate improvement momentum, which can support leasing narratives centered on stability rather than near-term volatility.
Within the Dallas–Plano–Irving context, safety performance is competitive among metro neighborhoods, and the recent downward trend in estimated offense rates is a constructive signal for long-term operations. As always, investors should underwrite with submarket-level comps and property-level history rather than block-level assumptions.
Proximity to diversified employers supports renter demand via short commutes and sector breadth, including Avnet Electronics, D.R. Horton, Raytheon, Thermo Fisher Scientific, and Texas Instruments.
- Avnet Electronics — electronics distribution (7.3 miles)
- D.R. Horton, America's Builder — homebuilding (8.0 miles)
- Raytheon — defense & aerospace (8.6 miles)
- Thermo Fisher Scientific — life sciences (9.6 miles)
- Texas Instruments — semiconductors (14.2 miles) — HQ
Built in 1981, the property is older than the neighborhood’s average vintage, creating a clear value‑add path through renovations and systems upgrades to compete with 2000s-era stock. At the neighborhood level, occupancy trends are above national norms and renter demand is supported by top-tier schools and high household incomes, providing a foundation for steady absorption and retention. According to CRE market data from WDSuite, area rents and incomes track in the upper percentiles nationally, which supports measured pricing power when paired with targeted capital improvements.
Within a 3-mile radius, population and households have grown and are projected to expand further through 2028, enlarging the tenant base and supporting occupancy stability. The ownership-leaning housing mix and elevated home values reinforce the role of multifamily as an accessible option for households not purchasing, while a neighborhood rent‑to‑income profile near 0.16 points to manageable affordability pressure that can temper turnover risk.
- Strong neighborhood fundamentals: A-rated location with above‑national occupancy and top-ranked schools
- Value‑add upside: 1981 vintage allows renovations to position against 2000s-era competitive set
- Demand depth: High household incomes and family appeal support absorption and retention
- Employer access: Diversified job centers within ~15 miles bolster weekday leasing and renewals
- Risks: Limited park density and an owner‑leaning housing mix may cap near‑term renter pool; pricing should reflect product quality and amenity strategy