| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 63rd | Good |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 Fleming Ct, Wylie, TX, 75098, US |
| Region / Metro | Wylie |
| Year of Construction | 2003 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 Fleming Ct, Wylie TX Multifamily Opportunity
Neighborhood occupancy sits at the top of the Dallas-Plano-Irving metro, supporting lease stability for nearby assets, according to WDSuites CRE market data. Elevated ownership costs in the area help sustain renter demand, while a moderate renter-occupied share provides a broad but not saturated tenant base.
The property sits in an Inner Suburb neighborhood rated A (ranked 69 of 1,108 metro neighborhoods), indicating strong overall livability and investment fundamentals relative to the Dallas-Plano-Irving market. Amenity access is solid and top quartile nationally, with restaurants, groceries, parks, and pharmacies testing above national medians. Average school ratings in the neighborhood are at the top of both the metro and national comparisons, a factor that tends to support family-oriented renter demand and longer tenures.
For rental dynamics, neighborhood occupancy is at the top of the metro distribution, a favorable backdrop for maintaining rent rolls at stabilized assets. The share of renter-occupied housing units is below half (upper-tier nationally), suggesting depth in the tenant pool without excessive supply saturation. Home values and the value-to-income ratio stand above national medians, which in investor terms can reinforce reliance on multifamily housing and support pricing power where product quality is competitive.
Within a 3-mile radius, demographics show population and household growth over the last five years, with additional expansion projected, pointing to a larger tenant base over time. Median incomes in the 3-mile radius have risen meaningfully, while rent levels have climbed as well; together these trends indicate room for disciplined growth but call for attentive lease management to avoid affordability pressure.
Vintage positioning: Built in 2003, the asset is newer than the neighborhoods average vintage (late 1980s). That relative youth typically aids competitiveness against older stock, though investors should still plan for system updates and selective modernization to meet current renter expectations.
Neighborhood safety indicators are mixed but improving. Overall crime performance is competitive among Dallas-Plano-Irving neighborhoods (rank position within the better-performing ~30% of the metro), placing the area near the national middle. Importantly, both property and violent offense rates have trended lower year over year, reflecting recent momentum in the right direction.
As always, investors should evaluate submarket trends and property-level security practices alongside regional comparisons. Use neighborhood data as directional context rather than a proxy for block-level conditions.
The surrounding employment base blends technology, defense/aerospace, and advanced manufacturing, supporting steady renter demand through commute convenience to nearby corporate offices. The list below highlights proximate employers most likely to influence leasing and retention at workforce and mid-market communities.
- Avnet Electronics electronics distribution (6.9 miles)
- Raytheon defense & aerospace offices (8.2 miles)
- D.R. Horton, Americas Builder homebuilding corporate offices (8.3 miles)
- Raytheon Company defense & aerospace offices (9.2 miles)
- General Dynamics defense & aerospace offices (9.4 miles)
505 Fleming Ct benefits from a high-performing Inner Suburb location where neighborhood occupancy ranks at the top of the metro, supportive school quality is nationally distinguished, and amenities index in the top quartile. Newer 2003 construction versus older surrounding stock enhances competitive positioning for operations and leasing, with targeted modernization likely to drive premiums rather than full-scale repositioning. According to CRE market data from WDSuite, ownership costs in the area trend high relative to incomes, a backdrop that can sustain multifamily demand while keeping lease-up velocity resilient for well-run assets.
Within a 3-mile radius, population and household growth alongside rising incomes points to a larger tenant base and supports occupancy stability. The renter-occupied share locally is meaningful but not dominant, implying healthy demand depth without over-reliance on transient renters. Operators should pair revenue growth strategies with affordability-aware renewals and maintain a focus on security and community standards as neighborhood safety continues to improve.
- Top-of-metro neighborhood occupancy supports stable rent rolls
- 2003 vintage offers competitive positioning versus older area stock
- Strong schools and top-quartile amenities aid retention and demand
- 3-mile growth in households and incomes expands the tenant base
- Risk: mid-pack safety nationally; maintain security and proactive management