| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 86th | Best |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4851 Morris Ave, Addison, TX, 75001, US |
| Region / Metro | Addison |
| Year of Construction | 2000 |
| Units | 93 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4851 Morris Ave, Addison TX Multifamily Investment
Amenity-rich inner suburb with a deep renter base supports steady leasing, according to WDSuite’s CRE market data. Expect demand durability from strong neighborhood fundamentals and proximity to major employers.
Addison’s neighborhood setting scores A+ and ranks 10th out of 1,108 Dallas–Plano–Irving neighborhoods, placing it in the top quartile nationally for overall performance. Dense dining (restaurants ranking among the highest in the metro) and strong access to cafes, parks, groceries, and pharmacies create daily-life convenience that helps multifamily assets attract and retain renters.
The neighborhood’s renter concentration is high, with a large share of housing units renter-occupied. For investors, this points to a broad tenant base and supports leasing velocity and renewal potential. Neighborhood occupancy is roughly 91% based on CRE market data from WDSuite, indicative of stable utilization near the metro median.
Within a 3-mile radius, households have grown in recent years and are projected to expand further through 2028 while average household size trends smaller. This pattern typically adds depth to the renter pool and can support occupancy stability. Median home values in the neighborhood are elevated relative to many U.S. locations, which tends to sustain reliance on multifamily housing and can aid pricing power and lease retention in professionally managed assets.
Vintage also matters: a 2000 construction year is slightly newer than the neighborhood’s late-1990s average. That positioning can be competitively favorable versus older stock, though investors should plan for selective system upgrades and modernization to maintain standing against new deliveries across North Dallas.
Safety indicators are competitive among Dallas–Plano–Irving neighborhoods (crime rank 421 out of 1,108), though they trend below the national median. Year over year, both property and violent offense rates have declined in the area, which is a constructive signal, but investors should still underwrite standard security measures and operating practices appropriate for a dense inner-suburban setting.
Proximity to regional headquarters and technology offices underpins a sizable white-collar workforce, supporting renter demand and commute convenience for Class B/C and newer product. Nearby anchors include Costco’s regional office, Texas Instruments, IBM, and Energy Transfer.
- Costco Regional Office — corporate offices (4.2 miles)
- Texas Instruments — semiconductor HQ & offices (5.5 miles) — HQ
- Texas Instruments South Campus — semiconductor offices (5.7 miles)
- IBM Dallas Metroplex — technology offices (6.8 miles)
- Energy Transfer Equity — energy infrastructure (7.1 miles) — HQ
This 93-unit, 2000-vintage Addison asset benefits from an A+ neighborhood profile, dense amenities, and a high share of renter-occupied housing units that signal depth of tenant demand. Neighborhood occupancy trends in the low 90s and the 3-mile area shows continued population and household growth, suggesting a larger tenant base and support for renewal and lease-up performance.
Being slightly newer than the area’s late-1990s average, the property can compete well against older stock while targeted upgrades can capture value-add upside. According to CRE market data from WDSuite, elevated neighborhood home values and strong service/office employment nearby reinforce multifamily demand, though investors should monitor competitive new supply across North Dallas and standard operating risks.
- A+ inner-suburb location with dense amenities supports tenant retention
- High renter-occupied share indicates a deep, stable multifamily demand base
- 2000 vintage offers competitive positioning with targeted renovation upside
- Nearby corporate employers bolster white-collar renter pool and leasing
- Risks: crime metrics below national median and ongoing delivery pipeline warrant prudent underwriting