| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 17th | Poor |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 N Merrill Ave, Duncanville, TX, 75116, US |
| Region / Metro | Duncanville |
| Year of Construction | 1973 |
| Units | 64 |
| Transaction Date | 2006-04-03 |
| Transaction Price | $3,187,500 |
| Buyer | VALENCE ELECTRON LLC |
| Seller | MERRILL SQUARE LP |
400 N Merrill Ave Duncanville Multifamily Investment
Neighborhood occupancy remains above the metro median, pointing to steady renter demand for well-maintained units, according to WDSuites CRE market data. With a 1973 vintage, asset plans should balance cash flow with targeted upgrades to defend competitiveness.
Neighborhood and Demand Drivers
The property sits in an Inner Suburb location within the DallasPlanoIrving metro, where neighborhood livability trends are balanced by convenient access to daily needs. Amenities score in the top quartile nationally, with strong grocery (94th percentile) and solid restaurant and pharmacy access, which supports day-to-day convenience and helps leasing stickiness based on CRE market data from WDSuite.
Occupancy at the neighborhood level is above the metro median among 1,108 Dallasarea neighborhoods, a constructive signal for near-term stability. The share of housing units that are renter-occupied is competitive among DallasPlanoIrving neighborhoods, indicating a meaningful depth of the tenant base and a diversified pool for renewals and new leases. Median contract rents in the neighborhood trail national midpoints, which can aid retention while still allowing disciplined revenue management.
Demographics (3-mile radius): The area shows modest population growth and an increase in households over the last five years, with forecasts pointing to further population gains and a larger household count by 2028. A renter-occupied share above 50% within three miles suggests a wide renter pool, supporting occupancy stability and marketing efficiency for multifamily property research. Rising household incomes and projected rent growth imply room for measured rent optimization, with management attention to affordability to sustain retention.
Housing and ownership context: Neighborhood home values sit below national midpoints, while the value-to-income ratio trends higher than average nationally. In practical terms, ownership remains a higher-cost commitment relative to local incomes, which can reinforce reliance on rental housing. Rent-to-income ratios are comparatively manageable, supporting lease renewal prospects and reducing near-term affordability pressure.
Vintage considerations: The neighborhoods average construction year is 1986, whereas this asset dates to 1973. The older vintage suggests planning for ongoing capital expenditures and select value-add upgrades to maintain competitiveness versus newer stock.
Safety Context
Current neighborhood crime rankings are not available in WDSuite for this location. Investors typically compare neighborhood trends to metro benchmarks and review recent, jurisdiction-level data to gauge directionality and to support underwriting assumptions. Given the broader suburban setting, prudence suggests validating on-the-ground conditions and reviewing trend data over multiple years rather than a single snapshot.
Anchor Employers and Commuter Access
Proximity to major Dallas corporate offices supports a diversified renter base and commute convenience, which can aid retention and leasing. Notable nearby employers include AT&T, Tenet Healthcare, Jacobs, Builders FirstSource, and HF Sinclair (HollyFrontier).
- AT&T telecommunications HQ (10.6 miles) HQ
- Tenet Healthcare healthcare HQ (10.8 miles) HQ
- Jacobs Engineering Group engineering & professional services (10.9 miles) HQ
- Builders Firstsource building materials HQ (11.0 miles) HQ
- Hollyfrontier energy & refining HQ (11.2 miles) HQ
Investment Thesis
400 N Merrill Ave offers a 64unit footprint in an Inner Suburb setting where neighborhood occupancy trends run above the metro median and amenities rank strongly, supporting day-to-day convenience and leasing stability. Based on CRE market data from WDSuite, the surrounding renter base is sizable, and relative rent levels remain manageable, creating scope for disciplined revenue management alongside retention.
The 1973 construction vintage is older than the neighborhood average and points to ongoing capital planning and value-add potential. Demographic indicators within a 3-mile radius show recent population growth and a projected increase in households, expanding the tenant pool over the medium term. Together with proximity to major Dallas employers, these factors underpin a steady, workforce-oriented demand profile, with underwriting mindful of capital needs and local school quality.
- Above-metro neighborhood occupancy and strong amenity access support leasing stability.
- Large renter pool (3-mile) and manageable rent-to-income dynamics aid retention and pricing power.
- 1973 vintage provides value-add/renovation angles; plan CapEx to stay competitive versus newer stock.
- Proximity to Dallas HQ employers supports workforce demand and reduces commute friction.
- Risks: older systems and below-average school ratings require careful CapEx and leasing strategy.