| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 104 S 11th St, Garland, TX, 75040, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2007-06-13 |
| Transaction Price | $1,406,300 |
| Buyer | KAAVILAMA LLC |
| Seller | SKANDA 2 LLC |
104 S 11th St Garland 24-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and solid occupancy, according to WDSuite’s CRE market data; these figures reflect the surrounding neighborhood rather than the property itself.
Garland’s inner-suburban location within the Dallas–Plano–Irving metro positions the neighborhood for everyday convenience and workforce accessibility. Grocery and daily-needs access is a relative strength, with neighborhood amenities such as groceries, cafes, and restaurants placing in the top quartile nationally, supporting leasing appeal for renters seeking walkable essentials. Limited parks and pharmacies nearby may require residents to travel a bit farther for recreation and prescriptions, which is a consideration for tenant experience.
For investors, renter demand signals are constructive. The surrounding neighborhood’s occupancy is solid and renter-occupied housing share is elevated, indicating a deeper tenant base and potential for retention. Median rents sit at levels that keep the rent-to-income ratio near one-quarter, which can temper turnover while still allowing measured rent management. These metrics describe the neighborhood, not the property.
Relative to metro peers, the area is competitive among Dallas–Plano–Irving neighborhoods on several livability measures (1108 neighborhoods total), driven by everyday retail and food options. School ratings trend below national medians, which may influence unit mix and marketing toward workforce households rather than family-focused positioning.
The property’s 1983 construction is newer than the area’s average vintage (1968). That positioning can offer a competitive edge versus older local stock, though investors should still underwrite for system modernization or unit refresh to capture value-add upside and maintain leasing momentum.
Safety trends are mixed when viewed against broader benchmarks. Within the Dallas–Plano–Irving metro (1108 neighborhoods), the neighborhood’s overall crime standing is competitive among metro neighborhoods. Nationally, safety indicators track below the median, but recent data shows year-over-year improvement in violent offense rates and modest easing in property offenses. These comparisons refer to the neighborhood, not the property.
For underwriting, this suggests a pragmatic approach: emphasize lighting, access control, and resident engagement to support retention, while recognizing that recent directional improvements may help stabilize perception over the hold period.
Proximity to major employers underpins a broad workforce renter pool and commute convenience. Nearby anchors include Thermo Fisher Scientific, D.R. Horton, General Dynamics, Avnet Electronics, and Texas Instruments South Campus.
- Thermo Fisher Scientific — life sciences (4.9 miles)
- D.R. Horton, America's Builder — homebuilding (5.2 miles)
- General Dynamics — defense & aerospace offices (5.5 miles)
- Avnet Electronics — electronics distribution (5.7 miles)
- Texas Instruments South Campus — semiconductors (6.3 miles)
This 24-unit, 1983-vintage asset sits in an inner-suburban Garland neighborhood where everyday amenities and solid occupancy support leasing durability. The area’s elevated share of renter-occupied housing units implies a deeper tenant base, while median rents that keep rent-to-income near one-quarter can aid retention. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and amenity access is a relative strength versus national peers; these are neighborhood metrics, not property performance.
Investor upside skews toward light-to-moderate value-add: 1980s construction is newer than the area’s older average stock, offering a positioning advantage with targeted upgrades for systems and interiors. Risks to underwrite include nationally below-median safety benchmarks and limited nearby parks/pharmacies, which call for thoughtful on-site improvements and service positioning to sustain leasing velocity.
- Inner-suburban location with strong daily-needs access supporting renter appeal
- Solid neighborhood occupancy and elevated renter-occupied share point to demand depth
- 1983 vintage offers competitive positioning versus older local stock with value-add potential
- Rent levels aligned with incomes can support retention and measured rent management
- Risks: below-median national safety metrics and limited parks/pharmacies require active asset management