| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 50th | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1246 Colonel Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1998 |
| Units | 67 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1246 Colonel Dr Garland TX Multifamily Investment
1998 construction positions the asset competitively versus older neighborhood stock, with neighborhood occupancy showing steady performance relative to the metro, according to WDSuite’s CRE market data.
Garland’s suburban setting offers everyday conveniences and regional connectivity, with restaurants comparatively dense (around the upper-third nationally) and parks and pharmacies in the top quartile nationwide. Cafes and grocery stores are sparse within the immediate neighborhood footprint, so most residents rely on short drives for errands, which is typical for suburban Dallas locations.
Relative to the Dallas-Plano-Irving, TX metro, this neighborhood’s overall amenity mix is just above the metro median (ranked 546 among 1,108 metro neighborhoods), supporting livability without commanding urban-core pricing. Average school ratings in the neighborhood are lower than many Dallas submarkets, which can influence leasing profiles toward value-minded renters; investors should calibrate marketing and renewals accordingly.
The property’s 1998 vintage is newer than the neighborhood’s average 1978 build year, signaling competitive positioning against older nearby stock and the potential to outperform with targeted modernization of interiors and building systems as they age.
Within a 3-mile radius, demographics show modest population growth and a larger increase in households, indicating a gradually expanding renter pool. Renter-occupied housing accounts for a meaningful share of units locally, supporting depth of demand for multifamily. With elevated home values versus national norms, the high-cost ownership market in the area tends to support sustained reliance on rental housing and can aid lease retention and pricing power for well-maintained assets.
Neighborhood occupancy is healthy by national standards and broadly in line with metro performance, suggesting stable tenant demand rather than outsized lease-up risk. Rent-to-income levels indicate room for professional rent management without overextending affordability, which can support steady renewal outcomes.
Safety indicators place the neighborhood below the national middle, with property crime levels higher than many U.S. neighborhoods and violent crime closer to the national midpoint. Recent year-over-year trends show some uptick in violent incidents, so investors should underwrite to prudent security measures and partner with professional management to support resident experience.
Within the Dallas-Plano-Irving, TX metro context, the area tracks below the metro average for safety. For underwriting, this typically points to practical measures such as exterior lighting, access controls, and community engagement rather than extraordinary capital programs, with ongoing monitoring of trend data to guide operating plans.
Nearby employers span homebuilding, life sciences, and advanced manufacturing/defense, supporting a diverse commuter base and resilient renter demand. Notable employment nodes include D.R. Horton, Thermo Fisher Scientific, Texas Instruments South Campus, General Dynamics, and Texas Instruments.
- D.R. Horton — homebuilding (3.3 miles)
- Thermo Fisher Scientific — life sciences (8.0 miles)
- Texas Instruments South Campus — semiconductors (8.5 miles)
- General Dynamics — defense & aerospace offices (8.6 miles)
- Texas Instruments — semiconductors (8.8 miles) — HQ
This 67-unit asset benefits from a 1998 vintage in a submarket where the typical build year is older, offering relative competitiveness versus nearby stock and room for selective value-add to refresh interiors and systems. According to CRE market data from WDSuite, neighborhood occupancy is broadly in line with metro patterns, and rent-to-income levels suggest manageable affordability pressure, supporting renewal prospects under disciplined rent management.
Within a 3-mile radius, steady population growth and a faster rise in households point to renter pool expansion, while elevated ownership costs versus national norms reinforce reliance on multifamily housing. The employer base within a 10-mile commute spans construction, life sciences, and semiconductors, helping diversify demand and support leasing stability across cycles.
- 1998 construction offers competitive positioning vs. older neighborhood stock with targeted modernization upside
- Neighborhood occupancy aligns with metro trends, supporting stable cash flow potential
- 3-mile radius shows growing households and a meaningful renter base, supporting demand depth
- Elevated ownership costs bolster renter reliance, aiding retention and pricing power
- Risks: below-median school ratings and safety metrics require thoughtful management and underwriting