| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 16th | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1701 E Centerville Rd, Garland, TX, 75041, US |
| Region / Metro | Garland |
| Year of Construction | 1984 |
| Units | 36 |
| Transaction Date | 1995-09-29 |
| Transaction Price | $818,100 |
| Buyer | COUNTRY CLUB ASSOCIATES LTD |
| Seller | TERRY DAVID |
1701 E Centerville Rd Garland Multifamily Investment
Neighborhood renter-occupied concentration supports a durable tenant base, with occupancy near broader market norms, according to WDSuite’s CRE market data.
Situated in Garland’s inner-suburb fabric of the Dallas–Plano–Irving metro, the property benefits from a renter-oriented housing mix at the neighborhood level, with a high share of renter-occupied units that helps deepen the local tenant pool. Neighborhood occupancy trends sit around the national midpoint, pointing to steady but competitive leasing dynamics for value-focused assets.
Daily needs are well supported by grocery access that is competitive among Dallas–Plano–Irving neighborhoods (ranked 137 out of 1,108) and strong in a national context. In contrast, cafes, parks, and pharmacies are limited within the immediate neighborhood, so residents often rely on nearby corridors for lifestyle amenities. Restaurant density is moderate relative to both the metro and nation, which can still sustain convenience for workforce renters.
The asset’s 1984 vintage is older than the neighborhood’s average construction year (1991), which points to potential value-add and targeted capital planning to enhance unit finishes, common areas, and operating efficiency. Positioning upgrades can help the property compete against newer stock while capturing demand from households prioritizing attainable rents over top-tier amenities.
Within a 3-mile radius, population is broadly stable and household counts have been edging higher, with forecasts indicating additional household growth alongside slightly smaller average household sizes. This combination tends to expand the renter pool and can support occupancy stability. Ownership costs in this submarket remain comparatively accessible versus higher-cost urban cores, which may create some competition with entry-level ownership; however, rent levels relative to incomes signal manageable affordability pressure and support lease retention with prudent renewal strategies.
Neighborhood safety indicators compare favorably to national norms, with overall conditions safer than many areas nationwide (around the 69th percentile). In the most recent year of data, both violent and property offense rates moved down meaningfully, with declines that rank among the stronger improvements nationally. This trend-based context suggests a stabilizing environment rather than a block-level guarantee, and investors should continue to monitor local patterns as part of routine risk management.
Proximity to diversified employers supports renter demand and commute convenience, including homebuilding, life sciences, defense and aerospace, semiconductors, and midstream energy. These anchors help sustain a workforce renter base that can underpin leasing and retention.
- D.R. Horton, America's Builder — homebuilding offices (2.9 miles)
- Thermo Fisher Scientific — life sciences (7.5 miles)
- General Dynamics — defense & aerospace offices (8.0 miles)
- Texas Instruments — semiconductors (8.9 miles) — HQ
- Energy Transfer Equity — midstream energy (11.8 miles) — HQ
This 36-unit asset offers exposure to a renter-oriented neighborhood within the Dallas–Plano–Irving metro, where occupancy trends sit near the national midpoint and grocery access is a local strength. The surrounding employment base spans semiconductors, defense, life sciences, and energy, supporting steady workforce demand. According to CRE market data from WDSuite, neighborhood renter concentration is elevated, which can deepen the tenant base and help sustain leasing through cycles.
Built in 1984, the property is older than the area’s average vintage, creating a clear value-add path through selective upgrades and systems modernization to compete against newer stock. Within a 3-mile radius, household counts are rising and are expected to expand further as average household sizes edge down, a pattern that typically increases the number of renting households and supports occupancy stability. Ownership costs remain relatively accessible in this submarket, suggesting some competition with entry-level homeownership; prudent pricing and renewal strategy can balance demand depth with affordability management.
- Renter-oriented neighborhood deepens tenant base and supports leasing stability.
- Diverse nearby employers (semiconductors, defense, life sciences, energy) underpin workforce demand.
- 1984 vintage offers value-add potential through targeted renovations and efficiency upgrades.
- Risk: amenity limitations and accessible ownership options may heighten competition—manage pricing and renewals accordingly.