| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 35th | Poor |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1801 W Walnut St, Garland, TX, 75042, US |
| Region / Metro | Garland |
| Year of Construction | 1984 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | $3,925,000 |
| Buyer | --- |
| Seller | 1801 W Walnut Beach Boys LLC |
1801 W Walnut St Garland Multifamily Investment
Inner-suburban Garland exhibits steady renter demand and above-median neighborhood occupancy, according to WDSuite’s CRE market data, supporting income stability for a mid-1980s, mid-scale asset. Daily amenities and commuter access further reinforce leasing durability.
Set within an inner suburb of the Dallas–Plano–Irving metro, the neighborhood rates competitive among 1,108 metro neighborhoods (B+ overall), pointing to balanced fundamentals for workforce-oriented apartments. Amenity access is a relative strength: grocery, restaurants, parks, and pharmacies place in the top quartile nationally, which supports convenience and tenant retention.
The asset’s 1984 construction is newer than the neighborhood’s average vintage (1977). This offers an edge versus older stock while still warranting selective modernization and system upgrades typical for 1980s buildings to sustain competitive positioning.
Renter-occupied housing comprises roughly one-third of units in the neighborhood, above national median levels. For investors, that renter concentration indicates a meaningful tenant base and supports demand depth for garden and mid-scale multifamily, with renewals tied to value, maintenance quality, and on-site services.
Demographics aggregated within a 3-mile radius show modest recent population growth, a larger increase in households, and rising incomes—factors that collectively expand the prospective renter pool and can support occupancy stability. Neighborhood occupancy trends above the national median, and rents align with mid-market positioning for the region. Elevated value-to-income ratios locally reflect a higher-cost ownership market relative to incomes, which tends to sustain reliance on rentals, while relatively manageable rent-to-income levels support retention.
Investors should underwrite safety with a comparative lens. Neighborhood indicators suggest property crime sits below the national middle (indicating relatively higher exposure than safer peers), while violent offense metrics track closer to the national median. Importantly, both property and violent offense rates have declined year over year—an encouraging directional trend for long-term operations.
Practical measures—lighting, access control, and coordination with local law enforcement—can help manage on-site risk. Benchmarking against peer submarkets across Dallas–Plano–Irving can further calibrate risk-adjusted return expectations.
Nearby corporate nodes provide a diversified employment base that supports multifamily demand and commute convenience, led by life sciences, defense & aerospace, electronics distribution, semiconductors, and homebuilding offices.
- Thermo Fisher Scientific — life sciences (4.3 miles)
- General Dynamics — defense & aerospace offices (4.9 miles)
- Avnet Electronics — electronics distribution (5.3 miles)
- Texas Instruments South Campus — semiconductors (5.7 miles)
- Texas Instruments — semiconductors (6.0 miles) — HQ
This 84-unit asset benefits from neighborhood occupancy above national medians, strong daily-need amenities, and a renter base supported by a diversified employment corridor. Within a 3-mile radius, modest population growth alongside faster household and income gains points to renter pool expansion, aiding lease-up and retention. According to CRE market data from WDSuite, the neighborhood’s positioning is competitive within the Dallas–Plano–Irving metro, aligning with stable demand for mid-market rentals.
The 1984 vintage is newer than surrounding stock, providing a competitive edge versus older properties while leaving room for targeted value-add and system modernization to enhance rents and renewal rates. Ownership remains relatively high-cost versus incomes locally, which reinforces reliance on rental housing; at the same time, rent burdens appear manageable for many households, supporting occupancy stability when paired with disciplined lease management.
- Competitive neighborhood with strong daily amenities supporting tenant retention
- Newer-than-average 1984 vintage with value-add and modernization upside
- 3-mile demand drivers: growing households and rising incomes expand the renter base
- Employment proximity to life sciences, defense, electronics, and semiconductors underpins leasing
- Risks: relatively higher property crime exposure vs. national medians and typical 1980s capex needs