| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 43rd | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1935 Cranford Dr, Garland, TX, 75041, US |
| Region / Metro | Garland |
| Year of Construction | 1984 |
| Units | 22 |
| Transaction Date | 2015-10-16 |
| Transaction Price | $1,330,000 |
| Buyer | Cranford Place PPTY Group LLC |
| Seller | --- |
1935 Cranford Dr Garland Multifamily Investment
Inner-suburban Garland positioning supports stable renter demand, with neighborhood occupancy around the national midrange and a sizable renter-occupied housing mix within 3 miles; according to WDSuite’s CRE market data, strong daily-needs access underpins leasing durability.
Livability favors everyday convenience. The neighborhood ranks competitive among Dallas-Plano-Irving neighborhoods for amenities, with grocery access in the top decile nationally and restaurants well above average, though parks, pharmacies, and cafes are limited. For family renters, average school ratings trend below national norms, which may weigh on some leasing decisions but can be offset by commute and service access for workforce households.
Multifamily fundamentals in the neighborhood sit near the national midrange on occupancy, and contract rents have grown materially over the past five years. The local renter-occupied share is meaningful for demand depth, while demographics aggregated within a 3-mile radius show renter-occupied housing near half of units, supporting a broad tenant base and retention potential.
Vintage context matters for capital planning. With an average neighborhood construction year near 1982 and this asset built in 1984, the property is slightly newer than the surrounding stock yet still mid-1980s vintage—positioning it for value-add upgrades and systems modernization to sharpen competitiveness against newer deliveries.
Affordability and incomes support leasing stability. A rent-to-income ratio around 0.12 and median home values that sit around national midpoints suggest rental housing remains an accessible option relative to ownership in this area. For investors, that backdrop favors steadier pricing power while keeping an eye on lease management where household budgets are tighter.
Looking ahead, demographics within a 3-mile radius indicate population stabilization and growth over the next five years alongside a notable increase in households and rising median incomes. This suggests a larger tenant base and supports occupancy stability, even as household sizes shift and neighborhood schools and limited park/cafe inventory remain watch items for family-oriented demand.
Safety indicators are mixed but improving. The neighborhood’s crime position is competitive among 1,108 Dallas-Plano-Irving neighborhoods and modestly above average nationally. Year over year, both violent and property offense estimates have declined materially, an encouraging trend for long-term leasing confidence.
From an investor lens, the primary watch item is property crime, which remains a consideration relative to national benchmarks even amid improvement. Monitoring on-site lighting, access controls, and resident engagement can help sustain the recent downward trend while supporting tenant retention.
Proximity to major employers supports workforce housing demand and commute convenience, led by D.R. Horton, Texas Instruments (including South Campus), Thermo Fisher Scientific, and General Dynamics.
- D.R. Horton, America's Builder — homebuilding (5.8 miles)
- Texas Instruments South Campus — semiconductors (6.0 miles)
- Texas Instruments — semiconductors (6.3 miles) — HQ
- Thermo Fisher Scientific — life sciences (6.5 miles)
- General Dynamics — defense & aerospace offices (7.2 miles)
This 22-unit, 1984-vintage asset offers a pragmatic value-add story in an inner-suburban Garland location where neighborhood occupancy trends near the national midrange and grocery/restaurant access is notably strong. Demographics aggregated within a 3-mile radius point to a sizable renter pool near half of housing units and forward population and household growth, supporting leasing stability. According to CRE market data from WDSuite, rent levels and a rent-to-income ratio around 0.12 signal manageable affordability pressure that can aid retention while leaving room for targeted revenue management.
Mid-1980s construction suggests scope for renovations and systems updates to enhance competitiveness versus newer product. Investors should underwrite around below-average school ratings and limited neighborhood parks/cafes—factors that may moderate appeal for some family renters—while leaning into workforce accessibility and proximity to major employers. The average unit size around 918 sq. ft. supports livability and lease retention once upgrades are executed.
- Inner-suburban location with strong daily-needs access and solid workforce connectivity
- Sizable renter-occupied base within 3 miles supports demand depth and occupancy stability
- 1984 vintage enables value-add and systems modernization to lift competitive positioning
- Affordability profile supports retention with room for targeted revenue management
- Risks: below-average school ratings, limited parks/cafes, and property-crime monitoring