| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 40th | Fair |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2057 Castle Dr, Garland, TX, 75040, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2057 Castle Dr Garland 62-Unit Value-Add Play
Neighborhood occupancy trends sit near the top quartile nationally, suggesting steady tenant retention potential according to WDSuite’s CRE market data. This submarket of Garland offers durable renter demand drivers without the pricing volatility seen in core urban nodes.
Garland’s inner-suburb location offers access to Dallas employment while maintaining a neighborhood profile geared toward stable operations. The neighborhood’s occupancy rate is strong at the area level and ranks in the higher tier nationally (top quartile), though these figures reflect the neighborhood rather than the property. Median school ratings trend around average (3.0 of 5; 61st percentile nationally), a supportive signal for family-oriented renter cohorts seeking longer stays.
The area skews more owner-occupied, with roughly 28% of housing units renter-occupied at the neighborhood level. For investors, this indicates a defined but selective renter base—depth exists, but leasing may rely on competitive positioning and value relative to nearby single-family options. Median contract rents and home values have both risen over the last five years, reinforcing rental demand while warranting attention to affordability and lease management.
The average construction year in the neighborhood is the mid-1990s, while the subject’s 1983 vintage is older. That gap points to potential value-add and capital planning opportunities—modernizing interiors, systems, and common areas can help the property stay competitive versus newer local stock. Amenities within the immediate neighborhood are thinner than denser Dallas nodes; however, proximity to major job centers helps offset limited on-block retail density.
Demographic indicators aggregated within a 3-mile radius show household counts have grown recently, with projections calling for further increases even as average household size trends lower. This combination typically broadens the tenant base and supports occupancy stability. For investors engaged in multifamily property research, these dynamics suggest a resilient demand backbone with room to differentiate through targeted renovations and service quality.
Safety metrics are mixed in a way typical of inner-suburban Dallas. The neighborhood’s overall crime rank sits at 387 out of 1,108 Dallas–Plano–Irving neighborhoods, indicating relatively higher incident levels than many peer areas in the metro. Nationally, violent offense indicators trend modestly better than average (around the upper half of neighborhoods), while property offense indicators sit closer to the national midpoint. Recent data shows incremental improvement in property-related incidents year over year.
For underwriting, this suggests standard risk controls: emphasize lighting, access control, and resident screening, and consider partnerships with local community policing. As always, these are neighborhood-level signals and not block-specific conditions; investors should validate on-the-ground patterns during site visits and lease audits.
Nearby employment nodes anchor a broad renter pool, with strong representation from homebuilding, electronics distribution, life sciences, and defense contractors. Key employers include D.R. Horton, Avnet Electronics, Thermo Fisher Scientific, General Dynamics, and Raytheon—proximity that supports commute convenience and leasing durability.
- D.R. Horton — homebuilding (3.3 miles)
- Avnet Electronics — electronics distribution (6.2 miles)
- Thermo Fisher Scientific — life sciences (6.4 miles)
- General Dynamics — defense & aerospace offices (6.9 miles)
- Raytheon — defense contractor (7.5 miles)
2057 Castle Dr offers a classic suburban value-add profile: a 62-unit, 1983-vintage asset in an inner-suburban Garland neighborhood where occupancy is comparatively strong at the area level. The neighborhood’s renter concentration is lower than more urban Dallas pockets, but steady household growth within a 3-mile radius and proximity to diversified employers support a durable tenant base. According to CRE market data from WDSuite, neighborhood occupancy trends sit near the top quartile nationally, indicating potential for stable leasing with competitive finishes and management.
The asset’s older vintage versus the neighborhood’s mid-1990s average highlights actionable upside through modernization and operational tuning. Ownership costs in the area have risen alongside rents, which can sustain renter reliance on multifamily housing, but it also warrants disciplined pricing and resident retention strategies. Limited immediate-walkable amenities point to an emphasis on on-site offerings and convenience to job centers as differentiators.
- Neighborhood-level occupancy trends near the national top quartile support leasing stability with effective operations.
- 1983 vintage vs. newer local stock creates clear value-add pathways in interiors, systems, and amenities.
- Diversified nearby employers (homebuilding, electronics, life sciences, defense) reinforce commute-driven renter demand.
- Owner-tilted neighborhood and rising housing costs support multifamily reliance but call for pricing discipline and retention focus.
- Risks: thinner immediate amenity density and mixed safety signals warrant prudent security and marketing strategies.