| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 43rd | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2156 Cranford Dr, Garland, TX, 75041, US |
| Region / Metro | Garland |
| Year of Construction | 1985 |
| Units | 100 |
| Transaction Date | 1997-08-12 |
| Transaction Price | $2,975,000 |
| Buyer | FOX BEND DEVELOPMENT ASSOCIATES LTD |
| Seller | CLEVELAND BARBARA JEAN |
2156 Cranford Dr, Garland TX — 100-Unit Multifamily Opportunity
Neighborhood occupancy trends sit modestly above the national midpoint and rent-to-income is manageable, supporting retention and cash flow resilience according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Garland within the Dallas–Plano–Irving metro, the neighborhood shows stable renter demand signals: neighborhood occupancy is in the upper half nationally, and renter-occupied share indicates a meaningful tenant base. While these are neighborhood-level metrics (not property-specific), they point to steady leasing conditions for multifamily assets in this area.
Everyday convenience is a relative strength. Grocery access is strong compared with neighborhoods nationwide, and restaurants are dense for an inner-suburban location. Childcare availability also ranks high nationally. By contrast, immediate park and pharmacy density is limited, which may constrain some lifestyle appeal but rarely undermines workforce housing fundamentals.
The property’s 1985 vintage is slightly newer than the area’s average construction year. For investors, that can offer a competitive edge versus older stock while still warranting targeted capital plans around aging systems, common-area refreshes, and unit modernization to drive rent premiums and reduce near-term maintenance risk.
Within a 3-mile radius, recent years show softer population and household counts, but forward-looking projections indicate population growth, a larger number of households, and rising household incomes by the next five-year window. This expected renter pool expansion supports occupancy stability and potential pricing power as new households enter the market, based on commercial real estate analysis from WDSuite.
Home values in the neighborhood sit near the national mid-range, and rent-to-income levels are around 0.12. In practice, that balance can sustain rental demand and support lease retention, as households weigh a high-cost ownership market in Dallas County against more accessible monthly rents.
Safety indicators are mixed when viewed against national benchmarks. Property offense and violent offense rates sit below the national midpoint, but both categories have shown notable year-over-year improvement, according to WDSuite’s CRE market data. This suggests conditions are trending in a favorable direction at the neighborhood level, though investors should continue to monitor local trends as part of underwriting.
The area benefits from proximity to major engineering, energy, and manufacturing employers that deepen the regional renter pool and support commute-friendly workforce housing. Nearby anchors include Texas Instruments, D.R. Horton, Thermo Fisher Scientific, General Dynamics, and Energy Transfer.
- Texas Instruments South Campus — semiconductor (5.9 miles)
- D.R. Horton, America's Builder — homebuilding (5.9 miles)
- Texas Instruments — semiconductor R&D and offices (6.2 miles) — HQ
- Thermo Fisher Scientific — life sciences (6.5 miles)
- General Dynamics — defense & aerospace offices (7.2 miles)
- Avnet Electronics — electronics distribution (8.0 miles)
- Energy Transfer Equity — energy infrastructure (8.7 miles) — HQ
- Raytheon — defense & aerospace (8.8 miles)
- Dean Foods — food & beverage (9.2 miles) — HQ
- Energy Transfer — energy infrastructure (9.4 miles)
This 100‑unit, 1985-vintage asset in Garland stands in a neighborhood with steady renter fundamentals: occupancy measures are modestly above the national midpoint, grocery/restaurant access is comparatively strong, and the renter base is sizable. Forward projections within a 3‑mile radius point to population growth, rising incomes, and more households, which supports a larger tenant base and potential rent durability over the hold. According to CRE market data from WDSuite, rent-to-income near 0.12 indicates manageable affordability pressure that can aid retention.
From an operational perspective, the vintage presents value‑add angles via unit/interior refresh, common-area improvements, and selective system upgrades to enhance competitiveness versus older stock. Investors should underwrite normalizing for mixed safety indicators and modest school ratings while recognizing year-over-year improvement trends at the neighborhood level.
- Neighborhood occupancy and renter base support stable leasing conditions
- 1985 vintage with clear value‑add paths (interiors, systems, amenities)
- Proximity to major employers underpins workforce housing demand
- Forecast growth in 3‑mile population, households, and incomes expands the tenant base
- Risks: mixed safety signals, limited nearby parks/pharmacies, and modest school ratings