| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 9th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2626 W Walnut St, Garland, TX, 75042, US |
| Region / Metro | Garland |
| Year of Construction | 1975 |
| Units | 45 |
| Transaction Date | 2018-12-06 |
| Transaction Price | $3,200,000 |
| Buyer | KREI WALNUT LLC |
| Seller | CASA BELLA TKFT LLC |
2626 W Walnut St Garland Multifamily Opportunity
Neighborhood occupancy is in the high-90s, indicating durable renter demand in this inner-suburban Dallas location; according to WDSuite’s CRE market data, stability at the neighborhood level supports consistent cash flow assumptions for comparable assets.
This inner-suburban Garland location offers daily convenience that supports resident retention: grocery and pharmacy access score in the high national percentiles (roughly upper 90s), while restaurants are plentiful. Cafe density and park access are lighter, so on-site amenities can help round out the living experience.
Neighborhood occupancy sits in the top quartile nationally and is competitive among Dallas-Plano-Irving neighborhoods (measured against 1,108 neighborhoods), pointing to steady leasing fundamentals. Median rents for the area benchmark in the low-to-mid range nationally and have risen materially over the past five years, suggesting sustained renter demand without relying on luxury pricing.
Within a 3-mile radius, population and households have grown and are projected to continue increasing over the next five years, expanding the local renter pool. The tenure mix shows roughly four-in-ten housing units are renter-occupied, indicating a balanced base of prospective tenants while still leaving room for multifamily to capture in-migration and household formation. These trends, based on CRE market data from WDSuite, support occupancy stability for workforce-oriented assets.
The asset’s 1975 vintage is slightly older than the neighborhood average, which implies near- to mid-term capital planning for systems and interiors; that said, it also positions the property for targeted value-add and modernization to stay competitive against newer stock.
Income levels in the immediate neighborhood are modest and rent-to-income ratios are elevated, which can create affordability pressure. Prudent lease management and thoughtful unit mix and finish strategies can help sustain retention while capturing achievable rent growth.
Safety conditions are mixed relative to national benchmarks. Overall crime levels track around the national middle, with property and violent incident rates comparing below the safest tier nationally. However, violent offense rates have improved notably year over year, placing the area among stronger improvers nationwide. Investors should underwrite standard security measures and lighting, while recognizing the positive directional trend.
Proximity to established employers supports a stable renter base and commute convenience, with concentration in life sciences, defense/aerospace, semiconductors, and electronics distribution.
- Thermo Fisher Scientific — life sciences (3.9 miles)
- General Dynamics — defense & aerospace offices (4.5 miles)
- Texas Instruments South Campus — semiconductors (4.9 miles)
- Texas Instruments — semiconductors (5.2 miles) — HQ
- Avnet Electronics — electronics distribution (5.3 miles)
The investment case centers on durable renter demand, convenience-driven livability, and value-add potential. Neighborhood occupancy trends in the high-90s and restaurants, grocery, and pharmacy density support leasing stability and day-to-day resident needs. Within a 3-mile radius, population and household growth — with additional expansion forecast — points to a larger tenant base over time. According to CRE market data from WDSuite, area rents have advanced over the last cycle while remaining broadly attainable, reinforcing depth of demand for practical finishes and efficient unit layouts.
Built in 1975, the property likely benefits from targeted renovations and systems upgrades to sharpen its competitive position against newer supply. Investors should also account for modest neighborhood incomes and elevated rent-to-income ratios, balancing pricing power with retention. Safety metrics are mid-pack nationally but improving, suggesting standard property-level measures can complement the positive trend.
- High neighborhood occupancy and strong daily-needs access support leasing stability.
- Expanding 3-mile renter pool from population and household growth underpins demand.
- 1975 vintage offers clear value-add and systems modernization pathways.
- Attainable rent positioning has supported growth, per WDSuite’s CRE market data.
- Risks: affordability pressure and mid-pack safety warrant prudent lease and operations planning.