| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 53rd | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3501 Easton Meadows Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 114 |
| Transaction Date | 2006-12-01 |
| Transaction Price | $9,400,000 |
| Buyer | WESTDALE LAKEWAY TRACE LLC |
| Seller | SIMPSON FINANCING LP |
3501 Easton Meadows Dr Garland Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and convenience-driven living, according to WDSuite’s CRE market data. For investors, the area’s inner-suburb profile suggests durable occupancy for well-managed assets.
Neighborhood and Livability
Located in Garland’s inner suburb of the Dallas–Plano–Irving metro, the neighborhood is rated A- and ranks in the top quartile among 1,108 metro neighborhoods. This positioning signals competitive livability and renter appeal compared with many nearby submarkets, based on CRE market data from WDSuite.
Daily needs are well served: grocery and pharmacy access are strong relative to national norms, and cafés and restaurants are present at levels supportive of convenience-oriented living. Park access is limited, so on-site open space and amenity programming can help differentiate a property.
School ratings trend below national averages, which may modestly influence household mix; however, the area’s convenience profile and service/retail access still support multifamily renter demand. Median contract rents in the neighborhood have risen over the past five years, while rent-to-income levels indicate generally manageable affordability pressure—helpful for lease retention.
Within a 3-mile radius, recent years show population and household growth, alongside meaningful income gains and projected further increases by 2028. This expansion points to a larger tenant base over time and supports occupancy stability. Property vintage in the neighborhood skews to the late 1980s; with a 1983 construction year, this asset is slightly older than average, suggesting potential value-add through targeted renovations and capital planning informed by multifamily property research from WDSuite.
Safety Context
Relative to neighborhoods nationwide, this area sits below the national middle of the pack on safety measures. Within the Dallas–Plano–Irving metro, its crime rank places it below the metro median among 1,108 neighborhoods, signaling a risk profile investors should underwrite conservatively.
Recent trends are mixed: estimated property offenses have improved year over year, while violent offense estimates have moved higher. This combination suggests conditions can shift and should be tracked at renewal and marketing cycles. Use neighborhood-level data points for comps and underwriting assumptions rather than block-level conclusions.
Proximity to major employers supports a broad workforce renter base and commute convenience, notably in homebuilding, life sciences, electronics, semiconductors, and defense. The following nearby employers anchor demand within practical drive times.
- D.R. Horton, America's Builder — homebuilding corporate offices (2.8 miles)
- Thermo Fisher Scientific — life sciences (10.6 miles)
- Avnet Electronics — electronics distribution (11.0 miles)
- Texas Instruments South Campus — semiconductors offices (11.1 miles)
- General Dynamics — defense & aerospace offices (11.2 miles)
Investment Thesis
This 114-unit, 1983-vintage asset sits in a competitively ranked inner-suburban neighborhood where convenience retail and services underpin daily-life appeal. Neighborhood occupancy has softened versus prior years but remains broadly supported by a sizable renter-occupied housing base and manageable rent-to-income dynamics, according to CRE market data from WDSuite. The asset’s slightly older vintage versus the late-1980s neighborhood norm points to value-add potential through unit and system upgrades to enhance leasing velocity and retention.
Within a 3-mile radius, population and households have been expanding and are projected to grow further, pointing to a larger tenant base over time. Strong access to daily amenities supports retention, while limited park space and below-average school ratings warrant tailored amenity and marketing strategies to sustain occupancy and pricing power.
- Competitive inner-suburban location with strong daily-needs retail supporting renter convenience
- Demand support from a sizable renter-occupied housing base and manageable rent-to-income conditions
- 1983 vintage offers value-add and modernization upside versus later-1980s neighborhood stock
- Growing 3-mile population and household counts expand the local tenant pool over the forecast period
- Risks: below-median metro safety positioning, softer neighborhood occupancy trend, and lower school ratings