| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 53rd | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3701 Easton Meadows Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | 2006-12-01 |
| Transaction Price | $9,400,000 |
| Buyer | WESTDALE LAKEWAY TRACE LLC |
| Seller | SIMPSON FINANCING LP |
3701 Easton Meadows Dr Garland Multifamily Investment
Positioned in an inner-suburb pocket of Garland with a deep renter base and everyday retail nearby, the asset offers steady demand drivers and value-add potential, according to WDSuite’s CRE market data. Neighborhood occupancy trends are near national norms, while renter concentration is notably strong for the metro.
Rated A- overall and ranking 247 out of 1,108 within the Dallas-Plano-Irving metro, the neighborhood sits in the top quartile locally, signaling balanced fundamentals for multifamily investors. Retail conveniences are a differentiator: grocery and pharmacy access rank competitively among Dallas-Plano-Irving neighborhoods, and cafes and restaurants are denser than typical areas nationally. Park access is limited, which may modestly affect lifestyle appeal but is offset by nearby daily needs.
Renter-occupied share is high for the metro (top percentile nationally), supporting a larger tenant base and consistent leasing activity. Neighborhood occupancy is around the national midpoint and has softened from five years ago, suggesting prudent underwriting on lease-up timing and renewal management. Median contract rents have risen meaningfully over the period, reinforcing sustained renter demand even as operators should remain attentive to affordability and retention.
Within a 3-mile radius, population and household counts have grown over the last five years, with further increases projected, indicating an expanding renter pool that can support occupancy stability. Household incomes have also advanced, while the local rent-to-income profile implies manageable affordability pressure relative to many peer submarkets—helpful for renewal rates and minimizing costly turnover.
Home values sit in a mid-range context for the region. In investor terms, this is a high-cost ownership market relative to entry-level buyers in some Texas suburbs, which can sustain reliance on rental housing and support lease retention. Taken together with competitive retail density and an inner-suburban location, the area continues to screen favorably in commercial real estate analysis based on CRE market data from WDSuite.
Safety performance is mixed relative to both the metro and the nation. The neighborhood’s crime profile ranks 709 out of 1,108 Dallas-Plano-Irving neighborhoods, indicating below-average safety compared to many local peers, and it sits below the national median. Violent and property offense measures trail national percentiles, though recent data shows property offenses trending down year over year, which is a constructive sign to monitor.
For investors, the takeaway is to underwrite modestly higher security and operating provisions versus stronger-ranked submarkets, while watching trend direction. Comparative positioning can still be workable where demand drivers are durable and operational strategies (lighting, access control, resident engagement) are consistently applied.
Nearby employers create a broad white-collar and technical employment base that supports renter demand and commute convenience for workforce and professional tenants. Notable names within a practical drive include D.R. Horton, Thermo Fisher Scientific, Avnet, Texas Instruments South Campus, and General Dynamics.
- D.R. Horton — homebuilding corporate offices (2.8 miles)
- Thermo Fisher Scientific — life sciences (10.7 miles)
- Avnet Electronics — electronics distribution (11.1 miles)
- Texas Instruments South Campus — semiconductors (11.2 miles)
- General Dynamics — defense & aerospace offices (11.3 miles)
This 30-unit asset, built in 1983, is slightly older than the neighborhood’s average vintage, pointing to potential value-add via exterior refresh, interiors, and systems planning. Renter concentration is among the strongest in the metro, and neighborhood occupancy sits near national norms; together with meaningful five-year rent growth, this supports steady baseline demand. According to CRE market data from WDSuite, retail access is competitive for Dallas-Plano-Irving, which can aid leasing and retention.
Within a 3-mile radius, population and households have expanded with additional growth forecast, implying a larger tenant base over the medium term. Ownership costs in the area are not low, which sustains renter reliance on multifamily housing and can support pricing power, though operators should balance this with lease management to mitigate affordability pressure and turnover risk.
- Inner-suburban location with strong renter-occupied share and competitive retail access
- 1983 vintage offers clear value-add and modernization pathways
- 3-mile population and household growth supports a larger tenant base and occupancy stability
- Mid-range ownership costs reinforce reliance on rental housing, aiding lease retention
- Risks: below-median safety rankings and prior occupancy softening warrant conservative underwriting and active operations