| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 53rd | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3805 Easton Meadows Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | 2018-02-23 |
| Transaction Price | $25,000,000 |
| Buyer | 4358 POINT LLC |
| Seller | LANDMARK AT LAKEAYS EAST LLC |
3805 Easton Meadows Dr Garland Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by a deep renter-occupied housing base and everyday retail access, according to WDSuite’s CRE market data. Proximity to major employers across Dallas’ eastern corridor adds leasing resilience for a 30‑unit asset.
This Inner Suburb location in Garland benefits from daily-needs convenience: grocery and pharmacy density sits well above national norms, while restaurants and cafes are competitive, supporting day‑to‑day livability that helps retention. The neighborhood’s overall rating is A‑, ranked 247 out of 1,108 Dallas‑Plano‑Irving neighborhoods, placing it above the metro median. Rents trend around the 71st national percentile, signaling capacity for stabilized operations without relying on top‑of‑market positioning.
Renter concentration in the neighborhood is high (71.6% of housing units are renter‑occupied), indicating a broad tenant base and sustained leasing activity for multifamily investors. At the same time, neighborhood occupancy is roughly mid‑pack nationally and has eased over the past five years, suggesting prudent asset management and competitive positioning matter for maintaining occupancy stability.
Within a 3‑mile radius, population and households have grown over the last five years, and forecasts point to further increases by 2028 alongside a modest reduction in average household size. These trends expand the local renter pool and support absorption for well‑maintained properties. Median contract rents in the 3‑mile area have risen meaningfully, reinforcing pricing power where unit quality aligns with local expectations, based on commercial real estate analysis from WDSuite.
Schools rate below the national median and park access is limited in the immediate neighborhood, factors that can matter for certain renter segments. For investors, that places greater weight on unit finishes, on‑site amenities, and connectivity to employment to drive leasing performance.
Vintage is relevant: built in 1983 versus a neighborhood average closer to the late 1980s, the asset is modestly older than nearby stock. That typically implies targeted capital planning for systems, exteriors, and interiors—and potential value‑add upside where renovations can differentiate against slightly newer comparables.
Ownership costs in the area are moderate by national standards, which can introduce some competition from for‑sale options. Lease management and amenity programming can help sustain pricing power and retention where residents weigh renting against entry‑level homeownership.
Safety indicators for the neighborhood trend below the national median, with overall crime measures weaker than many Dallas‑Plano‑Irving peers. In metro terms, the neighborhood’s crime rank is in the lower half among 1,108 neighborhoods, signaling investors should underwrite with attention to security features and tenant screening.
Recent trends are mixed: estimated property offenses have declined year over year, while estimated violent offenses increased over the same period. Taken together, prudent measures—lighting, access control, and active management—can support resident confidence and leasing stability. As always, investors should review the most current local data and compare against submarket peers when sizing operating reserves.
The property sits within commuting reach of major corporate employers that support a diverse workforce tenant base, including D.R. Horton, Thermo Fisher Scientific, Avnet Electronics, and Texas Instruments (both South Campus and HQ). Proximity to these organizations can aid leasing, renewals, and weekday occupancy.
- D.R. Horton — homebuilding (2.8 miles)
- Thermo Fisher Scientific — life sciences (10.8 miles)
- Avnet Electronics — electronics distribution (11.1 miles)
- Texas Instruments South Campus — semiconductors (11.2 miles)
- Texas Instruments — semiconductors (11.5 miles) — HQ
The investment case centers on reliable renter demand, commuter access to blue‑chip employers, and a neighborhood that outperforms the metro median on overall quality. Built in 1983, the asset is slightly older than nearby stock, creating clear value‑add potential through targeted systems, exterior, and interior upgrades—while everyday retail depth and a strong renter base support ongoing absorption. According to CRE market data from WDSuite, neighborhood occupancy is mid‑range nationally and renter concentration is high, indicating a sizable tenant base even as operators should stay active on leasing and renewals.
Within a 3‑mile radius, population and households have grown and are projected to continue rising by 2028, expanding the tenant pool and supporting occupancy stability. Ownership costs are moderate relative to incomes locally, which can introduce some competition from entry‑level for‑sale options, but also helps retention where units are well‑maintained and priced to market.
- Strong neighborhood fundamentals above the metro median with daily-needs retail depth aiding retention
- High renter-occupied share locally supports a broad tenant base and leasing durability
- 1983 vintage offers value-add upside via targeted renovations and operational improvements
- Risk: safety metrics trend below national median and occupancy has softened—underwrite security, marketing, and reserves