| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 40th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 Gatewood Rd, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1982 |
| Units | 60 |
| Transaction Date | 1994-08-10 |
| Transaction Price | $762,500 |
| Buyer | CWL INVESTMENTS CO |
| Seller | BILL JAY CORP |
424 Gatewood Rd, Garland TX Multifamily Investment
Positioned in an inner-suburb of Dallas, the asset benefits from steady neighborhood occupancy and a sizable renter base, according to WDSuite’s CRE market data, supporting durable cash flow potential relative to older Class B/C peers.
This inner-suburban Garland location offers balanced livability for workforce renters: strong access to parks and everyday retail (notably groceries) alongside family-oriented services, while coffee shop and pharmacy density is thinner than core Dallas. Rents in the neighborhood sit on the higher side relative to many U.S. areas, and occupancy has remained firm, signaling stable demand for well-managed units.
The property s 1982 vintage mirrors the neighborhood s average construction year. For investors, this typically implies ongoing capital planning for systems and interiors, with scope to elevate finishes and amenity touches to compete against newer stock without fully repositioning the asset.
Tenure patterns indicate a substantial share of housing units are renter-occupied at the neighborhood level, supporting depth of the tenant base and day-one leasing velocity. Within a 3-mile radius, demographic statistics show a stable population with modest growth and an increasing household count over the next five years, suggesting a gradual expansion of the renter pool and support for occupancy stability.
Home values in this part of Garland are lower than many coastal metros, creating a more accessible ownership market. For multifamily investors, that can mean pockets of competition from entry-level ownership; however, steady neighborhood occupancy and ongoing household growth point to sustained rental demand and manageable retention with disciplined lease management.
Safety trends in the neighborhood are mixed compared with national and metro benchmarks. Based on WDSuite s data, the area sits below the metro median on crime rank (ranked 707 among 1,108 Dallas Plano Irving neighborhoods), suggesting investors should underwrite prudent on-site security and lighting, along with resident engagement practices.
Nationally, the neighborhood performs below the median on both violent and property offense measures. Recent year-over-year readings show some uptick, so risk management such as camera coverage, access control, and coordination with local patrols can help support resident satisfaction and retention.
Nearby corporate employment spans homebuilding, life sciences, and semiconductor/defense, supporting a diversified renter base and commute-friendly appeal for workforce tenants. The employers listed below reflect this mix and are within a typical drive-time radius that can aid leasing stability.
- D.R. Horton, America's Builder homebuilding (3.6 miles)
- Thermo Fisher Scientific life sciences (9.1 miles)
- Texas Instruments South Campus semiconductors (9.2 miles)
- Texas Instruments semiconductors (9.5 miles) HQ
- General Dynamics defense & aerospace offices (9.7 miles)
The 60-unit property at 424 Gatewood Rd was built in 1982, aligning with the neighborhood s vintage and offering clear value-add potential through targeted interior upgrades and modernization of building systems. Neighborhood occupancy has held in the mid-90s with rents that are competitive for the Dallas Fort Worth metro, pointing to durable renter demand and room to differentiate through operations and refreshed finishes. According to CRE market data from WDSuite, local amenities skew toward parks, groceries, and family services, which helps reinforce day-to-day convenience for residents.
Within a 3-mile radius, demographics indicate steady population trends and an increase in households over the next five years, expanding the local tenant base and supporting leasing and retention. While ownership is relatively accessible in this submarket, disciplined pricing, focus on livability upgrades, and attention to resident experience can sustain demand and mitigate competitive pressure from entry-level for-sale options.
- Value-add path: 1982 construction supports ROI from interior refreshes and system updates to lift rents and retention.
- Demand fundamentals: Stable neighborhood occupancy and household growth underpin a resilient renter pool.
- Location utility: Strong access to parks/groceries and proximity to diversified employers supports leasing stability.
- Pricing power management: Ownership accessibility may temper rent growth, requiring careful lease management and amenity execution.
- Risk oversight: Below-median safety metrics warrant practical security measures and community programming in underwriting.