| 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 | 1984 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
424 Gatewood Rd Garland TX Multifamily Investment
Neighborhood occupancy is above the metro median, and a majority of units are renter-occupied—signals of durable demand according to WDSuite’s CRE market data.
Neighborhood dynamics and investor context
The property is in an Inner Suburb of the Dallas–Plano–Irving metro with a B neighborhood rating and a standing that is above the metro median (rank 528 of 1,108 neighborhoods). For multifamily investors, this points to steady, workhorse fundamentals rather than volatility.
Neighborhood occupancy is above the metro median (95.4% with a modest five‑year gain), and renter-occupied housing accounts for 55.4% of units—top decile nationally—supporting a deep tenant base and stable leasing. Median contract rent locally trends in the mid‑$1,300s, while the broader 3‑mile area centers near the low‑$1,300s; coupled with a neighborhood rent‑to‑income ratio near 0.24, this suggests manageable affordability that can support collections and retention.
Amenity access is practical and demand‑supportive: grocery and parks are top quartile nationally, and restaurants are also top quartile, while cafes and pharmacies are limited within the neighborhood footprint. School rating data are not available in this feed; investors may wish to underwrite neutral assumptions pending property‑level diligence on catchments.
Within a 3‑mile radius, the population has been broadly stable with slight growth and households are projected to rise meaningfully over the next five years alongside a small decline in average household size—factors that can expand the renter pool and support occupancy. The area’s average construction year is 1982; at 1984, this asset is slightly newer than the neighborhood norm, offering a mild competitive edge versus older stock while still warranting targeted system updates and modernizations as part of a value‑add plan.
Safety context and comparative framing
Compared with Dallas–Plano–Irving neighborhoods, this area ranks above the metro median for safety (707 of 1,108). Nationally, percentiles fall in the lower half, indicating a middle‑of‑the‑pack profile rather than top‑tier safety.
Recent signals are mixed: property offense levels are estimated above national medians, and the one‑year change in violent offenses shows an upswing. Investors typically plan for appropriate lighting, access control, and visibility measures to support resident experience and retention.
Proximity to major employers
The location draws from a diversified employment base that supports renter demand and commute convenience, including D.R. Horton, Thermo Fisher Scientific, Texas Instruments (including South Campus), and General Dynamics.
- D.R. Horton, America's Builder — homebuilding corporate offices (3.6 miles)
- Thermo Fisher Scientific — life sciences and manufacturing offices (9.1 miles)
- Texas Instruments South Campus — semiconductor offices (9.2 miles)
- Texas Instruments — semiconductor HQ and offices (9.5 miles) — HQ
- General Dynamics — defense and aerospace offices (9.7 miles)
Investment thesis
This 60‑unit, 1984 vintage asset benefits from neighborhood occupancy above the metro median and a high renter concentration, indicating depth of tenant demand. Median rents in the neighborhood and the surrounding 3‑mile radius align with a rent‑to‑income ratio near 0.24, which—based on commercial real estate analysis from WDSuite—supports leasing stability and manageable affordability for a workforce‑oriented renter profile.
Amenity access is practical (top‑quartile groceries, parks, and restaurants), and proximity to diversified employers strengthens weekday traffic and retention. Being slightly newer than the local average vintage offers relative competitiveness versus older stock, with potential to capture value through targeted unit renovations and system updates. Risks to underwrite include nationally middling safety metrics and a more accessible ownership landscape that can influence pricing power through cycles.
- Above‑metro‑median neighborhood occupancy and a majority renter base support steady lease‑up and retention
- Manageable rent‑to‑income levels point to stable collections with room for programmatic value‑add
- Employer proximity across homebuilding, semiconductors, life sciences, and defense underpins demand
- Monitor nationally middling safety metrics and potential competition from more accessible homeownership options