| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 43rd | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4521 Bobtown Rd, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1982 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4521 Bobtown Rd Garland Multifamily Value-Add Opportunity
Neighborhood multifamily occupancy is holding near the mid‑90s, supporting steady leasing performance according to WDSuite’s CRE market data, and suburban demand drivers in Garland point to durable renter interest in this submarket.
This suburban pocket of Garland offers stable renter demand and access to the broader Dallas employment base. Neighborhood rents sit above the national median (around the low‑to‑mid 70s percentile), while neighborhood multifamily occupancy is elevated relative to national trends, helping support cash flow consistency at the submarket level.
Construction across the neighborhood skews toward the late 1990s on average, while the subject property was built in 1982. The older vintage suggests planning for near‑term capital expenditures and presents potential value‑add upside through targeted renovations to compete against newer stock.
Amenity density is thinner than many Dallas neighborhoods (amenities rank 776 out of 1,108 metro neighborhoods, which is below the metro median), but nearby park access scores competitively at a high national percentile, providing open‑space appeal despite limited retail clustering. This trade‑off favors residents prioritizing quieter, suburban living with access to the metro’s job centers via regional corridors.
Within a 3‑mile radius, demographic statistics show population and household growth over the past five years with further gains projected, expanding the tenant base. The renter‑occupied share is roughly four in ten housing units, indicating a sizable pool of prospective renters and supporting demand depth for 1–3 bedroom product. Median household incomes in the area have trended higher, and a moderate rent‑to‑income profile suggests manageable affordability pressure that can aid retention and measured pricing power over time.
Safety indicators are mixed and should be evaluated comparatively. Violent‑offense metrics benchmark well versus neighborhoods nationwide (top quartile for safety by national percentile), and recent year‑over‑year trends improved. In contrast, property‑offense measures sit below the national median and have recently ticked higher, warranting routine risk management and coordination with property security protocols.
Within the Dallas‑Plano‑Irving metro, the neighborhood’s crime rank (179 out of 1,108 neighborhoods) places it below the metro average on safety, even as national violent‑crime comparisons look favorable. Investors should underwrite with conservative assumptions around security and loss‑to‑lease, while recognizing that submarket safety patterns can vary block‑to‑block and over time.
Proximity to diversified employers underpins workforce housing demand and commute convenience, including homebuilding, life sciences, semiconductors, defense & aerospace, and food & beverage corporate offices listed below.
- D.R. Horton, America's Builder — homebuilding (2.9 miles)
- Thermo Fisher Scientific — life sciences (11.4 miles)
- Texas Instruments — semiconductors (12.2 miles) — HQ
- Raytheon — defense & aerospace (12.9 miles)
- Dean Foods — food & beverage (13.7 miles) — HQ
The property’s submarket shows above‑median neighborhood occupancy and rent positioning relative to national benchmarks, indicating resilient renter demand that supports leasing stability. Built in 1982, the asset is older than the neighborhood’s late‑1990s average, pointing to clear value‑add potential through interior upgrades and systems modernization to strengthen competitive positioning against newer supply.
Within a 3‑mile radius, population and household counts have increased and are projected to continue rising, expanding the renter pool and supporting long‑term absorption. According to commercial real estate analysis from WDSuite, area incomes have advanced alongside a moderate rent‑to‑income profile, which can aid retention and measured rent growth management. Investors should balance these fundamentals with prudent allowances for security measures and ongoing capital planning given the vintage and mixed property‑crime signals.
- Elevated neighborhood occupancy and above‑median rents support steady leasing dynamics
- 1982 vintage offers value‑add and systems‑upgrade pathways to enhance NOI
- Growing 3‑mile population and household base expands the tenant pool over the hold
- Diversified regional employers and suburban location reinforce demand for workforce housing
- Risks: mixed safety indicators (strong violent‑crime comparisons but softer property‑crime metrics) and capex needs typical of older assets