| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 51st | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5211 Peninsula Way, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2006-12-01 |
| Transaction Price | $16,375,000 |
| Buyer | WESTDALE LAKEWAY COLONY LLC |
| Seller | SIMPSON FINANCING LP |
5211 Peninsula Way Garland, TX Multifamily Investment
Investor thesis centers on a deep renter base and relatively attainable rents in the surrounding neighborhood, according to WDSuite’s CRE market data, though occupancy is referenced at the neighborhood level and can vary by asset.
Located in Garland’s inner-suburb fabric of the Dallas–Plano–Irving metro, the neighborhood offers day-to-day convenience with grocery access that is competitive among Dallas–Plano–Irving neighborhoods (ranked against 1,108 neighborhoods). Restaurant options track around the metro middle, while cafes, parks, and pharmacies are limited nearby—an operational consideration for positioning and amenities.
Neighborhood rent levels sit in a mid-range nationally, and the rent-to-income profile indicates lower affordability pressure relative to many U.S. areas. For investors, that can support lease retention and measured pricing power, while still requiring disciplined lease management as conditions evolve.
The share of renter-occupied housing units in the neighborhood is high (top percentile nationally), pointing to a broad tenant base. However, neighborhood multifamily occupancy is on the softer side at the moment; this is measured for the neighborhood, not the property, and suggests the importance of active marketing, resident experience, and leasing execution to stabilize and grow NOI.
Within a 3-mile radius, demographics show population and household growth over recent years with further increases projected, alongside rising median incomes. This combination typically expands the renter pool and supports absorption. Compared with national trends, the local household size remains larger but is projected to edge lower, which can diversify unit-type demand (from family-sized to smaller formats).
Safety trends are mixed when benchmarked across the Dallas–Plano–Irving metro’s 1,108 neighborhoods. Overall crime positioning sits below the metro median and below national averages, but recent data indicate a notable year-over-year decline in property offenses, a constructive directional signal for operators and residents.
Interpret these metrics as neighborhood context rather than block-level conditions; investors should underwrite with current on-site security practices and recent leasing feedback while monitoring whether the improving property crime trend persists.
Proximity to major employers supports workforce housing demand and commute convenience, notably in homebuilding, life sciences, electronics distribution, defense and aerospace, and semiconductors.
- D.R. Horton — homebuilding (2.6 miles)
- Thermo Fisher Scientific — life sciences (11.6 miles)
- Avnet Electronics — electronics distribution (11.7 miles)
- General Dynamics — defense & aerospace offices (12.1 miles)
- Texas Instruments — semiconductors (12.6 miles) — HQ
This location pairs a large renter-occupied housing base with mid-range rents and a rent-to-income profile that tends to support retention. While neighborhood occupancy is currently softer (neighborhood metric, not property-specific), nearby employment access and steady 3-mile population and household growth create a path for stable leasing with the right operating plan. According to CRE market data from WDSuite, grocery access is competitive for the metro, though limited parks and cafes suggest value in on-site amenities and resident programming.
Forward-looking demographics within 3 miles point to continued population growth, rising household incomes, and a gradual shift toward smaller household sizes—factors that can widen the tenant base and support occupancy stability over time. Ownership costs in the immediate neighborhood are relatively accessible by national standards, which can introduce some competition from first-time buyers; underwriting should balance this against the depth of the renter pool and proximity to employers.
- High renter-occupied share supports a deep, enduring tenant base
- Mid-range rents and manageable rent-to-income strengthen retention potential
- 3-mile population and income growth expands demand and supports absorption
- Employer proximity underpins workforce demand and commute convenience
- Risk: neighborhood occupancy is softer; plan for active leasing and resident experience