| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 51st | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5817 Lake Hubbard Pkwy, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1972 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5817 Lake Hubbard Pkwy, Garland TX Multifamily Investment
High renter concentration in the surrounding neighborhood and household growth within a 3-mile radius point to durable tenant demand, according to WDSuite’s CRE market data. This inner-suburban location offers workforce access and pricing that can support retention while allowing thoughtful upgrades.
Located in Garland’s inner suburbs of the Dallas-Plano-Irving metro, the property sits in a neighborhood rated C with a rank of 851 out of 1,108 metro neighborhoods, indicating performance below the metro median. For investors, the immediate area functions as attainable, workforce-oriented housing rather than a high-amenity enclave.
Livability is anchored by everyday conveniences more than lifestyle retail. Grocery access is comparatively strong (nationally around the upper quartile), while cafes, parks, and pharmacies are limited within the neighborhood itself. Restaurant density tracks around national mid-range. These dynamics suggest residents rely on near- to mid-distance corridors for services, reinforcing demand for practical, value-forward apartment product.
Renter-occupied share is high in the neighborhood at 66.3% (top decile nationally), signaling a deep tenant base for multifamily leasing. Neighborhood occupancy is softer (ranked 1,080 of 1,108 in the metro; low national percentile), so asset performance will depend more on property-level management, renovations, and competitive positioning than on tight submarket supply. Median contract rents have risen over the last five years, according to WDSuite’s CRE market data, supporting a case for disciplined rent growth where product is refreshed.
Within a 3-mile radius, population and households have increased over the past five years, with projections indicating continued population growth and a notable increase in households ahead. This points to a larger tenant base and more renters entering the market, which can support occupancy stability and leasing velocity even as household sizes edge lower. Median household incomes in the 3-mile area are higher than the neighborhood-level figures, which can broaden the renter pool for renovated units.
Home values in the neighborhood sit well below national medians, meaning ownership is relatively more accessible than in high-cost markets. For investors, that implies some competition from entry-level ownership; however, rent-to-income ratios trend on the low side locally, which can support retention and reduce turnover risk for well-managed, reasonably priced units.
Vintage matters: the property’s 1972 construction predates the area’s average (1982). That age profile points to capital planning needs but also value-add potential through unit/interior modernization and system upgrades, improving relative competitiveness against both older stock and nearby renovated options.
Safety conditions are mixed and should be evaluated at the broader neighborhood level rather than by block. Compared with neighborhoods nationwide, the area scores in the lower national percentiles for both violent and property offense rates, indicating comparatively higher recorded incidents. Within the Dallas-Plano-Irving metro, the neighborhood’s crime rank is 661 out of 1,108, which is below the metro median.
Trend-wise, estimated property offense rates improved over the most recent year, placing that decline around the upper third nationally for year-over-year improvement. Investors should underwrite to daytime/nighttime patterns and property-level measures (lighting, access control, resident screening) to support leasing and retention.
The area draws from a diverse employment base spanning homebuilding, electronics distribution, life sciences, defense, and semiconductors, which supports renter demand and commute convenience for workforce tenants. Notable nearby employers include D.R. Horton, Avnet Electronics, Thermo Fisher Scientific, General Dynamics, and Texas Instruments.
- D.R. Horton — homebuilding (2.3 miles)
- Avnet Electronics — electronics distribution (11.6 miles)
- Thermo Fisher Scientific — life sciences (11.7 miles)
- General Dynamics — defense & aerospace offices (12.2 miles)
- Texas Instruments — semiconductors (12.9 miles) — HQ
This 38-unit, 1972-vintage asset offers a pragmatic value-add play in an inner-suburban Garland location. The neighborhood shows a high renter-occupied share, reinforcing depth of demand, while 3-mile demographics point to population growth and a meaningful increase in households ahead—favorable for tenant base expansion and leasing stability. According to CRE market data from WDSuite, neighborhood occupancy is softer versus metro peers, so upside depends on executing renovations and operations that raise the asset above nearby competition.
Neighborhood ownership costs remain comparatively accessible, which can create some competition with entry-level ownership. That said, rising local rents, improving property-offense trends, and a diversified employment base within commuting distance support a steady renter pipeline. Focus should be on targeted capex, curb appeal, and unit modernization to capture rent premiums without overreaching on affordability.
- High renter concentration supports demand depth for multifamily leasing
- 3-mile population and household growth expand the tenant base and support occupancy
- 1972 vintage presents value-add and modernization upside with disciplined capital planning
- Diverse nearby employers underpin workforce housing demand and retention
- Risk: softer neighborhood occupancy and modest amenity density require above-market operations to realize rent lift