| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 51st | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6109 Bay Island Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1972 |
| Units | 120 |
| Transaction Date | 2016-03-08 |
| Transaction Price | $6,206,300 |
| Buyer | 6109 BAY ISLAND LLC |
| Seller | MEADOWS DENISON INVESTMENTS LLC |
6109 Bay Island Dr Garland Multifamily Value-Add Potential
Renter-occupied housing is concentrated in the surrounding neighborhood, pointing to a deep tenant base, while nearby employment nodes underpin steady leasing fundamentals, according to WDSuite’s CRE market data.
Situated in Garland’s inner-suburban fabric of the Dallas–Plano–Irving metro, the property benefits from a neighborhood with strong renter concentration; a large share of housing units are renter-occupied, indicating depth for multifamily demand at the sub-neighborhood level. Neighborhood rents sit slightly above national medians, while grocery access is comparatively convenient locally. By contrast, overall neighborhood occupancy is lower than national norms; investors should underwrite to active leasing and retention management rather than assuming full stabilization from day one.
Within a 3-mile radius, demographics indicate a growing tenant pool: recent years show population and household growth with expectations for further increases through the mid-term forecast horizon. Rising median household incomes in this radius expand the qualified renter base and can support rent levels commensurate with unit quality and competitive positioning, which is relevant for renewal strategies and pricing power.
The 1972 construction year is older than the neighborhood’s average vintage, suggesting capital planning will matter. Thoughtful renovations and system upgrades can improve competitive standing versus newer stock from the early 1980s and later, while still targeting workforce renters drawn by proximity to jobs. For investors pursuing a value-add thesis, unit modernization and common-area enhancements can help drive absorption and stabilize occupancy.
Local amenities are serviceable rather than destination-oriented. While cafes, parks, and childcare are limited at the immediate neighborhood scale, everyday needs like groceries are accessible, and regional connectivity across East Dallas provides additional retail and employment options. This positioning favors residents prioritizing commute efficiency and attainable rent levels over boutique amenity density.
Safety trends are mixed at the neighborhood scale. Compared with neighborhoods nationwide, overall safety performance sits below the national median. Within the Dallas–Plano–Irving metro, the neighborhood ranks below the metro median among 1,108 neighborhoods, indicating comparatively higher crime exposure than many peer areas.
Recent data show a noteworthy decline in property offense rates over the last year, an encouraging directional trend. However, violent offense measures have risen year-over-year, warranting ongoing monitoring and prudent site-level security practices. Investors should evaluate asset-specific factors (lighting, access control, property management) and consider how these can mitigate broader-area risks while supporting resident retention.
Nearby employment anchors span homebuilding, electronics distribution, life sciences, defense, and semiconductors, supporting commuter convenience and a steady pool of renters aligned with workforce housing demand.
- D.R. Horton, America's Builder — homebuilding corporate offices (2.3 miles)
- Avnet Electronics — electronics distribution (11.6 miles)
- Thermo Fisher Scientific — life sciences offices (11.7 miles)
- General Dynamics — defense & aerospace offices (12.3 miles)
- Texas Instruments South Campus — semiconductors (12.8 miles)
This 120-unit, 1972-vintage asset presents an operational and physical value-add angle in a renter-heavy neighborhood that supplies a broad tenant base. Neighborhood occupancy trends are softer than national norms, so the thesis relies on hands-on leasing, renewals, and unit upgrades to capture demand from commuters tied to nearby corporate nodes. Within a 3-mile radius, population and household growth alongside higher incomes expand the qualified renter pool and support rentability for renovated product.
According to CRE market data from WDSuite, neighborhood-level rents track slightly above national medians while ownership costs remain accessible in the immediate area, implying competitive pressure from entry-level ownership but also sustained renter reliance on multifamily given commute convenience and amenity access. Executing targeted renovations and property management initiatives can improve competitive positioning against newer stock and support occupancy stability over the hold.
- Renter-occupied concentration in the neighborhood supports a deep tenant base for multifamily.
- 1972 vintage offers clear value-add pathways via interior upgrades and systems modernization.
- 3-mile radius shows growing households and rising incomes, expanding the pool of qualified renters.
- Proximity to diversified employers underpins leasing demand and renewal potential.
- Risk: Neighborhood occupancy and safety metrics lag peers; plan for active leasing, security, and retention management.