| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 51st | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6125 Marvin Loving Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 28 |
| Transaction Date | 2011-03-31 |
| Transaction Price | $15,150,000 |
| Buyer | LANDMARK LAKEWAY POINT L P |
| Seller | WESTDALE LAKEWAY GROUP LLC |
6125 Marvin Loving Dr Garland Multifamily Value-Add
Renter demand is supported by a high neighborhood renter concentration and expanding household counts within a 3-mile radius, according to WDSuite s CRE market data. Positioned for practical upgrades to meet steady workforce housing needs.
Located in Garland s inner-suburban fabric of the Dallas Plano Irving metro, the property benefits from everyday conveniences and commuter access. Grocery availability tests in the top quartile nationally, while cafes, parks, and pharmacies are relatively limited nearby, indicating a pragmatic but not amenity-rich setting for value-focused renters.
Neighborhood-level occupancy trends sit below the metro average (ranked 1,080 among 1,108 metro neighborhoods), signaling lease-up and management execution are important to the thesis. At the same time, the area records a strong renter concentration about two-thirds of housing units are renter-occupied and in the 96th percentile nationally which supports a deep tenant base for multifamily.
Demographic statistics aggregated within a 3-mile radius show population and household growth over the last five years with further increases forecast, expanding the local renter pool. Household incomes in this 3-mile area have risen, and median contract rents have increased from prior periods, suggesting capacity for professionally managed product while keeping a close eye on affordability dynamics and lease retention.
Home values in the immediate neighborhood are lower than national norms (22nd percentile), which can make ownership more accessible relative to higher-cost submarkets. For investors, that context implies potential competition from entry-level ownership, balanced by the neighborhood s elevated share of renter-occupied units and the metro s broad employment base.
Safety indicators are mixed when benchmarked against the Dallas Plano Irving metro and national peers. The neighborhood ranks 661 out of 1,108 metro neighborhoods on overall crime, placing it below metro average and below national percentiles. However, property offense estimates show a meaningful year-over-year decline recently, indicating improvement momentum.
Nationally benchmarked, recent data places violent and property offense rates below mid-range percentiles, so prudent security measures and active management remain relevant. Investors should underwrite with conservative assumptions while noting the improving trend in property offenses and monitoring neighborhood-level changes over time.
Proximity to diversified employers supports leasing stability and commute convenience for residents, with concentrations in homebuilding, semiconductors, and defense & aerospace reflected below.
- D.R. Horton homebuilding (2.1 miles)
- Avnet Electronics electronics distribution (11.5 miles)
- Thermo Fisher Scientific life sciences offices (11.6 miles)
- General Dynamics defense & aerospace offices (12.1 miles)
- Texas Instruments South Campus semiconductors (12.7 miles)
- Raytheon defense & aerospace (12.8 miles)
- Texas Instruments semiconductors (13.0 miles) HQ
- Dean Foods food & beverage (15.0 miles) HQ
- Energy Transfer Equity energy infrastructure (15.4 miles) HQ
This 28-unit asset, built in 1983, offers a practical value-add path in an inner-suburban Garland location. The neighborhood s occupancy level trails metro averages, but a high share of renter-occupied housing supports demand depth, and 3-mile demographics point to population and household growth that expands the renter pool. According to CRE market data from WDSuite, grocery access outperforms national norms while other amenities are thinner, positioning the property for residents prioritizing convenience and price point over lifestyle extras.
The 1983 vintage may call for targeted capital planning systems upgrades and unit renovations can improve competitiveness against newer stock and help capture rising incomes observed within the 3-mile area. Neighborhood home values sit below national norms, which can increase competition from ownership alternatives; even so, a substantial renter base and manageable rent-to-income dynamics support lease retention when paired with disciplined operations.
- Strong renter concentration supports tenant base despite below-metro occupancy
- 3-mile population and household growth expands demand for rentals
- 1983 vintage offers value-add potential through targeted renovations
- Everyday retail access (notably groceries) fits workforce housing positioning
- Risks: softer neighborhood occupancy, lean amenity mix, and safety metrics below national medians