| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 53rd | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 Castleglen Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1989 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
620 Castleglen Dr, Garland TX Multifamily Investment
High renter concentration and steady neighborhood demand signal depth for leasing and renewals, according to CRE market data from WDSuite. Investor focus: neighborhood metrics point to durable tenant pools rather than short-term lease-up stories.
The property sits in an Inner Suburb location within the Dallas–Plano–Irving metro, where the neighborhood ranks 247 out of 1,108 — placing it in the top quartile among metro neighborhoods based on overall score. For investors, that positioning indicates competitive fundamentals versus many Dallas submarkets without relying on core CBD dynamics.
Amenity access is a relative strength: neighborhood measures for groceries and pharmacies track in higher national percentiles, and restaurant and café density is also above average. Park access is limited locally, so on-site open space and resident amenities may matter more for retention.
Multifamily demand signals are favorable. The share of housing units that are renter-occupied is high for the metro (near the top decile locally and strong nationally), which supports a deeper tenant base and helps sustain occupancy. Neighborhood occupancy levels trend around the national midpoint rather than the top of the range, so leasing performance may rely more on product quality and management than on tight vacancies alone.
Within a 3-mile radius, population and households have grown in recent years, with projections pointing to additional population growth and a larger household count ahead. Slightly smaller average household sizes are expected, which can widen the renter pool and support absorption of diverse unit mixes. Median household incomes in the 3-mile area have increased, reinforcing the ability to support moderate rent levels and aiding lease retention.
For affordability context, neighborhood home values sit in a mid-range for the region. This is a high-cost ownership market compared with entry-level buying power for some households, which tends to sustain reliance on multifamily housing. Neighborhood rent-to-income metrics indicate manageable rent burdens, supporting retention and reducing turnover risk, though pricing strategy should still account for value-sensitive segments.
Safety indicators in this neighborhood track below national medians, and the area ranks below the metro median when compared with 1,108 Dallas–Plano–Irving neighborhoods. Nationally benchmarked measures suggest property offenses are elevated, though recent data shows a year-over-year decline in estimated property offense rates, indicating some improvement.
Violent offense estimates sit below national percentiles for safety, and recent year-over-year trends show an uptick. For investors, the takeaway is to underwrite with pragmatic assumptions: prioritize lighting, access control, and resident engagement, and compare security operating practices to peer assets in nearby Inner Suburb locations.
Nearby employment anchors span homebuilding, semiconductors, and life sciences — a mix that supports a broad renter base and commute convenience for workforce tenants. The list below highlights the closest nodes shaping day-to-day leasing demand.
- D.R. Horton — homebuilding (3.7 miles)
- Texas Instruments South Campus — semiconductors (10.3 miles)
- Thermo Fisher Scientific — life sciences (10.3 miles)
- Texas Instruments — semiconductors (10.6 miles) — HQ
- Dean Foods — food & dairy (11.9 miles) — HQ
This Inner Suburb location combines a high renter-occupied share with amenity convenience, creating depth for multifamily demand and supporting occupancy stability relative to similarly positioned Dallas neighborhoods. Within a 3-mile radius, recent and projected gains in population and households point to a larger tenant base, while modest rent-to-income metrics suggest room to balance rent levels with retention. According to CRE market data from WDSuite, neighborhood occupancy trends sit near national midpoints, so execution will hinge on asset quality, operations, and competitive positioning rather than ultra-tight market vacancies.
Affordability and employment access are key supports: mid-range ownership costs in the area reinforce ongoing reliance on rentals, and proximity to diversified employers (homebuilding, semiconductors, life sciences) underpins steady leasing from a varied workforce. Investors should account for below-average school ratings, limited park access, and safety metrics that trail national benchmarks, all of which argue for proactive property management and targeted capital plans.
- High renter concentration supports a deeper tenant base and steadier leasing
- Amenity-rich trade area (groceries, pharmacies, dining) aids retention
- 3-mile population and household growth expand the renter pool
- Mid-range ownership costs and manageable rent-to-income support pricing power
- Risks: safety metrics below national averages, limited parks, and school ratings require active management