| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 30th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 724 W Miller Rd, Garland, TX, 75041, US |
| Region / Metro | Garland |
| Year of Construction | 1984 |
| Units | 32 |
| Transaction Date | 2007-03-29 |
| Transaction Price | $906,300 |
| Buyer | STRONGHOLD HAYLIE SPE LLC |
| Seller | 724 MILLER PARTNERS LLC |
724 W Miller Rd Garland Multifamily Investment
Positioned in an inner-suburb pocket of Garland with steady renter demand, the submarket has maintained stable occupancy with incremental improvement over the last five years, according to WDSuite’s CRE market data. The property s location offers practical access to Dallas employment corridors while catering to value-focused renters.
This inner-suburb neighborhood of Garland trends near the metro middle on several CRE indicators, with occupancy in the surrounding area holding firm and inching higher over the past cycle. Neighborhood renter concentration is moderate at the local level, while the broader 3-mile radius shows a deeper base of renter-occupied housing, supporting ongoing tenant demand and helping sustain lease-up and retention.
Livability leans pragmatic: restaurant access is adequate, daily-needs retail is limited within the immediate blocks, and park access is a relative strength, ranking competitively among Dallas-Plano-Irving neighborhoods. Average school ratings are modest and should be considered in underwriting for family-oriented demand.
Home values in the area are comparatively accessible for owners by national standards, which can introduce competition for renters considering entry-level ownership. For multifamily investors, that dynamic typically favors price-sensitive renters and emphasizes the role of unit-level value, service quality, and lease management to preserve occupancy and pricing power.
The property s 1984 vintage is newer than the neighborhood s older housing stock, which can provide a competitive edge versus 1970s-era assets. That said, investors should budget for targeted modernization of building systems and common areas to improve positioning. Within a 3-mile radius, recent population trends have been mixed, but households are projected to expand through the next five years, indicating a larger tenant base ahead based on multifamily property research and validated by WDSuite s market data.
Safety indicators for the neighborhood sit roughly mid-pack within the Dallas-Plano-Irving metro and below the national median. Property and violent offense measures trend less favorable than nationwide averages, though recent changes suggest only modest movement year over year. Investors typically account for this by emphasizing lighting, access control, and resident engagement to support retention and operating stability.
- D.R. Horton, America's Builder — corporate offices (4.8 miles)
- Thermo Fisher Scientific — life sciences (6.0 miles)
- General Dynamics — defense & aerospace offices (6.6 miles)
- Texas Instruments South Campus — semiconductors (6.6 miles)
- Texas Instruments — semiconductors (6.9 miles) — HQ
Nearby corporate employment anchors help support renter demand through commute convenience, with concentrations in homebuilding, life sciences, defense, and semiconductors: D.R. Horton, Thermo Fisher Scientific, General Dynamics, Texas Instruments South Campus, and Texas Instruments.
724 W Miller Rd offers investors exposure to a value-oriented renter base in Garland with stable neighborhood occupancy and a balanced renter concentration. The 1984 construction is relatively newer than much of the local housing stock, which can reduce immediate obsolescence risk versus older 1970s assets while still leaving room for targeted value-add updates that enhance competitiveness.
Within a 3-mile radius, households are expected to grow over the next five years, pointing to a larger tenant base that supports leasing velocity and occupancy stability. Ownership is comparatively accessible in this area, so underwriting should emphasize unit-level value and service to mitigate competition from entry-level for-sale options. According to WDSuite s commercial real estate analysis, incomes and rent-to-income dynamics support sensible pricing and retention strategies rather than aggressive rent push assumptions.
- Stable neighborhood occupancy with improving trend supports leasing durability.
- 1984 vintage offers relative edge over older local stock, with room for targeted renovations.
- Expanding household counts within 3 miles indicate a growing tenant base and potential demand depth.
- Accessible ownership market presents competition risk; focus on value and service to sustain retention.
- Limited immediate retail amenities and mid-pack safety suggest prudent OPEX for security and resident experience.