| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 48th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1905 Cedar St, Glenn Heights, TX, 75154, US |
| Region / Metro | Glenn Heights |
| Year of Construction | 1993 |
| Units | 64 |
| Transaction Date | 2015-03-15 |
| Transaction Price | $1,700,000 |
| Buyer | --- |
| Seller | Paul Knapp & Kevin Speck |
1905 Cedar St Glenn Heights Multifamily Opportunity
Neighborhood occupancy is strong at 96.4% and renter affordability appears favorable with a 0.09 rent-to-income ratio, according to WDSuite’s CRE market data. This combination suggests stable leasing conditions around the property rather than at the asset level.
This suburban pocket of the Dallas–Plano–Irving metro shows resilient renter demand signals. Neighborhood occupancy (96.4%) ranks 397 out of 1,108, which is competitive among Dallas–Plano–Irving neighborhoods and supportive of steady cash flow profiles for comparable assets. Median contract rents in the neighborhood have risen over the last five years, while the rent-to-income ratio of 0.09 indicates room to manage pricing without immediately stressing retention.
Within a 3-mile radius, population and household counts have expanded materially over the past five years and are projected to continue growing, pointing to a larger tenant base and ongoing demand for rental units. Forecasts also indicate smaller average household sizes, which typically support absorption for a range of unit mixes. Although the renter-occupied share within 3 miles is relatively low today, projections show an increasing renter concentration, which can deepen the leasing pool over time.
Amenity access is mixed: grocery and pharmacy availability is moderate compared with metro peers, while parks, restaurants, and childcare options are limited locally. Such conditions can be offset by proximity to major employment centers across the southern Dallas area, but investors should underwrite modest convenience expectations. The neighborhood’s median home values have appreciated in recent years; in practice, a high-cost ownership market can sustain reliance on multifamily housing, supporting retention and lease stability.
The property’s 1993 vintage is newer than the neighborhood’s average construction year (1984). Relative to older stock, this positioning can enhance competitiveness, though investors should still plan for targeted system upgrades and modernization to protect operating performance over the hold.
Safety indicators are mixed and should be evaluated with appropriate operating measures. The neighborhood’s crime rank is 634 out of 1,108 metro neighborhoods, placing it below the metro median for safety, and its national safety positioning is below the median as well. Violent offense rates benchmark below national median safety percentiles, while property offense metrics sit closer to mid-pack nationally.
Year-over-year trends show recent increases in both violent and property offense estimates. For underwriting, investors commonly account for this with lighting, access controls, and partnerships with local law enforcement. Comparisons should be made against peer submarkets across the Dallas–Plano–Irving region rather than block-level expectations.
Large, established employers within commuting range underpin workforce housing demand and leasing stability, including AT&T, Tenet Healthcare, Jacobs Engineering Group, Builders FirstSource, and HollyFrontier.
- AT&T — telecommunications HQ (15.9 miles) — HQ
- Tenet Healthcare — healthcare services HQ (16.2 miles) — HQ
- Jacobs Engineering Group — engineering & professional services HQ (16.2 miles) — HQ
- Builders Firstsource — building materials HQ (16.3 miles) — HQ
- Hollyfrontier — energy & refining HQ (16.8 miles) — HQ
This 64-unit, 1993-vintage asset benefits from a neighborhood with above-median metro occupancy and a low rent-to-income ratio, supporting pricing flexibility and occupancy stability. Within a 3-mile radius, strong population and household growth — alongside forecasts for continued expansion and smaller household sizes — points to a widening renter base and steady absorption potential. According to CRE market data from WDSuite, median contract rents and household incomes have advanced over the past five years, reinforcing fundamentals for renewal capture rather than rapid lease-up risk.
The 1993 vintage positions the property competitively versus older area stock, while still warranting targeted capex for systems and curb-appeal updates. Local amenities are modest, and safety metrics trend mixed relative to metro and national benchmarks, so underwriting should incorporate practical operating measures and marketing that emphasizes commute access to major Dallas employment nodes.
- Occupancy tailwinds: neighborhood ranks above the metro median with 96.4% occupancy supporting stable cash flow potential
- Demand growth: 3-mile population and households expanding, with forecasts indicating a larger renter pool and smaller household sizes
- Pricing headroom: low neighborhood rent-to-income ratio supports rent management and renewal capture
- Competitive positioning: 1993 vintage offers an edge over older stock with targeted modernization
- Risks: modest local amenities and mixed safety trends require active management and appropriate operating controls