| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 21st | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 313 Freetown Rd, Grand Prairie, TX, 75051, US |
| Region / Metro | Grand Prairie |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | 2001-11-01 |
| Transaction Price | $2,500,000 |
| Buyer | AMERISOUTH XXII LTD |
| Seller | 313 FREETOWN LTD |
313 Freetown Rd Grand Prairie Multifamily Investment
Neighborhood occupancy around 92% and strong daily-needs amenities suggest steady renter demand, according to WDSuite’s CRE market data. With local rents trending upward, operators can focus on retention and operational efficiency rather than outsized lease-up risk.
Situated in an inner-suburb pocket of the Dallas–Plano–Irving metro, the area surrounding 313 Freetown Rd offers convenient access to daily needs and services. Grocery and restaurant density ranks competitive among Dallas neighborhoods (both well within the top 200 of 1,108), reinforcing leasing appeal for workforce tenants and supporting day-to-day livability.
Neighborhood occupancy is approximately 92% (above the national midpoint), indicating stable baseline demand even as the five-year trend has softened. Median contract rents in the neighborhood sit in the upper mid-tier nationally and have risen meaningfully over five years, aligning with investor focus on revenue management. School quality trends below national averages, so family-oriented leasing may hinge more on property-level amenities and management than on district pull.
The property s 1975 vintage is older than the neighborhood s average construction year (1982; rank roughly mid-pack among 1,108 metro neighborhoods). For investors, this points to potential value-add through interior updates and systems modernization to improve competitive positioning against newer stock.
Within a 3-mile radius, demographics show a renter-occupied share of housing units near parity with owners (46.5% renters today) and a projected shift toward a renter majority by the forecast period (about 51.9%), supporting depth of the tenant base. Forecasts also indicate a substantial increase in household count alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability for well-managed assets. Median home values in the neighborhood are comparatively modest for the metro, which can create some competition from entry-level ownership, but the local rent-to-income ratio near 0.24 suggests room for disciplined pricing without outsized affordability pressure.
Safety indicators are mixed relative to the Dallas–Plano–Irving metro. The neighborhood s crime rank sits near the metro midpoint (rank 582 out of 1,108), signaling neither a clear strength nor a severe outlier versus peer areas. Nationally, violent offense levels benchmark below average (lower national percentile), while property offenses are closer to the national middle.
Recent direction is noteworthy: property offense rates have declined on a year-over-year basis, indicating some improvement in trend, while violent offense trends have ticked up. For investors, this argues for continued emphasis on lighting, access control, and community engagement as part of asset management rather than a deterrent to evaluating the location on fundamentals.
Proximity to major employers supports a broad workforce renter base and commute convenience, including Express Scripts, American Airlines Group, Kimberly-Clark, Celanese, and Xerox. These nearby corporate offices help stabilize leasing across cycles.
- Express Scripts — pharmacy benefit management (7.8 miles)
- American Airlines Group — airline HQ and corporate (8.2 miles) — HQ
- Kimberly-Clark — consumer goods/paper (11.4 miles) — HQ
- Celanese — chemicals (11.6 miles) — HQ
- Xerox — document technology/services (12.1 miles)
This 100-unit community s investment case centers on durable renter demand, value-add potential, and proximity to diversified employment. The neighborhood posts approximately 92% occupancy with broad-based amenity access, while rents have risen over the last five years. Built in 1975, the asset is older than the local average vintage, creating a clear path for targeted renovations and systems upgrades to sharpen competitiveness and support rent growth without relying on speculative demand.
Within a 3-mile radius, forecasts point to a larger renter pool driven by rising household counts and a shift toward a renter majority, which supports occupancy stability and lease renewal prospects. Median home values are comparatively accessible for the region and the rent-to-income ratio around 0.24 points to manageable affordability pressure today; operators should still balance pricing with retention as schools rate below national averages and safety trends are mixed. According to CRE market data from WDSuite, these fundamentals align with steady performance for well-managed workforce housing in inner-suburban Dallas.
- Stable neighborhood occupancy around 92% supports baseline demand and leasing consistency
- 1975 vintage offers value-add and systems modernization upside versus newer competitive stock
- 3-mile forecasts indicate rising household counts and a higher renter share, expanding the tenant base
- Amenity-rich location near major employers underpins workforce housing demand
- Risks: below-average school ratings and mixed safety trends require retention-focused operations and security measures