| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 28th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1113 N O Connor Rd, Irving, TX, 75061, US |
| Region / Metro | Irving |
| Year of Construction | 1979 |
| Units | 94 |
| Transaction Date | 2017-02-06 |
| Transaction Price | $8,075,000 |
| Buyer | GVP Agave Villas LLC |
| Seller | TFG Parkside, LLC |
1113 N O Connor Rd Irving Multifamily Investment
Stabilized renter demand in Irving’s inner suburb and a practical value-add angle position this 94-unit, 1979-vintage asset for durable performance, according to WDSuite’s CRE market data. Neighborhood occupancy trends and proximity to major employers support steady leasing with room for targeted renovations.
This Inner Suburb neighborhood in the Dallas–Plano–Irving metro is rated B- and ranks 589 out of 1,108 metro neighborhoods, placing it above the metro median for overall fundamentals. Neighborhood occupancy is reported at 91.9%, indicating generally stable leasing conditions, with the share of housing units that are renter-occupied near the mid-to-high 40s — a meaningful base of multifamily demand rather than a niche segment.
Amenities skew practical: parks and pharmacies score in the upper national percentiles, while restaurants are comparatively plentiful. Immediate café and grocery density is limited, so residents may rely on nearby corridors for those needs. Average school ratings sit in a lower national band, which can influence tenant mix and marketing strategy, but does not preclude steady workforce housing demand.
Household incomes benchmark around the upper half nationally, and rent-to-income sits at a moderate level for the neighborhood — dynamics that can aid lease retention. Median home values are also in the upper half nationally; in investor terms, ownership is not low-cost, but it is not prohibitively high either, suggesting steady rental reliance with some competitive tension from ownership options for price-sensitive households. The neighborhood’s construction profile averages early-1970s; this property’s 1979 vintage is somewhat newer than the local average but still older stock, pointing to selective capex or value-add as levers for competitiveness.
Within a 3-mile radius, WDSuite data shows recent population growth alongside a larger increase in households and a projected continued rise in households through 2028. Smaller average household size is expected, which generally broadens the renter pool and supports occupancy stability for well-positioned assets.
Relative to the 1,108 neighborhoods in the Dallas–Plano–Irving metro, this area’s crime rank sits above the metro median, while nationally it tracks below average for safety. For investors, that mix typically calls for attentive property management, lighting, and access control to support retention and consistent operations.
Year over year, both violent and property offenses show double-digit declines, based on CRE market data from WDSuite. Conditions can vary within small areas, but the directional improvement supports a cautious, constructive outlook when underwriting revenue durability.
The location taps a deep corporate employment base that supports renter demand and commute convenience, notably to Kimberly-Clark, Celanese, Exxon Mobil, Vistra Energy, and Xerox.
- Kimberly-Clark — consumer goods (2.97 miles) — HQ
- Celanese — specialty chemicals (3.11 miles) — HQ
- Exxon Mobil — energy (4.37 miles) — HQ
- Vistra Energy — utilities (4.99 miles) — HQ
- Xerox — business services (5.12 miles)
This 1979, 94-unit asset supports a straightforward workforce housing thesis: neighborhood occupancy trends in the low-90s, a renter-occupied share near half, and proximity to multiple corporate headquarters create durable tenant depth. The vintage suggests practical value-add and systems modernization can lift competitiveness against an older local stock while maintaining attainable positioning.
Within a 3-mile radius, population and households have grown and are projected to continue rising, with smaller household sizes pointing to a broader renter pool. Rent-to-income in the neighborhood is moderate and home values are not extreme for the region, supporting steady rental reliance without overdependence on aggressive pricing. According to CRE market data from WDSuite, these dynamics align with an above-metro-median neighborhood standing and improving safety trends, supporting an underwriting case centered on stable occupancy and targeted renovation upside.
- Established renter base and above-metro-median neighborhood rank support stable leasing
- 1979 vintage offers value-add and modernization levers to enhance competitiveness
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: below-average national safety profile warrants proactive management and security investment