| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 28th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1115 N O Connor Rd, Irving, TX, 75061, US |
| Region / Metro | Irving |
| Year of Construction | 1980 |
| Units | 76 |
| Transaction Date | 2015-08-03 |
| Transaction Price | $4,000,000 |
| Buyer | TFG PARKSIDE LLC |
| Seller | BETHEL HOLDING LLC |
1115 N O Connor Rd Irving Apartments Investment Outlook
Neighborhood fundamentals indicate steady renter demand with occupancy trending in the low-90s and a comparatively high share of renter-occupied housing, according to WDSuite’s CRE market data. Pricing sits mid-market for the metro, supporting leasing resilience without relying on top-tier rent growth.
Located in Irving’s inner suburbs of the Dallas–Plano–Irving metro, the area around 1115 N O Connor Rd rates B- and is competitive among Dallas–Plano–Irving neighborhoods (ranked 589 of 1,108). Amenity access skews practical: restaurants are in the top quartile nationally, while parks and pharmacies also score in the top quartile. By contrast, cafes and grocery options within the immediate neighborhood are limited, so residents may rely on short drives for daily needs.
Schools in the neighborhood track below national norms (average rating near the lower end), which may influence the resident mix toward non-family renters. Still, childcare density is top quartile nationally, offering support for working households. Median home values are mid-range for the region, and with a rent-to-income ratio around the mid-teens, lease management can focus on retention rather than stretching affordability.
The property’s 1980 vintage is slightly newer than the neighborhood’s average 1970s housing stock. For investors, this suggests typical 1980s capital planning (exteriors, systems, common areas) with potential value-add upside through targeted renovations that improve competitive positioning against older comparables.
Demographics aggregated within a 3-mile radius show modest population growth over the last five years, a projected continuation of expansion, and a rising household count. The renter concentration in this radius is near parity with owners, which supports a broad tenant base and demand depth for multifamily. Income trends have strengthened, and median contract rents have climbed, reinforcing near-term leasing stability while leaving room for selective upgrades.
Safety indicators for the neighborhood sit below the national median, with both violent and property offense rates comparing weaker than many U.S. neighborhoods. However, recent year-over-year trends point to improvement, as estimated violent and property offense rates have declined. Within the Dallas–Plano–Irving metro (1,108 neighborhoods), the area tracks on the less favorable side of the spectrum, so underwriting should incorporate prudent security and resident-experience measures alongside leasing strategies.
Proximity to major corporate headquarters and offices supports a steady commuter renter base, with strong representation from consumer goods, chemicals, energy, utilities, and pharmacy benefit management employers nearby.
- Kimberly-Clark — consumer goods HQ (2.97 miles) — HQ
- Celanese — chemicals HQ (3.11 miles) — HQ
- Exxon Mobil — energy HQ (4.37 miles) — HQ
- Vistra Energy — utilities HQ (4.98 miles) — HQ
- Express Scripts — pharmacy benefit management (5.15 miles)
1115 N O Connor Rd combines a workforce-friendly location with balanced renter demand signals. Neighborhood occupancy has held in the low-90s and the share of renter-occupied units is elevated, supporting depth of the tenant base. According to CRE market data from WDSuite, amenity access is mixed—restaurants, parks, and pharmacies rank strong nationally while groceries and cafes are thinner—favoring residents who drive. Median home values land mid-market for Dallas–Fort Worth, which helps sustain rental reliance without materially eroding the leasing pool.
The 1980 vintage suggests straightforward capex planning and value-add potential through interiors and common-area updates. Within a 3-mile radius, recent and projected population and household growth, along with rising incomes, point to a larger renter pool over time. Average unit sizes skew small, which can appeal to efficiency-minded renters and workforce commuters tied to nearby corporate employment nodes. Key risks include below-median school performance and safety metrics that warrant conservative underwriting and operational focus on security and resident experience.
- Stable neighborhood occupancy and elevated renter-occupied share support demand depth and lease retention
- 1980 vintage with clear value-add pathway via targeted renovations and system upgrades
- Mixed but practical amenity profile; strong access to restaurants, parks, and pharmacies offsets lighter grocery/cafe options
- 3-mile radius shows population and household growth with rising incomes, expanding the renter pool over time
- Risks: below-median school ratings and safety metrics require prudent underwriting and active property management