| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 25th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1313 E Shady Grove Rd, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1972 |
| Units | 69 |
| Transaction Date | 2021-03-10 |
| Transaction Price | $12,635,000 |
| Buyer | OAKWAY MANOR LLC |
| Seller | WOODS APT LLC |
1313 E Shady Grove Rd Irving Multifamily Investment
Renter concentration just over half of local housing units points to a stable tenant base, according to WDSuite's commercial real estate analysis, with neighborhood occupancy supporting consistent cash flow potential.
Located in Irving's inner suburbs of the Dallas–Plano–Irving metro, the neighborhood offers day-to-day convenience anchored by grocery access that ranks above many local peers and sits in a strong national percentile. Restaurant options are moderately represented, while cafes and pharmacies are less concentrated nearby. Abundant park access performs in the top decile nationally, a lifestyle feature that can aid retention.
Neighborhood renter-occupied share is about 52%, indicating a deep tenant base for multifamily demand. The neighborhood's occupancy is around 89.8%, and median contract rents track in the mid-range compared with national peers, helping sustain leasing velocity without overextending affordability.
Within a 3-mile radius, households have increased modestly despite flat population trends, implying smaller average household sizes and a gradual expansion of the renter pool. Forward-looking projections indicate additional growth in household counts and higher incomes, which should support rent absorption and occupancy stability over the medium term.
Home values are lower than many national markets, which can create some competition from ownership; however, rent-to-income levels in the area remain manageable, supporting lease retention. School ratings trail national norms, a consideration for family-oriented renters, while amenity access compares above the metro median among 1,108 Dallas–Plano–Irving neighborhoods.
Safety indicators compare slightly better than the metro median among 1,108 Dallas–Plano–Irving neighborhoods, though the neighborhood sits below the national median for safety. Recent year-over-year trends show declines in both property and violent offense rates, which is constructive for long-term stability.
Investors should interpret these signals as mixed but improving: relative metro positioning is competitive, national standing is weaker, and the short-term trend is heading in the right direction. As always, block-level conditions can vary, so underwriting should account for property-level security measures and management practices.
A diverse employment base within a 5–7 mile radius supports workforce housing demand and commute convenience, led by corporate offices in consumer goods, chemicals, airlines, energy, and technology.
- Xerox — technology/printing (4.6 miles)
- Kimberly-Clark — consumer goods (4.8 miles) — HQ
- Celanese — chemicals (4.9 miles) — HQ
- Southwest Airlines — airline (5.0 miles) — HQ
- Exxon Mobil — energy (6.2 miles) — HQ
This 69-unit asset in Irving sits in a renter-heavy neighborhood with occupancy near 90%, supported by grocery access and strong park density that aid daily convenience and stickiness. Median rents are in a competitive range relative to national peers, and rent-to-income levels suggest manageable affordability that can underpin retention. According to CRE market data from WDSuite, local amenity access is above the metro median while national positioning is more middle-of-the-pack, pointing to stable yet measured rental demand.
Within a 3-mile radius, modest recent growth in household counts alongside flat population indicates smaller household sizes and an expanding renter pool; forward projections show continued household gains with rising incomes, reinforcing occupancy stability and absorption potential. Key watchpoints include school ratings below national norms and a lighter concentration of cafes and pharmacies, which may influence certain renter cohorts, as well as potential competition from relatively accessible ownership options.
- Renter-heavy area and near-90% neighborhood occupancy support durable demand
- Competitive median rents and manageable rent-to-income ratios aid retention
- Strong park access and solid grocery proximity bolster livability advantages
- 3-mile outlook points to additional households and higher incomes, supporting absorption
- Risks: lower school ratings, lighter cafe/pharmacy presence, and some competition from ownership