| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 26th | Poor |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1611 E Northgate Dr, Irving, TX, 75062, US |
| Region / Metro | Irving |
| Year of Construction | 1981 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1611 E Northgate Dr, Irving TX — 36-Unit Inner-Suburb Multifamily
Positioned in Irving’s inner suburb with a deep renter base and metro connectivity, this asset offers steady demand drivers and value‑add potential, according to CRE market data from WDSuite.
The property sits in an Inner Suburb of the Dallas–Plano–Irving metro, where the neighborhood shows a high concentration of renter-occupied housing (64.9% of units). For investors, that depth of renter base supports ongoing leasing activity and a larger tenant funnel relative to more owner‑heavy areas in the region.
Neighborhood occupancy is roughly at the metro middle, indicating stable but competitive leasing conditions. Median contract rents in the neighborhood trend around national mid-range levels while the rent‑to‑income ratio sits near regional norms, suggesting manageable affordability pressure and potential for measured pricing without materially elevating retention risk.
Within a 3‑mile radius, population has grown in recent years and households have expanded at a faster pace, pointing to smaller household sizes and a broader tenant base. Forward-looking projections indicate additional population growth and continued increases in households, which generally supports occupancy stability and absorption for nearby multifamily product.
Local amenity density is mixed: grocery access is serviceable for the metro, while cafes, parks, and pharmacies are thinner in this specific neighborhood. For an investor, that combination typically aligns with workforce‑oriented demand profiles and commute-driven location value rather than lifestyle amenity premiums.
The average neighborhood housing stock skews to the mid‑1970s. Built in 1981, this property is somewhat newer than the neighborhood norm, which can enhance competitive positioning versus older vintage assets; however, investors should still plan for selective modernization and systems updates typical for 1980s construction to sustain rentability and reduce near‑term capex surprises.
Safety indicators for the neighborhood track below national averages and sit on the higher-crime side of the Dallas–Plano–Irving metro, based on relative ranks among 1,108 metro neighborhoods. Recent year-over-year trends show declines in both property and violent offense estimates, which is directionally positive, but investors should underwrite with conservative assumptions and consider standard security and lighting measures typical for inner‑suburban assets.
Proximity to major corporate offices underpins a stable employment base and commute convenience for renters. Nearby employers include headquarters and large corporate offices that support steady renter demand and lease retention.
- Celanese — corporate offices (2.2 miles) — HQ
- Kimberly-Clark — corporate offices (2.3 miles) — HQ
- Xerox — corporate offices (3.4 miles)
- Southwest Airlines — corporate offices (3.4 miles) — HQ
- Exxon Mobil — corporate offices (3.5 miles) — HQ
This 36‑unit 1981 multifamily asset benefits from a renter‑heavy neighborhood, metro‑median occupancy, and proximity to large employment nodes. Within a 3‑mile radius, recent population gains and a faster rise in household counts point to a larger tenant base over time, supporting leasing velocity and steady occupancy. Elevated ownership costs relative to incomes in the area further reinforce reliance on rental housing, which can aid pricing power when paired with prudent lease management.
According to CRE market data from WDSuite, neighborhood rent levels sit around national mid‑range benchmarks and occupancy is competitive for inner‑suburban Dallas. The 1981 vintage suggests room for targeted value‑add (interiors, energy efficiency, and common‑area updates) to widen the gap versus older local stock while managing capex exposure typical of 1980s buildings. Investors should balance demand strengths with underwriting for modest amenity density and a safety profile that trails national norms.
- Renter‑heavy neighborhood supports deeper tenant pool and stable leasing
- 1981 vintage offers practical value‑add upside versus older local stock
- Employment proximity (multiple corporate HQs nearby) supports retention
- Demographic tailwinds within 3 miles indicate larger renter base over time
- Risks: amenity density is limited and safety ranks below national averages—plan for security and conservative underwriting