| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 13th | Poor |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1900 Rock Island Rd, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1981 |
| Units | 113 |
| Transaction Date | 2017-05-30 |
| Transaction Price | $3,750,000 |
| Buyer | 2BEEG LLC |
| Seller | IO APTS LLC |
1900 Rock Island Rd, Irving TX Multifamily Opportunity
Neighborhood occupancy sits in the high-80s with a sizable renter base, according to WDSuite’s CRE market data, pointing to steady leasing fundamentals for this Irving asset during typical cycles in this submarket’s commercial real estate analysis.
Located in an inner-suburb pocket of Irving within the Dallas–Plano–Irving metro, the neighborhood shows stable renter demand and practical daily convenience. Grocery access is a relative strength — the area ranks among the top quartile nationally for grocery store density and is competitive among 1,108 metro neighborhoods — which supports day-to-day livability and can aid retention. Other lifestyle amenities (cafes, parks, pharmacies, restaurants) are thinner than the metro median, so the value proposition skews toward workforce housing and proximity rather than entertainment-driven appeal.
Vintage positioning is favorable for operations: the property was built in 1981, while the neighborhood’s average construction year trends older (1971). That age delta suggests the asset may compete well against older local stock after targeted modernization, while investors should still plan for systems upgrades typical of early-1980s buildings.
Neighborhood housing dynamics indicate a meaningful tenant pool: WDSuite data shows the share of housing units that are renter-occupied is above national norms (82nd percentile), which supports depth of demand and day-to-day leasing activity. Neighborhood occupancy is in the high-80s and has eased modestly over five years, implying normal frictional vacancy that warrants attentive management but does not signal structural softness.
Within a 3-mile radius, population has been broadly stable in recent years while households have increased and average household size has edged lower. Looking ahead, projections call for a continued rise in households alongside smaller average household size, which typically expands the renter pool and supports occupancy stability. Income trends in the 3-mile radius are projected to move higher, aligning with the area’s workforce orientation and supporting rent levels that are above the national mid-point for comparable units.
Ownership costs in the neighborhood are relatively elevated versus incomes (value-to-income ratio sits in a high national percentile), characterizing a higher-cost ownership market. For multifamily investors, that context tends to reinforce renter reliance on apartments and can bolster lease retention and pricing power when paired with competitive product and management execution.
Safety conditions are mixed relative to broader benchmarks. Compared with neighborhoods nationwide, the area sits below the national mid-point for safety; within the Dallas–Plano–Irving metro, it trends below the metro median among 1,108 neighborhoods. For investors, this warrants prudent onsite security, lighting, and community engagement to support resident satisfaction.
Trend signals are nuanced: recent WDSuite indicators show property offenses have declined year over year, while violent offenses increased over the same period. Framing and mitigation through design, operations, and resident screening remain important underwriting considerations rather than deal-breakers.
The nearby employment base includes healthcare services, consumer products, specialty chemicals, and major airline and energy headquarters, supporting a large workforce renter pool and commute-friendly leasing. The employers below represent notable demand drivers within a short radius.
- Express Scripts — healthcare services (4.1 miles)
- Kimberly-Clark — consumer products (4.1 miles) — HQ
- Celanese — specialty chemicals (4.3 miles) — HQ
- American Airlines Group — airline corporate (4.7 miles) — HQ
- Exxon Mobil — energy corporate (5.5 miles) — HQ
This 1981 multifamily asset benefits from a neighborhood renter concentration above national norms, high grocery accessibility that underpins daily convenience, and proximity to multiple Fortune 500 headquarters that broaden the tenant base. Neighborhood occupancy is in the high-80s, and rents benchmark above the national mid-point for similar product — a profile consistent with workforce demand dynamics. According to CRE market data from WDSuite, the local housing stock skews older than this property, suggesting competitive positioning after targeted capital plans.
Within a 3-mile radius, modest population change alongside a projected increase in households and smaller average household size points to a larger pool of renters over time. A relatively high-cost ownership landscape supports renter reliance on apartments, while income trends are expected to improve — a combination that can sustain leasing and measured rent growth with disciplined asset management.
- Workforce location with strong nearby employers, supporting tenant depth and retention
- 1981 vintage offers value-add and systems modernization potential versus older neighborhood stock
- Neighborhood occupancy in the high-80s and renter-occupied share above national norms support leasing stability
- Ownership costs relatively high versus incomes, reinforcing multifamily demand and pricing power
- Risks: thinner lifestyle amenities, safety below metro median, and modest occupancy softening require active management