| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 75th | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 230 W Rochelle Rd, Irving, TX, 75062, US |
| Region / Metro | Irving |
| Year of Construction | 1978 |
| Units | 112 |
| Transaction Date | 2004-10-15 |
| Transaction Price | $4,300,000 |
| Buyer | ROCHELLE PLACE LP |
| Seller | GABAY LAHAV |
230 W Rochelle Rd, Irving TX — Multifamily Value-Add Position
Neighborhood occupancy sits around the low-90s and renter demand is supported by strong incomes and elevated ownership costs in Irving, according to WDSuites CRE market data; all cited performance metrics refer to the surrounding neighborhood, not the property.
Rated A- and ranked 182 out of 1,108 DallasPlanoIrving neighborhoods, the area is top quartile metro-wide and competitive nationally. Amenities index and food access trend above national norms (caf s and restaurants score in higher national percentiles), which helps leasing velocity for workforce and professional renters.
Home values trend in the 81st percentile nationally, signaling a high-cost ownership market that can reinforce reliance on multifamily housing and support pricing power. At the same time, the neighborhoods rent-to-income ratio is favorable (high national percentile for income relative to rent), which can aid retention and limit near-term affordability pressure from a leasing perspective.
Occupancy for the neighborhood is roughly 91% (about the national midpoint), suggesting steady but competitively supplied conditions rather than scarcity. Compared with the metro, that places the subarea near the middle of the pack, so underwriting should assume disciplined leasing and amenity differentiation rather than outsized concessions.
Within a 3-mile radius, households and families have expanded over the past five years, and WDSuites multifamily property research indicates further population and household growth ahead. A renter-occupied share near 61% within this radius points to a deep tenant base and ongoing demand for professionally managed apartments.
Vintage context: the property was built in 1978 versus a neighborhood average year of construction of 1992. Older stock typically requires capital planning for systems and exterior/interior refreshes, but it can also offer value-add upside through targeted renovations and operational improvements relative to newer competitive sets.
Safety indicators for the neighborhood are below national medians today, though recent year-over-year trends show improvement. The neighborhoods crime rank sits in the lower half of the DallasPlanoIrving metro (rank 644 out of 1,108), while national percentiles indicate weaker relative safety. However, both violent and property offense rates have declined over the past year, which is a constructive directional signal.
For investors, this translates into a need for prudent onsite security, lighting, and resident-engagement practices in underwriting, while recognizing that improving trends can support retention and marketing narratives if momentum continues.
Proximity to major corporate headquarters and offices supports commuter demand and retention, with strong representation from consumer goods, chemicals, energy, utilities, engineering, technology, airlines, and retail employers.
- Kimberly-Clark consumer goods (1.8 miles) — HQ
- Celanese — chemicals (2.0 miles) — HQ
- Exxon Mobil — energy (3.2 miles) — HQ
- Vistra Energy — utilities (3.9 miles) — HQ
- Fluor — engineering & construction (4.1 miles) — HQ
- IBM Dallas Metroplex — technology offices (4.8 miles)
- Xerox — technology services (4.9 miles)
- Southwest Airlines — airlines (4.9 miles) — HQ
- Michaels Cos. — retail (5.5 miles) — HQ
- Express Scripts — pharmacy benefits (5.6 miles)
The investment thesis centers on steady neighborhood fundamentals, high-income renter demographics, and proximity to a critical mass of headquarters-scale employers. Based on CRE market data from WDSuite, the area ranks in the top quartile among DallasPlanoIrving neighborhoods, with amenities and household incomes that support durable renter demand and measured pricing power. Elevated home values versus national benchmarks reinforce reliance on multifamily housing, while neighborhood occupancy around the low-90s suggests stable operations without excessive concessions.
Built in 1978, the asset predates much of the local stock, creating a practical path for value-add through interior upgrades, building systems, curb appeal, and amenity repositioning relative to newer peers from the early 1990s onward. Within a 3-mile radius, growth in households and a renter concentration above 60% expand the tenant base and support occupancy stability over time, with additional upside from employer-driven commuter demand.
- Top-quartile neighborhood performance in the DallasPlanoIrving metro supports demand durability.
- High home values and strong incomes bolster renter reliance on apartments and pricing resilience.
- 1978 vintage provides clear value-add levers through renovations and operational improvements.
- Deep 3-mile renter base and nearby headquarters-scale employers support leasing and retention.
- Risks: safety metrics lag national medians and occupancy is mid-pack metro-wide, warranting prudent security and disciplined leasing.