| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 41st | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 Rock Island Rd, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1984 |
| Units | 92 |
| Transaction Date | 2023-02-09 |
| Transaction Price | $13,034,000 |
| Buyer | 2700 TRINITY SPE LLC |
| Seller | K GARAGE CO LTD |
2700 Rock Island Rd Irving Multifamily Opportunity
Neighborhood occupancy is steady and parks access is strong, suggesting resilient renter demand in this inner-suburban pocket, according to WDSuite’s CRE market data. With major corporate employers within a short drive, the location supports day-to-day leasing fundamentals even as amenities are more diffuse.
The property sits in an Inner Suburb of the Dallas–Plano–Irving metro where neighborhood occupancy trends are healthy and above national norms. The neighborhoods occupancy ranks in the upper tier nationally (69th percentile), pointing to generally durable leasing conditions versus many peer submarkets. Rent levels also index well (upper quartile nationally), and recent years have shown firm rent growth, which can help underpin revenue stability.
Amenity access is mixed: parks density is strong (top quartile nationally) and childcare availability also compares favorably, while cafes, groceries, restaurants, and pharmacies are comparatively sparse in the immediate neighborhood. For investors, this skew implies family-friendly open space and services nearby, but a thinner retail mix that may modestly influence walkability-dependent demand.
Within a 3-mile radius, demographics show a large and gradually expanding base of households, with recent growth and projections indicating more households even as average household size trends lower. That combination typically expands the renter pool and supports occupancy stability. Median incomes have been rising and are projected to increase further, which supports rent levels and potential for measured rent growth without materially elevating retention risk.
Home values in the neighborhood track close to national medians, positioning the area as neither a low-cost nor high-cost ownership market. In practice, this tends to sustain a balanced renter base: ownership remains attainable for some, but not so accessible that multifamily loses depth of demand. The rent-to-income profile indicates manageable affordability pressure, aiding renewal probabilities and day-to-day lease management.
Safety indicators are mixed relative to national and metro benchmarks. The neighborhoods overall crime profile sits below the national median for safety (around the 39th percentile nationally), suggesting more reported incidents than many U.S. neighborhoods. However, property offenses have improved recently with a notable year-over-year decline, which is a constructive directional signal for investors monitoring trendlines.
Violent offense measures are weaker (low national percentile), so prudent underwriting should account for variability by block and time of day, and weigh standard security enhancements and resident engagement practices. At the metro level, the neighborhoods crime rank sits near the midpoint among 1,108 Dallas–Plano–Irving neighborhoods, indicating conditions that are broadly comparable to many inner-suburban areas across the region.
Proximity to major corporate offices anchors the renter base with a diverse set of white- and blue-collar roles, supporting commute convenience and leasing stability. Notable nearby employers include Express Scripts (healthcare services), American Airlines Group (airlines), Kimberly-Clark (consumer goods), Celanese (chemicals), and Exxon Mobil (energy).
- Express Scripts — healthcare services (3.4 miles)
- American Airlines Group — airlines (4.0 miles) — HQ
- Kimberly-Clark — consumer goods (4.2 miles) — HQ
- Celanese — chemicals (4.5 miles) — HQ
- Exxon Mobil — energy (5.5 miles) — HQ
This 92-unit Irving asset benefits from healthy neighborhood occupancy (upper-tier nationally) and a large, diversified employment base within a short drive, supporting steady tenant sourcing and renewal prospects. Parks and childcare access compare favorably to national peers, which can appeal to family renters, while the thinner nearby retail mix means the assets demand is more tied to job proximity than walkable amenities.
Within a 3-mile radius, households have been increasing and are projected to continue rising as average household size trends lower, expanding the pool of prospective renters and supporting occupancy stability. Based on CRE market data from WDSuite, rent levels benchmark well against national norms, and incomes in the area are rising, helping manage affordability pressure and sustain pricing power. Key risks to underwrite include nationally below-average safety percentiles and modest local retail density, partially offset by the concentration of nearby corporate employers.
- Healthy neighborhood occupancy and rent positioning versus national benchmarks
- Household growth and smaller household sizes within 3 miles support a larger tenant base
- Proximity to major corporate employers underpins leasing and retention
- Family-friendly amenities (parks, childcare) bolster livability
- Risks: below-average safety percentiles and sparse walkable retail; active management and security planning recommended