| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 41st | Fair |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2920 W Shady Grove Rd, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1980 |
| Units | 107 |
| Transaction Date | 2000-10-06 |
| Transaction Price | $9,050,000 |
| Buyer | 2929 PARK GROVE VENTURE LTD |
| Seller | HAYDEN RICHARD L |
2920 W Shady Grove Rd, Irving Multifamily Investment
Neighborhood occupancy is strong and has held near the mid‑90s, according to WDSuite’s CRE market data, indicating stable renter demand for well‑positioned assets in this Irving submarket.
The property sits in a suburban Irving location where neighborhood occupancy ranks competitive among Dallas–Plano–Irving areas (435 out of 1,108) and trends in the top quartile nationally for similar neighborhoods. For investors, that level of stability points to steady leasing and fewer downtime gaps during turns.
Household incomes in the neighborhood track above national norms (around the upper third nationwide), while home values are also elevated versus the U.S. median. In practice, a higher-cost ownership market can sustain reliance on multifamily, supporting pricing power and retention without overextending renters; the neighborhood’s rent‑to‑income profile is favorable by national comparison.
Within a 3‑mile radius, demographics show modest population growth with a larger increase in household count and a gradual shift toward smaller household sizes. For multifamily owners, that combination typically widens the tenant base and supports occupancy stability, particularly for well‑maintained, efficiently sized units.
Local amenity access is mixed. Parks and pharmacies rank competitive among 1,108 metro neighborhoods and sit in the top quartile nationally, while restaurants are around the metro median. Cafés, childcare, and grocery density are thinner in the immediate area, which underscores the importance of on‑site conveniences and property management services to bolster resident satisfaction. Average school ratings trend below national medians, which may slightly temper demand from school‑focused households but is partially offset by the area’s employment access.
Safety indicators in the neighborhood are mixed compared with broader benchmarks. Relative to the 1,108 neighborhoods in the Dallas–Plano–Irving metro, the area sits in the lower half for safety by rank, whereas nationally it aligns slightly above the median overall. Recent trends are constructive: both violent and property offense estimates improved year over year, with the pace of improvement ranking well compared to neighborhoods nationwide.
For investors, the takeaway is directional improvement rather than a categorical label. Continued enhancements to lighting, access control, and resident engagement can reinforce these trends and support lease retention.
Proximity to major corporate offices supports a broad commuter tenant base and can aid leasing durability. The employers below form a diversified white‑collar and services backbone within convenient driving distance.
- Express Scripts — pharmacy benefit management (3.4 miles)
- American Airlines Group — aviation HQ (4.1 miles) — HQ
- Kimberly-Clark — consumer products (5.1 miles) — HQ
- Celanese — chemicals (5.4 miles) — HQ
- Exxon Mobil — energy (6.5 miles) — HQ
Built in 1980, the asset is slightly newer than the neighborhood’s average vintage. That positioning can be competitive versus older stock while still leaving room for targeted capital plans—mechanicals, interiors, and curb appeal—to capture value‑add upside. Solid neighborhood occupancy, a favorable rent‑to‑income profile, and sustained commuter demand from nearby corporate employers together point to resilient cash flow potential, based on CRE market data from WDSuite.
Within a 3‑mile radius, recent population growth, a projected increase in households, and a gradual shift to smaller household sizes suggest a larger renter pool over time. Elevated for‑sale housing costs relative to national medians further support renter reliance on multifamily, which can aid retention and pricing discipline. Key risks include thinner nearby retail amenities and below‑median school ratings, which place more emphasis on on‑site services and asset quality.
- Occupancy strength and favorable rent‑to‑income support stable cash flows
- 1980 vintage offers value‑add potential through targeted renovations
- Diversified nearby employers underpin commuter renter demand
- 3‑mile household growth and smaller household sizes expand the renter base
- Risk: thinner amenity density and lower school ratings require strong property operations