| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 21st | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3200 W Pioneer Dr, Irving, TX, 75061, US |
| Region / Metro | Irving |
| Year of Construction | 1973 |
| Units | 77 |
| Transaction Date | 2017-10-09 |
| Transaction Price | $5,000,000 |
| Buyer | Gary Young |
| Seller | Elmstone Group Sc LLC |
3200 W Pioneer Dr, Irving TX Multifamily Investment
Neighborhood occupancy is strong and has trended higher over the past five years, according to WDSuite s CRE market data, pointing to durable renter demand in this inner-suburb location.
This inner-suburb pocket of Irving offers daily convenience that supports leasing: grocery and pharmacy access ranks in the upper tier of the metro and sits well above national averages, while restaurant density is competitive. By contrast, park space and caf e9 coverage are limited, which can modestly temper lifestyle appeal.
Rents in the neighborhood sit in a mid-market band with solid five-year growth, and neighborhood occupancy ranks 165 out of 1,108 Dallas Plano Irving neighborhoods, placing it in the top quartile locally and the top quartile nationally by percentile. For investors, that combination signals pricing resilience and lower downtime risk when paired with disciplined lease management.
Tenure patterns indicate a meaningful renter base at both the neighborhood and the 3-mile radius scales: the neighborhood shows roughly half of housing units as renter-occupied, and within a 3-mile radius renters account for a larger share, supporting depth of demand for multifamily product. In a high-cost ownership market context regionally, the area s value-to-income dynamics suggest some ongoing reliance on rental housing alongside selective competition from entry-level ownership options.
Demographics aggregated within a 3-mile radius indicate recent population and household growth with forecasts calling for additional household gains and slightly smaller average household sizes. For multifamily, that trend expands the tenant base and supports occupancy stability, particularly for well-managed, functional units that serve working households.
School ratings in the immediate neighborhood trail regional norms, which can influence unit mix performance and turnover patterns; however, proximity to employment and retail amenities remains a counterweight for workforce-oriented demand.
Safety indicators are mixed but improving. The neighborhood s crime profile is slightly better than the national midpoint by percentile, and within the Dallas Plano Irving metro it ranks 280 out of 1,108 neighborhoods, which is competitive among metro peers. Importantly, both violent and property offense rates show notable year-over-year declines, outpacing many areas nationally, which can support renter retention and leasing stability over time.
As with most urban-suburban areas, safety conditions vary by micro-location and time of day. Investors should underwrite with attention to on-site lighting, access control, and community standards, using recent trend data as a directional input rather than a block-level guarantee.
The location draws steady demand from nearby corporate campuses and headquarters, supporting commute convenience and weekday leasing stability. Key employers within a short drive include Express Scripts, American Airlines Group, Kimberly Clark, Celanese, and Exxon Mobil.
- Express Scripts pharmacy benefits (2.9 miles)
- American Airlines Group aviation HQ & corporate (3.5 miles) HQ
- Kimberly Clark consumer products (3.8 miles) HQ
- Celanese specialty materials (4.1 miles) HQ
- Exxon Mobil energy & corporate offices (4.9 miles) HQ
3200 W Pioneer Dr is a 1973 vintage, 77 unit asset positioned in an Irving neighborhood with above-median occupancy performance versus both the metro and nation. Based on CRE market data from WDSuite, the submarket s high occupancy and growing 3-mile household counts indicate a durable tenant base, while a renter-occupied share that is material at both neighborhood and radius scales supports depth of demand. The vintage is slightly newer than the neighborhood s average stock, offering competitive positioning versus older assets, though investors should plan for ongoing system updates and targeted renovations to capture value.
Ownership costs in the broader area are not low enough to undermine rentals broadly, yet accessible enough to warrant attention to pricing and retention. With improving safety trends and proximity to major employers, the asset s thesis centers on stable occupancy with operational upside through focused capex and disciplined rent management.
- Strong neighborhood occupancy and mid-market rents support leasing stability
- 3-mile population and household growth expand the tenant base and aid retention
- 1973 vintage offers value-add and modernization potential versus older local stock
- Proximity to major employers underpins weekday demand and reduces commute friction
- Risks: school ratings below regional norms, limited parks/caf e9 amenities, and potential competition from entry-level ownership options