| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 41st | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 325 S Story Rd, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | 2011-03-25 |
| Transaction Price | $500,000 |
| Buyer | IRVING PARK SPRINGS PARTNERS LTD |
| Seller | WELLS FARGO BANK N A |
325 S Story Rd Irving Multifamily Value-Add Opportunity
Neighborhood occupancy trends indicate stable renter demand, and proximity to major employers supports leasing resilience, according to WDSuite’s CRE market data.
This Inner Suburb location in Irving sits within the Dallas–Plano–Irving metro and reflects steady renter demand at the neighborhood level, with occupancy trending above the national median and improving over the past five years (based on CRE market data from WDSuite). Parks access rates in this neighborhood score in the top quartile nationally, which enhances livability and can support retention, while day-to-day retail like grocery and pharmacy is less dense locally, suggesting residents often draw from nearby corridors for essentials.
Construction in the surrounding area skews slightly newer than this property (area average 1980s vintage), while the asset itself dates to 1973. For investors, the older vintage points to potential capital planning and value-add strategies—modernizing interiors, systems, and curb appeal to stay competitive versus newer stock.
Within a 3-mile radius, household and family counts have expanded in recent years, creating a larger tenant base. Looking forward, forecasts show household growth outpacing population change as average household size trends smaller; this dynamic typically sustains multifamily absorption by bringing more households into the market, even when population growth is modest.
Tenure patterns within 3 miles show a substantial share of housing units are renter-occupied, indicating depth in the local renter pool. Homeownership costs in this part of Irving are moderate in the regional context, which helps maintain a balanced renter pipeline and supports lease stability rather than sudden shifts toward ownership.
Amenity access is mixed: strong parks and childcare density are competitive among Dallas–Plano–Irving neighborhoods (top-tier childcare presence relative to the metro), while cafes and restaurants are sparser inside the immediate neighborhood grid. Investors should underwrite convenience to major roads and employment hubs as key demand drivers rather than walkable retail concentration.
Neighborhood safety indicators are mixed compared with Dallas–Plano–Irving peers. Overall crime sits around the metro median (ranked 519 among 1,108 metro neighborhoods), and the area lands below the national median for safety. Recent data does show a meaningful year-over-year decline in property offenses, placing the improvement above many neighborhoods nationwide, which is a constructive sign for stability.
Violent offense measures benchmark in the lower national percentiles, reinforcing the need for standard multifamily security practices and active property management. For underwriting, frame safety as competitive with several inner-suburb submarkets in the region but not top quartile; trend monitoring remains prudent.
The property benefits from proximity to a dense cluster of corporate offices and headquarters that anchor regional employment and support renter demand, including Express Scripts, Kimberly-Clark, American Airlines Group, Celanese, and Exxon Mobil.
- Express Scripts — healthcare services (3.8 miles)
- Kimberly-Clark — consumer products (4.3 miles) — HQ
- American Airlines Group — airline corporate (4.4 miles) — HQ
- Celanese — chemicals (4.6 miles) — HQ
- Exxon Mobil — energy (5.7 miles) — HQ
325 S Story Rd combines durable renter demand with value-add potential. At the neighborhood level, occupancy trends benchmark above the national median and have improved in recent years, supporting income stability, according to CRE market data from WDSuite. Within a 3-mile radius, household counts have increased and are projected to continue rising as household sizes edge smaller—conditions that typically expand the renter pool and aid lease-up and retention. Strong parks access enhances livability, while proximity to multiple corporate headquarters underpins weekday demand and commute convenience.
Built in 1973, the asset is older than the surrounding area’s average 1980s vintage, pointing to potential upside from renovations and system updates to remain competitive versus newer stock. Underwriting should also account for a less dense retail node inside the immediate neighborhood and safety indicators that track around the metro median, best addressed through active management and standard security measures.
- Neighborhood occupancy above national median supports income stability
- 3-mile household growth and smaller household sizes expand the renter base
- 1973 vintage offers clear value-add and capex planning pathways
- Proximity to major corporate HQs supports leasing and retention
- Risks: thinner walkable retail and safety below national median call for active management