| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 67th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3800 William Dehaes Dr, Irving, TX, 75038, US |
| Region / Metro | Irving |
| Year of Construction | 1983 |
| Units | 61 |
| Transaction Date | 2022-11-30 |
| Transaction Price | $65,080,890 |
| Buyer | EPC WESTGATE LLC |
| Seller | WESTGATE & GLEN ARBOR MULTIFAMILY LLC |
3800 William Dehaes Dr Irving Multifamily Investment
Neighborhood occupancy is solid with a high share of renter-occupied units, supporting depth of tenant demand according to WDSuite’s CRE market data. Proximity to major corporate headquarters further underpins leasing stability for a 61-unit asset in Irving.
The property sits in an Urban Core pocket of Irving that is competitive among Dallas–Plano–Irving neighborhoods (ranked 160 out of 1,108 overall). Amenity access trends above national averages in key daily-needs categories, with grocery, parks, and pharmacies scoring in higher national percentiles, while cafes are thinner locally. These patterns point to convenience for residents without relying on destination retail.
Neighborhood occupancy trends are above the national median, and renter concentration is high (share of housing units that are renter-occupied), indicating a sizable tenant base that supports multifamily absorption and renewal velocity. Median contract rents in the neighborhood sit near the middle of the Dallas metro range, which can help sustain leasing while preserving room for revenue management.
Within a 3-mile radius, population and households have grown over the past five years and are projected to increase further by 2028, expanding the renter pool. Household sizes have edged slightly lower, suggesting continued demand for a variety of unit types and potential stability in occupancy as more households enter the market.
Home values in the neighborhood are elevated relative to national norms, and the value-to-income ratio sits in a high national percentile. In investor terms, this is a high-cost ownership market that can reinforce reliance on rental housing, supporting tenant retention and pricing power when balanced against rent-to-income levels.
Vintage matters: built in 1983 versus a neighborhood average near 1984, the asset is slightly older than much of the local stock. Investors should plan for targeted capital projects and value-add upgrades to maintain relative competitiveness and unlock rent premiums versus legacy finishes.
Safety indicators for the neighborhood are mixed. Relative to the 1,108 neighborhoods across the Dallas–Plano–Irving metro, overall crime ranks around the middle of the pack, which implies conditions near the metro average rather than top-tier. Nationally, the area sits below average on safety percentiles, so underwriting should assume standard security measures and operational oversight.
Trend-wise, WDSuite data shows an improvement in violent offense rates over the last year (a meaningful decline), even as property offenses increased. For investors, this split suggests monitoring property-security line items and building-level controls while acknowledging directional improvement in more serious offenses.
Nearby corporate headquarters and offices create a strong white-collar employment base that supports renter demand and short commute times, notably from Kimberly-Clark, Celanese, Vistra Energy, Exxon Mobil, and Express Scripts.
- Kimberly-Clark — consumer products HQ (2.7 miles) — HQ
- Celanese — chemicals HQ (3.1 miles) — HQ
- Vistra Energy — utilities HQ (3.2 miles) — HQ
- Exxon Mobil — energy HQ (3.3 miles) — HQ
- Express Scripts — pharmacy benefits (3.7 miles)
This 61-unit 1983-vintage property benefits from a high share of renter-occupied housing in the neighborhood and occupancy that trends above national medians, supporting day-one demand and renewal stability. The Irving location is reinforced by proximity to multiple Fortune 500 headquarters, creating a durable white-collar renter base and diversified income profiles.
Within 3 miles, population and household counts have grown and are projected to continue rising by 2028, indicating renter pool expansion that can sustain occupancy and provide revenue management flexibility. Elevated neighborhood home values, in the context of moderate neighborhood rent levels, suggest ownership remains relatively high-cost, which can bolster multifamily retention; according to CRE market data from WDSuite, these dynamics are consistent with submarkets that maintain steady occupancy through cycles. Given its vintage, targeted capex and value-add upgrades can improve competitive positioning against newer stock.
- High renter-occupied share supports depth of tenant demand and renewal stability.
- Proximity to major headquarters (2.7–3.7 miles) underpins leasing from a large white-collar workforce.
- 3-mile population and household growth points to a larger renter pool and occupancy support.
- Elevated ownership costs locally can reinforce rental demand and pricing power when managed to rent-to-income.
- Risks: safety metrics are around metro average with higher property offenses; 1983 vintage requires ongoing capex to stay competitive.