| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 21st | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3947 Pleasant Run Rd, Irving, TX, 75038, US |
| Region / Metro | Irving |
| Year of Construction | 1983 |
| Units | 64 |
| Transaction Date | 2018-08-06 |
| Transaction Price | $3,825,000 |
| Buyer | WOODWIND APARTMENTS LLC |
| Seller | DCP 3947 PLEASANT RUN RD LLC |
3947 Pleasant Run Rd Irving Multifamily Investment
Renter demand is supported by a high share of renter-occupied housing and steady neighborhood occupancy, according to WDSuite’s CRE market data, offering potential income stability for a 64-unit asset. This commercial real estate analysis points to proximity benefits and everyday conveniences that can aid leasing and retention.
Located in Irving within the Dallas–Plano–Irving metro, the area ranks competitive among 1,108 metro neighborhoods on overall amenities, with notable density of groceries and pharmacies that supports daily needs. Restaurant concentration is strong compared with national norms, while parks, cafes, and childcare options are more limited nearby — a tradeoff investors should weigh when assessing resident appeal.
Neighborhood occupancy is in the upper range nationally and has trended up over the last five years, which can support income durability through cycles. The share of housing units that are renter-occupied is very high, indicating a deep tenant base for multifamily.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, pointing to a larger tenant pool and potential support for occupancy and rent trends. Household incomes have also risen, which can help absorb rent growth, though lease management should monitor affordability as conditions evolve.
The property’s 1983 vintage is somewhat newer than the neighborhood’s average construction year, suggesting relative competitiveness versus older stock; however, investors should still plan for targeted modernization and systems upgrades typical for assets of this era.
Safety indicators present a mixed but improving picture. Relative to the Dallas–Plano–Irving metro, crime sits on the higher side (ranked 122 among 1,108 neighborhoods), while national positioning is around the mid-to-above-average range (about the 64th percentile). Recent year-over-year trends show meaningful declines in both violent and property offenses, which, if sustained, can reduce operational headwinds, though prudent security measures and resident engagement remain advisable.
The submarket benefits from proximity to major corporate headquarters and offices—Kimberly-Clark, Celanese, Vistra Energy, Exxon Mobil, and Fluor—which broadens the professional employment base and supports renter demand through commute convenience.
- Kimberly-Clark — consumer products HQ (2.37 miles) — HQ
- Celanese — chemicals HQ (2.75 miles) — HQ
- Vistra Energy — energy HQ (3.03 miles) — HQ
- Exxon Mobil — corporate offices (3.11 miles) — HQ
- Fluor — engineering & construction HQ (3.78 miles) — HQ
This 64-unit Irving asset sits in a renter-driven neighborhood with occupancy that has improved over five years and remains solid versus national benchmarks. Grocery and pharmacy access is strong, restaurants are plentiful, and proximity to multiple Fortune 500 headquarters supports a diversified tenant base and commute convenience. According to CRE market data from WDSuite, the surrounding area’s renter concentration and stable occupancy trends can underpin leasing consistency, while homeownership remains relatively high-cost in the broader metro context, reinforcing reliance on multifamily housing and aiding retention.
Built in 1983, the property is somewhat newer than the neighborhood average, offering a competitive edge versus older stock while still presenting opportunities for targeted value-add through interior refreshes and building systems planning. Demographic trends within a 3-mile radius indicate population and household growth today and in the forecast period, supporting a larger tenant pool; investors should pair this with careful lease management given evolving affordability and the neighborhood’s safety profile relative to the metro.
- Renter-driven neighborhood with solid occupancy and upward five-year trend
- Strong proximity to major employers supporting demand and retention
- Everyday convenience from high grocery and pharmacy density
- 1983 vintage offers modernization and value-add potential versus older stock
- Risks: safety ranks higher-risk within the metro and amenity gaps in parks/cafes; monitor affordability and operations