| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 67th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4905 Courtside Dr, Irving, TX, 75038, US |
| Region / Metro | Irving |
| Year of Construction | 1979 |
| Units | 61 |
| Transaction Date | 2008-07-15 |
| Transaction Price | $1,828,100 |
| Buyer | MONTEGO BAY LLC |
| Seller | MONTEGO MANAGEMENT II LLC |
4905 Courtside Dr, Irving TX Multifamily Investment
Strong renter concentration and proximity to established corporate headquarters position this asset for durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy metrics are measured at the neighborhood level and indicate stable performance relative to metro peers.
The property sits in an Urban Core pocket of Irving that ranks 160 out of 1,108 neighborhoods in the Dallas–Plano–Irving metro, placing it in the top quartile among metro neighborhoods. That standing reflects balanced livability and investment fundamentals that support leasing stability for mid-size assets.
Renter-occupied housing is elevated in the immediate area, with neighborhood renter concentration well above most U.S. neighborhoods (near the 98th percentile). For investors, a deep renter base typically supports consistent absorption and reduces downtime between turns. Neighborhood occupancy trends are solid (nationally above median), which helps underpin near-term cash flow durability.
Everyday amenities are practical rather than lifestyle-driven: grocery access and pharmacies score around the top fifth nationally, while parks are also comparatively accessible. Restaurant density is moderate, but cafe density is limited—operators should emphasize in-unit and on-site conveniences to remain competitive. Median home values trend above national norms, and the neighborhood’s value-to-income ratio is high versus the U.S., which often sustains reliance on rental housing and can support pricing power when managed carefully.
Demographic statistics are aggregated within a 3-mile radius and indicate population growth over the last five years with further expansion projected, alongside a rising median household income and a renter share above 65%. Household counts are expected to increase, pointing to a larger tenant base and support for occupancy stability. Median contract rents in the area remain aligned with incomes, suggesting manageable affordability pressure and room for targeted value-add repositioning where warranted.
Vintage context: the property’s 1979 construction is slightly older than the neighborhood average vintage (early 1980s). For investors, that typically means planning for selective capital projects—systems, exteriors, and interiors—to sustain competitiveness against newer stock while capturing renovation-driven rent premiums.
Neighborhood safety signals are mixed relative to broader benchmarks. Compared with U.S. neighborhoods, overall safety sits below the national median (around the 36th percentile), and within the Dallas–Plano–Irving metro the area is near the metro median based on rank among 1,108 neighborhoods. These metrics reflect neighborhood-level patterns, not property-specific conditions.
Notably, recent trend data show an improvement in violent-offense rates over the last year, with reductions that compare favorably to many U.S. neighborhoods. Investors should underwrite with typical urban-core assumptions—lighting, access control, and resident engagement—while recognizing that trend improvement can support retention and leasing stability if maintained.
The location draws from a dense corporate corridor that supports commuter convenience and a steady renter pool, including headquarters operations from Vistra Energy, Michaels, Kimberly-Clark, Exxon Mobil, and Celanese.
- Vistra Energy — corporate offices (2.7 miles) — HQ
- Michaels Cos. — corporate offices (2.9 miles) — HQ
- Kimberly-Clark — corporate offices (2.9 miles) — HQ
- Exxon Mobil — corporate offices (3.1 miles) — HQ
- Celanese — corporate offices (3.3 miles) — HQ
This 61-unit, 1979-vintage asset in Irving benefits from a high renter-occupied share at the neighborhood level, steady neighborhood occupancy in the low-to-mid 90s, and adjacency to multiple Fortune 500 headquarters that deepen the tenant base. The vintage suggests practical value-add potential through targeted system updates and interior renovations to maintain competitiveness versus newer product. According to CRE market data from WDSuite, neighborhood home values and ownership costs trend above national norms, which helps sustain multifamily demand and supports pricing discipline when paired with thoughtful lease management.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, indicating a larger renter pool ahead. Amenity access is functional (groceries, parks, and pharmacies test well), while limited cafe density reinforces the case for on-site conveniences. Underwriting should acknowledge urban-core safety variability, but recent improvement trends are a constructive signal for retention and leasing.
- High neighborhood renter concentration supports demand depth and absorption
- Stable neighborhood occupancy in the mid-90s aids cash flow resilience
- Corporate HQ cluster within 3–4 miles underpins leasing and retention
- 1979 vintage offers value-add and capital planning opportunities
- Risk: urban-core safety sits below national median; continue proactive security and resident engagement