| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 67th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5015 Courtside Dr, Irving, TX, 75038, US |
| Region / Metro | Irving |
| Year of Construction | 1982 |
| Units | 96 |
| Transaction Date | 1994-08-12 |
| Transaction Price | $2,518,800 |
| Buyer | BROADMOOR VILLA INC |
| Seller | CALDER BROS CO INC |
5015 Courtside Dr, Irving TX Multifamily Investment
Positioned in an Urban Core pocket of Irving with steady renter demand and above-median neighborhood occupancy, this 96-unit asset benefits from proximity to major employment centers, according to WDSuite s CRE market data.
The neighborhood ranks in the top quartile among 1,108 Dallas Plano Irving neighborhoods overall (A rating), indicating competitive fundamentals for multifamily. Grocery, parks, and pharmacy access score above national averages, which supports day-to-day livability and leasing appeal. Restaurants are moderately represented, while cafes are limited, suggesting most daily needs are close by with some discretionary amenities a short drive away.
Neighborhood occupancy is 93.8%, placing it above the national median, a constructive signal for revenue stability relative to comparable submarkets. Median contract rents in the area trend mid-market, helping sustain a broad renter pool and manageable lease-up timelines. Renter-occupied housing accounts for a high share of units (72.7%), pointing to deep tenant demand and a durable leasing base for multifamily owners.
Within a 3-mile radius, population and household counts have grown in recent years, with households up notably and forecasts calling for additional population growth and a larger household base by 2028. This expansion supports a larger tenant base and can help maintain occupancy and absorption during turns. Household incomes have risen meaningfully, and projections indicate further gains, which can underpin rent growth while keeping rent-to-income ratios in a manageable range for retention.
Home values in the neighborhood sit above the national median, reflecting a high-cost ownership market locally. In investor terms, elevated ownership costs tend to reinforce reliance on rental housing, supporting pricing power and lease retention in well-managed assets. Median rent levels and a rent-to-income ratio near 0.23 suggest affordability pressure is moderate, which is constructive for renewal capture and reduced turnover risk based on commercial real estate analysis from WDSuite.
Safety indicators are mixed and should be monitored alongside property-level controls. The neighborhood s overall crime standing sits below the national median, and its position is below the metro median among 1,108 Dallas Plano Irving neighborhoods, indicating investors should underwrite prudent security and loss assumptions.
That said, recent trend data show improvement in violent incidents year over year, a constructive directional signal. Property-related offenses remain an area to track. Investors often mitigate these factors with lighting, access control, and proactive management, and should benchmark comps with similar urban-core profiles when evaluating underwriting assumptions.
The immediate area draws from a strong corporate corridor, supporting commuter convenience and leasing stability for workforce and professional tenants. Key nearby employers include Vistra Energy, Michaels, Kimberly Clark, Exxon Mobil, and Celanese.
- Vistra Energy — energy (2.6 miles) — HQ
- Michaels Cos. — arts & crafts retail (2.7 miles) — HQ
- Kimberly-Clark — consumer products (3.1 miles) — HQ
- Exxon Mobil — energy (3.2 miles) — HQ
- Celanese — chemicals (3.4 miles) — HQ
This 96-unit multifamily asset sits in a top-quartile neighborhood for the Dallas Plano Irving metro with above-median occupancy and a high share of renter-occupied housing, pointing to depth of tenant demand and support for leasing stability. Within a 3-mile radius, population and households have grown and are projected to expand further, suggesting a larger tenant base and healthy absorption potential over the next cycle. Elevated local home values relative to national norms indicate a high-cost ownership market that tends to sustain rental demand and bolster renewal capture. According to CRE market data from WDSuite, neighborhood rent levels and rent-to-income dynamics support retention while leaving room for disciplined rent growth management.
Built in 1982, the property likely benefits from value-add levers tied to exterior refresh, unit modernization, and systems upgrades as part of capital planning; such improvements can enhance competitive positioning against newer nearby product. Key risks include mixed safety metrics that warrant prudent underwriting and neighborhood NOI per unit that trails national peers, underscoring the importance of asset-specific execution and expense control.
- Top-quartile neighborhood standing in the Dallas Plano Irving metro with above-median occupancy supporting revenue stability.
- High renter-occupied share indicates deep tenant base and steady multifamily demand.
- 3-mile radius shows past and forecast growth in population and households, expanding the renter pool.
- Elevated ownership costs locally help sustain rental demand and support renewal capture.
- 1982 vintage provides value-add and capex upgrade pathways to enhance competitiveness; monitor safety and NOI execution risks.