| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 25th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 731 S Irving Heights Dr, Irving, TX, 75060, US |
| Region / Metro | Irving |
| Year of Construction | 1983 |
| Units | 42 |
| Transaction Date | 2018-10-12 |
| Transaction Price | $1,170,600 |
| Buyer | OAKWAY MANOR LLC |
| Seller | OAKWAY MANOR APARTMENTS LLC |
731 S Irving Heights Dr Irving Multifamily Investment Opportunity
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting demand durability according to WDSuite’s CRE market data. Proximity to major Dallas employment hubs adds leasing resilience without relying on premium rents.
This Inner Suburb location in Irving sits within the Dallas–Plano–Irving metro and draws from a broad workforce renter base. Neighborhood occupancy trends are mid-range locally, while renter-occupied share is high relative to peers, indicating depth of tenant demand and a stable leasing funnel for value-oriented units.
Daily-life amenities are accessible: grocery availability is strong (higher than most U.S. neighborhoods by national percentile), and park access ranks competitively, while cafes and pharmacies are limited. For investors, this mix points to practical livability drivers that support retention, with fewer discretionary amenity premiums embedded in rents.
The property’s 1983 vintage is newer than the neighborhood’s average construction year, positioning it competitively versus older local stock. Investors should anticipate targeted capital plans for aging systems and light modernization to sharpen positioning against similar 1980s assets, with potential value-add levers in common areas and interiors.
Within a 3-mile radius, households have increased even as overall population was roughly flat in the prior period, and forecasts call for additional household growth over the next five years—an indicator of a larger tenant base and ongoing renter pool expansion. Home values in the area are lower than national medians, which can create some competition from ownership options; however, rent-to-income levels suggest manageable affordability pressure that can aid lease retention.
School ratings trend below national norms in this neighborhood, which may modestly narrow demand from family renters seeking top-rated districts. That said, workforce proximity and everyday convenience remain the primary drivers for this location’s renter profile.
Safety indicators for the neighborhood are below the national median (national percentile signals sit in the lower half), and the area ranks in the lower half among 1,108 Dallas–Plano–Irving neighborhoods. Recent year-over-year estimates show declines in both property and violent offenses, suggesting gradual improvement, though investors should underwrite with conservative assumptions and monitor local trends.
Nearby corporate offices provide a sizable employment base that supports workforce housing demand and commute convenience, led by Xerox, Southwest Airlines, Kimberly-Clark, Celanese, and Exxon Mobil.
- Xerox — corporate offices (4.2 miles)
- Southwest Airlines — corporate offices (4.5 miles) — HQ
- Kimberly-Clark — corporate offices (4.6 miles) — HQ
- Celanese — corporate offices (4.6 miles) — HQ
- Exxon Mobil — corporate offices (5.9 miles) — HQ
This 42-unit 1983 property in Irving benefits from a renter-heavy neighborhood, practical amenity access, and proximity to major Dallas employment nodes. According to CRE market data from WDSuite, local occupancy is mid-range while renter concentration is elevated, pointing to durable day-to-day demand for workforce-oriented units and potential for steady leasing with thoughtful pricing.
Household counts within 3 miles are projected to rise, indicating a growing tenant base that can support occupancy stability. The asset’s vintage offers value-add potential through selective system upgrades and interior refreshes to compete effectively with 1970s stock, while relatively accessible ownership costs in the area argue for disciplined rent strategy to maintain retention and limit competition from entry-level homeownership.
- Workforce renter base and commute-friendly location support consistent leasing
- 1983 vintage presents targeted value-add and systems upgrade opportunities
- Household growth within 3 miles expands the tenant pool and supports occupancy
- Practical amenities (groceries, parks) aid retention without premium rent reliance
- Risks: below-median safety and lower-cost ownership alternatives require prudent underwriting and retention-focused leasing