| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 39th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 N Bluegrove Rd, Lancaster, TX, 75134, US |
| Region / Metro | Lancaster |
| Year of Construction | 1984 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1400 N Bluegrove Rd Lancaster Multifamily Opportunity
Neighborhood-level occupancy is exceptionally tight and rents trend above national norms, according to WDSuite’s CRE market data. For investors, the area’s stable renter demand and manageable rent-to-income dynamics point to steady lease retention rather than outsized volatility.
Lancaster’s inner-suburban setting offers daily-living essentials more than lifestyle density. Neighborhood amenities are limited (few cafes, restaurants, groceries), yet childcare and pharmacy access rate comparatively strong among Dallas-Plano-Irving peers. School ratings are not available in the dataset, so investors should underwrite education quality separately rather than assume a premium.
At the neighborhood level (not the property), occupancy is among the strongest in the metro and top percentile nationally, signaling tight supply and supporting income stability. The renter-occupied share is about two-fifths of housing units, indicating an owner-leaning area with a defined, durable tenant base for multifamily.
Within a 3-mile radius, population and households have grown in recent years, and forecasts indicate continued household expansion with smaller average household sizes. That trend typically enlarges the renter pool and supports occupancy. Median contract rents locally have risen, and neighborhood rents sit around the upper quartile nationally, which, paired with a rent-to-income ratio near the lower national decile, suggests room for disciplined rent management without overextending tenants.
Home values in the neighborhood are below many coastal and core-urban benchmarks, which can create some competition from ownership. For multifamily operators, this means pricing power depends more on convenience, onsite services, and unit finish than on ownership cost barriers. These dynamics, based on commercial real estate analysis from WDSuite, favor properties that deliver reliable operations and resident retention over amenity-driven premiums.
Safety indicators for the neighborhood trail national averages. The area ranks 667 out of 1,108 Dallas–Plano–Irving neighborhoods on composite crime measures, placing it below the metro median. Nationally, violent and property offense rates benchmark in lower percentiles, indicating comparatively higher incident exposure than safer U.S. neighborhoods.
Recent movement shows some improvement: estimated property offenses declined year over year at the neighborhood level. Investors should incorporate prudent security measures and underwriting assumptions (lighting, access control, and resident screening) while recognizing that relative safety performance is improving from prior readings.
Proximity to major Dallas employment nodes underpins renter demand, with commutes to several Fortune 500 headquarters and large corporate offices supportive of leasing stability. Nearby anchors include AT&T, Jacobs Engineering Group, Tenet Healthcare, Builders FirstSource, and HollyFrontier.
- AT&T — telecommunications HQ (11.7 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (12.1 miles) — HQ
- Tenet Healthcare — healthcare services (12.1 miles) — HQ
- Builders Firstsource — building products (12.1 miles) — HQ
- Hollyfrontier — energy & refining (12.8 miles) — HQ
This 60-unit Lancaster asset benefits from a neighborhood with exceptionally tight occupancy at the neighborhood level, a defined renter base, and proximity to major Dallas employment hubs. Rents benchmark in the upper quartile nationally for the neighborhood, while a comparatively modest rent-to-income ratio supports retention and measured revenue growth, based on CRE market data from WDSuite.
Household growth within a 3-mile radius and a trend toward smaller household sizes point to a larger tenant base over time, supporting occupancy stability. Amenity density in the immediate area is limited, but access to childcare, pharmacies, and regional employers helps sustain everyday utility and commute convenience.
- Neighborhood-level occupancy strength supports income stability and disciplined rent growth.
- Renter base depth and rising local households (3-mile radius) underpin leasing demand.
- Upper-quartile neighborhood rents paired with manageable rent-to-income support retention.
- Commute access to major Dallas headquarters reinforces consistent tenant interest.
- Risks: lower amenity density and below-average safety metrics require prudent operations and underwriting.