| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 24th | Poor |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 N Lancaster Ct, Lancaster, TX, 75134, US |
| Region / Metro | Lancaster |
| Year of Construction | 1981 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | $4,175,000 |
| Buyer | --- |
| Seller | Marks/Hy |
1500 N Lancaster Ct Lancaster Multifamily Opportunity
Neighborhood occupancy trends point to stable leasing conditions, according to WDSuites CRE market data, with renter demand supported by accessible rent-to-income levels and proximity to Dallas employment centers. These indicators reflect neighborhood dynamics rather than property performance and provide a clear baseline for disciplined commercial real estate analysis.
Situated in Lancaster within the DallasPlanoIrving metro, the property benefits from neighborhood occupancy that is above the metro median, supporting a baseline for cash flow stability. Renter-occupied housing accounts for a competitive share among 1,108 metro neighborhoods, indicating sufficient tenant depth for a 120-unit asset while still leaving room to pull from nearby owner-occupied households.
The areas average construction vintage skews to the mid-1980s; this propertys 1981 delivery is slightly older, which may call for targeted capital planning but also creates value-add potential through renovations and operational improvements. Amenities are limited locally (a rural neighborhood type with sparse cafes, parks, and childcare facilities), so residents often rely on nearby corridors for services and retail; investors should underwrite commute and access factors accordingly.
Within a 3-mile radius, households have increased even as recent population trends were flat to slightly negative, signaling smaller household sizes and sustained housing demand. Forward-looking 3-mile projections point to notable growth in both population and households over the next five years, expanding the renter pool and supporting occupancy stability. Median contract rents and household incomes in the area have risen over time, and a moderate rent-to-income profile reinforces retention potential rather than stretch affordability.
Home values in the neighborhood context are on the lower end relative to national markets, which can introduce some competition from entry-level ownership. For multifamily, this landscape often supports steady leasing via more accessible monthly rents and can help maintain pricing power when paired with employment access to the Dallas core. Overall neighborhood rating sits in the lower tiers locally, but the occupancy profile and renter concentration trends present a workable foundation for value-focused operators.
Relative to other neighborhoods in the DallasPlanoIrving metro (1,108 total), the areas overall crime standing is better than mid-pack and sits modestly above national averages for safety, indicating a manageable operating backdrop for workforce-oriented assets. This should be interpreted as a neighborhood-level signal, not a property-specific measure.
Recent trend data are constructive: estimated violent and property offense rates have declined over the past year (down roughly a quarter to a third), placing the neighborhood above metro averages on improvement momentum. Continued monitoring is warranted, but the directional change supports leasing stability and tenant retention planning.
Proximity to major Dallas employers supports a broad commuter tenant base and reinforces lease-up and retention potential for workforce housing. Key nearby anchors include AT&T, Jacobs Engineering Group, Builders FirstSource, Tenet Healthcare, and HollyFrontier.
- AT&T corporate HQ & communications (12.4 miles) HQ
- Jacobs Engineering Group engineering & professional services offices (12.7 miles) HQ
- Builders Firstsource building materials corporate offices (12.7 miles) HQ
- Tenet Healthcare healthcare services corporate offices (12.8 miles) HQ
- Hollyfrontier energy & refining corporate offices (13.5 miles) HQ
The investment case centers on stable neighborhood occupancy, a competitive renter concentration within the DallasPlanoIrving metro, and proximity to large employment hubs that broaden the tenant base. The 1981 vintage suggests targeted CapEx and interior upgrades can capture value-add upside relative to mid-1980s stock nearby, while a moderate rent-to-income profile supports retention and measured rent growth. According to CRE market data from WDSuite, the surrounding neighborhood trends indicate above-median occupancy, providing a constructive backdrop for consistent leasing.
Investor focus should balance operating upside with local constraints. Amenity density is limited in the immediate neighborhood, which places more weight on access to regional corridors and employer nodes. Additionally, lower-for-sale home values can create some competition with ownership; underwriting should account for finish levels, resident experience, and commute convenience to sustain pricing power as the 3-mile household base expands over the next five years.
- Above-median neighborhood occupancy supports leasing stability and cash flow consistency.
- 1981 vintage offers value-add potential through targeted renovations and ops improvements.
- Proximity to major Dallas employers broadens the commuter tenant base and retention.
- Moderate rent-to-income profile reinforces renewal likelihood and measured pricing power.
- Risks: limited local amenities and some competition from entry-level ownership options.