| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 39th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 N Bluegrove Rd, Lancaster, TX, 75134, US |
| Region / Metro | Lancaster |
| Year of Construction | 1984 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1600 N Bluegrove Rd Lancaster Multifamily Opportunity
The surrounding neighborhood, according to WDSuite’s CRE market data, has maintained full occupancy, signaling durable renter demand for stabilized operations. This positioning offers investors a straightforward income thesis with potential to optimize through management and selective upgrades.
Situated in an inner suburb of the Dallas–Plano–Irving metro, the property benefits from steady local housing dynamics and a renter-occupied share around the neighborhood median, supporting a reliable tenant base. Neighborhood occupancy is currently reported at 100% (a neighborhood-level metric), indicating tight supply conditions that can support rent collections and lease retention, based on CRE market data from WDSuite.
Rent positioning trends are competitive, with neighborhood rents in the top quartile nationally, while the rent-to-income profile skews favorable for retention versus many higher-cost submarkets. Median home values track closer to national mid-range levels, which can introduce some competition from for-sale options, but also broadens the local demand pool for multifamily housing.
Amenity access is mixed: pharmacies and childcare options rank in the top quartile nationally, but walkable retail such as groceries, cafes, restaurants, and parks is limited within the immediate neighborhood. For investors, this mix suggests a car-oriented renter base and opportunities to emphasize on-site conveniences and resident services to bolster leasing and renewal performance.
Demographic statistics are aggregated within a 3-mile radius and indicate modest population growth in recent years and a notable increase in households, with average household size trending lower. This pattern typically expands the renter pool and supports occupancy stability, particularly for well-managed workforce-oriented assets.
Safety indicators are mixed relative to the Dallas–Plano–Irving metro. Neighborhood safety levels compare below the national median, but recent trends show property offenses declining year over year, while violent offense measures increased over the same period. These are neighborhood-level indicators, not property-specific, and should be weighed alongside operational controls, lighting, access management, and resident screening when underwriting.
Proximity to major corporate headquarters in and around Dallas supports a broad employment base and commute convenience for renters, notably across telecom, engineering, healthcare, building materials, and energy.
- AT&T — telecommunications (11.6 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (12.0 miles) — HQ
- Tenet Healthcare — healthcare services (12.0 miles) — HQ
- Builders Firstsource — building materials (12.0 miles) — HQ
- Hollyfrontier — energy & refining (12.7 miles) — HQ
Built in 1984, this 60-unit asset offers a practical value-add path: vintage is slightly newer than the neighborhood average, providing a competitive edge versus older stock while still allowing targeted renovations to modernize interiors and systems over time. Neighborhood occupancy is currently full (neighborhood-level), reinforcing near-term income stability; according to CRE market data from WDSuite, local rent positioning is nationally competitive, and the rent-to-income profile suggests room to manage renewals without outsized affordability pressure.
Within a 3-mile radius, households have been increasing and are projected to expand further as average household size trends lower—dynamics that typically enlarge the renter base and support lease-up and retention. Amenity access skews car-oriented, and safety indicators are below national medians, which should be reflected in on-site security, lighting, and community programming. Overall, the thesis centers on stable demand, measured upgrades, and operational execution.
- Full neighborhood occupancy supports income stability and collections
- 1984 vintage allows value-add through selective renovations and system updates
- Competitive neighborhood rent positioning with favorable rent-to-income profile aids renewal strategy
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-median safety metrics and limited walkable retail require stronger on-site operations