| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 45th | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4853 N Galloway Ave, Mesquite, TX, 75150, US |
| Region / Metro | Mesquite |
| Year of Construction | 1983 |
| Units | 33 |
| Transaction Date | 2011-03-31 |
| Transaction Price | $15,150,000 |
| Buyer | LANDMARK WINDRIDGE COURT L P |
| Seller | WINDRIDGE COURT LTD |
4853 N Galloway Ave Mesquite Multifamily Investment
Neighborhood renter concentration is high and occupancy has been broadly stable at the neighborhood level, according to WDSuite’s CRE market data, supporting steady tenant demand for a well-maintained asset in Mesquite, Texas.
Located in Mesquite’s inner-suburban fabric within the Dallas–Plano–Irving metro, the neighborhood rates B- and sits above the metro median among 1,108 neighborhoods. Grocery access is a relative strength (high presence compared with regional peers), and restaurants are available locally; by contrast, parks, pharmacies, and cafes are limited in the immediate area. For investors, this mix points to day-to-day convenience for residents while highlighting potential upside in on-site amenities to differentiate.
At the neighborhood level, the share of housing units that are renter-occupied is elevated at 71.8%, indicating a deep tenant base for multifamily. Overall neighborhood occupancy is 91.4% (neighborhood metric, not the property), which has eased modestly over five years; disciplined leasing and renewal strategies can help sustain performance relative to nearby options.
Demographics aggregated within a 3-mile radius show little net population change recently, but households have expanded and are projected to rise further over the next five years, implying a larger tenant base and supporting occupancy stability. Household incomes have strengthened over the past cycle, and projected gains suggest additional spending power, which can support rent levels where value is clear.
Median home values in the neighborhood context sit below many core Dallas submarkets yet remain elevated versus local incomes (high value-to-income percentile). This high-cost ownership environment tends to reinforce reliance on rental housing, which can aid lease retention. Neighborhood median contract rents have grown over the last five years and are projected to continue rising, underscoring pricing support when paired with measurable in-unit or community upgrades.
The property’s 1983 vintage is older than the neighborhood’s average construction year, pointing to potential capital planning around systems, exteriors, and interiors. Thoughtful renovation can improve competitiveness versus newer stock while aiming to balance rent-to-income considerations to manage retention risk.
Safety indicators for the neighborhood track below national benchmarks, with both violent and property offense measures positioned in lower national percentiles compared with neighborhoods nationwide. That said, recent trends show improvement: estimated property offenses declined meaningfully over the past year, and violent offense rates also eased. These are neighborhood-level signals, not property-specific.
For underwriting, investors may assume cautious security provisioning and resident engagement, while recognizing the directional improvement and the submarket’s broader urban-suburban context within Dallas–Plano–Irving.
Proximity to major corporate employers underpins renter demand through commute convenience and diversified job access, including D.R. Horton, Texas Instruments, Dean Foods, and Builders FirstSource.
- D.R. Horton, America's Builder — corporate offices (6.1 miles)
- Texas Instruments South Campus — corporate offices (9.3 miles)
- Texas Instruments — corporate offices (9.5 miles) — HQ
- Dean Foods — corporate offices (9.6 miles) — HQ
- Builders Firstsource — corporate offices (10.1 miles) — HQ
This 33-unit, 1983-vintage asset in Mesquite is positioned for value-add strategies that address an older physical plant while leveraging a renter-heavy neighborhood and solid day-to-day retail access. According to CRE market data from WDSuite, neighborhood occupancy has been steady around the low-90s and renter concentration is high, supporting a durable tenant base when combined with pragmatic rent positioning and targeted upgrades.
Within a 3-mile radius, recent stability in population alongside growth in households and projected gains points to a larger renter pool over time. Elevated ownership costs relative to incomes support ongoing reliance on multifamily housing, while nearby employment hubs broaden demand. Key risks include affordability pressure (rent-to-income) and safety metrics that trail national benchmarks, calling for disciplined expense, security, and renewal management.
- Renter-occupied share is high at the neighborhood level, supporting demand depth and lease-up resilience.
- Household growth within 3 miles and projections suggest a larger tenant base, aiding occupancy stability.
- 1983 vintage offers clear value-add and capital planning levers to enhance competitiveness versus newer stock.
- Elevated ownership costs relative to income bolster renter reliance, supporting pricing power for well-executed upgrades.
- Risks: affordability pressure (rent-to-income), subpar safety benchmarks, and modest softening in neighborhood occupancy.