| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 75th | Best |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 151 Brick Row Dr, Richardson, TX, 75081, US |
| Region / Metro | Richardson |
| Year of Construction | 2012 |
| Units | 77 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
151 Brick Row Dr Richardson Multifamily Opportunity
High renter concentration and strong neighborhood occupancy suggest steady leasing fundamentals, according to WDSuite’s CRE market data. Location fundamentals and nearby employment hubs position this asset for durable demand within the Dallas–Plano–Irving metro.
Richardson’s inner-suburb setting offers strong neighborhood quality (A+ rating) and proximity to major job centers, supporting depth of tenant demand. Neighborhood occupancy is elevated and has trended higher in recent years, indicating resilient renter demand that can support pricing and lease stability through different parts of the cycle.
Amenities are a clear strength: the neighborhood ranks 11th out of 1,108 metro neighborhoods for cafes and sits in the top percentiles nationally for restaurants and grocery access. This concentration of daily needs, parks, and pharmacies enhances livability and reduces resident commute friction, which can aid retention and absorption for nearby multifamily assets.
The renter-occupied share of housing is high in the neighborhood, signaling a deep tenant base and consistent leasing velocity for professionally managed properties. Median home values are elevated relative to incomes locally, which tends to reinforce reliance on multifamily housing; at the same time, rent levels relative to income are comparatively manageable, supporting retention and limiting turnover risk.
Within a 3-mile radius, demographics show an evolving demand picture: households are projected to increase even as population edges lower, reflecting smaller household sizes and a shift toward more, but smaller, households. Income levels are expected to move higher over the same period, expanding the effective renter pool and supporting occupancy stability for well-located Class A and value-oriented assets.
Vintage matters: with a 2012 construction year in a submarket where the average stock is older, the property is competitively positioned versus legacy assets. Investors should still underwrite routine modernization over the hold period, but the vintage provides an advantage on curb appeal and systems relative to 1970s-era comparables.
Safety indicators are mixed but generally comparable to broader norms. Overall crime sits around the national median, while property offenses benchmark in the top quartile nationally, indicating comparatively favorable conditions versus many neighborhoods across the country.
Violent offense levels benchmark above the national median for safety, yet recent year-over-year trends show some volatility. On a metro basis, the neighborhood’s crime positioning is competitive among Dallas–Plano–Irving neighborhoods (ranked 335th of 1,108), but investors should monitor trend direction as part of ongoing asset management and resident-experience planning.
Nearby employers in technology, life sciences, and defense underpin a large commuter base and support leasing stability for workforce and professional renters. The immediate area is served by multiple Texas Instruments facilities, Thermo Fisher Scientific, General Dynamics, and Raytheon.
- Texas Instruments South Campus — semiconductors (2.4 miles)
- Thermo Fisher Scientific — life sciences (2.5 miles)
- Texas Instruments — semiconductors (2.7 miles) — HQ
- General Dynamics — defense & aerospace offices (2.7 miles)
- Raytheon — defense & aerospace (4.8 miles)
The investment case centers on durable renter demand, a deep tenant base, and competitive vintage. Neighborhood occupancy is high with positive momentum, and the renter-occupied share of housing is substantial, supporting absorption and retention. Elevated ownership costs in the area reinforce reliance on multifamily housing, while rent levels relative to income remain comparatively manageable—favorable for lease renewals. According to CRE market data from WDSuite, the neighborhood’s amenity depth and proximity to major employers further support sustained demand.
Built in 2012, the property is newer than much of the surrounding inventory, offering a competitive position versus older 1970s-era stock. Investors can prioritize targeted refreshes over heavy capital programs while still capturing value through operational efficiencies, resident experience improvements, and thoughtful lease management. Forward-looking demographics within a 3-mile radius point to an increase in households alongside smaller household sizes and rising incomes—signals that typically broaden the renter pool and help sustain occupancy through cycles. Key risks to monitor include safety trend volatility and macro-driven demand shifts.
- High neighborhood occupancy and strong renter-occupied share support stable leasing
- Competitive 2012 vintage versus older local stock reduces immediate heavy CapEx needs
- Amenity-rich inner-suburb location near major employers supports retention and absorption
- Elevated ownership costs with comparatively manageable rent-to-income ratio bolster renewal potential
- Risks: monitor safety trend volatility and macro demand shifts that could affect rent growth