| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 86th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1851 N Greenville Ave, Richardson, TX, 75081, US |
| Region / Metro | Richardson |
| Year of Construction | 2007 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1851 N Greenville Ave Richardson Multifamily Investment
Positioned in an inner-suburban pocket with strong renter demand and solid amenities, the property benefits from a deep tenant base and steady leasing drivers, according to WDSuite’s CRE market data.
The neighborhood ranks 23 out of 1,108 within the Dallas–Plano–Irving metro (A+ rating), placing it firmly among the top quartile of metro neighborhoods. Amenity access is competitive versus national peers as well, with restaurants, cafes, parks, and daily conveniences scoring in the upper national percentiles—supportive of renter retention and lease-up velocity for well-positioned assets.
Vintage mix skews newer than the metro average: the subject’s 2007 construction stands well ahead of the neighborhood’s average 1986 build year. For investors, that positioning can translate into relative competitiveness against older stock, though some systems and common areas may still benefit from modernization or light value-add to meet current finishes.
Renter concentration at the neighborhood level ranks among the highest in the metro (top tier by rank out of 1,108), signaling a sizable base of renter-occupied housing units that can support demand depth for multifamily. At the same time, the neighborhood’s occupancy rate sits below the national median, emphasizing the importance of asset-level leasing execution, targeted upgrades, and effective management.
Within a 3-mile radius, population and household growth have been strong historically and are projected to continue, with forecasts indicating further population growth and a notable increase in households alongside smaller average household sizes. That trajectory points to a larger tenant base and more renters entering the market, especially for well-amenitized product near employment nodes and transit corridors.
Income trends reinforce demand fundamentals. Household incomes within 3 miles have risen meaningfully and are projected to continue increasing, while rent levels are above national norms for the neighborhood (national percentile in the 80s). Combined with a rent-to-income ratio that sits on the lower end nationally, these factors support pricing power for competitive assets while helping mitigate lease turnover risk.
Relative safety indicators compare favorably. The neighborhood’s crime profile places it above the national average for safety, with violent and property offense measures landing in the top quartile nationally. Compared with Dallas–Plano–Irving peers, its crime rank sits in the stronger cohort (rank 97 out of 1,108), indicating a comparatively safer position among metro neighborhoods.
Recent trend data show incremental improvement: estimated property offenses declined year over year, and violent offense rates also ticked down. While conditions can vary by block and over time, the directional movement and comparative standing provide supportive context for renter appeal and retention.
Proximity to diversified corporate employers supports weekday traffic, commute convenience, and leasing stability, with nearby defense, life sciences, electronics distribution, and semiconductor offices all within a short drive.
- General Dynamics — defense & aerospace offices (0.54 miles)
- Thermo Fisher Scientific — life sciences (0.96 miles)
- Raytheon — defense & aerospace offices (2.32 miles)
- Avnet Electronics — electronics distribution (3.00 miles)
- Texas Instruments South Campus — semiconductors (4.88 miles)
This 84-unit, 2007-built asset sits in a top-ranked inner-suburban neighborhood of Dallas–Plano–Irving, with strong amenity access and a renter base that tests among the highest shares of renter-occupied units in the metro. Neighborhood rents benchmark above national norms, and, according to CRE market data from WDSuite, income growth and a growing household count within 3 miles point to a larger tenant base that can support occupancy stability and measured rent growth for competitively positioned product.
The asset’s newer-than-average vintage versus the neighborhood’s 1980s building stock helps competitive positioning, though targeted modernization can enhance finishes and common areas. Investors should note that neighborhood occupancy tracks below the national median, making leasing strategy, unit turns, and amenity execution essential to capture demand from nearby employment nodes and expanding higher-income households.
- Top-tier neighborhood rank (23 of 1,108) with strong amenity access supporting retention
- 2007 construction provides competitive edge versus older local stock; selective upgrades can drive value
- Expanding 3-mile population and households create a larger tenant base and support occupancy stability
- Neighborhood rents above national norms align with rising incomes, aiding pricing power for competitive assets
- Risk: neighborhood occupancy sits below the national median, requiring disciplined leasing and asset management