| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 78th | Best |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3601 Shire Blvd, Richardson, TX, 75082, US |
| Region / Metro | Richardson |
| Year of Construction | 2013 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | $5,588,200 |
| Buyer | THE SHIRE EQUITY FUND LLC |
| Seller | SHIRE DEVELOPMENT INC |
3601 Shire Blvd, Richardson TX Multifamily Investment
Positioned in Richardson s inner suburb near major employers, the property benefits from a deep renter base and steady neighborhood occupancy, according to WDSuite s CRE market data. The location and newer vintage support durable operations with room to optimize through focused asset management.
The neighborhood scores an A and ranks 85 out of 1,108 Dallas Plano Irving neighborhoods, placing it competitive within the metro on overall fundamentals. Dining and daily needs are strong locally: restaurants rank 178 of 1,108 (top fifth metro-wide), while grocery (rank 83) and pharmacy (rank 95) access land in the top quartile. By contrast, parks and cafes are limited in immediate proximity, suggesting residents lean on nearby suburban amenities and in-property offerings.
Multifamily operations are supported by neighborhood occupancy around the national median (54th percentile) and rents that are higher than many areas in the region (80th percentile nationally for neighborhood contract rents). Within a 3-mile radius, just over half of housing units are renter-occupied, indicating a sizable tenant base and potential for consistent leasing across product types.
Demographics within 3 miles show population growth over the last five years with faster household growth, pointing to smaller household sizes and an expanding renter pool. Forward-looking projections indicate additional increases in population and households by 2028, which typically supports occupancy stability and absorption for well-located assets.
Ownership costs in the immediate neighborhood are elevated relative to local incomes (high national percentile for value-to-income), which tends to sustain reliance on multifamily housing. At the same time, rent-to-income sits near the lower national quartiles, a dynamic that can aid lease retention and reduce turnover risk relative to higher-cost rental submarkets.
Vintage factors are favorable. With a 2013 construction year versus a neighborhood average around 2002, the asset competes well against older stock, though investors should still plan for ongoing system upkeep and selective modernization to maintain positioning as comparable properties age.
Safety indicators are mixed but improving. The neighborhood s overall crime positioning is competitive among Dallas Plano Irving neighborhoods (ranked in the stronger third: 366 of 1,108) yet sits around the middle nationally (47th percentile). Year over year, both property and violent offense estimates have moved lower, indicating recent positive momentum rather than a persistent deterioration.
For investors, this translates to typical suburban risk management needs monitoring trends, reinforcing site-level security practices, and emphasizing lighting, access control, and resident engagement without evidence of outlier risk relative to the broader metro.
Proximity to engineering, defense, and life sciences offices underpins weekday traffic and short commute options for residents. Nearby employers include Raytheon, Avnet Electronics, General Dynamics, Thermo Fisher Scientific, and Raytheon Company, supporting renter demand depth and retention.
- Raytheon defense & aerospace offices (0.17 miles)
- Avnet Electronics electronics distribution (1.33 miles)
- General Dynamics defense & aerospace offices (2.14 miles)
- Thermo Fisher Scientific life sciences (2.63 miles)
- Raytheon Company defense & aerospace offices (4.38 miles)
Built in 2013, the 56-unit property offers a newer vintage relative to surrounding stock, which can reduce near-term capital intensity while remaining competitive against older assets. Neighborhood fundamentals point to steady leasing: occupancy sits near the national median and local contract rents trend above many peer areas, based on CRE market data from WDSuite. Within a 3-mile radius, household and income growth alongside an expanding renter pool supports ongoing demand.
Elevated ownership costs in the immediate area, combined with proximity to major employers, tend to reinforce multifamily reliance and leasing stability. While amenity gaps (parks and cafes) and mid-pack safety levels warrant routine asset management, demographic momentum and location fundamentals present a clear runway for durable performance and targeted value-add.
- Newer 2013 vintage relative to local stock, supporting competitive positioning and moderated near-term capex
- Neighborhood rents above many peers with occupancy around national median, indicating resilient demand
- 3-mile demographics show growth in population and households, expanding the renter base and aiding absorption
- Strong nearby employment in defense, electronics, and life sciences supports retention and leasing velocity
- Risks: limited nearby parks/cafes and mid-pack national safety profile call for active property and community management