| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 59th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Rockingham Dr, Richardson, TX, 75080, US |
| Region / Metro | Richardson |
| Year of Construction | 1980 |
| Units | 50 |
| Transaction Date | 2021-04-30 |
| Transaction Price | $3,487,500 |
| Buyer | BRANDYWINE SENIOR HOUSING LP |
| Seller | NATIONAL CHR RESIDENCES OF RICHARDSON TX |
500 Rockingham Dr, Richardson TX Multifamily Investment
Neighborhood fundamentals point to durable renter demand and above-median occupancy, according to WDSuite’s CRE market data, positioning this asset for steady leasing performance.
Situated in Richardson’s inner-suburban fabric, the property benefits from a neighborhood rated A- and competitive among Dallas–Plano–Irving neighborhoods (ranked 175 of 1,108 metro neighborhoods). Daily needs are convenient: grocery, pharmacy, and restaurant densities sit in the upper national percentiles, while cafes are particularly prevalent. Park access is limited locally, so residents may rely on private or nearby city amenities for recreation.
Multifamily dynamics are supportive. The neighborhood’s occupancy is in the 75th percentile nationally, indicating comparatively stable leasing conditions. Median asking rents in the area have risen over the past five years, and with a rent-to-income ratio around 0.18, pricing power should be managed thoughtfully to sustain retention. Average school ratings are around 3.0 out of five (61st percentile nationally), which can support family-oriented tenancy without being a primary demand driver.
Unit tenure patterns favor apartment demand: renter-occupied share is elevated for the neighborhood, signaling a deep tenant base and recurrent leasing activity rather than frequent transitions to ownership. At the same time, median home values suggest a high-cost ownership market for many households, reinforcing reliance on multifamily rentals and supporting occupancy stability.
Within a 3-mile radius, demographics show a broadly stable population with recent growth in households and a shift toward smaller household sizes. Looking ahead, WDSuite’s data indicates further increases in households and incomes by the current forecast year, implying a larger tenant base and support for rent levels as more renters enter the market.
Safety compares favorably on a national basis. The neighborhood sits in the top quartile nationally for violent-crime safety and above-average nationally for property-crime safety, based on WDSuite’s benchmarks. This places the area ahead of many urban peers for overall safety conditions.
Recent momentum is mixed: violent incidents show a modest year-over-year improvement, while property incidents have risen. Investors may wish to monitor whether the property-crime uptick proves transitory. Relative to the Dallas–Plano–Irving metro, the neighborhood remains competitive, and standard site-level security practices can help preserve leasing stability.
Proximity to defense, life sciences, and semiconductor offices supports a steady white-collar renter base and commute convenience for residents, which can aid retention and leasing stability.
- General Dynamics — defense & aerospace offices (1.9 miles)
- Thermo Fisher Scientific — life sciences (2.0 miles)
- Raytheon — defense & aerospace offices (3.7 miles)
- Texas Instruments South Campus — semiconductors (3.8 miles)
- Texas Instruments — semiconductors (4.0 miles) — HQ
This 1980-vintage, 50-unit asset aligns with an inner-suburban neighborhood that ranks competitively within the Dallas–Plano–Irving metro and demonstrates above-median occupancy. The vintage suggests potential value-add through unit modernization and systems upgrades, while the neighborhood’s elevated renter-occupied share indicates depth in the tenant base and supports ongoing leasing activity.
Within a 3-mile radius, WDSuite’s commercial real estate analysis points to increasing households, rising incomes, and moderating household sizes—factors that can expand the renter pool and support occupancy stability. Local ownership costs remain relatively high versus incomes, which helps sustain reliance on multifamily housing without overextending rent-to-income ratios.
- Stable neighborhood occupancy with elevated renter concentration supports consistent tenant demand
- 1980 construction offers value-add potential via interior updates and building system improvements
- Strong employer base nearby (defense, life sciences, semiconductors) underpins leasing and retention
- Risks: limited park access and a recent uptick in property incidents warrant monitoring and prudent operations