| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 75th | Best |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 644 Brick Row Dr, Richardson, TX, 75081, US |
| Region / Metro | Richardson |
| Year of Construction | 2009 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
644 Brick Row Dr Richardson 2009 Multifamily Investment
Neighborhood occupancy trends remain elevated with a strong renter-occupied housing footprint, according to WDSuite’s CRE market data, supporting steady leasing near major Dallas employment nodes.
Neighborhood and market context
Situated in Richardson’s Inner Suburb within the Dallas–Plano–Irving metro, the neighborhood ranks 25th out of 1,108 metro neighborhoods, placing it in the metro’s top tier for overall livability and investment fundamentals. Amenity access is a standout — the area’s amenity rank is 8th of 1,108 — and national amenity metrics skew strong (cafes and restaurants test in the top percentiles nationwide), which supports day-to-day convenience and renter appeal.
For leasing performance, neighborhood occupancy is high at 97.2% and sits around the 85th percentile nationally, signaling durable demand and limited frictional vacancy. The share of housing units that are renter-occupied is also very high — in the top national percentile — indicating a deep tenant base that typically supports absorption and renewal rates through cycles.
Within a 3-mile radius, demographic statistics point to softer population counts alongside an increase in households and smaller average household sizes over the forecast period. For multifamily investors, that mix generally expands the renter pool of one- and two-person households and can support occupancy stability, especially for well-located assets near transit and employment.
Home values benchmark higher than many U.S. neighborhoods, and the value-to-income ratio sits in a high national percentile. In investor terms, a higher-cost ownership market often sustains reliance on multifamily rentals, which can aid pricing power and lease retention when paired with strong amenities and commuting access.
Safety context
Safety indicators are mixed but broadly comparable to national norms. Within the Dallas–Plano–Irving metro, the neighborhood’s crime rank is 335 out of 1,108 — not a clear outperformer but also not among the metro’s weakest. Nationally, property offense benchmarks read relatively favorable, while violent offense levels are better than the national midpoint yet have shown a recent year-over-year increase that merits monitoring.
For underwriting, this suggests maintaining prudent assumptions around lighting, access control, and resident experience to support retention and protect NOI if trends fluctuate over time.
Proximity to major technology and defense employers supports workforce housing demand and commute convenience that can stabilize leasing and renewals. Nearby anchors include Texas Instruments, Thermo Fisher Scientific, General Dynamics, and Raytheon.
- Texas Instruments South Campus — semiconductors (2.3 miles)
- Texas Instruments — semiconductors (2.6 miles) — HQ
- Thermo Fisher Scientific — life sciences (2.6 miles)
- General Dynamics — defense & aerospace offices (2.8 miles)
- Raytheon — defense & aerospace offices (4.9 miles)
Investment thesis
Built in 2009, this 40-unit asset competes well against an older neighborhood vintage profile (average stock dates to the 1970s), offering modern systems and finishes while leaving room for targeted capital plans or light value-add to enhance positioning. High neighborhood occupancy and a very strong renter-occupied housing share indicate depth of demand and support for stable cash flow. Based on CRE market data from WDSuite, amenity access ranks near the top of the Dallas–Plano–Irving metro and compares favorably at the national level, reinforcing leasing velocity and renewal potential.
Within a 3-mile radius, forecasts show smaller household sizes and more households over time, which can expand the renter pool even if overall population growth is muted. Elevated ownership costs in the area further sustain renter reliance on multifamily housing, supporting pricing power with prudent lease management. Investors should underwrite to mixed but generally average safety benchmarks and maintain flexible expense plans as conditions evolve.
- 2009 vintage competes well versus older local stock; scope for targeted value-add and operating efficiencies
- High neighborhood occupancy and deep renter-occupied housing share support steady absorption and renewals
- Top-tier amenity access in the metro strengthens leasing velocity and renewal potential
- Risks: mixed safety trends and soft headline population; manage via resident experience, security, and disciplined lease management