| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 29th | Poor |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 441 N Cowan Ave, Lewisville, TX, 75057, US |
| Region / Metro | Lewisville |
| Year of Construction | 1999 |
| Units | 20 |
| Transaction Date | 2014-09-02 |
| Transaction Price | $1,232,800 |
| Buyer | 441 COWAN LLC |
| Seller | CHRISTIAN COMMUNITY ACTION |
441 N Cowan Ave Lewisville Multifamily Investment
Neighborhood occupancy trends and a sizable renter base point to steady leasing fundamentals, according to WDSuite’s CRE market data. The submarket’s location in Denton County supports demand depth while allowing for operational value creation.
Lewisville’s inner-suburb setting offers daily convenience for renters, with neighborhood grocery, pharmacy, parks, and childcare density testing solidly against national peers. Restaurants are accessible, while café options are thinner, a typical tradeoff for pragmatic, commuter-friendly suburbs. These amenities translate into practical livability that supports tenant retention rather than destination-driven traffic.
For investors screening demand, neighborhood occupancy is above the national median and the share of renter-occupied housing is comparatively high, indicating a deeper tenant pool and potential stability in lease-up and renewals. Rents in the neighborhood have advanced over the last five years, and current rent-to-income conditions suggest some affordability pressure that warrants attentive lease management rather than aggressive pricing.
Within a 3-mile radius, the resident base has expanded in recent years, with population and households both growing and forecasts pointing to further population growth and a notable increase in households alongside smaller average household sizes. This dynamic typically broadens the renter pool and supports occupancy resilience for well-managed assets.
Home values sit around mid-tier nationally, while the local value-to-income relationship indicates a relatively high-cost ownership market for many households. In practice, this can sustain reliance on multifamily rentals and support leasing durability, even as some renters eventually explore ownership. The property’s 1999 vintage is newer than the neighborhood’s average construction year, suggesting competitive positioning versus older stock, though investors should anticipate selective modernization of systems and finishes as part of capital planning.
Safety metrics for the neighborhood trend weaker than both metro and national benchmarks, indicating elevated crime relative to many U.S. neighborhoods. Recent year-over-year readings point to increases in both property and violent offenses, underscoring the need for standard risk controls such as lighting, access management, and resident engagement.
Investors should evaluate on-site security practices and coordinate with local resources to monitor trends over time. Positioning the asset with visible management presence and preventive measures can help support resident confidence and retention despite broader area statistics.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Xerox, Stryker, Michaels, Yum China Holdings, and a Costco regional operation.
- Xerox Corporation — business services (2.3 miles)
- Stryker — medical devices (5.0 miles)
- Michaels Cos. — arts & crafts retail (9.4 miles) — HQ
- Yum China Holdings — restaurant group (9.9 miles) — HQ
- Costco Regional Office — regional operations (10.2 miles)
This 20-unit asset built in 1999 benefits from a high share of renter-occupied housing in the neighborhood and occupancy that sits above the national median—signals consistent with steady demand and lease-up durability. Within 3 miles, recent growth in population and households, with forecasts calling for further population growth and a meaningful increase in households alongside smaller household sizes, suggests ongoing renter pool expansion and support for occupancy stability.
According to CRE market data from WDSuite, neighborhood amenities are practical and everyday-oriented, while ownership costs remain relatively high versus local incomes, reinforcing reliance on rental housing. The property’s newer vintage relative to nearby stock offers competitive positioning, with targeted upgrades likely to enhance rentability and retention without requiring a full repositioning.
- High renter-occupied share supports a deeper tenant base and steadier leasing.
- 3-mile population and household growth, plus forecasts, point to ongoing renter pool expansion.
- 1999 vintage compares favorably to older neighborhood stock, with selective modernization creating value.
- Everyday amenities and mid-tier home values help sustain rental demand and lease retention.
- Risks: weaker safety readings and some affordability pressure call for proactive security and disciplined rent and renewal strategies.