| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 34th | Poor |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Lake Bardwell Dr, Ennis, TX, 75119, US |
| Region / Metro | Ennis |
| Year of Construction | 2001 |
| Units | 65 |
| Transaction Date | 2014-05-14 |
| Transaction Price | $2,462,500 |
| Buyer | 1 TIMBER OAKS ENNIS LLC |
| Seller | OAK TIMBERS ENNIS LP |
1600 Lake Bardwell Dr Ennis Multifamily Opportunity
Neighborhood renter-occupied share runs higher than many U.S. areas, supporting a stable tenant base, according to WDSuite’s CRE market data.
Situated in Ennis within the Dallas–Plano–Irving metro, the neighborhood earns a B- rating and is competitive on daily-life amenities. Amenity access ranks among the top quartile of 1,108 metro neighborhoods, with grocery, parks, and pharmacies comparing favorably to national medians. Average school ratings trend slightly above national norms, supporting family-oriented renter demand.
Rents in the neighborhood have risen over the past five years while remaining broadly in line with national levels, which helps balance pricing power with lease retention. Neighborhood occupancy is below the metro’s top performers, suggesting investors should focus on consistent leasing execution and resident services to sustain occupancy. Within a 3‑mile radius, the renter-occupied share represents a meaningful portion of housing units, reinforcing depth of the tenant pool for a 65‑unit asset.
The property’s 2001 vintage is newer than the neighborhood’s older housing stock (average year 1975), which can enhance competitive positioning versus legacy assets. Targeted modernization of common areas and systems can further differentiate the asset without the heavier capital needs typical of pre‑1980 stock.
Within a 3‑mile radius, recent years show a modest population dip but a projected increase in households and smaller average household sizes over the next five years. This points to a larger pool of households relative to people, which can translate into more renters entering the market and support occupancy stability for appropriately positioned units. Home values in the neighborhood are comparatively accessible versus higher-cost metros; that can introduce some competition with ownership, so amenities, finishes, and management sophistication are important levers for retention.
Safety indicators are mixed. Compared with the broader Dallas–Plano–Irving area, the neighborhood reports more incidents than some metro peers. Nationally, however, overall measures trend above the median, with property-related metrics comparing particularly well. Recent data also reflects a notable uptick in violent-offense indicators year over year, which warrants ongoing monitoring and prudent on-site security practices.
For investors, the takeaway is to underwrite with conservative assumptions and emphasize lighting, access control, and community engagement, while recognizing that several indicators remain competitive at the national level. All figures reflect neighborhood-level trends rather than conditions at a specific property.
Regional employment centers across telecom, engineering, building materials, and healthcare help support commuting renters from Ennis, with several headquarters within a 35-mile radius that deepen the professional tenant base.
- State Farm Insurance — insurance (30.6 miles)
- AT&T — telecommunications (34.1 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (34.4 miles) — HQ
- Builders Firstsource — building materials (34.5 miles) — HQ
- Tenet Healthcare — healthcare services (34.5 miles) — HQ
This 65-unit property’s 2001 construction positions it favorably against older neighborhood stock, offering a relative edge on systems and finishes while leaving room for targeted value-add upgrades. Based on CRE market data from WDSuite, neighborhood amenity access is competitive metro-wide, renter-occupied share is meaningful, and rent levels have risen over the last five years, supporting leasing durability if management prioritizes resident experience and asset upkeep.
Forward-looking neighborhood trends show households are expected to increase within a 3‑mile radius as average household size declines, which can expand the renter pool and support occupancy stability. Balanced against this, underwriting should account for local safety variability, the neighborhood’s occupancy lag versus metro leaders, and potential competition from relatively accessible homeownership options.
- 2001 vintage offers competitive positioning versus older local stock with selective value-add upside
- Amenity access and school ratings support family-oriented renter demand and leasing stability
- Renter concentration and projected household growth within 3 miles expand the tenant base
- Pricing remains approachable relative to major metros, but plan for competition with ownership
- Risks: monitor safety trends and underwrite conservative occupancy versus metro leaders