| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 24th | Poor |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 N Wood St, Ferris, TX, 75125, US |
| Region / Metro | Ferris |
| Year of Construction | 1983 |
| Units | 65 |
| Transaction Date | 2009-09-30 |
| Transaction Price | $80,000 |
| Buyer | LEWIS STAN R |
| Seller | HEPLER DENNIS |
215 N Wood St Ferris TX Multifamily Opportunity
Neighborhood occupancy trends sit above the national median, supporting stable renter demand near Dallas, based on CRE market data from WDSuite.
Situated in Ferris within the Dallas–Plano–Irving metro, 215 N Wood St is in a rural-profile neighborhood with a C- rating. Neighborhood occupancy runs above national midpoints, a constructive backdrop for stabilized multifamily assets, while local median contract rents remain relatively accessible compared with many metro submarkets—supportive of lease retention and lower turnover risk for workforce housing.
The property’s 1983 vintage is newer than the neighborhood’s average construction year of 1976. That positioning can provide a modest edge versus older nearby stock, though investors should plan for aging systems and selective modernization to compete effectively with newer product across the metro.
Livability indicators are mixed. Amenities are sparse close-in (limited cafes and pharmacies), but park access and childcare availability track above national midpoints. Average school ratings lag national norms, which may temper appeal for some family renters and argues for careful attention to unit mix, finishes, and rent positioning.
Tenure data shows a smaller pool of renter-occupied housing in the immediate neighborhood, while the broader 3-mile radius reflects a somewhat larger renter concentration. Demographic statistics aggregated within a 3-mile radius show recent gains in population and households with additional growth projected over the next five years—expanding the tenant base and supporting occupancy stability, even as some nearby areas tilt more owner-occupied.
Home values sit below national midpoints, indicating a more accessible ownership market. For multifamily, that can introduce competition from entry-level ownership; however, rent-to-income dynamics benchmark in higher national percentiles, which supports resident retention and disciplined pricing.
Safety indicators are mixed but comparatively constructive. Violent offense measures benchmark in stronger national percentiles (safer than many U.S. neighborhoods), and property offense measures are also better than national averages, though recent year-over-year trends point to some increase. For investors, prudent security planning—lighting, access controls, and monitoring—can help maintain on-site conditions.
Within the Dallas–Plano–Irving context, the area does not sit among the metro’s weakest cohorts on safety. Ongoing tracking of local trendlines is advisable as part of routine asset management and resident experience strategy.
Nearby corporate hubs within roughly 20 miles provide a broad white-collar and healthcare employment base that supports commuter renter demand. Key concentrations include AT&T, Builders FirstSource, Jacobs Engineering Group, Tenet Healthcare, and HollyFrontier.
- AT&T — corporate offices (18.4 miles) — HQ
- Builders Firstsource — corporate offices (18.7 miles) — HQ
- Jacobs Engineering Group — corporate offices (18.7 miles) — HQ
- Tenet Healthcare — healthcare corporate offices (18.8 miles) — HQ
- Hollyfrontier — corporate offices (19.6 miles) — HQ
215 N Wood St offers a 65-unit footprint in a neighborhood where occupancy benchmarks above national medians, providing a supportive backdrop for income stability. The 1983 vintage is newer than the local average, creating a relative edge versus nearby older stock; targeted capital for systems and selective renovations should enhance competitiveness. Demographic statistics within a 3-mile radius indicate recent growth with additional population and household expansion projected, broadening the tenant base. Meanwhile, rent-to-income metrics sit in higher national percentiles, which can support retention and measured rent steps, according to CRE market data from WDSuite.
Balanced against these positives, a smaller renter concentration in the immediate neighborhood, limited nearby amenities, below-average school ratings, and a recent uptick in property crime suggest underwriting for standard risk mitigations and careful rent positioning. Accessible ownership costs in the area may also create competition at certain price points, warranting attention to finishes, curb appeal, and resident services.
- Neighborhood occupancy above national midpoints supports income stability
- 1983 vintage offers relative edge over older local stock with value-add upside
- 3-mile population and household growth expands the tenant base and leasing funnel
- Favorable rent-to-income positioning aids retention and disciplined pricing
- Risks: lower renter concentration, limited amenities, below-average schools, and rising property-crime trend