| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 170 Henderson St, Midlothian, TX, 76065, US |
| Region / Metro | Midlothian |
| Year of Construction | 2001 |
| Units | 52 |
| Transaction Date | 2008-06-05 |
| Transaction Price | $4,573,400 |
| Buyer | ALLEN PERRI PROPERTIES LLC |
| Seller | SANCTUARY VENTURES II LP |
170 Henderson St Midlothian Multifamily Investment
Neighborhood occupancy sits in the mid‑90s, supporting stable cash flow potential relative to many suburban Dallas submarkets, according to WDSuite’s CRE market data. Renter demand is reinforced by a high-cost ownership market and steady population growth in the immediate area.
This suburban location in Midlothian benefits from solid renter fundamentals: neighborhood occupancy is 95.8%, placing it in the top quartile nationally, per WDSuite. Within the Dallas–Plano–Irving metro, the area’s occupancy rank (472 out of 1,108 neighborhoods) indicates competitive leasing dynamics versus many peer neighborhoods. The property’s 2001 vintage is slightly newer than the neighborhood’s average construction year (1998), which helps competitive positioning against older stock while still leaving room for targeted modernization and capital planning.
Demographic statistics aggregated within a 3‑mile radius show notable population and household growth over the past five years with further gains forecast by 2028, expanding the tenant base and supporting occupancy stability. The 3‑mile area skews toward family households with a balanced age mix, suggesting depth for smaller units as well as demand from working households. Renter‑occupied share in the 3‑mile radius is projected to rise, indicating a larger renter pool over time and reinforcing multifamily demand.
Ownership costs in the neighborhood are elevated relative to incomes (home values rank in the upper quartiles nationally and the value‑to‑income ratio is high), which tends to sustain reliance on rental housing. At the same time, neighborhood rent‑to‑income sits near metro norms, which can aid retention and reduce move‑out pressure—useful context for lease management and pricing power.
On livability, the immediate neighborhood scores low for nearby retail, groceries, parks, and cafes (ranks near the bottom among 1,108 metro neighborhoods). Average school ratings trend below national medians. Investors should underwrite with an assumption of car‑oriented living and emphasize on‑site amenities or unit finishes to offset limited walkable options. These constraints are common in suburban growth corridors and can be mitigated by access to regional job centers.
Safety indicators compare favorably in a regional and national context. The neighborhood’s crime rank is near the safer end of the spectrum (23 out of 1,108 metro neighborhoods), placing it well above metro average and in a high national percentile. Violent‑offense metrics sit in the upper‑90s percentiles nationally, and recent year‑over‑year trends indicate improvement, according to WDSuite. Property‑offense measures are also comparatively strong, ranking in a high national percentile.
As always, safety conditions can vary by block and over time; investors should corroborate trends with current local reporting. Framed at the neighborhood level, however, the data suggest conditions that support tenant retention and leasing stability versus many peer areas.
Regional employment access is anchored by large corporate employers within roughly 21–23 miles, supporting renter demand from commuters who prioritize value and space. Nearby job nodes include Ball Metal Beverage Packaging, AT&T, Express Scripts, Tenet Healthcare, and Jacobs Engineering Group.
- Ball Metal Beverage Packaging — manufacturing (21.4 miles)
- AT&T — telecommunications (22.3 miles) — HQ
- Express Scripts — pharmacy benefit management (22.4 miles)
- Tenet Healthcare — healthcare services (22.6 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (22.7 miles) — HQ
This 52‑unit asset built in 2001 aligns with the neighborhood’s strong occupancy profile and growing 3‑mile renter base. According to CRE market data from WDSuite, neighborhood occupancy is in the top quartile nationally, and elevated ownership costs relative to incomes in the area tend to sustain rental demand. The property’s slightly newer vintage versus the local average suggests competitive positioning with scope for selective value‑add to drive rent premiums and retention.
Demographic momentum within a 3‑mile radius—rising population and households with additional growth forecast—supports a larger tenant base over the medium term. While walkable amenities are limited and school ratings are below national norms, proximity to major employment hubs within 20–25 miles offers demand capture from commuters, provided underwriting accounts for car‑oriented living and potential capex for modernization.
- Top‑quartile neighborhood occupancy supports leasing stability
- 2001 vintage offers competitive positioning with value‑add upside
- Expanding 3‑mile renter pool and household growth bolster demand
- Elevated ownership costs reinforce reliance on multifamily housing
- Risks: limited nearby amenities and below‑average school ratings; plan for car‑oriented living and targeted capex