| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 42nd | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 W Red Oak Rd, Red Oak, TX, 75154, US |
| Region / Metro | Red Oak |
| Year of Construction | 1982 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
507 W Red Oak Rd Red Oak Multifamily Value-Add
Positioned in a suburban Dallas metro pocket with steady renter demand and commuting access, the asset benefits from an owner-leaning area that supports retention and pricing discipline, according to WDSuite’s CRE market data.
Red Oak sits within the Dallas-Plano-Irving metro and scores competitively among 1,108 metro neighborhoods (overall B+). Amenity access trends toward the top quartile metro-wide, with restaurants and cafes performing well relative to peers, supporting day-to-day convenience for residents and reinforcing leasing appeal.
Amenities and access: Amenity density ranks in the top quartile among 1,108 metro neighborhoods, and pharmacy availability also performs near the top of the metro distribution. Restaurants are competitive among Dallas-Plano-Irving neighborhoods, while grocery access tracks above the metro median. These factors help underpin livability and reduce friction for daily needs.
Tenure and renter demand: The neighborhood’s share of renter-occupied housing units is modest (around one-quarter of units), indicating an owner-leaning area. For investors, that typically points to a defined but stable tenant base and less direct competition from dense rental clusters, which can aid retention when operations and positioning are managed effectively.
Demographics within a 3-mile radius: Population and household counts have expanded over the last five years, with further growth projected by 2028. Rising household incomes and a broadening middle-to-upper income mix suggest a larger tenant base with capacity for quality finishes and services. Forecasts also call for continued household growth alongside smaller average household sizes, which can translate to more renters entering the market and support occupancy stability.
Rents, occupancy, and affordability: Neighborhood occupancy trends sit around the low-90s and slightly above national medians, based on CRE market data from WDSuite. Median contract rents and a rent-to-income profile indicative of manageable housing costs in this area support lease renewal potential, while elevated home values in the broader context reinforce renter reliance on multifamily housing. For multifamily property research, the property’s 1982 vintage is older than the neighborhood’s more recent average stock (2008), pointing to value-add and capital planning opportunities that can enhance competitive positioning.
Safety indicators for the neighborhood are generally above national norms. National percentiles suggest comparatively favorable conditions for both violent and property offenses, placing the area in a stronger position than many neighborhoods nationwide. At the metro scale, performance is competitive among Dallas-Plano-Irving neighborhoods.
Recent year-over-year estimates indicate some upward movement in offense rates, which investors should monitor as part of standard risk management. Framing safety at the neighborhood level—rather than block-by-block—helps set realistic expectations when underwriting retention and insurance considerations.
Proximity to major Dallas employers helps support commuting convenience and renter demand from a diversified professional base. Nearby headquarters and corporate offices include AT&T, Jacobs, Tenet Healthcare, Builders FirstSource, and HollyFrontier.
- AT&T — telecommunications (18.1 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (18.4 miles) — HQ
- Tenet Healthcare — healthcare services (18.4 miles) — HQ
- Builders Firstsource — building materials (18.5 miles) — HQ
- Hollyfrontier — energy (19.1 miles) — HQ
507 W Red Oak Rd offers a suburban Dallas metro location with competitive neighborhood fundamentals, stable occupancy, and proximity to large employment nodes. The area’s owner-leaning tenure supports a defined renter base, while 3-mile demographics point to continued population and household growth that can expand the renter pool and help sustain leasing performance. According to CRE market data from WDSuite, neighborhood occupancy trends near the low-90s and above national medians, reinforcing a base case for steady operations.
Built in 1982, the property is older than the neighborhood’s average construction year, creating a clear value-add path through selective renovations and system upgrades to improve competitive standing against newer stock. Elevated ownership costs in the broader area, alongside manageable rent-to-income dynamics, can support retention and measured rent positioning when paired with thoughtful unit and common-area improvements.
- Competitive suburban location with amenity access trending top quartile in the Dallas-Plano-Irving metro
- Defined renter base in an owner-leaning area supports retention with disciplined operations
- 1982 vintage presents value-add potential to close the gap with newer neighborhood stock
- Proximity to major Dallas employers underpins demand and leasing stability
- Risks: recent year-over-year upticks in estimated offense rates and an owner-leaning tenure may moderate lease-up velocity