| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 45th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Solon Place Way, Waxahachie, TX, 75165, US |
| Region / Metro | Waxahachie |
| Year of Construction | 1985 |
| Units | 120 |
| Transaction Date | 2024-05-29 |
| Transaction Price | $15,965,320 |
| Buyer | MM ELLIS LLC |
| Seller | SP WX DE LLC |
1000 Solon Place Way Waxahachie Multifamily Investment
Neighborhood occupancy and steady renter demand in Waxahachie appear supportive, according to WDSuite’s CRE market data. The investment case leans on an expanding local tenant base and balanced pricing relative to incomes.
Positioned in Waxahachie within the Dallas–Plano–Irving metro, the neighborhood is competitive among 1,108 metro neighborhoods, ranking in the upper 40% by overall score (B+). For investors, that translates to solid fundamentals without relying on premium pricing.
Livability is anchored by everyday conveniences: grocery access rates among the strongest nationally, and dining density is well above the U.S. median, while parks and pharmacies are limited within the immediate neighborhood. Average school ratings sit near the national midpoint, suggesting neither an outsized draw nor a material deterrent for family renters.
Multifamily dynamics are constructive at the neighborhood level: occupancy is above the national median, and local median asking rents track above the U.S. midpoint. Roughly mid-to-high renter concentration (share of housing units that are renter-occupied) indicates a sizable tenant base, supporting leasing velocity and retention. As part of our commercial real estate analysis, note that these occupancy and rent statistics describe the neighborhood, not this specific property.
Within a 3-mile radius, population and household counts have increased meaningfully, with further growth projected, pointing to a larger tenant base and support for occupancy stability. Home values are moderate in the national context, which can introduce some competition from ownership alternatives; however, rent-to-income levels suggest manageable affordability pressure that can aid renewals when lease management is disciplined.
Vintage context matters: the average construction year in the neighborhood trends newer than 2000, while the subject property’s 1985 vintage suggests potential value‑add through unit and system updates to remain competitive against newer stock.
Comparable crime metrics for this specific neighborhood are not reported in WDSuite’s dataset. Investors typically benchmark neighborhood safety against metro trends and city reporting when available to assess leasing risk, retention, and insurance considerations. Given the absence of a ranked signal here, a review of recent municipal reporting and owner insurance quotes can help contextualize risk relative to comparable Dallas–Fort Worth suburbs.
Regional employment anchors within commuting range include telecommunications, healthcare, engineering, building materials, and energy headquarters that broaden the white‑collar tenant base and support retention.
- AT&T — telecommunications (25.0 miles) — HQ
- Tenet Healthcare — healthcare (25.3 miles) — HQ
- Jacobs Engineering Group — engineering (25.4 miles) — HQ
- Builders Firstsource — building materials (25.4 miles) — HQ
- Hollyfrontier — energy & refining (26.0 miles) — HQ
The 1985 vintage and 120-unit scale position the asset for operational efficiency with potential value‑add upside through interior modernization and targeted system upgrades to better compete with the neighborhood’s newer stock. Neighborhood occupancy trends and above-median rents, based on CRE market data from WDSuite, indicate demand depth consistent with stable leasing in comparable suburban Dallas submarkets.
Within a 3-mile radius, strong recent increases in population and households, alongside projections for further growth, support a larger tenant base over the medium term. While ownership remains relatively accessible in this part of North Texas, disciplined rent setting and amenity improvements can sustain pricing power and retention, particularly as regional employers underpin white‑collar demand.
- Value‑add potential: 1985 vintage offers scope for renovations to strengthen competitive positioning.
- Demand support: neighborhood occupancy above national median with renter‑occupied share supportive of leasing stability.
- Growth tailwinds: 3‑mile population and household expansion point to a larger tenant base and sustained absorption.
- Amenity proximity: strong grocery and dining access aids day‑to‑day livability and retention.
- Risks: relatively accessible ownership can compete with rentals; limited parks/pharmacies nearby and renovation capex needs should be underwritten.