| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 45th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1231 W Highway 287 Byp, Waxahachie, TX, 75165, US |
| Region / Metro | Waxahachie |
| Year of Construction | 1983 |
| Units | 122 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1231 W Highway 287 Byp Waxahachie Multifamily Investment
Neighborhood occupancy is above the Dallas-Plano-Irving metro median, suggesting steady tenant retention, according to WDSuite’s CRE market data.
Situated in Waxahachie within the Dallas-Plano-Irving region, the neighborhood rates B+ and ranks 394 of 1,108 neighborhoods — competitive among Dallas-Plano-Irving neighborhoods. Occupancy in the surrounding neighborhood is 94.8%, which is above the metro median and in the 70th percentile nationally, indicating stable leasing fundamentals for multifamily assets.
Amenity access supports livability: grocery availability ranks 38 of 1,108 (top quartile nationally), restaurants rank 140 of 1,108 (top quartile nationally), and cafes rank 213 of 1,108 (competitive). However, the neighborhood reports limited parks and pharmacies, which investors should consider when positioning onsite amenities and services.
The share of renter-occupied housing units in the neighborhood is 45.5% (85th percentile nationally), signaling a relatively deep renter pool and demand resilience for apartments. Median contract rents at the neighborhood level are mid-market, and the rent-to-income ratio trends around 0.19, which can help with lease retention and measured pricing power.
Within a 3-mile radius, population and households have grown meaningfully over the last five years and are projected to expand further, implying a larger tenant base ahead. Income levels in the 3-mile area have also risen, supporting capacity to absorb rent growth. These dynamics, based on CRE market data from WDSuite, point to demand that can support occupancy stability and consistent leasing velocity.
Specific neighborhood crime metrics were not available from WDSuite for this location at the time of publication. Investors typically benchmark property-level security measures and historical trends against city and metro references to contextualize conditions and guide operating practices.
Practical steps often include reviewing publicly available city reports, comparing nearby neighborhood trends, and aligning property management protocols (lighting, access control, and coordination with local authorities) to support resident confidence and retention.
Access to major Dallas employment centers within commuting range underpins renter demand, notably across corporate headquarters in telecom, healthcare, engineering, building materials, and energy.
- AT&T — telecommunications HQ (25.0 miles) — HQ
- Tenet Healthcare — healthcare services HQ (25.3 miles) — HQ
- Builders Firstsource — building materials HQ (25.4 miles) — HQ
- Jacobs Engineering Group — engineering & professional services HQ (25.4 miles) — HQ
- Hollyfrontier — energy & refining HQ (26.0 miles) — HQ
1231 W Highway 287 Byp is a 122-unit, 1983-vintage asset in a neighborhood with occupancy above the metro median and a renter-occupied share that is high relative to national norms. The 3-mile area shows recent population and household growth with further expansion forecast, supporting a larger tenant base and steady lease-up prospects. According to CRE market data from WDSuite, local amenity access is strong for groceries and dining, reinforcing daily convenience for residents.
The 1983 vintage is older than the neighborhood’s newer housing stock (average 2007), which can present value-add potential through targeted renovations and system upgrades to improve competitive positioning. While ownership costs in the area are comparatively manageable, which can introduce competition from for-sale housing, rent-to-income levels and rising incomes suggest room for measured rent growth with prudent lease management.
- Occupancy above metro median and strong renter concentration support demand stability.
- 3-mile population and household growth expands the tenant base and underpins leasing.
- Grocery and dining access in top-quartile ranks enhances resident convenience and retention.
- Value-add upside from 1983 vintage; monitor competition from relatively accessible homeownership options and limited parks/pharmacy access.