| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 45th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 691 Cornell Ln, Waxahachie, TX, 75165, US |
| Region / Metro | Waxahachie |
| Year of Construction | 2001 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
691 Cornell Ln, Waxahachie TX Multifamily Investment
Neighborhood occupancy trends are solid and renter demand is supported by local amenities, according to WDSuite’s CRE market data, with metrics measured at the neighborhood level rather than the property.
The property sits in an Inner Suburb neighborhood rated B+ where neighborhood occupancy trends are above the metro median (ranked 543 of 1,108 Dallas–Plano–Irving neighborhoods) and in the top half nationally. For investors, this points to steadier leasing and fewer downtime gaps at the neighborhood level, not a guarantee for the asset.
Renter-occupied housing accounts for a meaningful share of neighborhood units (ranked 305 of 1,108), which is competitive among Dallas–Plano–Irving neighborhoods and in the top quartile nationally (85th percentile). This depth of renter households supports a broader tenant base and can help sustain occupancy. Median rent-to-income in the neighborhood sits in the lower national half, suggesting manageable affordability pressure that can aid renewal retention.
Amenity access is a relative strength: groceries and restaurants index high nationally (both around the 90th percentile or better), with cafes and childcare also above average. However, park and pharmacy density are limited locally. Average neighborhood construction skews newer (2007 on average), while this asset was built in 2001, creating potential value-add via unit and system updates to stay competitive against younger stock.
Within a 3-mile radius, demographics show notable population and household growth historically and projected over the next five years, indicating a larger tenant base and continued renter pool expansion. Forecasts also point to slightly smaller average household sizes, which can support demand for smaller formats and one-bedrooms. Home values in the area are moderate in national context, and the neighborhood’s lower value-to-income positioning (around the 30th percentile nationally) means ownership is relatively accessible; investors should expect some competition from for-sale options and manage pricing power accordingly.
Comparable neighborhood-level safety rankings are not available in WDSuite for this location. Investors should evaluate broader city and submarket trends and consider property-level measures (lighting, access control, and resident engagement) alongside local law enforcement data to monitor conditions over time.
- AT&T — telecommunications HQ (25.5 miles) — HQ
- Tenet Healthcare — healthcare services HQ (25.9 miles) — HQ
- Jacobs Engineering Group — engineering & professional services HQ (25.9 miles) — HQ
- Builders FirstSource — building materials HQ (25.9 miles) — HQ
- HollyFrontier — energy & refining HQ (26.5 miles) — HQ
This 60-unit property, built in 2001, is positioned in a B+ Inner Suburb with neighborhood occupancy above the metro median and a renter base that ranks competitively across Dallas–Plano–Irving. Strong grocery and dining density support day-to-day convenience for residents, while limited parks and pharmacies are notable trade-offs. Based on CRE market data from WDSuite, the neighborhood’s rent-to-income dynamics suggest moderate affordability pressure that can support renewal retention.
Demographic trends within a 3-mile radius show robust population and household growth historically with further expansion projected, pointing to a larger tenant base and potential demand durability. Given that neighborhood construction skews newer than this 2001 asset, targeted renovations and system updates may improve competitiveness versus nearby stock while maintaining cost discipline. Balance this with the area’s relatively accessible ownership landscape, which can temper pricing power and requires attention to product differentiation and leasing strategy.
- Above-metro neighborhood occupancy supports leasing stability
- Competitive renter-occupied share and expanding 3-mile population deepen the tenant base
- 2001 vintage offers value-add potential against newer neighborhood stock
- Amenity-rich corridor (groceries, dining, childcare) supports resident convenience and retention
- Risk: ownership accessibility and limited park/pharmacy access may constrain pricing power and require focused leasing and amenity strategy