| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 66th | Best |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2360 W Denman St, Stephenville, TX, 76401, US |
| Region / Metro | Stephenville |
| Year of Construction | 1979 |
| Units | 34 |
| Transaction Date | 2023-09-15 |
| Transaction Price | $2,327,500 |
| Buyer | TOWN CREEK FOURS LLC |
| Seller | TOWN CREEK VILLAGE CORPORATION |
2360 W Denman St, Stephenville TX Multifamily Investment
Neighborhood occupancy around 95% and a renter-occupied share near half signal a durable tenant base, according to WDSuite s CRE market data. This inner-suburb location supports stable leasing with room for selective value-add execution.
The property sits in an Inner Suburb pocket that ranks first among 19 Stephenville neighborhoods with an A+ neighborhood rating, indicating strong local fundamentals relative to the metro. Neighborhood occupancy is about 95% and ranks in the top quartile among 19 metro neighborhoods, supporting near-term stability for multifamily assets in this area (measured for the neighborhood, not the property).
Tenant demand is reinforced by a renter-occupied housing share of 47.4% within the neighborhood and a 3-mile renter share of 53.5%, pointing to a deep renter pool and consistent leasing velocity. Within a 3-mile radius, households increased by roughly 17% over the last five years and are projected to grow further by 2028, expanding the local tenant base; population growth is more modest historically but is projected to improve, which should help sustain occupancy.
Everyday convenience is a local strength: restaurant density is competitive among Stephenville neighborhoods (ranked near the top) and sits well above national medians, while grocery and pharmacy access are also strong (both in higher national percentiles). Parks and formal childcare options score lower locally, which may temper appeal for some family renters, but average school ratings are strong for the metro (top-ranked among 19 neighborhoods). These metrics are measured at the neighborhood level and help frame leasing expectations for nearby multifamily.
Home values in the neighborhood are moderate by national standards, and the rent-to-income ratio of 0.18 suggests manageable affordability pressure. For investors, this typically supports retention and pricing power without materially elevating turnover risk. The average construction year in the neighborhood trends newer than this asset; at a 1979 vintage, investors should underwrite ongoing capital planning and potential value-add or modernization to enhance competitiveness versus newer stock.
Public safety metrics at the neighborhood level are not available in the current WDSuite dataset for this location. Investors commonly benchmark conditions against city and county trends and incorporate on-the-ground diligence and management practices when assessing risk and insurance budgeting.
This 1979, 34-unit asset benefits from strong neighborhood fundamentals: occupancy sits near 95% and ranks above the metro median, with a renter-occupied share close to half of housing units. Within a 3-mile radius, household counts have grown meaningfully and are projected to expand further by 2028, indicating a larger tenant base and support for steady leasing. Based on CRE market data from WDSuite, neighborhood NOI-per-unit trends are competitive among Stephenville areas, reinforcing the case for durable operations.
The vintage is older than the area s average stock, which argues for targeted capex and value-add upgrades to maintain positioning against newer deliveries. Ownership costs are moderate relative to national levels, which can create some competition with entry-level ownership; however, the local rent-to-income profile implies manageable affordability pressure that can aid retention and reduce concession risk.
- Neighborhood occupancy near 95% and top-quartile metro ranking support leasing stability.
- 3-mile household growth and projected increases expand the renter pool and support demand.
- Competitive neighborhood NOI trends, per WDSuite, align with steady operations.
- 1979 vintage offers value-add and modernization potential to enhance competitiveness.
- Risk: moderate ownership costs may compete with rentals; prudent pricing and capex planning are important.