| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 55th | Good |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2824 W Crawford St, Denison, TX, 75020, US |
| Region / Metro | Denison |
| Year of Construction | 1978 |
| Units | 49 |
| Transaction Date | 2020-11-23 |
| Transaction Price | $5,789,700 |
| Buyer | APEX EAST COAST LLC |
| Seller | EAST COAST PORTFOLIO MANAGEMENT LLC |
2824 W Crawford St, Denison TX — Value-Add Multifamily Position
Neighborhood occupancy is steady and renter demand is supported by local amenities, according to WDSuite’s CRE market data, making this 1978 asset a candidate for targeted renovation and operational upside. Metrics cited for occupancy and rents reflect the surrounding neighborhood, not the property.
Denison’s suburban setting offers daily convenience with groceries, pharmacies, parks, and dining accessible within the neighborhood. Amenity access ranks 2nd among 50 Sherman–Denison neighborhoods, indicating a competitive location for resident retention and leasing. Neighborhood rent levels sit above the metro median, while rent-to-income metrics suggest manageable affordability pressure for continued occupancy stability.
Renter-occupied housing represents roughly one-third of neighborhood units (31.6%), pointing to a meaningful tenant base for small and mid-size multifamily. At the same time, median home values in the area are lower than many Texas metros, which can introduce some competition from ownership alternatives; prudent pricing and resident experience become important to sustain renewal rates.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue growing through 2028, supporting a larger tenant base and sustained leasing velocity. Household income growth in this radius has also been solid, which can support effective rent levels without overextending residents.
The asset’s 1978 vintage is older than the neighborhood’s average construction year (1988), suggesting potential value-add through interior modernization and selective system upgrades. Thoughtful capital planning can help the property compete effectively against newer stock while capturing rent premiums relative to current finishes and features.
Schools in the area trend around the middle of the pack and may not be a primary draw for family renters; however, the broader amenity mix and commuter access anchor demand. Neighborhood occupancy has trended stable in recent years, a positive signal for underwriting ongoing cash flow resilience.
Safety indicators for the neighborhood are mixed relative to the Sherman–Denison metro. Crime ranks 9th among 50 metro neighborhoods, indicating higher reported incidents than many nearby areas, while national comparisons place the area below the midrange for safety. For investors, this argues for attentive lighting, access control, and community standards to support resident comfort and retention.
Recent momentum is constructive: estimated violent offense rates declined materially year over year and sit in a stronger improvement percentile nationally, and property offenses also moved lower. These directional trends, while not a guarantee, suggest that proactive property-level measures could align with improving local conditions over the hold period.
Regional employment is diversified, with skilled manufacturing and defense/aerospace roles contributing to commuter demand that can support renter retention. The list below highlights a notable employer within a reasonable drive.
- Raytheon Company — defense & aerospace (37.2 miles)
This 49-unit property built in 1978 presents a straightforward value-add thesis in a neighborhood with stable occupancy and a meaningful renter concentration. According to CRE market data from WDSuite, amenity access is competitive within the Sherman–Denison metro and rent levels sit above metro medians, while rent-to-income metrics indicate manageable affordability pressure—factors that can sustain lease-up and renewal performance with the right upgrade program.
Within a 3-mile radius, population and households are projected to grow through 2028, supporting a larger tenant base and pricing resilience. The older vintage implies targeted capital planning—interior renovations and selective system replacements—to improve competitive positioning versus newer stock. Key underwriting considerations include some competition from relatively accessible homeownership options, middling school ratings, and the need for strong property-level safety practices.
- Value-add potential from 1978 vintage via interior and system upgrades
- Stable neighborhood occupancy and amenity access support leasing and renewals
- 3-mile population and household growth expand the renter pool
- Manageable rent-to-income dynamics bolster pricing power without overextension
- Risks: ownership alternatives, middling school ratings, and attention to safety needed