| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 43rd | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1824 Crescent Dr, Sherman, TX, 75092, US |
| Region / Metro | Sherman |
| Year of Construction | 1973 |
| Units | 60 |
| Transaction Date | 2025-01-21 |
| Transaction Price | $14,066,080 |
| Buyer | WRC SHERMAN OAKS APARTMENTS LP |
| Seller | WRC ARCHER VILLAGE LLC |
1824 Crescent Dr Sherman TX Multifamily Opportunity
Neighborhood occupancy sits at 94.2% (neighborhood, not the property), suggesting durable renter demand according to WDSuite’s CRE market data. With renter-occupied share above half of units locally, investors can target steady leasing with pragmatic operations.
This Inner Suburb neighborhood in Sherman ranks 23rd out of 50 metro neighborhoods (rating: B), placing it above the metro median. Neighborhood occupancy is 94.2% and has trended higher over the past five years, indicating relatively stable performance at the submarket level rather than at the property. Compared with nationwide peers, occupancy sits above the national median, offering a constructive backdrop for lease retention.
Livability is mixed but functional for workforce renters. Restaurant density ranks 5th of 50 locally and in the 74th percentile nationally, while grocery access is also competitive (ranked 5th of 50 and in the upper-third nationally). By contrast, parks, cafes, and pharmacies are limited within the neighborhood footprint, which may shift some lifestyle needs to adjacent areas. Average school ratings sit in the lower national percentiles; investors should underwrite family-oriented demand accordingly.
Tenure patterns favor multifamily: 54.9% of occupied housing units are renter-occupied (ranked 3rd of 50; 91st percentile nationally for renter concentration). That depth of renter households supports a broader tenant base and can aid occupancy stability. The average household size is on the smaller side compared with national benchmarks, which typically aligns with demand for studios and one-bedrooms.
Within a 3-mile radius, WDSuite data shows recent population growth and a faster increase in households, pointing to a larger renter pool over time. Looking ahead to 2028, forecasts indicate continued expansion in households and incomes in the 3-mile area, which would support leasing velocity and renewal rates if realized. Median home values are around the national midpoint here, and with a rent-to-income ratio of about 0.17 for the neighborhood, rents appear relatively manageable from a retention standpoint, balancing pricing power with affordability risk.
Comparable, neighborhood-level crime metrics were not available in this data release. Investors typically benchmark neighborhood safety against city and county trends and verify conditions through on-the-ground diligence and public reporting. Given the lack of ranked or percentile data here, any underwriting assumptions should use cautious ranges and incorporate sensitivity testing.
- Raytheon Company — defense & aerospace offices (28.9 miles)
- AT&T Datacenter — data center (37.2 miles)
- Alliance Data Systems — marketing & payments (39.6 miles) — HQ
- Dr Pepper Snapple Group — beverages (39.7 miles) — HQ
- J.C. Penney — retail headquarters & offices (39.8 miles) — HQ
At 60 units with compact floorplans, the property aligns with a neighborhood that skews toward smaller households and a high share of renter-occupied units. Neighborhood occupancy of 94.2% and a rising trend over five years point to leasing stability at the area level, while median home values near national midpoints and a rent-to-income ratio around 0.17 support retention and consistent absorption. Based on commercial real estate analysis from WDSuite, the surrounding 3-mile area shows recent population growth and a faster increase in households, which expands the tenant base and underpins demand for efficient units.
Balanced underwriting should acknowledge mixed livability signals: strong proximity to restaurants and groceries but limited parks, pharmacies, and cafes within the immediate neighborhood, and school ratings below national averages. Income performance in the broader area trails national benchmarks, suggesting investors may prioritize value-focused amenities and operational efficiencies to sustain occupancy and NOI.
- Neighborhood occupancy at 94.2% (neighborhood, not property) supports leasing stability
- High renter-occupied share (ranked 3rd of 50) indicates deep tenant base
- 3-mile growth in population and households expands the renter pool and renewal prospects
- Restaurant and grocery convenience offset by limited parks/pharmacies; underwrite amenities accordingly
- Risk: income performance below national benchmarks may require disciplined pricing and expense control