| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 58th | Good |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2346 Pettit Pkwy, Whitewright, TX, 75491, US |
| Region / Metro | Whitewright |
| Year of Construction | 1989 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2346 Pettit Pkwy Whitewright TX Multifamily Investment
Neighborhood-level occupancy trends are below the metro median but generally steady, according to WDSuite’s CRE market data, positioning this 40-unit asset to compete on affordability while capturing demand from nearby employment corridors.
Whitewright is a rural neighborhood within the Sherman–Denison metro (ranked 29 out of 50; B- rating). Amenity access is limited (amenity rank 28 of 50; 13th percentile nationally), so residents rely on regional retail and services by car. School quality trends are comparatively favorable for the area (average school rating sits around the 70th percentile nationally), which can support family-oriented renter retention.
The typical construction vintage nearby skews older (1982 average; rank 35 of 50), while this property was built in 1996. Being newer than much of the local stock can help on competitiveness, though investors should still plan for ongoing system updates and common-area refreshes over the hold.
Neighborhood occupancy is below the metro median (rank 34 of 50), and asking rents in the area skew lower than many markets (very low national rent percentile). That combination points to value positioning over premium pricing. At the same time, a low rent-to-income ratio (92nd percentile nationally) suggests headroom for disciplined rent management without overextending tenants, supporting lease stability.
Within a 3-mile radius, demographics indicate a smaller but stabilizing renter pool: renter-occupied housing units account for roughly a quarter of stock today (about 24% renter concentration), and households are projected to increase over the next five years, expanding the local tenant base. These dynamics, combined with moderate home values near national medians, imply that rental housing remains a practical option even as ownership stays accessible, with implications for renewal strategy and pricing discipline.
Relative to the Sherman–Denison metro, the neighborhood ranks among the strongest on safety (crime rank 1 of 50), and compares favorably nationwide (roughly mid-to-upper quartiles, including violent offense safety around the 83rd percentile nationally). Year over year, both property and violent offense rates have moved lower, reinforcing a constructive trend rather than a single-year anomaly.
As always, safety conditions vary across blocks and over time; investors should pair these comparative indicators with standard on-the-ground diligence and historical trend reviews for the broader trade area.
Proximity to regional employers supports workforce housing demand and commuting convenience, with tenants accessing roles in defense/aerospace, data infrastructure, beverages, medical devices, and marketing services. The nearby base includes Raytheon Company, AT&T Datacenter, Dr Pepper Snapple Group, St Jude Medical, and Alliance Data Systems.
- Raytheon Company — defense & aerospace offices (24.5 miles)
- AT&T Datacenter — data center operations (32.5 miles)
- Dr Pepper Snapple Group — beverages (37.6 miles) — HQ
- St Jude Medical — medical devices (37.8 miles)
- Alliance Data Systems — marketing & payments (38.0 miles) — HQ
This 40-unit, 1996-vintage property offers a value-focused position in a rural submarket where neighborhood occupancy trends sit below the metro median but remain steady. Being newer than the area’s 1980s-average stock provides a relative edge on functionality and curb appeal, while still leaving room for targeted capital to modernize systems and finishes. According to CRE market data from WDSuite, local rent burdens are low by national standards, which supports retention and measured rent steps rather than outsized growth bets.
Within a 3-mile radius, households are projected to grow over the next five years, expanding the tenant base even as ownership remains accessible. That mix, alongside access to diversified employment nodes across North Texas, underpins a thesis centered on occupancy stability, prudent rent management, and selective value-add. Primary risks include limited amenity density and competition from ownership given moderate home values and a high owner share, which warrant conservative underwriting and emphasis on property operations.
- 1996 construction competes well versus older local stock, with clear paths for targeted upgrades
- Low rent-to-income levels support retention and disciplined rent growth without overextension
- 3-mile household growth outlook expands the renter base and supports occupancy stability
- Access to diversified regional employers supports leasing and renewal performance
- Risks: limited amenity density and ownership competition call for conservative underwriting