| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 41st | Fair |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1004 Park St, Commerce, TX, 75428, US |
| Region / Metro | Commerce |
| Year of Construction | 1972 |
| Units | 21 |
| Transaction Date | 2016-08-05 |
| Transaction Price | $452,500 |
| Buyer | GREENVILLE JUNCTION LP |
| Seller | BEYOND THE BOX ASSET SOLUTIONS LLC |
1004 Park St, Commerce TX Multifamily Investment
Stable renter demand at neighborhood-level rents and an improving occupancy trend support a pragmatic hold or value-add approach, according to WDSuite’s CRE market data. Positioning focuses on affordability-driven leasing rather than amenity-led premiums.
Located in Commerce, Texas within the Dallas–Plano–Irving metro, the neighborhood is assessed at a C- rating and ranks 1,012 out of 1,108 metro neighborhoods. That places it below the metro median, so underwriting should lean conservative on rent growth while acknowledging recent improvement in occupancy at the neighborhood level.
Renter concentration in the neighborhood is meaningful, with 43.3% of housing units renter-occupied, indicating a workable tenant base for a 21-unit asset. Within a 3-mile radius, a larger renter-occupied share (56.4%) and a high 18–34 population mix suggest consistent demand for smaller-format apartments and workforce housing. Population has inched higher in recent years and is projected to grow further alongside a notable increase in households, which should expand the local renter pool and support occupancy stability.
Local amenity density is modest: restaurants score around the metro midpoint while cafes, parks, and pharmacies are sparse compared with other submarkets. Average school ratings in the neighborhood test well below national norms, which can temper appeal for family renters; marketing may perform best with singles, roommates, and younger renters. Median contract rents track below national midpoints, and the rent-to-income ratio near 0.16 points to manageable affordability pressure — a positive for lease retention and collections.
Construction vintage is 1972, slightly older than the neighborhood’s average stock (1974). Investors should budget for ongoing capital expenditures and targeted renovations to maintain competitiveness against newer supply; selective interior updates can bolster leasing without relying on premium amenity packages.
Safety indicators are relatively competitive within the Dallas–Plano–Irving metro: the neighborhood’s crime rank sits at 275 out of 1,108, placing it competitive among Dallas–Plano–Irving neighborhoods and slightly above the national median (53rd percentile). Property-related incidents benchmark stronger than many areas nationwide (around the 82nd percentile for safety), while violent-offense comparisons currently read favorable at the national level (about the 84th percentile).
That said, short-term violent-offense trends have shown volatility year over year. Investors should monitor rolling 12‑month readings and align security measures and lighting upgrades with operating plans rather than relying solely on multi-year averages.
Regional employment access is oriented toward defense and aerospace offices, supporting commuter-oriented renters who prioritize value and manageable rents.
- Raytheon Company — defense & aerospace offices (43.6 miles)
1004 Park St offers a straightforward affordability play in a renter-driven pocket of Commerce. Neighborhood rents sit below national midpoints, and, based on CRE market data from WDSuite, occupancy has trended upward locally, supporting steady leasing for smaller-format units. The 1972 vintage implies ongoing capex and selective renovations, but it also creates value-add levers to refresh interiors and improve effective rents without depending on high-cost amenities.
Within a 3-mile radius, a large share of younger adults and a sizable renter-occupied base indicate a durable tenant pipeline. Forecast population and household growth point to a larger renter pool over the next five years, underpinning occupancy stability. Key underwriting considerations include modest neighborhood amenities, below-average school ratings, and potential competition from relatively accessible ownership options; these factors argue for disciplined expense control and measured rent assumptions.
- Affordability-led leasing supported by below-national rents and manageable rent-to-income dynamics
- Upward neighborhood occupancy trend, per WDSuite data, supports stable cash flow assumptions
- 1972 vintage offers value-add potential via targeted interior updates and capex planning
- 3-mile radius shows strong renter concentration and younger adult mix, expanding the tenant pipeline
- Risks: modest amenity density, low school ratings, and competition from ownership alternatives warrant conservative rent growth