| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1303 Chestnut St, Commerce, TX, 75428, US |
| Region / Metro | Commerce |
| Year of Construction | 1983 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1303 Chestnut St, Commerce TX — 22-Unit Multifamily
Neighborhood renter concentration is elevated and supports a durable tenant base, while occupancy has been softer than metro norms, according to WDSuite’s CRE market data.
This inner-suburb pocket of Commerce offers practical livability with a renter-leaning housing stock and steady, university-adjacent town dynamics typical of Hunt County. Based on commercial real estate analysis from WDSuite, the neighborhood shows below-metro occupancy today but a deep pool of renter-occupied units that helps underpin demand for smaller multifamily properties.
Amenities are mixed: pharmacies index in the top quartile nationally, while cafes and restaurants are above the national median, but grocery and parks access within the neighborhood are limited. For investors, this usually points to stable daily-needs coverage but fewer destination amenities nearby, which can favor workforce housing positioning and value-driven leasing.
Construction vintage skews older across nearby stock, with an average year of 1973. A 1983 asset stands somewhat newer than the neighborhood norm, which can provide competitive positioning versus pre-1970s buildings; however, systems and common areas from the 1980s may still warrant selective renovations to meet current renter expectations.
Tenure patterns indicate a high share of renter-occupied housing units in the neighborhood. That renter concentration supports depth of the tenant base and helps leasing continuity, even as neighborhood occupancy trends have run below national medians recently.
Within a 3-mile radius, demographics show modest population growth in recent years with forecasts calling for additional population gains and a notable increase in households alongside smaller average household sizes. For multifamily investors, that combination generally expands the renter pool and supports occupancy stability over time, particularly for efficient unit mixes.
Ownership costs in this area are comparatively accessible by national standards. This can introduce some competition from entry-level ownership, yet rent-to-income levels remain manageable locally, supporting retention while suggesting a measured approach to rent growth. Overall, according to WDSuite’s CRE market data, neighborhood fundamentals favor reliable renter demand with prudent underwriting around occupancy and amenity trade-offs.
Safety metrics are mixed. Compared with neighborhoods nationwide, recent readings land near the national midpoint for both property and violent offenses, indicating neither a standout low-crime area nor the weakest cohort. Relative to the 1,108 neighborhoods in the Dallas–Plano–Irving metro, the area is not among the lowest-crime segments and should be underwritten with typical risk controls for workforce-oriented submarkets.
Recent momentum shows a slight year-over-year improvement in violent offense rates but an uptick in property-related incidents. For investors, this suggests continuing to emphasize well-lit common areas, access control, and partnership with professional management to support resident retention and protect NOI.
The renter base connects to regional employers with commutable reach, supporting leasing durability for workforce-oriented properties. Notable nearby employer included below reflects the defense and aerospace presence accessible from the Commerce area.
- Raytheon Company — defense & aerospace (43.5 miles)
1303 Chestnut St is a 22-unit asset built in 1983, positioning it somewhat newer than much of the surrounding housing stock. That vintage can offer competitive operating costs versus older properties, while targeted updates to interiors and common areas may unlock value-add potential. The immediate neighborhood shows softer occupancy than national and metro medians, but a high share of renter-occupied units and balanced amenity coverage (strong pharmacy access, reasonable food-and-beverage options) support ongoing renter demand.
Within a 3-mile radius, WDSuite’s CRE market data points to modest population growth historically and a projected increase in households with smaller average household sizes—factors that typically expand the renter pool for well-priced units. Ownership remains comparatively accessible locally, which argues for disciplined pricing strategies; in turn, manageable rent-to-income levels can aid lease retention and reduce turnover volatility.
- 1983 construction offers relative competitiveness versus older neighborhood stock, with selective renovation upside
- Elevated renter-occupied share supports depth of tenant base and leasing continuity
- 3-mile outlook shows more households and smaller sizes, broadening demand for efficient units
- Amenity mix favors daily-needs access (pharmacies, food & beverage), supporting resident convenience
- Risk: neighborhood occupancy runs below medians; underwrite conservative lease-up/renewal assumptions and plan for security and amenity enhancements