| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2309 Washington St, Commerce, TX, 75428, US |
| Region / Metro | Commerce |
| Year of Construction | 1985 |
| Units | 113 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2309 Washington St, Commerce TX Multifamily Investment
Renter concentration in the neighborhood and projected household growth within three miles point to a durable tenant base, according to WDSuite’s CRE market data. This positioning supports steady leasing potential with thoughtful operations and competitive finishes.
The neighborhood shows a high share of renter-occupied housing (renter concentration), indicating depth in the tenant pool and potential demand resiliency for multifamily. However, the neighborhoods occupancy rate trends below national norms (ranked 1,057 out of 1,108 metro neighborhoods), placing it below the metro median; maintaining pricing discipline and focused leasing will matter for stability.
Within a 3-mile radius, recent population growth has been modest and households are projected to increase further over the next five years, alongside smaller average household sizes. This points to more individual households seeking units and a gradually expanding renter pool, a constructive backdrop for occupancy management and renewal strategies.
Local convenience is mixed: pharmacies are dense (top quartile nationally), with solid coverage of restaurants and cafes (above national midpoints), while grocery and park access are limited in the immediate area. For investors, this suggests on-site conveniences and resident services can differentiate the property and support retention.
Home values in the neighborhood sit at the lower end of the metro context, which can make ownership more accessible and introduce some competition for renters. At the same time, rent-to-income levels are manageable for many households, which supports lease retention and measured rent growth tied to value delivered, based on commercial real estate analysis from WDSuite.
Neighborhood safety indicators sit around the national midpoint overall, with crime metrics that are competitive among Dallas-Plano-Irving neighborhoods (ranked 419 out of 1,108). Nationally, the areas profile is closer to average than to top-tier, so investors should underwrite standard security and lighting enhancements consistent with comparable assets.
Recent trends show violent offense rates improving year over year, while property-related incidents have ticked up. This mixed trajectory underscores the value of routine risk management and resident engagement to support leasing stability and reputation.
Regional employment within commuting reach includes defense and aerospace offices that broaden the renter base and can support retention for workforce tenants.
- Raytheon Company defense & aerospace offices (43.4 miles)
Built in 1985, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older properties while still leaving room for targeted modernization to enhance leasing velocity. The neighborhood exhibits a high renter concentration, and within a 3-mile radius, steady population growth with a forecast increase in households suggests a gradually expanding tenant base that can support occupancy over time.
Operating fundamentals require disciplined execution: neighborhood occupancy sits below metro norms, so emphasis on turn quality, amenity activation, and unit upgrades can drive differentiation. According to CRE market data from WDSuite, local affordability is manageable in rent-to-income terms, which supports retention, while comparatively accessible ownership options in this part of the metro may temper pricing powermaking value-focused renovations and service levels a pragmatic path to NOI durability.
- 1985 vintage offers relative competitiveness vs. older stock, with selective upgrades to strengthen positioning.
- High renter-occupied share supports depth of tenant demand and renewal potential.
- 3-mile household growth and smaller household sizes point to renter pool expansion and steady leasing prospects.
- Risk: neighborhood occupancy is below metro norms; execution on leasing, amenities, and value-add is critical to performance.