| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 39th | Fair |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4900 Joe Ramsey Blvd E, Greenville, TX, 75401, US |
| Region / Metro | Greenville |
| Year of Construction | 1985 |
| Units | 112 |
| Transaction Date | 2024-12-23 |
| Transaction Price | $18,612,020 |
| Buyer | 160 JOE RAMSEY LLC |
| Seller | SWFS 488 LLC |
4900 Joe Ramsey Blvd E Greenville Multifamily Investment
Renter concentration in the surrounding neighborhood supports demand stability while local occupancy trends point to selective lease-up execution, according to WDSuite’s CRE market data. This commercial real estate analysis highlights location fundamentals and value-add potential for a 1985-built, mid-size asset.
Positioned in Greenville within the Dallas–Plano–Irving metro, the neighborhood carries a B- rating and functions as an Inner Suburb, providing everyday convenience rather than urban density. Amenity access trends above the metro median (ranked 325 among 1,108 metro neighborhoods), with groceries, pharmacies, parks, and restaurants scoring in nationally strong percentiles, while cafés and childcare are relatively sparse. For investors, this mix supports daily needs for residents and helps with retention even without a high-amenity streetscape.
Neighborhood rents sit near the national middle, which can aid leasing while keeping affordability in view for revenue management. The share of housing units that are renter-occupied is high for the metro (near 60%), signaling a deep tenant base and durable multifamily demand. Home values are lower relative to national norms, which can create some competition from entry-level ownership; lease strategies and finishes that emphasize convenience and professional management can help maintain pricing power.
Demographic statistics aggregated within a 3-mile radius show households have ticked up 3.2% over the past five years even as population edged down, pointing to smaller household sizes and steady rental need. Forward-looking data indicates a potential inflection: population is projected to grow 12.3% and households 33.0% by 2028, expanding the renter pool and supporting occupancy stability. Median incomes have also climbed and are projected to rise further, which supports rent growth headroom if unit quality is competitive.
Vintage context matters: the neighborhood’s average construction year trends newer than the property. That gap underscores value-add and capital planning opportunities to meet the expectations of a renter-heavy area while competing effectively with 1990s and 2000s stock.
Safety indicators are mixed and should be framed comparatively rather than block-level. Property offenses trend slightly safer than the national middle by percentile, while violent offense levels sit below the national middle, indicating more caution for late-hour operations and site lighting. Year over year, both violent and property offense rates show meaningful declines, which is a constructive directional trend for resident sentiment and leasing.
Within the Dallas–Plano–Irving region, patterns vary by neighborhood; investors should underwrite with standard measures such as lighting, access control, and visibility, and monitor continued trend improvement as part of ongoing asset management. Percentiles referenced compare neighborhoods nationwide, based on CRE market data from WDSuite.
The broader employment base includes nearby homebuilding, defense/aerospace, telecom/data infrastructure, and electronics distribution nodes that help underpin renter demand through commute access to regional job corridors. The employers below represent key drivers of nearby white- and blue-collar employment that can support leasing and retention.
- D.R. Horton, America's Builder — homebuilding (29.7 miles)
- Raytheon Company — defense & aerospace offices (30.8 miles)
- AT&T Datacenter — telecom & data center (32.2 miles)
- Avnet Electronics — electronics distribution (32.5 miles)
- General Dynamics — defense (34.9 miles)
This 112-unit property built in 1985 offers scale with average unit sizes around 608 square feet, positioned in an Inner Suburb setting where renter concentration is high and daily-needs retail is accessible. According to CRE market data from WDSuite, neighborhood rents trend near the national middle and the renter-occupied share is elevated, suggesting depth of tenant demand. The property’s older vintage relative to neighborhood norms highlights clear value-add potential and the need for targeted capital planning to compete against newer stock.
Market context is constructive yet nuanced: a 3-mile radius shows recent household growth despite a modest population dip, and projections point to a larger tenant base by 2028 with rising incomes that can support measured rent increases. Lower home values relative to national benchmarks may introduce some competition from ownership, but a professionalized rental experience and convenience positioning can sustain occupancy and reduce turnover risk if amenities and finishes are kept competitive.
- High renter concentration supports demand depth and leasing stability.
- 1985 vintage creates tangible value-add and modernization upside.
- Daily-needs amenities nearby aid retention; rents near national middle help leasing.
- 3-mile forecasts show population and household growth, expanding the tenant base.
- Risk: accessible ownership options and mixed safety percentiles warrant competitive finishes, security, and prudent underwriting.