| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 43rd | Fair |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 McMillain St, Joshua, TX, 76058, US |
| Region / Metro | Joshua |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
405 McMillain St Joshua Multifamily Investment
Neighborhood occupancy is in the high-90s, supporting steady cash flow potential according to WDSuites CRE market data. With modest rents relative to incomes, this location emphasizes tenant retention over rapid lease-up risk.
Joshua sits within the Fort Worth–Arlington–Grapevine metro and scores a C+ neighborhood rating, reflecting stable fundamentals with a largely rural character. The area shows high neighborhood occupancy and steady renter demand, while amenity density is limited compared with urban submarkets.
Occupancy in the neighborhood ranks in the top quartile among 561 metro neighborhoods and is in a high national percentile, indicating durable leasing conditions. Median contract rents in the neighborhood are near national midpoints, which helps sustain demand without overextending renters, and supports ongoing renewal rates rather than aggressive turnover. Median school ratings are strong (top quartile nationally), a factor that can enhance family-oriented renter appeal and length of stay.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, pointing to a larger tenant base and support for occupancy stability. Renter-occupied share within this radius is around one-third, offering depth for multifamily leasing while still competing with ownership options common in peripheral DFW markets.
Amenity access is limited locally (few cafés, childcare, parks, and pharmacies per square mile), so residents typically rely on regional corridors for goods and services. Home values in the neighborhood are mid-market for the region, which can temper rent spikes but still reinforce multifamily relevance where ownership requires larger upfront costs. The average neighborhood construction year skews newer (2001), suggesting that a 1973 asset may compete against more modern stock and could benefit from targeted upgrades to remain competitive.
Comparable, property-level safety data are not available in WDSuite for this neighborhood at the time of publication. Investors typically benchmark conditions using city and county resources and observe leasing trends, renewals, and management practices as practical indicators of resident safety perception.
Regional employment drivers within commuting distance support workforce housing demand, led by manufacturing, homebuilding, diversified industrial, airlines, and pharmacy benefit management offices.
- Ball Metal Beverage Packaging — manufacturing (13.8 miles)
- D.R. Horton — homebuilding (20.9 miles) — HQ
- Parker Hannifin Corporation — diversified industrial (21.1 miles)
- American Airlines Group — airlines (32.0 miles) — HQ
- Express Scripts — pharmacy benefit management (32.2 miles)
Built in 1973 with 28 units, the property is older than the neighborhoods average construction year. That positioning can support a straightforward value-add plan focused on interior refreshes and system upgrades to improve competitive standing against 2000s-era stock while preserving a rent advantage that supports retention. According to CRE market data from WDSuite, neighborhood occupancy trends are strong versus metro peers, and recent 3-mile population and household growth expands the local renter pool, supporting leasing stability.
Rents track near national midpoints while local ownership costs remain mid-market for the region, creating a practical niche for renters seeking more accessible monthly housing costs. Amenity density is modest, so resident appeal hinges on functional housing, school quality, and commute access to regional employment clusters rather than walkable retail. Execution should balance rent growth with affordability to maintain renewal velocity.
- High-occupancy neighborhood relative to metro peers supports stable leasing
- 1973 vintage offers value-add and systems modernization upside versus newer stock
- 3-mile population and household growth point to a larger tenant base
- Mid-market rents and ownership costs favor retention-focused pricing strategies
- Risks: amenity-scarce, car-reliant setting and competition from newer assets/ownership options