| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 50th | Fair |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 N Midland Dr, Midland, TX, 79707, US |
| Region / Metro | Midland |
| Year of Construction | 1977 |
| Units | 117 |
| Transaction Date | 2014-08-18 |
| Transaction Price | $8,937,500 |
| Buyer | THE GARDENS EQUITY FUND LLC |
| Seller | MULDROW AND FOLGER PROPERTIES INC |
2700 N Midland Dr Midland Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy, according to WDSuite s CRE market data. Operations can prioritize resident retention while monitoring amenity depth and mid-pack safety at the neighborhood level.
Positioned in Midland s inner suburb, the asset is supported by a durable workforce tenant base and household incomes that are solid for the metro. Neighborhood occupancy is 97.1% and competitive among Midland neighborhoods, with the broader neighborhood rating ranked 28 of 47, based on CRE market data from WDSuite.
Renter-occupied housing accounts for roughly half of neighborhood units, indicating depth for multifamily leasing and renewal activity. Neighborhood rents sit in the upper half locally and above the national midpoint, with measured five-year gains and modest growth projected, which supports a retention-first revenue strategy rather than outsized mark-to-market assumptions.
Livability signals are mixed: the area shows comparatively strong restaurant density for the metro (around the 70th percentile nationally), while immediate access to everyday services such as groceries, pharmacies, parks, and childcare is thinner within the neighborhood footprint. For investors, this concentrates demand around well-managed properties near key corridors and increases the value of on-site conveniences and responsive management.
Schools average about 3 out of 5 (above the national midpoint and strong for the metro by rank), which can support leasing to family households. Median home values are elevated for the region but moderate nationally; this ownership cost context tends to sustain reliance on rental housing, supporting occupancy stability and lease retention for well-run assets.
Within a 3-mile radius, population has been roughly flat over the past five years while household counts have increased, indicating smaller household sizes and a gradual expansion of the renter pool. Forward-looking estimates point to additional household growth, supporting a larger tenant base and aiding occupancy resilience in this submarket.
Safety conditions track around the national midpoint and sit near the middle of Midland s 47 neighborhoods. Recent directionality is constructive, with year-over-year declines in violent incidents and a slight dip in property offenses, according to WDSuite s CRE market data. Prudent monitoring remains appropriate, but the pattern is consistent with metro-wide stabilization rather than an outlier.
This 117-unit asset offers a straightforward, operations-led thesis in a submarket with stable neighborhood occupancy and rent levels above the national midpoint. According to CRE market data from WDSuite, occupancy at 97.1% sits above the metro median, supporting cash flow durability and a leasing strategy centered on renewal and service quality.
Within 3 miles, rising household counts alongside stable population suggest smaller household sizes and a gradually expanding renter pool. Combined with a renter-occupied share near half of neighborhood units and moderate ownership costs in a national context, the area supports consistent multifamily demand. Key watch items include thinner neighborhood amenities and mid-pack safety, placing a premium on on-site services and responsive management.
- Above-median neighborhood occupancy underpins leasing stability and retention
- Renter concentration near half of units supports depth of tenant demand
- Rents above national midpoint with measured growth favor retention-first revenue management
- Household growth within 3 miles expands the local renter base over time
- Risks: thinner neighborhood amenities and mid-pack safety require strong on-site services