| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 48th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 Commerce St, Azle, TX, 76020, US |
| Region / Metro | Azle |
| Year of Construction | 1985 |
| Units | 64 |
| Transaction Date | 2017-09-26 |
| Transaction Price | $4,400,000 |
| Buyer | TFG Crestwood LLC |
| Seller | Crestwood apartment Homes LLC |
525 Commerce St, Azle, TX — 64-Unit Value-Add Multifamily
Neighborhood fundamentals point to steady renter demand and competitive positioning within the Fort Worth metro, according to WDSuite’s CRE market data, with occupancy measured at the neighborhood level and supported by suburban amenities.
Set within the Fort Worth-Arlington-Grapevine, TX metro, the surrounding neighborhood is rated B+ and ranks 151 out of 561 metro neighborhoods, which is competitive among Fort Worth-Arlington-Grapevine neighborhoods. Local occupancy is measured at the neighborhood level and sits near national norms, suggesting generally stable leasing conditions rather than late-cycle volatility.
Amenity access supports suburban livability: grocery and pharmacy availability sit in the top quartile nationally, with park access also testing above average. Restaurant density trends above national averages, while café density is limited, consistent with a low-intensity suburban node.
Rent positioning is strong for the area: neighborhood asking rents benchmark in the top quartile nationally, while the rent-to-income ratio sits in the very high national percentile, indicating manageable rent levels relative to local incomes—often supportive of retention and measured pricing power for operators.
Construction patterns skew newer locally (average vintage 1994). With a 1985 build, this asset is older than the neighborhood norm—an indicator of potential value-add through unit/interior modernization and systems upgrades to maintain competitive standing against younger stock.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, pointing to a larger tenant base over time. Renter-occupied share in the 3-mile radius is currently about one-quarter of housing units and is forecast to move toward roughly one-third, which would deepen the renter pool and help support occupancy stability.
School outcomes average near national medians in this area, which may be neutral for leasing but should be weighed alongside the strong suburban amenity mix and household income trends.
Safety indicators for the neighborhood compare favorably at a national level, with violent offense metrics in the upper deciles and property offenses also reading stronger than national norms. However, recent year-over-year data show a short-term uptick in property incidents, so investors may wish to monitor local trends and incorporate prudent security and lighting plans in underwriting.
Within the Fort Worth-Arlington-Grapevine, TX metro (561 neighborhoods), the area sits above the metro average on several safety measures while recent property-crime momentum presents a mixed near-term signal. The net takeaway is a comparatively strong baseline with a watchlist item on property offense trends.
Proximity to a diversified employer base supports workforce housing demand and commute convenience, led by corporate offices in manufacturing, homebuilding, gaming retail, healthcare devices, and airlines that can reinforce leasing stability.
- Parker Hannifin Corporation — corporate offices (13.1 miles)
- D.R. Horton — corporate offices (16.2 miles) — HQ
- Ball Metal Beverage Packaging — corporate offices (22.3 miles)
- Gamestop — corporate offices (26.6 miles) — HQ
- Stryker — corporate offices (29.1 miles)
- American Airlines Group — corporate offices (29.3 miles) — HQ
This 64-unit, 1985-vintage asset offers a clear value-add path in a suburban neighborhood that is competitive within the Fort Worth metro. Neighborhood occupancy trends sit around national norms, while rent positioning and a high national percentile rent-to-income ratio suggest room for disciplined revenue management without overextending affordability. Within a 3-mile radius, population and household growth—paired with a rising share of renter-occupied housing units—points to a gradually expanding tenant base that can support steady leasing.
Given the submarket’s top-quartile national standing for grocery, pharmacy, and park access, the location’s livability can aid retention. The 1985 construction implies targeted capital planning for interiors and building systems to compete against the area’s newer average vintage, with potential to capture upside from modernization. According to CRE market data from WDSuite, these dynamics align with stable neighborhood operations and measured rent growth potential while acknowledging mixed but monitorable property-crime momentum.
- Competitive neighborhood rank within the Fort Worth metro supports demand and leasing stability.
- Value-add opportunity: 1985 build versus a locally newer stock profile enables interior and systems upgrades.
- Rent-to-income positioning in a high national percentile aids retention and measured pricing power.
- 3-mile radius growth in population, households, and renter-occupied share expands the tenant base over time.
- Risk: recent uptick in neighborhood property offenses warrants monitoring and proactive security planning.