| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 51st | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1802 Elm St, Henderson, TX, 75652, US |
| Region / Metro | Henderson |
| Year of Construction | 1984 |
| Units | 56 |
| Transaction Date | 2017-08-28 |
| Transaction Price | $3,182,190 |
| Buyer | Spring Creek - Elm Street LLC |
| Seller | Texas Farms and Ranches LLC, Private Investor, Texas Farms and Ranches, Price/unit and /sf |
1802 Elm St, Henderson TX Multifamily Investment
Stabilized renter demand in the surrounding neighborhood and practical unit sizes position this 56-unit, 1984-vintage asset for steady performance, according to WDSuite’s CRE market data. Neighborhood occupancy figures reflect local conditions rather than the property itself and suggest a manageable leasing environment.
The property sits in a B+ rated neighborhood within the Longview, TX metro that is competitive among 130 metro neighborhoods. Neighborhood occupancy is above the metro median, indicating relatively steady absorption and a tenant base that supports day-to-day leasing, per commercial real estate analysis from WDSuite.
Renter concentration in the neighborhood is above the metro median, which points to a meaningful base of renter-occupied housing units and supports multifamily demand depth. Within a 3-mile radius, demographics show recent softness but are projected to expand materially over the next several years, signaling a larger tenant pool and potential support for occupancy stability.
Amenities are sparse at the block level (limited groceries, parks, and pharmacies nearby), and restaurants are present but not dense. Investors should underwrite car-oriented living and weigh this against Henderson’s small-city convenience and the property’s average unit size of about 880 square feet, which can appeal to households seeking practical space.
Ownership costs in the area sit below national benchmarks, which can introduce competition from for-sale options; however, rent-to-income metrics in the neighborhood indicate moderate affordability pressure that can aid lease retention and limit turnover risk. Average school ratings in the area trend below the national midpoint; this may modestly influence family renter demand but is typical for many rural-adjacent Texas neighborhoods.
Neighborhood-level crime data is not available in this dataset for precise benchmarking. Investors typically compare neighborhood trends against metro and national references and supplement with public sources and property-level history when assessing risk. Given limited direct readings here, a conservative underwriting approach that includes insurance, security lighting, and resident engagement policies is prudent.
- Sysco — foodservice distribution (19.8 miles)
Nearby employment is anchored by regional distribution and services, supporting workforce housing and commute convenience for residents.
Built in 1984, the asset offers a mid-’80s vintage with potential to capture value through targeted renovations and systems updates while remaining competitive against older neighborhood stock. Neighborhood occupancy trends are above the metro median, and the 3-mile radius is projected to see meaningful growth in households, which supports a larger tenant base and steadier lease-up over time. According to CRE market data from WDSuite, rent levels relative to incomes suggest manageable affordability pressure that can aid retention.
Key considerations include car-oriented living due to sparse nearby amenities and school ratings below national midpoints, which may temper some family-driven demand. Even so, a renter-occupied housing base above the metro median and practical unit sizes provide a foundation for consistent operations, with upside from focused interior upgrades and common-area improvements.
- Neighborhood occupancy above metro median supports leasing stability
- 1984 vintage offers renovation and value-add potential relative to older stock
- 3-mile radius projected household growth expands the renter pool over time
- Rent-to-income dynamics indicate moderate pressure, aiding retention
- Risks: limited nearby amenities and below-midpoint school ratings may dampen some demand segments