| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 49th | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 E Magnolia St, Troup, TX, 75789, US |
| Region / Metro | Troup |
| Year of Construction | 1973 |
| Units | 46 |
| Transaction Date | 2008-01-18 |
| Transaction Price | $975,000 |
| Buyer | GLADE INVESTMENTS INC |
| Seller | TRITEX REAL ESTATE ADVISORS II INC |
400 E Magnolia St Troup Value-Add Multifamily
Positioned in the Tyler, TX metro, this 46-unit 1973 asset offers durable workforce housing dynamics with improving neighborhood occupancy and room for operational upgrades, according to WDSuite’s CRE market data. Investor focus centers on renter demand supported by nearby household growth and relatively low rent-to-income pressure.
The property sits in a rural neighborhood within the Tyler, TX metro (neighborhood rating: B-), where daily conveniences are limited and residents rely on regional corridors for services and employment. Amenity access scores in the lower national percentiles, indicating sparse grocery, pharmacy, and park options locally; investors should underwrite resident commute patterns and on-site service offerings to bolster retention.
Schools test above the national average (approximately 70th percentile), a supportive factor for family renters. Neighborhood occupancy has trended upward over the last five years, though it remains below national norms; this trajectory suggests stabilizing demand, especially for well-managed properties with pragmatic finishes and responsive maintenance, based on CRE market data from WDSuite.
Renter-occupied housing accounts for roughly one-third of local units, placing the neighborhood above the national midpoint for renter concentration. That mix indicates a meaningful tenant base for multifamily operators and potential for steady leasing, provided unit finishes and pricing align with value-oriented expectations.
Within a 3-mile radius, recent years show population and household growth, pointing to a larger tenant base. Forward-looking data signal more households but smaller sizes, which can support multifamily demand through additional lease formations even if population growth moderates. Home values sit below large-metro levels, creating a relatively accessible ownership market; investors should consider some competitive pressure from entry-level ownership while leveraging more accessible rents to support lease retention and occupancy stability.
Vintage context: the neighborhood’s average construction year skews older. A 1973 asset competes favorably against pre-war stock while still benefiting from targeted renovations (systems modernization, unit refreshes, and curb appeal) to capture demand and sustain occupancy.
Comparable safety benchmarking for this specific neighborhood is not available in the dataset provided. Investors should review city and county crime trend resources to contextualize conditions against broader Tyler-area patterns and integrate that into leasing and onsite operations planning.
Prudent measures include lighting, access control, and community engagement, which can support resident satisfaction and retention regardless of broader regional trends.
- Sysco — foodservice distribution (30.6 miles)
Regional employment is anchored by distribution and corporate services accessible via Tyler-area corridors, supporting workforce housing demand and commute convenience for residents.
This 46-unit, 1973 multifamily asset in the Tyler, TX metro aligns with workforce housing demand drivers: a renter base above the national midpoint, upward-trending neighborhood occupancy, and a 3-mile trade area that has recently expanded in population and households. According to CRE market data from WDSuite, rents in the broader area remain comparatively accessible relative to incomes, supporting retention and occupancy management.
The vintage positions the property competitively versus older neighborhood stock while leaving room for value-add: systems updates, exterior improvements, and unit refreshes can enhance leasing velocity in a submarket with limited nearby amenities. Underwriting should balance this upside with measured assumptions around amenity scarcity and potential competition from entry-level ownership.
- Stabilizing demand: neighborhood occupancy has improved over five years, supporting better leasing prospects with disciplined operations.
- Workforce positioning: relatively low rent-to-income pressure aids tenant retention and pricing resiliency for right-sized upgrades.
- Value-add potential: 1973 vintage enables targeted renovations to outperform older local stock and sustain competitiveness.
- Risks: sparse local amenities and an accessible ownership market may temper rent growth; plan for service-forward management and prudent capex.