| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 70th | Best |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1505 W Grande Blvd, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1998 |
| Units | 108 |
| Transaction Date | 2008-01-11 |
| Transaction Price | $16,875,000 |
| Buyer | GH ESTATES LTD |
| Seller | MNH LLC |
1505 W Grande Blvd, Tyler TX Multifamily Opportunity
Situated in an inner-suburban pocket with strong dining and grocery access, this submarket shows steady renter demand and a deep tenant base according to WDSuites CRE market data. Neighborhood occupancy reflects broader Tyler dynamics, while the areas renter concentration and population growth support long-run leasing stability.
The property sits in an Inner Suburb location ranked 7th of 78 Tyler neighborhoods overall (A neighborhood rating), indicating competitive fundamentals within the metro. Dining density is a clear strength: restaurants rank 2nd of 78 in the metro and sit in the 92nd percentile nationally, with cafes 3rd of 78 and in the 91st percentile. Grocery access is also favorable (7th of 78; 78th percentile nationally), supporting everyday convenience that typically aids renter retention.
Neighborhood occupancy is measured for the neighborhood, not the property, and trends below national norms (ranked 55th of 78; low national percentile). Counterbalancing this, renter-occupied share is high for the metro (54.4% renter concentration; 4th of 78; 91st percentile nationally), pointing to a deep tenant pool for multifamily assets and potential resilience through cycles.
Within a 3-mile radius, recent population and household growth have expanded the renter pool, and WDSuites forward view indicates further increases in both households and incomes. These shifts, paired with a median rent-to-income profile around 0.20 in the neighborhood, suggest manageable affordability pressure and support for lease retention and pricing discipline for well-positioned product.
Vintage nearby skews around the year 2000 (22nd of 78 metro neighborhoods by average construction year). At 1998, this asset is slightly older than surrounding stock, which can present value-add potential through targeted renovations and systems updates to maintain competitive positioning against newer comparables.
Safety indicators trend mixed when comparing metro versus national context. The neighborhoods overall crime profile ranks 12th of 78 within Tyler, a placement that indicates comparatively higher incident levels versus many local peers; however, it sits around the 63rd percentile nationally, suggesting above-median safety relative to neighborhoods across the U.S.
Trend signals have moved in a favorable direction: estimated violent offense rates declined sharply year over year (90th percentile nationally for improvement), and property offense showed a material decrease as well (62nd percentile nationally for improvement). These are neighborhood-level measures and should be viewed alongside property-specific controls and management practices.
Regional employment access is diversified, and proximity to large corporate operations supports a broad commuter tenant base. The list below highlights a representative nearby employer relevant to workforce housing demand.
- Sysco corporate offices (36.9 miles)
This 108-unit, 1998-vintage asset benefits from a high renter concentration in the surrounding neighborhood and strong daily-needs access, while nearby dining density ranks at the top of the metro. According to CRE market data from WDSuite, neighborhood occupancy runs below national norms, but a growing 3-mile population and rising household incomes expand the tenant base and support long-run demand. The assets slightly older vintage versus local averages points to value-add potential through selective renovations to reinforce competitiveness.
Investor takeaways hinge on the areas commuter convenience, deep renter pool, and improving neighborhood safety trends. Balanced affordability metrics and forward household growth support steady leasing, with underwriting attention warranted for neighborhood-level occupancy variability and continued capital planning for modernization.
- Strong renter concentration and daily-needs retail underpin tenant demand
- 1998 vintage offers value-add upside via targeted renovations
- 3-mile population and income growth support occupancy stability
- Neighborhood safety trends improving year over year
- Risks: metro-relative occupancy softness and ongoing CapEx for competitive positioning