| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 70th | Best |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 202 Thigpen Dr, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1977 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
202 Thigpen Dr, Tyler TX Multifamily Value-Add Opportunity
Neighborhood fundamentals point to a deep renter pool and resilient demand, according to WDSuite’s CRE market data, while elevated ownership costs in the area support lease retention and pricing power. Near-term capex and repositioning can enhance competitiveness and occupancy stability.
This Inner Suburb location ranks among the top quartile of Tyler’s 78 neighborhoods (A+ neighborhood rating), signaling strong local dynamics for multifamily. Dining and daily-needs access are competitive among metro peers, with restaurant and cafe density outperforming many Tyler submarkets, while park access and childcare options are thinner and should be considered in marketing and amenity strategy.
The property’s 1977 construction is older than the neighborhood average vintage (2000 across Tyler neighborhoods). For investors, this typically implies a defined value‑add path and capital planning to modernize interiors, systems, and common areas to better compete against newer stock.
Neighborhood occupancy is measured for the surrounding area and currently trails national medians, but the renter-occupied share of housing units is high compared with neighborhoods nationwide (85th percentile), indicating a sizable tenant base that supports leasing velocity and renewal depth. Median contract rents sit mid-pack for the U.S., and a rent-to-income ratio around 0.22 suggests manageable affordability pressure that can aid retention with disciplined lease management.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing through the forecast period, pointing to a larger tenant base over time. Household incomes in the radius are rising, and elevated home values relative to incomes (high national percentile for value-to-income) characterize a high-cost ownership market, which tends to reinforce renter reliance on multifamily housing and support occupancy stability.
Safety conditions in this neighborhood are mixed relative to national norms, with overall crime levels around the lower half of neighborhoods nationwide. Recent trends are constructive: estimated property offenses declined year over year, and violent-offense rates were broadly stable. For underwriting, this suggests steady conditions with some improvement, though investors should benchmark against comparable Tyler submarkets.
Regional employers contribute to a diversified labor base that supports renter demand and commute convenience. Notable nearby corporate presence includes:
- Sysco — foodservice distribution (36.1 miles)
202 Thigpen Dr offers scale at 120 units with a 1977 vintage that is positioned for value-add. The surrounding Tyler neighborhood ranks near the top of the metro’s 78 neighborhoods, with strong amenity access and a renter-occupied housing share that is high nationally—favorable for tenant depth and leasing stability. While neighborhood occupancy runs below national medians, ownership costs are elevated relative to incomes, which tends to sustain multifamily demand and support retention as units are upgraded.
According to CRE market data from WDSuite, local rents sit mid-range nationally and rent-to-income levels indicate manageable affordability pressure, creating room for measured renovation-driven revenue gains. Demographic growth within a 3-mile radius—both historical and forecast—points to a larger renter pool over the next several years, aligning with a value-add plan focused on interiors, curb appeal, and amenity refreshes.
- Value-add potential: 1977 vintage with clear modernization and repositioning upside versus newer neighborhood stock.
- Demand depth: High renter-occupied share in the neighborhood supports tenant base and leasing velocity.
- Macro tailwinds: 3-mile radius growth and mid-range rents aid occupancy stability and measured rent lifts.
- Risk: Neighborhood occupancy trails national medians, and limited nearby parks/childcare may require stronger on-site amenity programming and targeted marketing.