| 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 | 121 |
| Transaction Date | 2006-10-09 |
| Transaction Price | $100,000 |
| Buyer | HAWLEY CALEB M |
| Seller | HAWLEY GARY |
202 Thigpen Dr, Tyler TX Multifamily Investment
Neighborhood renter concentration is elevated and ownership costs are high for the metro, supporting steady tenant demand, according to WDSuite’s CRE market data.
Located in Tyler’s inner-suburb fabric, the property sits in a neighborhood rated A+ and ranked 3rd among 78 metro neighborhoods, signaling durable location fundamentals for workforce and professional renters. Neighborhood occupancy is moderate, which suggests room for asset-level operational execution to drive stability relative to peers.
Daily-needs access is a local strength: restaurant and cafe density ranks 10th and 6th of 78 in the metro, respectively, with cafes sitting in the top quartile nationally. Grocery and pharmacy access are also competitive (12th and 11th of 78). Parks and childcare options are thinner within the immediate area, which may modestly limit family-oriented appeal, but the broader amenity mix supports everyday convenience.
Within a 3-mile radius, recent population and household growth have been positive, and forecasts point to further expansion in both population and households over the next five years—an indicator of a larger tenant base and support for occupancy. Median household income in the 3-mile area has risen meaningfully over the past five years, while median contract rents have climbed as well; together this supports manageable rent-to-income levels and lease retention. This perspective is grounded in commercial real estate analysis augmented by WDSuite’s market dataset.
Ownership is a high-cost proposition in the neighborhood relative to incomes (value-to-income ratio ranks 3rd of 78 and is in a high national percentile), which tends to reinforce reliance on rental housing and can underpin pricing power for well-positioned multifamily assets. At the same time, the average construction year in the neighborhood is 2000; with the subject built in 1977, competitive positioning may benefit from targeted renovations or systems upgrades to meet contemporary renter expectations.
Safety conditions benchmark near the metro middle based on neighborhood ranking (35th of 78), and the area sits below the national median for safety. Property-related incidents have eased year over year, indicating incremental improvement, while violent-offense trends have been relatively stable. Investors should evaluate site-specific security, lighting, and management practices to support resident confidence and retention.
- Sysco — foodservice distribution (36.2 miles)
The asset’s inner-suburb location scores highly within the Tyler metro (3rd of 78 neighborhoods, A+), with strong access to dining, cafes, groceries, and pharmacies that supports daily convenience for renters. Within 3 miles, rising incomes and expanding population and household counts point to renter pool expansion and support for occupancy stability. According to CRE market data from WDSuite, neighborhood renter concentration is high, and home values are elevated versus incomes—conditions that typically sustain multifamily demand and lease retention for well-operated properties.
Built in 1977, the property is older than nearby product (average neighborhood vintage is 2000). This creates clear value-add and capital planning angles—modernizations and system upgrades can improve competitive positioning versus newer stock. Balanced against these positives, neighborhood safety benchmarks near metro average and parks/childcare access is thinner, so underwriting should incorporate prudent security, amenity programming, and marketing to core renter segments.
- High-performing inner-suburb location with top-3 metro neighborhood ranking supports long-term renter demand
- 3-mile population and household growth expand the tenant base and support occupancy stability
- Elevated ownership costs relative to incomes reinforce reliance on rental housing and pricing power
- 1977 vintage provides value-add potential via renovations and system upgrades
- Risks: safety near metro average and limited parks/childcare access warrant security focus and targeted amenity strategy