| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 15th | Poor |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 N Broadway Ave, Tyler, TX, 75702, US |
| Region / Metro | Tyler |
| Year of Construction | 1974 |
| Units | 101 |
| Transaction Date | 2022-04-14 |
| Transaction Price | $17,955,000 |
| Buyer | LIBERTY ARMS HOUSING PARTNERS LP |
| Seller | ACOG LP |
2601 N Broadway Ave Tyler 101-Unit Multifamily
Steady renter demand at the neighborhood level and accessible rents point to defensible occupancy, according to WDSuite's commercial real estate analysis. Focus is on cash flow management and value-add execution rather than outsized growth assumptions.
This Inner Suburb pocket of Tyler shows practical livability for workforce renters. Neighborhood parks are a relative strength (competitive among Tyler neighborhoods, rank 6 of 78; top quartile nationally by park density), and dining options are reasonable for the metro (restaurants competitive at rank 20 of 78). Everyday retail is thinner nearby (grocery, pharmacy, and cafes rank near the bottom locally), which can influence resident convenience and should be considered in leasing narratives and amenity programming.
Rents in the neighborhood sit on the lower end locally and nationally, and the rent-to-income ratio indicates manageable affordability pressure, supporting resident retention. The share of renter-occupied housing is relatively high for the metro (rank 13 of 78; above the national median in percentile terms), which signals a deeper tenant base for multifamily. Neighborhood occupancy is softer (rank 45 of 78), so operations should emphasize leasing efficiency and renewals to stabilize.
Within a 3-mile radius, the population has grown in recent years and household counts have increased, expanding the local renter pool. Forecasts point to further increases in households by 2028, which can support absorption and occupancy stability, based on CRE market data from WDSuite. Median household incomes are rising in the 3-mile area, which can help sustain rent levels even as pricing remains value-oriented.
The property's 1974 vintage is slightly newer than the neighborhood average stock (early 1970s), offering a competitive footing versus older buildings. However, systems are still decades old, so a targeted renovation and capital plan can capture value-add upside and support rent trade-outs while keeping unit finishes aligned with local affordability.
Local school ratings trend below metro and national norms, which may matter for family renters; operators can counterbalance with on-site features and resident services. Home values in the neighborhood are comparatively low versus national norms, which can create some competition from ownership; even so, lower monthly rents and a sizable renter-occupied share support multifamily demand depth and lease retention.
Safety conditions are mixed in this Tyler neighborhood. Relative to the metro, the neighborhood's crime rank sits in the less favorable half (rank 23 of 78 indicates comparatively higher reported crime locally), while nationally it is around the middle of the pack (roughly mid-50s percentile for safety). Investors should underwrite prudent security measures and community management to support retention.
Encouragingly, recent trend data show meaningful improvement: estimated property offenses fell sharply year over year (top decile improvement locally), and violent offense rates also declined materially. While conditions can vary by block and over time, these downward trends provide a constructive backdrop for asset operations, based on WDSuite's CRE market data.
Regional employment is diversified, with access to distribution and services that support workforce renter demand. Nearby logistics/distribution presence provides stable hourly and salaried jobs relevant to leasing.
- Sysco — foodservice distribution (34.3 miles)
This 101-unit property offers a value-oriented play in a workforce renter location. Neighborhood rents are low relative to national norms, the renter-occupied share is above the metro median, and household growth within a 3-mile radius expands the tenant base. According to CRE market data from WDSuite, neighborhood occupancy is softer, so the thesis centers on operational execution, pragmatic renovations, and retention to drive steady cash flow rather than outsized rent growth.
Built in 1974, the asset is slightly newer than much of the surrounding stock, creating a competitive starting point versus older properties. A focused capital plan on interiors, common areas, and aging systems can unlock value-add upside while preserving affordability to support leasing velocity and renewals.
- Value-oriented rents support retention and steady occupancy
- Renter-occupied share above metro median signals deeper tenant base
- 1974 vintage offers clear renovation and systems-upgrade pathways
- 3-mile household growth underpins near-term leasing and absorption
- Risks: softer neighborhood occupancy and below-average school ratings require strong operations