| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 68th | Best |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2713 S Broadway Ave, Tyler, TX, 75701, US |
| Region / Metro | Tyler |
| Year of Construction | 1972 |
| Units | 88 |
| Transaction Date | 2017-01-17 |
| Transaction Price | $5,250,000 |
| Buyer | Ridge Cap Venture Group LLC |
| Seller | The Lodge Venture Group Tyler, LP |
2713 S Broadway Ave Tyler Multifamily Value‑Add Opportunity
Neighborhood occupancy sits around the metro middle and a moderate renter base supports steady leasing, according to WDSuite’s CRE market data.
Positioned along S Broadway Ave in Tyler, this suburban A‑rated neighborhood (12th of 78 metro neighborhoods) offers livability that matters for multifamily: strong schools, access to parks, and everyday services that support retention. Average school ratings are high for the metro and land in the top quartile nationally, which can help sustain family‑oriented demand and longer tenures.
Local amenities skew practical rather than trendy. Park and pharmacy access rank near the top of the metro, while cafes and groceries are thinner within close reach. For investors, that mix supports day‑to‑day convenience even if lifestyle offerings are less concentrated than urban cores.
Rents in the neighborhood track near the metro median with multi‑year growth, and neighborhood occupancy of 90.6% indicates balanced conditions rather than extreme tightness. The renter‑occupied share of housing units is moderate, providing a meaningful tenant base without over‑reliance on transient demand. Home values are lower versus national medians, which can introduce some competition from ownership, but it also tempers volatility and can support lease retention.
Within a 3‑mile radius, recent population growth has been modest while household size edged up, pointing to stable demand rather than rapid churn. Forward‑looking data indicates meaningful population and household increases over the next five years, expanding the renter pool and supporting occupancy stability. These dynamics are consistent with Tyler’s suburban neighborhoods that are above the metro median on demographics and competitive on amenities, based on commercial real estate analysis from WDSuite.
Safety trends are mixed but improving. Overall crime levels are around the national median, and the neighborhood is competitive among the 78 Tyler neighborhoods on property‑related incidents. Importantly, both property and violent offense rates show year‑over‑year improvement, with declines that outpace many areas in the region according to WDSuite’s CRE market data.
For investors, the trajectory matters: recent downward movement in estimated offenses supports a more stable operating outlook, though prudent security, lighting, and resident‑engagement measures remain advisable given the area’s suburban arterial setting.
- Sysco — foodservice distribution (34.9 miles)
Regional employment is diversified across distribution and services, supporting workforce housing demand; nearby logistics employers contribute to commute convenience.
Built in 1972, the property is older than the neighborhood average vintage, creating clear value‑add angles through interior upgrades and systems modernization while targeting operational efficiencies. Neighborhood occupancy near the metro middle, moderate renter concentration, and high‑rated schools point to durable demand and stable leasing. According to CRE market data from WDSuite, rent levels sit near metro norms with demonstrated multi‑year growth, suggesting room for disciplined repositioning without overreliance on aggressive pricing.
Within a 3‑mile radius, population has been steady and is projected to increase alongside a material rise in households, expanding the tenant base and supporting retention. Ownership costs are relatively accessible versus national medians, so thoughtful amenity and finish upgrades may be important to maintain competitiveness and capture renewals.
- 1972 vintage offers value‑add and capex planning opportunities to elevate rents and reduce frictional vacancy
- Neighborhood occupancy around metro median with moderate renter‑occupied share supports steady leasing
- Strong school ratings and practical amenities (parks, pharmacies) aid family‑oriented retention
- 3‑mile population and household growth outlook expands the renter pool and underpins stabilization
- Risks: aging systems and lighter lifestyle retail nearby may require targeted upgrades and active leasing strategy