| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 65th | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 322 Chimney Rock Dr, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2018-07-17 |
| Transaction Price | $153,600 |
| Buyer | FLETCHER ROYCE |
| Seller | HANEY DEBORAH VIRGINIA |
322 Chimney Rock Dr Tyler Multifamily Investment
Renter concentration in the surrounding neighborhood is elevated and supports a durable tenant base, while neighborhood occupancy trends warrant active leasing discipline, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Tyler, the property benefits from daily convenience: grocery availability ranks 1st among 78 Tyler neighborhoods and restaurant density is competitive locally and in the top quartile nationally. By contrast, cafes, parks, childcare, and pharmacies are limited within the immediate neighborhood, so residents typically rely on nearby corridors for those needs.
For investors, the neighborhood shows an above-average renter concentration (share of units that are renter-occupied), indicating depth in the tenant pool and potential leasing stability. Median asking rents in the neighborhood sit near the national midpoint, and value-to-income metrics suggest a relatively high-cost ownership market versus local incomes — dynamics that can sustain multifamily demand and support retention. Neighborhood occupancy is below the metro median, which points to the importance of proactive leasing and amenity positioning based on WDSuite’s commercial real estate analysis.
Demographic statistics aggregated within a 3-mile radius indicate recent population growth and a further increase in households over the next five years, expanding the renter pool and supporting occupancy stability. Income distributions have been shifting upward, which can aid renewal pricing where unit quality and management execution support it.
The asset was built in 1979, older than the neighborhood’s average vintage (1993). This positioning often creates value-add potential through targeted renovations and capital planning to modernize interiors and address systems, helping the property compete effectively against newer stock.
Safety indicators are comparatively favorable within the metro: the neighborhood ranks 17th out of 78 Tyler neighborhoods, placing it competitive locally. Nationally, overall safety sits modestly above the midpoint, while violent offense levels are closer to the national middle of the pack.
Recent trend data shows property offenses declining year over year, a constructive signal for residents and operators. As with any urban-adjacent area, outcomes vary block to block, so investors typically underwrite with neighborhood-level benchmarks and ongoing monitoring rather than point estimates.
This 24-unit, 1979-vintage asset in Tyler sits in a grocery- and restaurant-accessible neighborhood with a strong renter-occupied housing base. Household and population growth within a 3-mile radius point to a larger tenant base ahead, while a relatively high-cost ownership landscape versus local incomes can reinforce reliance on rentals. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median, suggesting that hands-on leasing and targeted upgrades are key to capture demand.
Given its older vintage relative to the neighborhood average, the property offers practical value-add angles — interior refreshes and selective system updates — to bolster competitiveness and support rent positioning. The combination of an expanding renter pool and thoughtful capital planning can help drive steady performance while acknowledging leasing execution risk.
- Established renter base supports demand depth and renewal potential
- Grocery and restaurant access enhances livability and tenant retention
- 1979 vintage creates value-add and capital planning opportunities
- Demographic growth within 3 miles expands the future renter pool
- Risk: neighborhood occupancy below metro median requires active leasing and amenity positioning