| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 12th | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3651 N Broadway Ave, Tyler, TX, 75702, US |
| Region / Metro | Tyler |
| Year of Construction | 2012 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3651 N Broadway Ave, Tyler TX Multifamily Investment
2012-vintage, 120-unit asset positioned for steady renter demand in a suburban Tyler pocket where neighborhood occupancy runs near the metro median, according to WDSuite’s CRE market data.
This suburban Tyler location offers day-to-day convenience anchored by groceries and parks, with grocery access ranking competitive among 78 Tyler neighborhoods and park access in the top quartile among the same set. Restaurant density is above the metro median, while cafes and pharmacies are limited, suggesting everyday needs are covered but with fewer boutique options nearby.
Rents in the neighborhood track below national norms, supporting retention and leasing velocity for workforce-oriented assets. The renter-occupied share at the neighborhood level is moderate, indicating a meaningful tenant base without overconcentration; within a 3-mile radius, demographics show a sizable and growing renter pool, which supports occupancy stability rather than rapid volatility.
Within a 3-mile radius, population has grown in recent years with households also expanding and forecast to continue rising, while average household size is expected to edge lower. For multifamily owners, that combination typically enlarges the tenant base and creates incremental demand for rental units, reinforcing leasing depth even if individual household compositions shift.
The property’s 2012 construction is newer than the neighborhood’s typical 1980s vintage, offering competitive positioning versus older stock. Investors can expect reduced near-term capital exposure compared with legacy assets, while still planning for systems updates and selective modernization over the hold to sustain rentability.
Home values in the immediate area trend on the lower end nationally, creating a more accessible ownership market. For multifamily, this can introduce some competition from entry-level ownership; however, it also supports durable workforce housing demand and lease retention when paired with appropriately managed rent-to-income levels.
Safety indicators for the neighborhood sit around the middle of the pack locally, with ranks that place it near the metro median among 78 Tyler neighborhoods and roughly midrange compared with neighborhoods nationwide. Recent trend data points to improvement, with both property and violent offense rates showing year-over-year declines, which is a constructive signal for long-term stability.
Investors should view safety as an evolving neighborhood attribute: current levels are not top-tier regionally, but the downward trend in incidents suggests gradual normalization. Positioning assets with good lighting, access control, and resident engagement typically aligns well with these improving dynamics.
Regional employment is diversified, with distribution and foodservice logistics contributing to workforce housing demand and commute-oriented leasing. Nearby, the following employer presence supports renter retention through steady jobs:
- Sysco — foodservice distribution (34.2 miles)
This 120-unit, 2012-built community benefits from a suburban Tyler location where neighborhood occupancy trends near the metro median and day-to-day amenities are accessible, particularly groceries and parks. Within a 3-mile radius, recent population and household growth, alongside forecasts for additional household expansion, point to a larger tenant base that supports leasing stability and retention. Based on CRE market data from WDSuite, local rents trail national averages, which can aid occupancy while allowing room for value-oriented repositioning over time.
The asset’s newer vintage relative to nearby 1980s-era stock enhances competitive standing and may reduce immediate capital intensity versus older peers, though investors should plan for routine systems updates to maintain performance. Key watch items include lower school ratings and a more accessible ownership market that can compete with rentals; thoughtful amenity programming and disciplined rent-to-income management can mitigate these risks while sustaining demand.
- 2012 vintage competes well against older neighborhood stock, with manageable near-term CapEx
- Growing 3-mile renter pool and household expansion support occupancy stability and leasing depth
- Rents below national norms aid retention and provide repositioning runway
- Grocery and park access are strengths; limited cafés/pharmacies can be addressed via property amenities
- Risks: lower local school ratings, accessible ownership alternatives, and mid-pack safety requiring active asset management