| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 70th | Best |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Thigpen Dr, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1979 |
| Units | 71 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 Thigpen Dr, Tyler TX Multifamily Investment
Stabilized renter demand is supported by a high renter-occupied share in the surrounding neighborhood and a high-cost ownership market, according to WDSuite’s CRE market data. This positioning can aid income durability for a 1979-vintage, 71-unit asset.
Located in an inner-suburban pocket of Tyler, the neighborhood ranks 3 out of 78 metro neighborhoods, indicating it is competitive among Tyler neighborhoods on overall fundamentals. Dining and daily needs are convenient, with restaurant and cafe density testing well above national medians, and grocery and pharmacy access also comparatively strong. Park and childcare access are limited, which may modestly reduce family-oriented amenity appeal.
Neighborhood occupancy is above the metro median, and the share of housing units that are renter-occupied is high for the area. For investors, this points to a deeper tenant base and potential leasing stability relative to lower-renter corridors. Median contract rents in the area sit near national midpoints, while rent-to-income levels signal manageable affordability pressure that can support retention.
Within a 3-mile radius, recent population and household growth, along with a forecasted increase in both through the next five years, suggest a larger tenant base over time. Income distribution skews toward middle-to-upper brackets locally, which can support Class B repositioning strategies. These trends are directionally favorable for occupancy and rent performance, based on commercial real estate analysis from WDSuite.
The median home value in the neighborhood sits well above many regional benchmarks, and the value-to-income ratio places the area among higher-cost ownership markets nationally. That backdrop tends to reinforce reliance on multifamily housing, supporting pricing power and lease retention for well-managed properties.
Safety metrics for the neighborhood track slightly below the national median, with recent year-over-year declines in both property and violent offense estimates suggesting incremental improvement rather than a step-change. In practice, investors should underwrite typical operating protocols for Class B assets and monitor evolving local trends rather than assume outsized risk or outsized advantage.
Compared with neighborhoods nationwide, the area does not sit in the top quartile for safety; however, the downward trend in estimated incident rates provides a constructive signal to pair with on-the-ground diligence, vendor feedback, and current tenancy reviews.
Regional employment access includes large corporate services reachable by highway, supporting commuter-oriented renter demand. Notably, the following employer presence is within driving distance and may contribute to leasing depth.
- Sysco — corporate offices (36.3 miles)
400 Thigpen Dr is a 71-unit, 1979-vintage asset positioned in a competitive Tyler neighborhood where renter-occupied share is elevated and neighborhood occupancy trends are above the metro median. The combination of high home values relative to incomes and median rents near national midpoints supports sustained renter reliance, while 3-mile population and household growth point to a gradually expanding tenant base. According to CRE market data from WDSuite, amenity access is strong for dining and daily needs, though limited park and childcare options should be considered in tenant targeting.
Operationally, the older vintage suggests scope for value-add through unit modernization and building systems updates, with the potential to improve rent positioning relative to the area’s income profile. Underwriting should balance these upside avenues against capital planning and standard Class B risk management, including attention to safety trends that are improving but remain around national midpoints.
- Competitive inner-suburban location with above-median neighborhood occupancy and high renter concentration supporting demand depth
- High ownership costs locally reinforce reliance on rentals, aiding pricing power and lease retention
- 3-mile population and household growth expand the tenant base, supporting long-run leasing stability
- 1979 vintage presents value-add potential via interior upgrades and systems modernization
- Risks: older physical plant requiring capex; limited nearby parks/childcare; safety metrics below national median despite recent improvement