| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 46th | Good |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4123 Southpark Dr, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1977 |
| Units | 113 |
| Transaction Date | 2021-11-29 |
| Transaction Price | $10,241,000 |
| Buyer | 4123 SOUTHPARK LLC |
| Seller | EVERGREEN SHERWOOD GENERAL PARTNERSHIP |
4123 Southpark Dr, Tyler TX Multifamily Investment
Positioned in an inner-suburban pocket of Tyler, the surrounding neighborhood shows a deep renter base and mid-range rents, supporting consistent tenant demand according to WDSuite’s CRE market data. All neighborhood metrics referenced here reflect area conditions around the property, not the asset itself.
The neighborhood rates A- within the Tyler, TX metro and ranks 20 out of 78 neighborhoods, placing it competitive among Tyler neighborhoods. Daily needs are convenient: grocery density ranks 8 of 78, while restaurants score near the top of the metro, aligning with a high national percentile for dining options. Parks, cafes, and pharmacies are limited nearby, so on-site amenities and thoughtful resident services can be differentiators for leasing.
Renter concentration in the neighborhood is elevated (share of housing units that are renter-occupied ranks 2 of 78), indicating a deep tenant base and durable multifamily demand. Neighborhood housing occupancy has softened in recent years and trails stronger metro subareas; investors should underwrite to local leasing velocity rather than metro averages and focus on resident retention and renewal management.
The asset’s 1977 vintage is older than the area’s average construction year (1986). That age profile suggests near- to medium-term capital needs, but it also supports value-add strategies around unit interiors, energy systems, and amenity modernization to improve competitive positioning versus newer stock.
Within a 3-mile radius, demographics indicate modest population growth to date with a larger household base projected over the next five years, supporting renter pool expansion. Median contract rents in the neighborhood sit around the national middle, and a rent-to-income ratio near one-quarter points to manageable affordability pressure, aiding lease retention. Elevated home values relative to local incomes (high national percentile) reinforce reliance on rental housing, which can support occupancy stability. These perspectives are based on commercial real estate analysis from WDSuite for the surrounding neighborhood, not the property’s own performance.
Area safety reads as mixed relative to the metro and nation. The neighborhood’s overall crime rank is 34 out of 78 within the Tyler metro, roughly around the metro midpoint. Nationally, violent incident measures sit in lower safety percentiles, while property incident levels are also below national medians but have improved year over year.
For investors, the notable point is trend direction: property offense rates show a meaningful one-year decline (a stronger improvement relative to many areas nationally). Asset-level measures—lighting, access control, and visibility—can further support resident comfort and retention. All safety references here compare the surrounding neighborhood with metro and national benchmarks, not the property itself.
This 113-unit, 1977-vintage property in Tyler’s inner suburbs aligns with workforce renter demand drivers. The surrounding neighborhood shows an elevated share of renter-occupied housing units, mid-range rents, and a high value-to-income environment that sustains reliance on rental housing. According to CRE market data from WDSuite, neighborhood housing occupancy has softened versus stronger parts of the metro, so execution should emphasize leasing discipline and retention. The older vintage points to capital planning needs, but also creates clear pathways for value-add upgrades to strengthen competitive position against newer assets.
Within a 3-mile radius, recent population growth and projected increases in households point to a gradually expanding tenant base, supporting occupancy stability over a longer hold. With dining and grocery access competitive metro-wide, yet limited public amenities nearby, curated on-site offerings can help drive resident stickiness and reduce turnover.
- Elevated neighborhood renter-occupied share signals deep tenant demand for multifamily.
- 1977 vintage supports a value-add thesis through interior and system upgrades.
- 3-mile area shows population and household growth, supporting a larger renter pool over time.
- Grocery and dining access is competitive in the metro, aiding leasing and daily convenience.
- Risk: neighborhood housing occupancy trails stronger subareas—underwrite conservative lease-up and prioritize renewals.