| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 61st | Best |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 W Rieck Rd, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1984 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
415 W Rieck Rd, Tyler TX — 52-Unit Value-Add Multifamily
Investor positioning centers on steady renter demand and manageable affordability, with neighborhood rents mid-market and a moderate renter-occupied share, according to WDSuite’s CRE market data.
This inner-suburb location in Tyler ranks 21 out of 78 metro neighborhoods (above the metro median) with an A- neighborhood rating, indicating competitive fundamentals for workforce-oriented multifamily. Neighborhood rent levels sit in the mid-range for the metro, while the rent-to-income profile suggests manageable affordability that can support retention rather than stretch tenants.
Local amenity density is thin for cafes, groceries, restaurants, and parks, but childcare availability is comparatively strong for the metro. Average school ratings are above typical levels, landing in the top quartile among 78 metro neighborhoods, which can appeal to households seeking stability within a 3-mile radius. These livability signals can aid leasing even if everyday retail is more dispersed.
Renter-occupied housing accounts for roughly one-third of neighborhood units, indicating a moderate renter concentration and a sufficient tenant base for a 52-unit asset. The neighborhood’s average construction year is 2003; with the subject built in 1984, investors should underwrite near- to medium-term capital planning and value-add upgrades to improve competitive positioning versus newer stock.
Within a 3-mile radius, population has grown in recent years and is projected to continue expanding alongside a notable increase in households. Rising household incomes and a growing family segment point to a larger tenant base, which should help leasing and occupancy stability. Meanwhile, median home values and a value-to-income ratio near four indicate a high-cost ownership market for some households, which can sustain reliance on rental housing; however, ownership remains accessible for higher-income households, implying some competition with for-sale options.
Safety indicators for the neighborhood are mixed relative to the metro and near national mid-range levels. Overall crime performance sits around the metro average, with national comparisons in the lower-middle range. Violent offense levels align closer to national medians, while property offenses track somewhat less favorably. Recent year-over-year changes show increases in both violent and property offenses, so investors should assume prudent security measures and consider tenant experience when planning renovations and site operations.
Built in 1984, this 52-unit asset offers clear value-add potential in a Tyler inner-suburb that ranks above the metro median. Neighborhood rents are mid-market and the rent-to-income profile is manageable, supporting retention. Within a 3-mile radius, population and household counts are expanding, which points to a larger renter pool and supports occupancy stability over time. According to CRE market data from WDSuite, the subject’s older vintage relative to neighborhood norms (average 2003) suggests modernization can enhance competitiveness against newer stock.
Ownership costs are elevated enough to sustain renter reliance for portions of the market, though higher-income households can pivot to for-sale options, creating some competitive tension. Amenity density is thinner locally, but childcare access and above-median school ratings help underpin livability for families. Underwriting should account for capital improvements and a thoughtful leasing strategy given mixed safety trends and neighborhood occupancy signals.
- 1984 vintage positions the asset for value-add upgrades to compete with a neighborhood average vintage of 2003.
- Expanding 3-mile population and household counts support a growing tenant base and leasing durability.
- Mid-market rents and a manageable rent-to-income profile aid retention and cash flow stability.
- Family-friendly signals (childcare density, above-median school ratings) bolster livability despite thin retail amenities nearby.
- Risks: mixed safety trends, lower neighborhood occupancy context, and potential competition from ownership warrant conservative underwriting and active asset management.