| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 61st | Best |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5415 Old Bullard Rd, Tyler, TX, 75703, US |
| Region / Metro | Tyler |
| Year of Construction | 1998 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5415 Old Bullard Rd Tyler 36-Unit Multifamily
Renter demand is supported by a solid tenant base and manageable rent-to-income levels, according to WDSuites CRE market data. Neighborhood occupancy trends are softer, so asset performance will hinge on execution and value positioning.
Located in Tylers inner suburb, the property sits in a neighborhood rated A- (ranked 21 of 78), which is competitive among Tyler neighborhoods. Median contract rents in the area trend above the metro median (nationally around the mid-60th percentile), while the rent-to-income ratio near 22% indicates room for retention-focused pricing rather than aggressive rent push.
Within the neighborhood, an estimated 36.5% of housing units are renter-occupied, signaling a defined multifamily tenant base. At the 3-mile radius, the renter-occupied share is roughly 43.5%, pointing to a deeper pool of prospective renters and potential support for leasing velocity and renewal capture.
Livability features are mixed: childcare access ranks high locally (top decile in the metro), while on-neighborhood counts of cafes, groceries, parks, and restaurants are limited, suggesting residents likely rely on nearby corridors for daily needs. Average school ratings are around 3.0 out of 5 (above the U.S. median), a neutral but stabilizing factor for longer-term residency.
Demographics aggregated within a 3-mile radius show population growth over the last five years and further increases projected through 2028, alongside rising household incomes. This combination generally supports multifamily absorption and occupancy stability even as new supply or renewals test rent thresholds. Elevated ownership costs relative to local incomes (value-to-income ratio trending above U.S. midline) also sustain reliance on rental housing, which can reinforce retention and reduce turnover for well-positioned assets.
Safety conditions are mixed relative to broader benchmarks. The neighborhoods crime profile sits below the national median (around the 38th percentile for overall safety), indicating more reported incidents than safer U.S. neighborhoods. Within the Tyler metro, the area is mid-pack (ranked 42 of 78), suggesting investors should underwrite prudent security measures and operating protocols.
Recent year-over-year estimates indicate increases in both violent and property offenses locally. While absolute levels remain closer to national mid-range for violent incidents, the upward trend underscores the importance of lighting, access control, and partnership with local patrols to support resident satisfaction and retention. As always, property-level measures can differ from neighborhood-wide indicators.
Built in 1998, the 36-unit asset is slightly older than the neighborhoods average vintage, presenting potential value-add and capital planning opportunities that can sharpen competitive positioning against newer stock. Demand fundamentals are supported by a meaningful renter base locally and a larger renter pool within 3 miles, with population and household growth expanding the prospective tenant pipeline. According to CRE market data from WDSuite, neighborhood rents sit above metro norms while rent-to-income trends remain manageable, which favors retention-centric revenue strategies over outsized rent growth assumptions.
Area livability is serviceable, with strong childcare access but fewer on-block retail amenities, making curb appeal, on-site services, and convenience-oriented upgrades important to drive renewals. Safety indicators are mid-range in the metro and below the national median, so underwriting should include sensible security investments and active management to support leasing and resident satisfaction.
- Established renter base locally and deeper 3-mile pool supports leasing and renewals.
- 1998 vintage allows targeted value-add to compete with newer offerings.
- Rents above metro with manageable rent-to-income support retention-focused revenue.
- Population and household growth (3-mile radius) expand the tenant pipeline.
- Risks: softer neighborhood occupancy and below-median national safety require hands-on operations and prudent capex.