| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 63rd | Best |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 502 W Main St, Whitehouse, TX, 75791, US |
| Region / Metro | Whitehouse |
| Year of Construction | 1982 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
502 W Main St, Whitehouse TX Multifamily Opportunity
Strong schools and a growing 3-mile renter pool support steady leasing potential, according to WDSuite’s CRE market data, with value-add upside from a 1982 vintage in a predominantly owner-occupied area.
Whitehouse sits within the Tyler, TX metro and is competitive among Tyler neighborhoods (8 of 78) for overall quality, per WDSuite. The area skews suburban-rural with convenient daily amenities (grocery, parks, childcare) at moderate densities, and restaurants and cafes present but not urban in scale.
Schools are a local strength: the neighborhood’s average school rating is 4.4 out of 5, ranking 3 of 78 and in the top quartile nationally (93rd percentile). For multifamily owners, this tends to support family-driven demand and longer tenures, aiding retention.
Rents in the neighborhood track above many metro peers (median contract rent ranks 6 of 78 and sits in the 73rd national percentile), while rent-to-income is measured at roughly 0.17, suggesting manageable affordability that can support lease stability. Neighborhood occupancy is reported around the high-80s and has softened modestly over the past five years, implying the importance of focused operations and competitive positioning to sustain occupancy.
Tenure patterns indicate a predominantly owner-occupied neighborhood, with renter-occupied units near 18% at the neighborhood level; this points to a targeted but dependable multifamily niche. Within a 3-mile radius, demographics show a larger tenant base: households increased about 14.9% over five years, and population grew roughly 9.7%, expanding the pool of potential renters. Forward-looking 3-mile projections call for additional household growth through 2028, which supports occupancy stability and absorption for well-positioned assets.
Home values in the area are relatively accessible by national standards (median value sits below many higher-cost markets and a low value-to-income ratio), which can create some competition from ownership. Even so, elevated school quality and rising household counts in the 3-mile trade area bolster renter demand for professionally managed communities, particularly those offering updated finishes and amenities.
Safety indicators are comparatively favorable in the national context: the neighborhood aligns with the top quartile nationwide for overall safety (74th percentile), and violent incident measures are stronger still (around the mid-80s percentile), based on WDSuite’s data. Recent year-over-year readings show double-digit declines in both property and violent incident estimates, signaling improving trends.
Within the Tyler metro, the neighborhood ranks 6 out of 78 on crime (lower ranks correspond to higher relative incident levels locally). Investors should interpret this as stronger performance nationally but mixed positioning versus some nearby Tyler subareas, warranting routine security and asset management practices to sustain resident confidence.
Regional employment access is oriented toward greater Tyler and East Texas. Proximity to distribution and corporate offices supports workforce housing demand and commute convenience for residents working across the metro.
- Sysco — foodservice distribution (33.2 miles)
This 96-unit property, built in 1982, is older than the neighborhood average and suitable for a focused value-add plan. Household and population growth within a 3-mile radius expand the renter pool, while strong local schools underpin family-oriented demand and lease retention. According to CRE market data from WDSuite, neighborhood rents index above many metro peers, and rent-to-income levels suggest room for disciplined revenue management without overextending affordability.
Counterpoints include a predominantly owner-occupied neighborhood that can temper pricing power, metro-relative crime positioning that warrants basic security measures despite favorable national percentiles, and occupancy that has softened modestly over five years. Execution around renovations, amenities, and operations should position the asset competitively against both newer communities and ownership alternatives.
- Value-add potential from 1982 vintage with scope for interior and systems upgrades
- Expanding 3-mile renter pool and strong schools support demand and retention
- Rents above many metro peers with manageable rent-to-income aids revenue management
- Risk: owner-leaning tenure and metro-relative crime positioning may limit pricing power; proactive asset management recommended