| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 44th | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 704 Lynda Ln, Arlington, TX, 76013, US |
| Region / Metro | Arlington |
| Year of Construction | 1981 |
| Units | 20 |
| Transaction Date | 2006-09-28 |
| Transaction Price | $535,000 |
| Buyer | 704 LYNDA LLC |
| Seller | PBE REAL ESTATE HOLDINGS LP |
704 Lynda Ln, Arlington TX — 20-Unit Value‑Add Multifamily
Renter concentration in the surrounding neighborhood is elevated, supporting a deeper tenant base even as neighborhood occupancy trends sit below national averages, according to WDSuite’s CRE market data.
Located in Arlington’s inner-suburban fabric, the property sits in a neighborhood rated C+ where renter-occupied housing is prominent. This higher renter concentration indicates a broader tenant pool for small multifamily assets and can aid leasing durability, while the neighborhood occupancy rate is comparatively softer versus national norms — an important factor for pricing and lease management.
Daily-needs access is a relative strength: grocery availability ranks 127 out of 561 Fort Worth–Arlington–Grapevine neighborhoods, placing the area in the top quartile locally. By contrast, cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood footprint, so residents are more reliant on nearby corridors for those amenities. Average school ratings trend below national averages, which may modestly influence family-oriented demand but is less determinative for smaller format apartments.
Within a 3-mile radius, population has grown recently and households are increasing, with forecasts pointing to additional population growth and a notable rise in household counts over the next five years. This progression typically supports renter pool expansion and occupancy stability for workforce-oriented properties. Median contract rents in the neighborhood are near the national mid-range, and median home values are similar — a context that limits extreme ownership competition while keeping renter demand reliant on attainable monthly housing costs.
Construction stock in the neighborhood skews late-1970s on average. With a 1981 vintage, the subject property is somewhat newer than the local average, which can be competitively helpful versus older inventory; however, investors should still plan for selective modernization and system updates to sustain positioning.
Safety metrics for the neighborhood trail national percentiles, indicating comparatively higher reported crime than many U.S. neighborhoods. Relative to the Fort Worth–Arlington–Grapevine metro (561 neighborhoods), the area’s crime rank places it below the metro median. For investors, this typically requires tighter operational oversight, enhanced lighting/access controls, and resident engagement to support retention.
Recent trend signals show some improvement: property offense rates have declined year over year, ranking in a stronger improvement tier within the metro. While these are neighborhood-level indicators rather than property-specific, they suggest conditions are not static and that active management and security programming can be material to performance.
Proximity to major employers supports workforce demand and commute convenience, with notable corporate offices and headquarters within 8–16 miles that can enhance leasing depth for smaller multifamily assets. The employers listed below represent aviation, healthcare services, packaging manufacturing, homebuilding, and consumer retail.
- American Airlines Group — airline (8.4 miles) — HQ
- Express Scripts — pharmacy benefit management (8.5 miles)
- Ball Metal Beverage Packaging — packaging manufacturing (12.5 miles)
- D.R. Horton — homebuilding (12.8 miles) — HQ
- Gamestop — video game retail (12.9 miles) — HQ
This 20-unit asset offers exposure to an inner-suburban Arlington location with a deep renter base and attainable neighborhood rent levels. Based on CRE market data from WDSuite, the neighborhood’s renter-occupied share is high, which supports a larger prospective tenant pool, while occupancy trends are comparatively softer — favoring disciplined leasing strategy and value-focused positioning. The 1981 vintage is slightly newer than the local average, suggesting competitive footing against older stock with potential to unlock value through targeted renovations and operational enhancements.
Neighborhood amenities are anchored by strong grocery access but fewer lifestyle venues, implying residents prioritize convenience and price over destination retail. Within a 3-mile radius, ongoing population growth and a projected increase in households point to renter pool expansion that can support occupancy stability and steady absorption for smaller units. Ownership remains relatively high-cost versus incomes in the neighborhood context, reinforcing reliance on multifamily housing and supporting retention when homes are less accessible.
- High renter concentration supports demand depth and leasing velocity
- 1981 vintage offers value-add and modernization upside versus older stock
- Household and population growth within 3 miles support occupancy stability
- Strong grocery access; focus positioning on convenience and attainable rents
- Risks: softer neighborhood occupancy and below-average safety require active management