| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 16th | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 723 Garden Shadow Ln, Arlington, TX, 76011, US |
| Region / Metro | Arlington |
| Year of Construction | 1984 |
| Units | 108 |
| Transaction Date | 2005-01-01 |
| Transaction Price | $2,850,000 |
| Buyer | Robert |
| Seller | Soap, Ltd |
723 Garden Shadow Ln Arlington 108-Unit Multifamily
The surrounding neighborhood shows a deep renter base and steady household growth, supporting demand resilience according to WDSuite’s CRE market data. Neighborhood occupancy trends are stable in the high-80s, suggesting a large tenant pool with room for value-add execution.
Located in Arlington’s inner-suburb fabric of the Fort Worth–Arlington–Grapevine metro, the area scores competitive among 561 metro neighborhoods on overall amenities, with strong daily needs access. Grocery and pharmacy density ranks above most neighborhoods nationwide, while restaurants are plentiful; parks, cafes, and childcare are more limited. For workforce-oriented properties, this mix supports day-to-day convenience even if lifestyle amenities are not a core draw.
The neighborhood’s renter-occupied share is high (top decile nationally), signaling a sizable and durable tenant base for multifamily owners. Neighborhood occupancy sits in the high-80s, and median asking rents have climbed over the past five years—both consistent with steady, needs-based renter demand rather than discretionary leasing cycles.
Within a 3-mile radius, population has grown modestly and households have expanded more quickly, with average household size trending lower. That shift typically points to more one- and two-person households—favorable for 704 sq. ft. average unit sizes—supporting absorption and lease-up at attainable price points.
Ownership costs in the area are relatively elevated versus incomes (higher value-to-income ratios compared with many neighborhoods nationally). In practice, that tilts households toward renting and can underpin pricing power and retention for well-managed assets. Rent-to-income levels remain manageable locally, though investors should monitor affordability pressure as rents and incomes evolve.
Vintage context: the asset’s 1984 construction is slightly newer than the neighborhood’s typical 1980 stock, offering competitive positioning against older comparables while still leaving room for targeted systems upgrades and interior modernization to sharpen leasing and NOI.
Safety metrics are mixed and warrant pragmatic planning. Relative to 561 metro neighborhoods, the area ranks toward the lower end on crime, and national comparisons place it below many neighborhoods for safety. Recent data show a slight improvement in property-related offenses year over year, while violent offense indicators moved higher—underscoring the need for security-minded operations, lighting, and partnership with local patrols.
For investors, thoughtful design (sightlines, access control) and active management can help support resident experience and retention. Benchmarking against nearby submarkets with stronger scores may also inform underwriting assumptions for marketing, security, and turnover costs.
The employment base includes major corporate offices and regional headquarters within a commutable radius, reinforcing renter demand and lease stability for workforce housing. Key nearby employers include American Airlines Group, Express Scripts, GameStop, Kimberly-Clark, and Celanese.
- American Airlines Group — airlines & corporate operations (6.2 miles) — HQ
- Express Scripts — pharmacy benefit management (6.4 miles)
- Gamestop — retail HQ & corporate (10.9 miles) — HQ
- Kimberly-Clark — consumer products corporate (12.3 miles) — HQ
- Celanese — specialty materials corporate (12.6 miles) — HQ
723 Garden Shadow Ln offers scale at 108 units with a 1984 vintage that is competitive versus the neighborhood’s older stock, creating clear value-add and systems-upgrade pathways without sacrificing everyday convenience. The immediate area exhibits a high renter concentration and a sizable workforce tenant base, while 3-mile household growth and shrinking household sizes point to continued depth for smaller format units. According to CRE market data from WDSuite, neighborhood rents have trended upward over five years and occupancy remains solid, supporting a case for disciplined renovation and revenue management.
Macro-context supports tenancy: ownership costs run relatively high versus local incomes, sustaining reliance on rental housing and helping pricing power where operations and product quality are strong. At the same time, safety indicators sit below regional peers and require proactive management; investors should underwrite security, marketing, and turnover with care.
- High renter concentration and workforce demand underpin occupancy stability
- 1984 vintage allows targeted renovations to drive NOI versus older comps
- 3-mile household growth and smaller households support absorption of mid-size units
- Ownership costs relatively elevated vs. incomes reinforce renter reliance
- Risk: safety metrics trail metro leaders—budget for security and retention initiatives