| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 48th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 Village Garden Dr, Azle, TX, 76020, US |
| Region / Metro | Azle |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | 2000-11-01 |
| Transaction Price | $833,000 |
| Buyer | AZLE FOUNTAINHEAD LP |
| Seller | UNITED STATE OF AMERICA |
1300 Village Garden Dr Azle Multifamily Investment
Neighborhood-level occupancy sits in the low-90s and rents track as relatively affordable for local incomes, supporting tenant retention according to WDSuite’s CRE market data. These indicators reflect the neighborhood context rather than the property itself and suggest durable renter demand as nearby households expand.
Situated in suburban Azle within the Fort Worth-Arlington-Grapevine, TX metro, the neighborhood rates B+ and ranks 151 of 561 neighborhoods—competitive among metro peers. For day-to-day convenience, grocery and pharmacy access test well versus the region (ranks 158/561 and 104/561, respectively), aligning with top-quartile-to-competitive availability nationally. Parks also score competitively (161/561), while restaurants are above the metro median (272/561). Cafés are sparse (561/561), a minor amenity gap investors should note for lifestyle positioning.
The neighborhood’s renter concentration is 28.1% of housing units being renter-occupied, indicating a modest but steady depth of multifamily demand that can support leasing stability. Neighborhood occupancy is 91.7% (a neighborhood metric), suggesting a reasonably stable baseline for collections and renewals, with pricing power still contingent on asset quality and positioning.
Within a 3-mile radius, population and households have expanded over the past five years and are projected to continue growing, pointing to a larger tenant base ahead. Household sizes are trending slightly smaller, which can increase demand for smaller-unit formats and support absorption of studios and one-bedrooms.
Home values have risen materially in recent years, and the value-to-income landscape indicates a high-cost ownership market relative to local earnings. In investor terms, elevated ownership costs tend to reinforce reliance on rentals, aiding lease retention. At the same time, the rent-to-income ratio sits at a comparatively low level (high national percentile), which can reduce affordability pressure and support renewal outcomes.
Vintage context matters: the average construction year in the neighborhood is 1994. With a 1987 vintage, this asset skews older than nearby stock, implying potential capital planning needs and value-add upside through targeted renovations and system modernization to sharpen competitive positioning.
Safety signals are mixed but generally favorable in comparative terms. The neighborhood’s overall crime rank is 104 out of 561 metro neighborhoods, placing it competitive among Fort Worth-Arlington-Grapevine areas. Nationally, violent-offense indicators are in a high safety percentile (88th), and property-offense levels also align with stronger-than-average national percentiles.
Trend-wise, recent data show a notable uptick in property offenses over the last year even as violent-offense trends have improved modestly. Investors should monitor these trends at the neighborhood level and align security measures and resident engagement accordingly.
Proximity to established corporate employers supports workforce housing demand and commute convenience, with nearby industrial, homebuilding, packaging, retail, and airline corporate offices anchoring the renter base.
- Parker Hannifin Corporation — industrial manufacturing offices (11.0 miles)
- D.R. Horton — homebuilding corporate offices (14.2 miles) — HQ
- Ball Metal Beverage Packaging — packaging/manufacturing offices (20.2 miles)
- Gamestop — retail corporate offices (25.2 miles) — HQ
- American Airlines Group — airline corporate offices (27.7 miles) — HQ
This 60-unit asset built in 1987 is slightly older than the neighborhood’s average vintage, creating clear value-add angles via interior updates and system upgrades to improve competitive standing. Neighborhood occupancy is 91.7% and renter concentration is roughly one-quarter to one-third of units, supporting a stable tenant base. According to CRE market data from WDSuite, the area offers strong grocery/pharmacy access and nationally strong safety percentiles for violent offenses, while household growth within a 3-mile radius expands the prospective renter pool.
Affordability dynamics are constructive: the neighborhood’s low rent-to-income ratio suggests reduced retention risk and steady collections, even as higher ownership costs in the area tend to sustain reliance on rentals. Key watch items include recent property-offense increases and average school ratings; thoughtful asset management and resident experience strategies can mitigate these factors.
- Older 1987 vintage vs. 1994 neighborhood average points to renovation and repositioning upside.
- Neighborhood occupancy around the low-90s supports leasing stability and renewal potential.
- Growing households within 3 miles expand the tenant base and support demand for smaller units.
- Low rent-to-income ratio supports retention and collections; elevated ownership costs reinforce rental reliance.
- Risk: recent property-offense uptick and average school ratings warrant monitoring and proactive management.