| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 52nd | Good |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 820 Southeast Pkwy, Azle, TX, 76020, US |
| Region / Metro | Azle |
| Year of Construction | 1985 |
| Units | 54 |
| Transaction Date | 2016-03-29 |
| Transaction Price | $2,189,100 |
| Buyer | SHADY CREEK 820 LLC |
| Seller | SHADY CREEK APARTMENTS LTD |
820 Southeast Pkwy, Azle TX Multifamily Investment
Neighborhood occupancy is in the mid-90s with a renter-occupied share in the mid-20s, indicating a stable but competitive tenant base, according to WDSuite’s CRE market data.
Azle’s suburban neighborhood shows balanced livability for workforce renters. Amenity access is top quartile nationally (72nd percentile) and competitive within the Fort Worth–Arlington–Grapevine metro (ranked 32nd among 561 neighborhoods), with cafes and restaurants also performing in the top quartile nationally. This mix supports day-to-day convenience and can aid lease retention.
Occupancy for the neighborhood is strong (75th percentile nationally) and competitive among Fort Worth–Arlington–Grapevine neighborhoods (ranked 192 of 561), suggesting generally steady leasing conditions. Median contract rents track near national medians, reinforcing a value-oriented positioning rather than premium pricing. The neighborhood’s rent-to-income metric sits in the upper national percentiles, which can support pricing power while maintaining lease stability for operators.
Within a 3-mile radius, demographics indicate population growth over the past five years with further increases in households projected through 2028. Household sizes are trending slightly lower, which can expand the renter pool as more households form, supporting occupancy stability for smaller-format units. Income growth within this radius has been solid, improving the capacity to absorb measured rent increases over time.
Ownership costs in the area sit modestly above national norms, which, coupled with a renter-occupied housing share around one-quarter of units at the neighborhood level, points to a tenant base that relies on multifamily options but still competes with ownership alternatives. Average school ratings in the neighborhood trail national benchmarks, which may temper appeal for family-focused renters; however, the broader amenity and employment access profile remains competitive among metro peers.
Safety indicators are mixed when viewed across geographies. Compared with metro peers, the neighborhood’s crime rank (106 out of 561) indicates higher incident rates than many Fort Worth–Arlington–Grapevine neighborhoods. Nationally, however, the area sits modestly above average safety levels (56th percentile), suggesting it compares somewhat more favorably in a broader context.
Recent trends are noteworthy: estimated violent offense rates show a meaningful year-over-year decline (top decile improvement nationally), while property offenses are close to national averages with a slight recent uptick. For investors, this points to a trajectory that should be monitored but does not appear outside typical suburban volatility.
Nearby employers provide a diversified employment base that supports renter demand through commute convenience, including industrial components and corporate headquarters: Parker Hannifin, D.R. Horton, Ball Metal Beverage Packaging, GameStop, and American Airlines Group.
- Parker Hannifin Corporation — industrial & engineering offices (11.4 miles)
- D.R. Horton — homebuilding corporate offices (14.7 miles) — HQ
- Ball Metal Beverage Packaging — manufacturing offices (20.5 miles)
- Gamestop — retail corporate offices (26.1 miles) — HQ
- American Airlines Group — airline corporate offices (28.5 miles) — HQ
This 54-unit property, built in 1985, is slightly newer than the neighborhood’s average vintage and may be competitively positioned versus older stock while still benefiting from targeted modernization. Neighborhood occupancy trends are strong and competitive within the metro, with rents aligning near national medians; combined with amenity depth that ranks in the top quartile nationally, this supports steady renter demand and potential pricing resilience through cycles.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, effectively enlarging the tenant base. Income growth in the area underpins renters’ ability to absorb modest rent gains, while an ownership market that is moderately priced by national standards helps sustain reliance on multifamily housing. According to CRE market data from WDSuite, forward-looking signals show steady demand but also point to pockets of execution risk, including softer local school ratings and near-term rent forecasts that appear flat to slightly negative, warranting conservative underwriting.
- 1985 vintage offers relative competitiveness vs. older neighborhood stock with room for focused value-add.
- Strong neighborhood occupancy and top-quartile amenities support leasing stability and retention.
- 3-mile radius shows population and household growth, expanding the tenant base and supporting demand.
- Income gains and manageable rent-to-income positioning can support measured rent growth and pricing power.
- Risks: below-average school ratings, metro-relative safety rank, and near-term flat/soft rent forecasts call for disciplined underwriting.