| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 85th | Best |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 924 Simpson Ter, Bedford, TX, 76021, US |
| Region / Metro | Bedford |
| Year of Construction | 1977 |
| Units | 84 |
| Transaction Date | 2015-05-01 |
| Transaction Price | $5,800,000 |
| Buyer | G Square Real Estate Holdings |
| Seller | 928 Simpson Bedford Partners |
924 Simpson Ter Bedford Multifamily Opportunity
Neighborhood-level occupancy is steady and supported by a higher-income renter base, according to WDSuite’s CRE market data, positioning this asset for durable demand in an inner-suburban location between Dallas and Fort Worth.
Positioned in Bedford’s Inner Suburb setting, the property benefits from a neighborhood that ranks 51 out of 561 within the Fort Worth–Arlington–Grapevine metro, placing it in the top quartile locally for overall fundamentals. Daily needs are well covered with strong grocery and pharmacy access (both ranked among the metro’s leaders), while limited park and cafe density suggests a more utilitarian amenity mix.
Schools are a notable strength: the neighborhood’s average school rating is 5.0 out of 5, ranking 1st among 561 metro neighborhoods and in the 100th percentile nationally — a differentiator that can support family-oriented renter retention and leasing velocity.
On housing dynamics, neighborhood occupancy of 94.9% is competitive among Fort Worth–Arlington–Grapevine neighborhoods, and median contract rents sit in the metro’s top quartile and around the 85th percentile nationally. A rent-to-income ratio near 0.14 indicates lower affordability pressure relative to many markets, helping support lease stability rather than near-term pricing power.
Within a 3-mile radius, demographics point to a stable and expanding tenant base: population has inched up in recent years, households have grown, and projections show further household expansion over the next five years. The renter-occupied share is about 36% within this radius, indicating meaningful depth for multifamily demand without overreliance on transient tenants. Elevated household incomes in the neighborhood — high for both the metro and nationally — reinforce the capacity to sustain rent levels and occupancy.
Safety indicators are mixed but generally favorable in broader context. Within the Fort Worth–Arlington–Grapevine metro, the neighborhood’s crime rank (77 out of 561) suggests it experiences more incidents than many local peers. However, on a national basis, the neighborhood sits above the median for safety, with violent and property offense measures in higher (better) national percentiles. Recent trends show property offenses easing year over year, while violent incidents have ticked up slightly — an area to monitor rather than a structural concern.
Proximity to several major corporate employers broadens the commuter tenant base and supports leasing stability, particularly for professionals tied to airline, retail headquarters, and healthcare and medical technology roles. The list below highlights nearby anchors most relevant to workforce housing demand from this location.
- Gamestop — video game retail (4.9 miles) — HQ
- American Airlines Group — airline (6.5 miles) — HQ
- Express Scripts — pharmacy benefits (7.1 miles)
- Michaels Cos. — specialty retail (10.4 miles) — HQ
- Stryker — medical devices (10.8 miles)
924 Simpson Ter offers 84 units built in 1977, positioning it for value-add potential through targeted renovations and systems upgrades while competing in a neighborhood with competitive occupancy and top-tier schools. Based on CRE market data from WDSuite, rents in the surrounding neighborhood sit near the top of the metro distribution, and rent-to-income levels indicate manageable affordability pressure that can support retention.
Demand drivers are reinforced by proximity to major employers across airline, retail headquarters, and healthcare/medical technology, plus a 3-mile radius showing household growth historically and projected expansion ahead — supportive of a larger tenant base and occupancy stability. A relatively accessible ownership market locally may introduce some competition with for-sale housing, which argues for disciplined renovation scopes and careful rent positioning.
- 1977 vintage enables a clear value-add thesis through interior refresh and selective capital projects.
- Competitive neighborhood occupancy and high-performing schools support family retention and steady leasing.
- Above-median incomes and proximity to major employers broaden the renter pool and support collections.
- Manageable rent-to-income levels point to lease stability, per WDSuite’s commercial real estate analysis.
- Risk: relatively accessible ownership options may cap near-term pricing power; renovation quality and amenity strategy will matter.