| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 217 Harris Dr, Crowley, TX, 76036, US |
| Region / Metro | Crowley |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | 2019-08-07 |
| Transaction Price | $1,925,000 |
| Buyer | TOWNVIEW APARTMENTS LLC |
| Seller | CROWLEY TOWNVIEW APARTMENTS LP |
217 Harris Dr, Crowley TX Multifamily Opportunity
Neighborhood multifamily occupancy is in the low 90s with steady improvement over the past five years, according to WDSuite’s CRE market data. This supports stable renter demand for a 24-unit asset positioned in a suburban Tarrant County location.
Crowley’s suburban setting offers daily convenience and family-oriented amenities that are competitive among Fort Worth–Arlington–Grapevine neighborhoods. Amenity access rates among the top quartile nationally for cafes, groceries, parks, childcare, and pharmacies, pointing to well-rounded livability that can aid leasing and retention.
For investors, rents in the immediate neighborhood track around the mid-$1,300s while the broader 3-mile area trends closer to the mid-$1,400s, and neighborhood occupancy is roughly 93%, indicating a balanced market with pricing power tied to quality and management. Median rent burdens sit near 17% of income locally, suggesting manageable affordability pressure that can support lease stability rather than frequent turnover.
Within a 3-mile radius, population and household counts have grown in the double digits since the prior period, and projections point to further expansion through 2028. This translates into a larger tenant base and supports occupancy stability for well-maintained multifamily assets. The renter-occupied share is roughly 30% within 3 miles, indicating a defined but not dominant renter concentration that aligns with workforce housing demand.
The average neighborhood school rating trends below national norms, which can temper appeal for some family renters; however, the strong amenity mix and suburban access help maintain demand from a broad renter profile. The property’s 2002 vintage is slightly newer than the neighborhood average (late-1990s), offering relative competitiveness versus older stock while still warranting selective system upgrades or cosmetic refreshes where needed to maximize performance.
Safety indicators compare favorably to national benchmarks. Overall crime rates align around the upper-third of U.S. neighborhoods (higher percentile indicates safer), with particularly strong standing on violent crime metrics. Recent year-over-year trends show modest declines in both violent and property offenses, which supports community stability without relying on block-level assumptions.
Within the Fort Worth–Arlington–Grapevine metro, the area is competitive versus peer neighborhoods and has shown incremental improvement. As always, investors should pair metro- and national-level indicators with property-specific diligence and professional assessments.
The employment base combines nearby manufacturing and major corporate offices that broaden the renter pool and support retention through varied white- and blue-collar demand. Notable employers within commuting range include Ball Metal Beverage Packaging, D.R. Horton, Parker Hannifin, American Airlines Group, and Express Scripts.
- Ball Metal Beverage Packaging — manufacturing (5.6 miles)
- D.R. Horton — homebuilding corporate offices (12.5 miles) — HQ
- Parker Hannifin Corporation — industrial & engineering offices (13.1 miles)
- American Airlines Group — airline corporate headquarters (24.7 miles) — HQ
- Express Scripts — pharmacy benefit management (25.0 miles)
217 Harris Dr is a 24-unit, 2002-vintage asset positioned in a suburban pocket of Tarrant County where neighborhood occupancy is roughly 93% and has edged higher in recent years. According to CRE market data from WDSuite, amenity access performs in the top quartile nationally, while rent-to-income levels near 17% indicate manageable affordability pressure that can support retention for professionally managed communities. The 3-mile trade area shows multi-year population and household growth, with further expansion expected by 2028—factors that underpin a larger tenant base and steady leasing.
Relative ownership costs remain accessible in this submarket, which can create some competition with homeownership; however, a defined renter concentration near 30% within 3 miles and continued in-migration support durable multifamily demand. The 2002 construction provides competitive positioning versus older local stock, with targeted upgrades offering potential to enhance rents and resident experience without overextending capital plans.
- Neighborhood occupancy in the low 90s supports leasing stability
- Top-quartile amenity access and suburban fundamentals aid retention
- 2002 vintage offers competitive stock with value-add upgrade potential
- 3-mile trade area shows sustained population and household growth, expanding the renter base
- Risks: below-average school ratings and accessible ownership options may temper some family demand