| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3029 Lackland Rd, Fort Worth, TX, 76116, US |
| Region / Metro | Fort Worth |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | 2015-01-23 |
| Transaction Price | $1,007,800 |
| Buyer | PERFECT AND RELAX LIVING LLC |
| Seller | JS 9 TIMES LLC |
3029 Lackland Rd Fort Worth Multifamily Investment
Renter concentration in the surrounding neighborhood supports a durable tenant base even as occupancy trends remain mixed, according to WDSuite’s CRE market data. This location offers everyday convenience and workforce access that can help stabilize leasing through cycles.
The property sits in an Inner Suburb of Fort Worth where everyday amenities are accessible and support community livability. By metro comparison, the area is competitive on amenity access (ranked 107 out of 561 Fort Worth–Arlington–Grapevine neighborhoods) with stronger grocery and park/restaurant density than many peers, while cafe and pharmacy options are thinner. For investors, this mix typically supports resident retention through daily convenience rather than destination draws, based on CRE market data from WDSuite.
Construction year for the asset is 1972, which is older than the neighborhood’s average vintage. That age profile points to capital planning needs and potential value‑add opportunities through targeted renovations and system upgrades to improve competitive positioning against 1980s stock and newer deliveries.
Tenant demand fundamentals are anchored by a high share of renter‑occupied housing units in the neighborhood (indicating a deeper multifamily renter pool). Within a 3‑mile radius, demographics show recent population growth and an increase in households, with forecasts calling for continued gains over the next five years. This expansion implies a larger tenant base and supports occupancy stability for well‑positioned properties.
Ownership costs in the neighborhood are elevated relative to local incomes compared with many U.S. areas, which tends to sustain reliance on rental housing and can support pricing power when lease management is disciplined. Neighborhood rent levels have risen over the past five years, reinforcing the need to balance revenue growth with affordability to maintain lease retention.
Safety trends are mixed. Compared with 561 neighborhoods across the Fort Worth–Arlington–Grapevine metro, this neighborhood sits below the metro average for safety (crime rank 330 of 561; national safety standing is below mid‑pack). However, recent year‑over‑year movement shows improvement, with both violent and property offense rates trending down, which is a constructive signal for investor risk assessments.
Investors should underwrite with prudent security and operating practices, monitor local trendlines, and consider how property‑level improvements and resident engagement can further support stability as broader neighborhood conditions evolve.
Proximity to a diverse employment base supports workforce housing demand and commute convenience, led by nearby manufacturing, homebuilding, and corporate HQs listed below.
- Parker Hannifin Corporation — manufacturing & engineering (3.0 miles)
- D.R. Horton — homebuilding corporate offices (6.3 miles) — HQ
- Ball Metal Beverage Packaging — packaging manufacturing (8.9 miles)
- American Airlines Group — airline corporate (23.3 miles) — HQ
- Gamestop — retail corporate (23.4 miles) — HQ
This 32‑unit, 1972‑vintage asset offers value‑add potential in a renter‑oriented neighborhood where everyday amenities and employer access underpin steady demand. The immediate area shows a high share of renter‑occupied housing units, and within a 3‑mile radius both population and household counts have grown with further expansion projected, pointing to a larger tenant base and support for occupancy stability. Elevated ownership costs relative to local incomes further reinforce reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood rents have climbed over the past five years, suggesting revenue upside remains achievable with attention to affordability and retention.
Key considerations include the property’s older vintage, which warrants targeted capital improvements to remain competitive against newer stock, and neighborhood safety that trails metro averages despite recent improvement. Disciplined operations, focused renovations, and competitive positioning toward workforce renters should help balance leasing velocity with rent growth and retention.
- Renter‑heavy neighborhood and growing 3‑mile household base support demand and occupancy stability
- 1972 vintage creates clear value‑add and systems‑upgrade pathways versus 1980s+ competition
- Elevated ownership costs sustain renter reliance, aiding pricing power with careful lease management
- Nearby manufacturers and corporate HQs provide diverse employment and commute convenience
- Risks: below‑average neighborhood safety and mixed occupancy trends require prudent underwriting