| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 42nd | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3120 Forest Park Blvd, Fort Worth, TX, 76110, US |
| Region / Metro | Fort Worth |
| Year of Construction | 2013 |
| Units | 42 |
| Transaction Date | 2010-09-15 |
| Transaction Price | $801,900 |
| Buyer | MCCART FOREST LLC |
| Seller | PARK MCCART INVESTMENT COMPANY LLC |
3120 Forest Park Blvd Fort Worth Multifamily Investment
Newer construction and strong neighborhood amenities support renter demand and potential leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy signals are softer, so disciplined operations and targeted positioning should matter for returns.
The property sits in an Inner Suburb location that ranks in the top quartile among 561 metro neighborhoods (A- overall). Amenity depth is a clear strength: neighborhood data shows high national standing for grocery access, restaurants, parks, and pharmacies, which typically reinforces day-to-day livability and leasing appeal for multifamily communities.
Construction in the area skews older (average 1983), while this asset’s 2013 vintage positions it competitively versus much of the nearby stock. That can help with tenant attraction and rent positioning, though investors should plan for routine system updates as the asset ages.
Renter concentration at the neighborhood level is elevated, indicating a deeper base of renter-occupied housing units and supporting demand for apartments. By contrast, the neighborhood’s occupancy level tracks below national norms, suggesting that asset-level performance will benefit from focused leasing, renewal management, and targeted concessions strategy where warranted.
Within a 3-mile radius, population has grown modestly and households have risen more noticeably, expanding the tenant base. Forward-looking data points to additional household growth and a slight reduction in average household size through 2028, which can support multifamily absorption and occupancy stability.
Ownership costs in the area are comparatively high relative to incomes, with home values elevated versus national benchmarks. This context typically sustains reliance on rental housing and can aid pricing power, while the neighborhood’s higher rent-to-income ratios point to affordability pressure that warrants careful lease management and renewal tactics.
Neighborhood safety indicators present a mixed but improving picture. On a metro basis, the area ranks in the top quartile among 561 Fort Worth–area neighborhoods, while national comparisons are closer to midpack for violent incidents and weaker for property incidents. Recent trend data indicates meaningful year-over-year declines in both violent and property offenses, which is a constructive directional signal. As always, safety conditions can vary within small geographies, so investors should pair these neighborhood-level trends with property-specific measures and management practices.
- D.R. Horton — homebuilding HQ (3.7 miles) — HQ
- Ball Metal Beverage Packaging — packaging (4.5 miles)
- Parker Hannifin Corporation — industrial components (4.8 miles)
- American Airlines Group — airline HQ (19.5 miles) — HQ
- Express Scripts — pharmacy services (19.9 miles)
Nearby corporate employment spans homebuilding, packaging, industrial components, and major airline headquarters, providing a broad white-collar and skilled operations base that supports renter demand and commute convenience for the submarket.
3120 Forest Park Blvd combines a 2013 vintage with a neighborhood that offers strong daily conveniences and a deep renter base. The asset’s newer construction stands out versus nearby 1980s-era stock, supporting competitive positioning, while the Inner Suburb location benefits from robust grocery, restaurant, park, and pharmacy access that can bolster leasing and retention. Neighborhood occupancy runs softer, so outcomes should hinge on disciplined marketing, renewal strategy, and asset-level execution.
Within a 3-mile radius, modest population growth and faster household growth expand the potential tenant pool, with projections indicating continued household increases and slightly smaller household sizes through 2028. Elevated ownership costs relative to incomes tend to sustain rental demand, but higher rent-to-income ratios point to affordability pressure; according to WDSuite’s commercial real estate analysis, this mix favors steady demand with a need for careful pricing and renewal management.
- 2013 vintage offers competitive positioning versus older neighborhood stock, with manageable modernization planning
- Strong nearby amenities (grocery, restaurants, parks, pharmacies) support leasing and retention
- Expanding household base within 3 miles grows the renter pool and supports occupancy stability
- Elevated ownership costs reinforce rental demand; maintain disciplined pricing to manage rent-to-income pressure
- Risk: neighborhood-level occupancy is softer, requiring proactive leasing and renewal strategies