| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3602 Eldridge St, Fort Worth, TX, 76107, US |
| Region / Metro | Fort Worth |
| Year of Construction | 1985 |
| Units | 100 |
| Transaction Date | 2018-01-09 |
| Transaction Price | $8,100,000 |
| Buyer | 3602 ELDRIDGE LLC |
| Seller | HJORTING FAMILY TRUST |
3602 Eldridge St Fort Worth Multifamily Opportunity
Renter concentration is high in the surrounding neighborhood, supporting a deep tenant base and steady leasing, according to WDSuite’s CRE market data. While occupancy trends reflect the neighborhood rather than this property, local demand drivers and everyday amenities point to durable renter interest.
Located in an inner-suburban pocket of Fort Worth, the property benefits from everyday convenience and service density that appeals to renters. Restaurant options are competitive among the 561 Fort Worth–Arlington–Grapevine neighborhoods (nationally in the upper percentiles), and groceries and pharmacies are similarly competitive locally, helping underpin leasing appeal and day-to-day livability.
Parks access also ranks competitive within the metro, adding lifestyle value that supports resident retention. While neighborhood occupancy is not top-tier nationally, the area shows a high share of renter-occupied housing units, indicating depth of demand for multifamily. These neighborhood metrics describe the area, not the property-specific occupancy.
The 1985 construction is somewhat newer than much of the surrounding housing stock from the late 1970s, suggesting potential to outperform older comparables with targeted upgrades while planning for mid-life building systems. Home values are relatively accessible in a local context, which can create some competition with ownership options, but the neighborhood’s renter concentration and service density support stable renter demand.
Within a 3-mile radius, WDSuite’s multifamily property research indicates population and household counts have grown and are projected to expand further over the next five years, pointing to a larger tenant base and continued leasing velocity. Rising incomes in the 3-mile area and ongoing rent growth trends reinforce pricing power potential, provided management aligns unit finishes and amenities with local expectations.
Area safety sits below national medians on both property and violent offense measures, based on WDSuite’s neighborhood benchmarks. Within the Fort Worth–Arlington–Grapevine metro (561 neighborhoods), overall crime positioning trends around the middle of the pack, indicating neither a top-quartile nor bottom-quartile outlier locally.
Recent year-over-year trends show improvement, with both violent and property offense rates moving downward. For investors, this suggests monitoring trajectory and block-by-block dynamics during due diligence, while recognizing that the comparative signals reference the broader neighborhood rather than the property itself.
Proximity to diversified employers supports commuter convenience and a broad renter pool, helping stabilize leasing and renewals. Key nearby employers include Parker Hannifin, D.R. Horton, Ball Metal Beverage Packaging, American Airlines Group, and GameStop.
- Parker Hannifin Corporation — manufacturing & engineering offices (2.6 miles)
- D.R. Horton — homebuilding HQ & corporate (4.3 miles) — HQ
- Ball Metal Beverage Packaging — packaging & manufacturing offices (7.0 miles)
- American Airlines Group — airline corporate (21.2 miles) — HQ
- Gamestop — retail & gaming corporate (21.6 miles) — HQ
Built in 1985 with 100 units, the asset is slightly newer than much of the nearby housing stock, creating value-add potential through selective interior and systems upgrades while positioning competitively against older properties. Neighborhood-level data point to a high share of renter-occupied units and strong daily conveniences (restaurants, groceries, pharmacies, parks), which together support tenant retention and occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends are moderate rather than top-tier, suggesting operational upside with focused management.
Within a 3-mile radius, population and households have grown and are projected to expand further over the next five years, implying a larger tenant base and support for rent growth. Local ownership costs are not extreme, which may introduce some competition from for-sale options; however, manageable rent-to-income dynamics at the neighborhood level can aid lease management and renewal strategies when paired with appropriate finish levels and amenities.
- High neighborhood renter concentration signals depth of tenant demand and supports leasing durability.
- 1985 vintage offers value-add and CapEx planning opportunities to outperform older local stock.
- Amenity-rich surroundings (food, groceries, parks, pharmacies) bolster retention and absorption.
- Growing 3-mile population and household counts expand the renter pool over the medium term.
- Risks: neighborhood safety ranks below national medians and occupancy is moderate; performance depends on execution and finish alignment.