| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 69th | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 924 Hemphill St, Fort Worth, TX, 76104, US |
| Region / Metro | Fort Worth |
| Year of Construction | 1976 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
924 Hemphill St Fort Worth Multifamily Investment
Renter concentration in the neighborhood supports a durable tenant base, while leasing performance may hinge on active management, according to WDSuiteâs CRE market data. Positioning near strong amenity density can aid retention and reduce turnover risk.
The property sits in an Inner Suburb area of Fort Worth that rates "A" and ranks 58 out of 561 metro neighborhoods, placing it in the top quartile among Fort Worth-Arlington-Grapevine submarkets by overall neighborhood quality based on CRE market data from WDSuite. Dining and daily-needs density is a clear strength: restaurants rank 2 of 561 (98th percentile nationally), cafes rank 9 of 561 (96th percentile nationally), and pharmacies rank 1 of 561 (top percentile nationally). Grocery and park access are thinner at the neighborhood level, which may slightly shift resident shopping and recreation patterns to nearby districts.
Multifamily demand is supported by a high share of renter-occupied housing units in the neighborhood (occupancy rental share ranks 69 of 561; 93rd percentile nationally), indicating depth in the tenant base. At the same time, neighborhood occupancy performance ranks 551 of 561 (13th percentile nationally), signaling potential leasing competition and the need for hands-on operations to stabilize and retain residents. Median contract rent in the neighborhood sits at a level that is above many U.S. areas (83rd percentile nationally), suggesting some pricing power but also calling for careful lease management as rents move with the market.
Within a 3-mile radius, demographics point to a larger renter pool over time: population increased in recent years and is projected to rise further over the next five years, with households growing faster than populationâimplying smaller household sizes and more renters entering the market. Median and mean household incomes have trended higher, and forecasted gains support rentability for quality units. A rent-to-income ratio around the neighborhood level indicates manageable affordability pressure for many renter households, though renewal strategies should stay sensitive to retention risk.
Home values in the neighborhood are elevated relative to incomes (value-to-income rank 25 of 561; 87th percentile nationally), creating a high-cost ownership market that tends to sustain rental demand and lengthen renter tenure. Average school ratings are above national norms (75th percentile), which can aid family renter retention. The average construction year in the neighborhood is 1965; this assetâs 1976 vintage is somewhat newer than local stock but still mid-1970s eraâinvestors should underwrite ongoing system updates and selective renovations to remain competitive against newer deliveries.
Safety indicators for the neighborhood are weaker than many parts of the metro. Overall crime ranks 405 out of 561 Fort Worth-area neighborhoods (29th percentile nationally), placing the area below the metro average for safety. That said, recent trend data shows modest year-over-year improvement, which investors can factor into expectations for resident sentiment and leasing.
Property offenses sit in a lower national percentile and violent offense levels are also in lower percentiles nationally, while both categories have shown slight one-year declines. For underwriting, frame expectations around enhanced property management practices and security measures rather than relying on rapid change at the neighborhood level.
Nearby employers span homebuilding, industrial manufacturing, beverage packaging, airline corporate, and pharmacy benefit management, supporting a diverse commuter base and helping stabilize renter demand through varied economic cycles.
- D.R. Horton â homebuilding HQ (1.5 miles) â HQ
- Parker Hannifin Corporation â industrial manufacturing (4.35 miles)
- Ball Metal Beverage Packaging â beverage packaging (5.97 miles)
- American Airlines Group â airline holding company (17.55 miles) â HQ
- Express Scripts â pharmacy benefit management (18.03 miles)
924 Hemphill St offers exposure to a renter-heavy Fort Worth neighborhood with strong amenity density and proximity to major employers. While the neighborhoodâs occupancy rank indicates leasing competition, the combination of rising household counts within a 3-mile radius, above-average school ratings, and a high-cost ownership environment supports depth in the tenant base. According to CRE market data from WDSuite, the areaâs rent positioning sits above many U.S. locations, reinforcing revenue potential where quality and management execution are strong.
Built in 1976, the asset likely benefits from competitive unit layouts versus older local stock while still warranting capital planning for systems and targeted renovations to drive rentability. Investors should lean on operational disciplineâmarketing, renewals, and curb appealâto capture demand from a growing and diversified workforce drawn by nearby corporate anchors.
- Renter-occupied concentration and growing 3-mile household base support demand depth and occupancy stability.
- Amenity-rich location (dining, cafes, pharmacies) enhances retention and leasing velocity.
- High-cost ownership market favors multifamily tenancy and can bolster pricing power.
- 1976 vintage presents value-add potential through selective renovations and system upgrades.
- Risk: Neighborhood occupancy rank is weak; performance depends on active management, security, and differentiated product.