| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 79th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3001 E Ave K, Grand Prairie, TX, 75050, US |
| Region / Metro | Grand Prairie |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2017-09-28 |
| Transaction Price | $10,500,000 |
| Buyer | Yu Han |
| Seller | Meadowg Properties, LLC |
3001 E Ave K Grand Prairie Multifamily Investment
Neighborhood occupancy trends are steady and renter demand is supported by a sizable tenant base, according to WDSuite s CRE market data for the area. These indicators reflect submarket-level stability rather than property performance and point to durable income potential with prudent operations.
Grand Prairie s suburban location within the Fort Worth Arlington Grapevine metro offers scale and commuter access that supports multifamily leasing. Neighborhood-level occupancy is measured at 95.0% (above many U.S. areas), and should be interpreted as a local benchmark rather than a property metric, based on CRE market data from WDSuite. Median home values in the neighborhood are elevated relative to many markets, which tends to sustain reliance on rental housing and can support pricing discipline when managed against retention.
Within a 3-mile radius, WDSuite data indicates household counts have increased in recent years with forecasts pointing to notable growth in households over the next five years alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for well-managed assets.
The area s renter-occupied share within a 3-mile radius is roughly two-thirds, signaling deep tenant demand for multifamily product and a broad base for lease-up and renewals. Median household incomes and a high share of residents with bachelor s degrees (top tier nationally) further reinforce collections resilience and demand for quality, professionally managed units.
Amenity density in the immediate neighborhood is comparatively limited (few cafes, groceries, parks per square mile), so car access remains important for residents; investors should underwrite convenience features on-site and connectivity to regional job centers. The property s 1980 vintage is newer than the neighborhood s average construction year (1974), offering relative competitiveness versus older stock, while still warranting targeted system upgrades or value-add renovations to meet current renter expectations.
Safety indicators for the neighborhood are mixed when benchmarked across the Fort Worth Arlington Grapevine metro. The neighborhood s overall crime rank is 191 out of 561 metro neighborhoods, which is below the metro median for safety. Nationally, violent offense levels align closer to the lower percentiles, while property offenses sit nearer the middle of the national distribution.
Trendwise, WDSuite reports a sharp year-over-year decline in estimated property offenses (top quintile improvement nationally), which is a constructive directional signal. Investors should still underwrite appropriate security measures and resident-experience practices given that the area does not sit in the top quartile nationally for safety.
Proximity to major employers creates a broad commuter tenant base, supporting lease stability and renewals. Nearby corporate nodes include Express Scripts, American Airlines Group, Kimberly Clark, Celanese, and GameStop.
- Express Scripts pharmacy benefits (3.6 miles)
- American Airlines Group aviation HQ & operations (3.8 miles) HQ
- Kimberly-Clark consumer products (8.7 miles) HQ
- Celanese chemicals & materials (9.1 miles) HQ
- GameStop retail & ecommerce (9.5 miles) HQ
3001 E Ave K combines metro-scale employment access with neighborhood occupancy strength and a deep renter base. The 1980 construction is slightly newer than the area s average stock, giving it a competitive position versus older comparables while still leaving scope for targeted capital upgrades. According to CRE market data from WDSuite, the neighborhood s occupancy runs solid and median home values are comparatively elevated, which together support consistent demand for well-managed rental housing.
Within a 3-mile radius, forecasts show growth in households and smaller average household sizes, which typically expands the renter pool and supports leasing velocity. Amenity density is lighter locally and safety ranks are below the metro median, so underwriting should include on-site convenience and security programming alongside value-add scopes aimed at rent-ready modernization.
- Steady neighborhood occupancy and deep renter base support income durability
- 1980 vintage offers relative competitiveness with clear value-add pathways
- Access to major employment centers underpins demand and retention
- Elevated neighborhood home values reinforce reliance on rental housing
- Risks: amenity-light micro-location and below-median metro safety warrant prudent operations