| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 70th | Best |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2501 Heritage Ave, Grapevine, TX, 76051, US |
| Region / Metro | Grapevine |
| Year of Construction | 2004 |
| Units | 109 |
| Transaction Date | 2018-04-13 |
| Transaction Price | $21,500,000 |
| Buyer | Grapevine Autumn Leaves LP, |
| Seller | IVQ Grapevine LP, et al |
2501 Heritage Ave Grapevine Multifamily Investment Opportunity
Neighborhood occupancy is strong and supports leasing stability; according to WDSuite’s CRE market data, a high renter concentration and solid grocery access underpin steady renter demand in this Urban Core pocket of Grapevine.
The property’s 2004 vintage is newer than the neighborhood’s average construction year of 1999, which helps competitive positioning versus older stock while still warranting mid‑life system planning and selective modernization for future rentability.
Operationally, the neighborhood’s occupancy rate is 97.7% and sits in the 87th national percentile, indicating top‑quartile stability nationally and above-metro performance among 561 Fort Worth–Arlington–Grapevine neighborhoods. The renter-occupied share is high at the neighborhood level (approximately 85%), pointing to a deep tenant base and durable multifamily demand.
Livability signals are mixed but functional for renters. Grocery access is strong (ranked 45 of 561 in the metro; 91st percentile nationally), while other on‑block amenities such as parks, pharmacies, childcare, and cafes are thinner inside the immediate neighborhood footprint; residents typically rely on nearby corridors for those needs. Median contract rents and a rent‑to‑income ratio around 0.28 at the neighborhood level suggest manageable affordability pressures that can support retention with disciplined lease management.
Within a 3‑mile radius, demographics point to a larger and increasingly affluent renter pool over the forecast horizon. Despite a modest population dip in recent years, household counts edged higher and are projected to grow materially by 2028, alongside rising median incomes. Elevated home values in the neighborhood context ($424,100 median) indicate a high‑cost ownership market, which tends to reinforce reliance on multifamily housing and supports pricing power when paired with occupancy stability, based on commercial real estate analysis from WDSuite.
Safety indicators show a mixed but improving profile. Relative to 561 metro neighborhoods, the neighborhood’s crime rank of 231 suggests higher‑than‑metro‑median incident levels, and its national safety positioning is below average (43rd percentile). However, property offenses are trending better, with an estimated year‑over‑year decline of about 30% and an improvement profile that sits in the stronger tiers nationally.
Violent‑offense measures are less favorable, with a lower national percentile and a recent uptick on the year‑over‑year trend. For investors, this calls for pragmatic security measures and resident‑experience management, while recognizing that recent reductions in property offenses can support leasing confidence if sustained. All figures reflect neighborhood‑level comparisons rather than block‑level risk.
Proximity to corporate anchors supports commute convenience and broad renter demand, including retail headquarters, medical devices, airlines, and pharmacy benefit management offices listed below.
- Gamestop — retail headquarters (1.4 miles) — HQ
- Stryker — medical devices (5.8 miles)
- Michaels Cos. — arts & crafts retail (6.7 miles) — HQ
- American Airlines Group — airline headquarters (7.1 miles) — HQ
- Express Scripts — pharmacy benefit manager (7.6 miles)
2501 Heritage Ave offers a 109‑unit, 2004‑built asset in Grapevine with neighborhood occupancy in the top quartile nationally and a deep renter base. The combination of elevated ownership costs locally and strong grocery access supports renter reliance on multifamily, while the asset’s newer‑than‑average vintage can compete effectively against older product with targeted updates. According to CRE market data from WDSuite, neighborhood rent levels and a rent‑to‑income ratio around 0.28 point to manageable affordability pressure that can aid retention when paired with disciplined renewals.
Within a 3‑mile radius, households have grown despite a modest population dip, and are projected to expand meaningfully alongside rising incomes—conditions that typically expand the renter pool and support occupancy stability. Nearby corporate anchors broaden the employment base, underpinning leasing velocity across economic cycles, though investors should account for uneven amenity depth within the immediate neighborhood and mixed safety trends with appropriate operational strategies.
- Top‑quartile neighborhood occupancy nationally supports leasing stability
- 2004 vintage offers competitive positioning versus older stock with targeted value‑add potential
- Elevated home values reinforce renter reliance on multifamily, aiding pricing power
- 3‑mile household and income growth projections expand the tenant base
- Risks: thinner on‑foot amenities and mixed safety trends call for focused operations