| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 45th | Fair |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2805 Mustang Dr, Grapevine, TX, 76051, US |
| Region / Metro | Grapevine |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | 2006-06-22 |
| Transaction Price | $6,362,500 |
| Buyer | B & M RE INVESTMENTS LLC |
| Seller | METROPOLITAN VILLAGE LP |
2805 Mustang Dr, Grapevine Value-Add Multifamily
Neighborhood occupancy is solid and renter demand is supported by nearby corporate employment, according to WDSuite’s CRE market data. These dynamics point to steady leasing with upside from targeted renovations rather than reliance on speculative rent spikes.
Situated in Grapevine within the Fort Worth–Arlington–Grapevine metro, the neighborhood posts a high occupancy level (96.6%) and is in the top quintile nationally for occupancy stability. This indicates durable tenant stickiness at the neighborhood level rather than a single-asset anomaly, helping investors underwrite lower downtime assumptions.
Renter-occupied share in the neighborhood is 47.8%, signaling a deep tenant base for multifamily. Within a 3-mile radius, household incomes skew higher than many U.S. areas and the rent-to-income ratio around 0.20 suggests manageable affordability pressure—conditions that can support retention and measured pricing power for well-managed assets.
Livability drivers are anchored by daily-needs access: grocery store density ranks competitive in the metro and sits in the mid-90s nationally, while the limited cafe/restaurant counts reflect the neighborhood boundary more than regional choice. Average school ratings are low, which could temper demand from some family households, but strong employment access offsets this for workforce-oriented renters.
Vintage matters: built in 1973 versus a neighborhood average around 1982, the property is older stock. For investors, that points to capital planning for building systems and the potential to unlock value-add through unit and common-area upgrades to compete more effectively with newer supply.
Home values in the neighborhood are elevated relative to many U.S. areas, reinforcing renter reliance on multifamily and supporting lease retention. Demographic data aggregated within a 3-mile radius indicates near-term softness historically but a projected increase in households over the next five years, which would expand the local renter pool and support occupancy.
Safety trends are mixed when viewed locally versus nationally. Within the Fort Worth–Arlington–Grapevine metro, the neighborhood’s crime rank sits closer to the higher-incident side (ranked 55 among 561 metro neighborhoods). Nationally, however, overall crime benchmarks track above the median for safety (around the mid-60s percentile), suggesting comparatively better standing versus many U.S. neighborhoods.
Recent momentum is constructive: estimated year-over-year declines in both violent (-38.5%) and property offenses (-24.8%) indicate improving conditions. For underwriting, prudent measures such as lighting, access control, and resident engagement remain advisable, but the trendline supports stabilization rather than deterioration.
Proximity to major corporate offices underpins weekday traffic and supports renter demand from professionals seeking short commutes. Key nearby employers include GameStop, Stryker, Michaels, American Airlines Group, and Express Scripts.
- Gamestop — retail corporate HQ (1.7 miles) — HQ
- Stryker — medical technology offices (6.0 miles)
- Michaels Cos. — arts & crafts corporate (7.1 miles) — HQ
- American Airlines Group — airline corporate (7.3 miles) — HQ
- Express Scripts — pharmacy benefit management offices (7.8 miles)
This 1973, 52-unit asset aligns with a neighborhood that demonstrates strong multifamily fundamentals: high occupancy, a sizable renter-occupied base, and access to a diversified employment hub. Elevated for-sale home values sustain reliance on rental housing, while a manageable rent-to-income profile supports retention and incremental rent growth for renovated product. According to CRE market data from WDSuite, neighborhood-level occupancy performance sits well above many national peers, reinforcing the case for stable cash flow.
Forward-looking indicators are constructive. Within a 3-mile radius, projections call for an increase in households, expanding the tenant base. The older vintage implies near-term capex and a clear value-add pathway through modernization, positioning the property to capture demand from renters prioritizing commute convenience and upgraded finishes.
- High neighborhood occupancy supports leasing stability and lower downtime assumptions.
- Elevated home values reinforce rental demand and lease retention potential.
- Proximity to major employers provides a dependable renter pipeline.
- 1973 vintage offers value-add upside through targeted renovations and system upgrades.
- Risks: below-average school ratings and metro-relative crime rank warrant underwriting for security and tenant-mix strategy.