| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 45th | Fair |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3101 Mustang Dr, Grapevine, TX, 76051, US |
| Region / Metro | Grapevine |
| Year of Construction | 2003 |
| Units | 90 |
| Transaction Date | 2009-12-22 |
| Transaction Price | $7,200,000 |
| Buyer | Navika Capital Group, LLC |
| Seller | GCF-OP, LP |
3101 Mustang Dr Grapevine Multifamily Investment
Stabilized renter demand and above-average neighborhood occupancy support predictable operations, according to WDSuite’s CRE market data. The 2003 vintage offers competitive positioning versus older local stock with potential to capture steady leasing in a high-cost ownership market.
Grapevine’s Urban Core setting shows durable renter demand signals for multifamily. Neighborhood occupancy is strong (top-tier nationally), and nearly half of housing units are renter-occupied, indicating a deep tenant base for a 90-unit asset. According to WDSuite’s commercial real estate analysis, the area’s median home values are elevated relative to national norms, which tends to sustain reliance on rental housing and support lease retention.
Amenity access is mixed. Grocery and childcare density rank among the strongest in the metro and score in high national percentiles, which supports daily convenience for residents. However, counts for cafes, restaurants, parks, and pharmacies are comparatively limited within the immediate neighborhood, so the amenity set is more essentials-oriented than leisure-focused.
Within a 3-mile radius, demographics signal a broadening renter pool over the medium term. While population has been roughly stable recently, WDSuite data indicate projected population growth and a notable increase in households through 2028, which typically expands the base of prospective renters and supports occupancy stability. Household incomes skew higher than national averages, and rent levels in the area have trended up, reinforcing pricing power for well-maintained assets.
School ratings in the neighborhood track below national averages, which can modestly temper appeal for some family renters. That said, the combination of strong occupancy, higher-income households within 3 miles, and an above-median neighborhood NOI per unit baseline positions well-located properties to compete for quality tenants.
Safety indicators compare favorably to national norms for similar neighborhoods. Based on CRE market data from WDSuite, the neighborhood’s safety profile sits above the national median, and both violent and property offense estimated rates decreased over the last year. As with any urban-core location, investors should underwrite typical precautions and monitor submarket trends over time.
- Gamestop — video game retail (1.9 miles) — HQ
- Stryker — medical devices (6.1 miles)
- Michaels Cos. — arts & crafts retail (7.3 miles) — HQ
- American Airlines Group — airline (7.4 miles) — HQ
- Express Scripts — pharmacy benefit management (7.9 miles)
Constructed in 2003, the property is newer than the neighborhood’s average vintage, which supports competitive positioning against older stock while leaving room for targeted renovations as systems age. Neighborhood occupancy is high and renter concentration is substantial, suggesting a durable tenant base and stable leasing. Elevated ownership costs nearby further reinforce rental demand and can support rent growth for well-kept, correctly amenitized assets.
Within 3 miles, WDSuite data point to projected population growth and a meaningful increase in households by 2028, implying a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, the area’s rent trajectory has been upward, aligning with higher household incomes and above-median NOI dynamics at the neighborhood level. Key underwriting considerations include the essentials-heavy amenity mix and lower average school ratings, which may influence marketing strategy and product positioning.
- 2003 vintage enhances competitiveness versus older local stock with selective value-add potential
- High neighborhood occupancy and sizable renter-occupied share support leasing stability
- Elevated home values in the area sustain reliance on rentals and pricing power
- 3-mile outlook shows population and household growth, expanding the tenant base
- Risks: limited leisure amenities and below-average school ratings may temper appeal for some households