| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 58th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 612 N Booth Calloway Rd, Hurst, TX, 76053, US |
| Region / Metro | Hurst |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | 2001-01-11 |
| Transaction Price | $5,278,800 |
| Buyer | HUNG PROPERTIES #3 LP |
| Seller | PLANTATION WEST PROPERTIES LTD PRTNRSHP |
612 N Booth Calloway Rd Hurst Multifamily Investment
Renter demand is durable with occupancy around neighborhood norms, according to WDSuite’s CRE market data, supporting income stability for a 48-unit 1985 asset in Hurst. Location fundamentals within the Fort Worth–Arlington–Grapevine metro offer steady leasing potential without reliance on luxury positioning.
This Inner Suburb neighborhood in the Fort Worth–Arlington–Grapevine metro carries a B rating and performs above the metro median overall (ranked 226 among 561 neighborhoods). Restaurant density scores in the 83rd percentile nationally, and parks access is strong (87th percentile), providing daily convenience and lifestyle appeal. In contrast, grocery and pharmacy availability within the neighborhood footprint is thin, so residents often draw from nearby corridors for essentials—an underwriting note for car-reliant tenants.
School quality is a relative strength: the neighborhood’s average rating is 4.0 out of 5 (84th percentile nationally), which can help with retention for family renters. The area skews toward smaller households (80th percentile nationally for smaller household size), aligning with a mix of one- to two-bedroom demand.
The property’s 1985 vintage is newer than the neighborhood’s average construction year of 1974. That positioning can be competitive versus older stock; however, investors should plan for selective system updates and common-area refreshes to remain compelling against nearby renovated comparables.
Renter concentration is high at the neighborhood level (renter-occupied share in the top 2% nationally), indicating a deep tenant base and potential leasing resilience. Neighborhood occupancy trends sit modestly above the national midpoint, suggesting stable absorption for well-managed assets.
Within a 3-mile radius, demographics indicate modest population growth and an increase in households, with projections calling for additional renter pool expansion over the next five years. Median home values are elevated for the area context, which can sustain reliance on rental housing, while a measured rent-to-income environment supports lease retention and manageable turnover risk.
Safety indicators trend favorably in context. The neighborhood’s safety profile is above the national median (around the mid-60s percentile nationwide), and recent year-over-year estimates show declining violent and property offense rates. These directional improvements suggest a supportive backdrop for leasing and resident retention versus more volatile submarkets.
At the metro scale, safety varies across Fort Worth–Arlington–Grapevine, so investors should benchmark against nearby comparables; however, the neighborhood’s national positioning and improving trends indicate competitive standing rather than an outlier risk zone.
Proximity to major employers supports workforce housing demand and commute convenience, with a cluster of corporate headquarters and regional offices within roughly 8–12 miles that can bolster leasing stability.
- D.R. Horton — homebuilding HQ (8.1 miles) — HQ
- Gamestop — retail HQ (9.3 miles) — HQ
- American Airlines Group — airline HQ (9.4 miles) — HQ
- Express Scripts — pharmacy benefit management (10.0 miles)
- Parker Hannifin Corporation — industrial/manufacturing offices (11.5 miles)
The investment case centers on steady renter demand in a B-rated Inner Suburb with above-median national safety positioning and a deep tenant base. Within a 3-mile radius, recent population gains and a rising household count point to a larger tenant pool ahead, supporting occupancy stability. The 1985 vintage offers a competitive edge versus older neighborhood stock, with an avenue for value-add through targeted interior and system updates rather than heavy redevelopment, and median home values in context help sustain reliance on rental housing.
Operating fundamentals are supported by neighborhood-level occupancy near the national midpoint and a measured rent-to-income backdrop (0.28) that can aid lease retention while leaving room for disciplined rent optimization as finishes are improved. According to WDSuite’s commercial real estate analysis, these dynamics are in line with broader metro patterns that favor well-maintained, mid-1980s assets positioned for light renovations.
- Deep renter base in a B-rated Inner Suburb supports demand and leasing durability.
- 1985 vintage competitive versus older stock, with value-add potential via targeted updates.
- Household growth within 3 miles expands the tenant pool, aiding occupancy stability.
- Measured rent-to-income environment supports retention and disciplined pricing power.
- Risk: limited on-foot access to groceries/pharmacies; underwriting should assume car-reliant residents and emphasize on-site conveniences.