| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 49th | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 708 Magnolia St, Kennedale, TX, 76060, US |
| Region / Metro | Kennedale |
| Year of Construction | 1980 |
| Units | 22 |
| Transaction Date | 2021-06-09 |
| Transaction Price | $125,000 |
| Buyer | IVEY JONES LLC |
| Seller | 201 SOUTH CALHOUN PARTNERS LLC |
708 Magnolia St, Kennedale 22-Unit Multifamily Investment
Neighborhood occupancy trends sit above the metro median and household incomes are strong, supporting rent coverage and tenant retention, according to WDSuite’s CRE market data. Positioning within suburban Tarrant County offers durable renter demand with measured growth rather than volatility.
Kennedale’s suburban setting offers a quieter residential environment with limited on-block retail; cafes, groceries, and parks are sparse within the immediate neighborhood. Investors should underwrite car-oriented living while noting everyday services are reached by short drives across southeast Tarrant County.
From a housing performance standpoint, neighborhood occupancy is above the metro median among 561 Fort Worth–Arlington–Grapevine neighborhoods, which supports near-term leasing stability. Median contract rents in the neighborhood track above national medians, yet rent-to-income ratios signal manageable levels for many local households, a constructive backdrop for pricing power and renewal retention based on CRE market data from WDSuite.
Tenure patterns point to a predominantly owner-occupied area at the neighborhood level, with a relatively low share of renter-occupied units. Within a 3-mile radius, the renter concentration is roughly one-third today and is forecast to edge lower by 2028, implying a narrower but steady renter pool; operators may benefit from targeted marketing and amenity programming to compete effectively with nearby ownership options.
Demographic signals within a 3-mile radius show population growth over the prior five years alongside rising household counts and incomes, with forecasts indicating continued household growth even as average household size trends lower. For multifamily, this suggests a larger tenant base formed by smaller households, which can support occupancy stability and lease-up predictability when matched with appropriately sized units and value-oriented finishes.
Safety indicators present a mixed but manageable profile. Relative to other neighborhoods in the Fort Worth–Arlington–Grapevine metro (561 neighborhoods), this area experiences higher crime than many peers. Nationally, however, composite safety metrics sit modestly above the median, indicating comparatively better outcomes than a broad cross-section of U.S. neighborhoods.
Trend-wise, recent data from WDSuite shows a year-over-year decline in violent offenses, while property offenses have increased. For investors, this argues for standard security measures, lighting, and resident engagement to support retention, while monitoring local enforcement trends and property management practices over the hold period.
The employment base nearby is diversified across manufacturing, homebuilding, aerospace, and healthcare services, supporting commuter-friendly renter demand. Notable employers within typical commuting distance include Ball Metal Beverage Packaging, D.R. Horton, Parker Hannifin, American Airlines Group, and Express Scripts.
- Ball Metal Beverage Packaging — manufacturing (5.3 miles)
- D.R. Horton — homebuilding (9.5 miles) — HQ
- Parker Hannifin Corporation — diversified industrials (12.7 miles)
- American Airlines Group — airlines & corporate operations (15.7 miles) — HQ
- Express Scripts — healthcare services (15.9 miles)
708 Magnolia St offers a suburban Kennedale location with neighborhood occupancy above the metro median, supported by strong local incomes and manageable rent-to-income ratios. Within a 3-mile radius, household counts have risen and are projected to continue increasing even as average household size trends lower, pointing to a steady renter pool and potential for durable lease-up and renewal performance. According to WDSuite’s commercial real estate analysis, rents are competitive for the metro, and the area’s ownership costs help sustain reliance on rental housing despite a lower neighborhood-level renter concentration.
The property’s 1980 vintage suggests attention to aging systems and common-area modernization can unlock value-add upside while maintaining competitive operating expenses. Nearby corporate employers broaden the commuter tenant base, but limited immediate amenities and mixed safety trends argue for measured underwriting, focused resident services, and cost-effective curb-appeal enhancements.
- Above-metro neighborhood occupancy supports leasing stability and renewal potential
- Rising 3-mile household counts and incomes expand the tenant base over time
- 1980 vintage offers value-add potential through system updates and unit refreshes
- Proximity to diversified employers underpins workforce renter demand
- Risks: lower neighborhood renter concentration, limited nearby amenities, and mixed safety trends require disciplined operations