| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 232 S Las Vegas Trl, Wht Settlemt, TX, 76108, US |
| Region / Metro | Wht Settlemt |
| Year of Construction | 1984 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
232 S Las Vegas Trl, Wht Settlemt TX Multifamily Opportunity
Positioned in a suburban pocket west of Fort Worth, this 76‑unit asset benefits from a broad renter base in the surrounding area and mid-market rents that support leasing durability, according to WDSuite’s CRE market data.
The property sits within a suburban neighborhood that scores around the metro median (ranked 284 of 561 Fort Worth–Arlington–Grapevine neighborhoods), offering practical livability for workforce renters without premium pricing. Amenity access is a relative strength: the area ranks in the top quartile among 561 metro neighborhoods for overall amenities, with grocery, restaurant, and childcare densities that track above national norms.
Local services are convenient for day-to-day needs. Grocery access is competitive (around the 85th percentile nationally), and dining and childcare options sit near the upper tier nationwide (both around the high‑70s to low‑80s percentiles). While formal school ratings are not reported here, the suburban setting and retail nodes nearby support routine errands and commute efficiency.
Renter demand should be considered at two scales. Within the immediate neighborhood, renter concentration is comparatively lower (29.2% of housing units are renter‑occupied), indicating a more owner‑occupied pocket that can temper near-site leasing depth. However, within a 3‑mile radius, 55.9% of housing units are renter‑occupied, creating a larger tenant pool that supports ongoing absorption and retention for multifamily assets.
Rent levels and affordability point to steady leasing conditions rather than outsized pricing power. Neighborhood median contract rents are mid‑market by national comparison (around the 51st percentile), and the rent‑to‑income ratio near 0.17 suggests manageable affordability that can aid renewals. Home values in the neighborhood are comparatively lower by national standards, which can introduce some competition from entry‑level ownership, but also positions rentals as accessible options for households prioritizing flexibility.
Vintage context matters for competitive positioning. With an average neighborhood construction year near 1979 and the subject asset built in 1984, this asset is slightly newer than the area’s older stock—offering a modest edge versus legacy properties—though investors should still plan for targeted system upgrades and common‑area refreshes to maintain leasing velocity.
Safety indicators are mixed but stable in context. The neighborhood’s crime rank sits near the metro middle (157 of 561 Fort Worth–Arlington–Grapevine neighborhoods), and national positioning is roughly mid‑pack overall. Notably, property offenses show a year‑over‑year decline, indicating improving trend lines that can support tenant retention and leasing consistency.
At a national level, the area’s relative standing is close to average for both property and violent offenses, with recent data signaling momentum in property‑crime improvement. As with any submarket, prudent on‑site measures (lighting, access control, and partnership with local patrols) remain important for maintaining community standards and protecting NOI.
Nearby employers span manufacturing, homebuilding, packaging, gaming retail, and airline corporate operations—creating a diversified employment base that supports commuter convenience and renter demand for workforce housing.
- Parker Hannifin Corporation — industrial manufacturing (4.1 miles)
- D.R. Horton — homebuilding (8.1 miles) — HQ
- Ball Metal Beverage Packaging — packaging (11.7 miles)
- Gamestop — retail/gaming (24.3 miles) — HQ
- American Airlines Group — airline corporate (24.8 miles) — HQ
This 1984, 76‑unit asset aligns with steady, workforce‑oriented demand drivers. The immediate neighborhood is more owner‑occupied, but the broader 3‑mile area skews renter‑heavy, expanding the tenant base and supporting occupancy stability. Amenity access is a relative strength versus metro peers, and neighborhood rents track mid‑market, helping balance pricing power with retention. According to CRE market data from WDSuite, neighborhood amenities rank competitively and property‑crime trends have improved year over year, while rent levels remain within manageable affordability bands for the area.
From an investment standpoint, the vintage is slightly newer than the neighborhood average, offering a small competitive edge versus older stock and potential to capture value through selective renovations. Key considerations include modest competition from entry‑level ownership and safety metrics that sit near the metro middle—manageable with standard asset management and on‑site measures.
- Renter pool expansion within 3 miles supports ongoing absorption and renewals
- Competitive amenity access versus metro peers underpins livability and leasing
- 1984 vintage offers light value‑add potential to strengthen positioning
- Mid‑market rents and manageable rent‑to‑income ratios aid retention
- Risks: owner‑occupied pocket may temper near‑site depth; safety near metro middle; some competition from entry‑level ownership