| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 50th | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1111 S Red River Expy, Burkburnett, TX, 76354, US |
| Region / Metro | Burkburnett |
| Year of Construction | 2007 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1111 S Red River Expy Burkburnett Multifamily Investment
Stabilized renter demand and tight neighborhood occupancy point to steady leasing performance, according to WDSuite’s CRE market data. With 2007 construction and 90 units, the asset competes well against older local stock.
Neighborhood dynamics and demand drivers
The property is in a Rural setting within the Wichita Falls, TX metro and rates B+ overall. At a neighborhood rank of 19 out of 58, performance is competitive among Wichita Falls neighborhoods, signaling solid fundamentals without relying on premium, urban amenity density.
Neighborhood occupancy is high and has strengthened in recent years, with levels in the top quartile nationally and near the top of the metro. This backdrop supports lease-up efficiency and helps reduce downtime risk for operators focused on stable cash flow.
Renter-occupied share in the immediate neighborhood is modest, indicating a thinner but durable tenant base; within a 3-mile radius, renter concentration is higher, which broadens the leasing pool. Median contract rents in the neighborhood benchmark below national norms, which can aid retention and pricing flexibility for value-oriented units.
The asset’s 2007 vintage is newer than the neighborhood’s average construction year (1985), suggesting relative competitiveness versus older inventory; investors should still plan for mid-life systems updates and selective renovations to sustain positioning. Amenities are limited locally (few cafes, parks, or restaurants per square mile), but everyday services like pharmacies are reasonably accessible by metro standards.
Within a 3-mile radius, recent data show slight population and household softness historically, while forward-looking projections indicate population growth and a notable increase in households through 2028. For multifamily operators, that trajectory implies a larger tenant base over time and supports occupancy stability if additional supply remains measured.
Home values are lower relative to many U.S. markets, which can introduce some competition from ownership; however, this also positions well-priced rentals as accessible options, supporting lease retention and steady absorption for workforce-oriented product.
Safety context
Relative to neighborhoods nationwide, the area scores in a high national percentile for violent-offense safety, and performance is above the metro average. This indicates a comparatively favorable safety profile at the neighborhood level.
Property offenses track better than many U.S. neighborhoods but have shown a recent year-over-year uptick. Investors should interpret this as a monitoring item rather than a structural concern, using standard measures (lighting, access control, coordination with local management) to maintain on-site conditions in line with tenant expectations.
All safety metrics are measured at the neighborhood scale within the Wichita Falls metro (58 neighborhoods total) and compare against national distributions; localized, block-level conditions can vary.
Regional employment includes manufacturing and building materials, with proximity that supports commute convenience and renter demand. Notably, Owens Corning is within a reasonable drive.
- Owens Corning — building materials (9.9 miles)
Investment thesis
This 90-unit, 2007-vintage asset benefits from a neighborhood with high occupancy and rent levels below national norms, aligning with value-oriented demand. Newer-than-average construction versus the local stock improves competitive positioning, while mid-life systems may warrant targeted capital to sustain appeal.
Near-term leasing fundamentals are supported by strong neighborhood occupancy and, within a 3-mile radius, forecasts showing population growth and a meaningful increase in households—indicators of a larger tenant base over time. According to CRE market data from WDSuite, local occupancy outperforms metro norms, reinforcing an expectation of steady resident retention if supply additions stay modest.
- High neighborhood occupancy supports stable cash flow and reduced downtime
- 2007 vintage offers a competitive edge over older local inventory
- Value-oriented rent positioning aids retention and pricing flexibility
- Key watch items: limited nearby amenities, some ownership competition, and recent property-crime uptick