| 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 | 114 |
| Transaction Date | 2014-04-24 |
| Transaction Price | $4,566,000 |
| Buyer | BURKBURNETT OPERATING LLC |
| Seller | BRE-1 INC |
1111 S Red River Expy Burkburnett Multifamily Investment
Neighborhood occupancy is high and has outperformed much of the Wichita Falls metro, supporting stable cash flows for a 2007, 114-unit asset, according to WDSuite’s CRE market data. These are neighborhood conditions, not property-level operations.
Located in a rural-edge setting of the Wichita Falls, TX metro, the neighborhood posts strong occupancy conditions relative to peers. With an occupancy rank of 3 out of 58 metro neighborhoods and an 85th percentile standing nationally, the area sits in the top quartile for occupancy — a constructive backdrop for lease retention and pricing discipline at multifamily communities.
Livability is modest but serviceable. Amenity coverage ranks 26 of 58 — above the metro median — yet national amenity access sits in lower percentiles, reflecting limited cafes, parks, and childcare within close reach. Pharmacy access ranks 11 of 58 and is above national mid-pack, which helps daily convenience even if broader retail density is light.
The buildings 2007 vintage is newer than the neighborhoods average construction year of 1985. For investors, this typically means competitive positioning versus older stock and potentially lower near-term capital intensity, while still budgeting for mid-life system upgrades and common-area refreshes to sustain absorption and rent levels.
Within a 3-mile radius, demographics indicate a slightly smaller resident base than five years ago but with income gains and a renter concentration around one-third of housing units. Forecasts point to a larger household count and rising incomes by 2028, suggesting a broader tenant base and support for occupancy stability even as household sizes rise. Median home values are comparatively accessible for ownership in this metro, which can introduce some competition for renters, but a low rent-to-income ratio and steady neighborhood occupancy mitigate retention risk by keeping monthly rents relatively manageable for local households.
Safety signals are comparatively favorable in a metro context. The neighborhoods overall crime rank sits at 15 out of 58 Wichita Falls neighborhoods, indicating better-than-average conditions locally. Violent offense metrics benchmark in the top quartile nationally (95th percentile), positioning the area among the safer cohorts when compared across U.S. neighborhoods.
Property offense levels also benchmark well nationally (above the 80th percentile), though recent year-over-year volatility was elevated. Investors should weigh the positive long-run positioning against shorter-term fluctuations and continue to monitor trend direction with updated reports. All safety references are neighborhood-level, not specific to the property or block.
Employment access is weighted toward regional industrial and corporate services, supporting commuter convenience for workforce-oriented renters. The employers listed below reflect nearby demand drivers relevant to leasing stability.
- Owens Corning manufacturing (9.9 miles)
The assetbuilt in 2007 with 114 unitsbenefits from a neighborhood that ranks near the top for occupancy within the Wichita Falls metro and benchmarks in the top quartile nationally. This supports leasing durability and reduces downtime risk relative to older submarkets. Based on commercial real estate analysis from WDSuite, the 3-mile area shows rising incomes and an expanding household base in the outlook period, which should widen the renter pool and help sustain occupancy.
While ownership remains comparatively accessible locally, a low rent-to-income profile and solid neighborhood occupancy suggest stable tenant retention for well-managed properties. Investors should underwrite moderate capital for mid-life updates consistent with a 2007 vintage and remain attentive to amenity-light dynamics and recent variability in property offense trends.
- High neighborhood occupancy (top-quartile nationally) supports leasing stability
- 2007 vintage offers competitive positioning versus older local stock with manageable mid-life capex
- 3-mile outlook indicates household and income growth, expanding the renter base
- Favorable rent-to-income dynamics aid retention and reduce turnover pressure
- Risks: limited amenity density and recent property offense volatility warrant ongoing monitoring