| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 54th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Mary Dr, Iowa Park, TX, 76367, US |
| Region / Metro | Iowa Park |
| Year of Construction | 1980 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1000 Mary Dr Iowa Park Multifamily Investment
Neighborhood occupancy is strong and stable, supporting cash flow durability, according to WDSuite's CRE market data. Renter concentration is modest in this area, so positioning and value-add execution matter for capturing demand.
Situated in the Wichita Falls metro, the neighborhood posts about 96% occupancy at the neighborhood level, placing it in the top quartile nationally and among the stronger local areas based on CRE market data from WDSuite. That backdrop supports lease stability for a 72-unit asset like 1000 Mary Dr.
Renter-occupied housing accounts for a relatively small share of units in this neighborhood, indicating a thinner but steady tenant base; consistent occupancy trends suggest demand is present when product is well-maintained and appropriately priced. Median household incomes trend higher than many national peers, which can support collections and reduce turnover risk.
Local livability is defined by low retail and service density within the neighborhood itself, so residents typically rely on nearby corridors for groceries, cafes, and daily needs. Public schools in the area rate well versus national peers, which can aid retention for family renters and broaden the target renter profile.
The property’s 1980 vintage is slightly older than the neighborhood’s average construction year, pointing to practical capital planning and value-add potential (interiors, exteriors, systems) to remain competitive versus 1980s stock. Home values are more accessible relative to many metros, which can create some competition from ownership; in turn, multifamily positioning should emphasize convenience, low maintenance, and predictable housing costs.
Demographics within a 3-mile radius show relatively flat population alongside a modest uptick in households, implying smaller household sizes and a stable renter pool. Forward-looking projections indicate growth in both households and incomes, which would expand the tenant base and support occupancy over time if realized.
Safety indicators present a mixed but constructive picture. Within the Wichita Falls metro, this neighborhood sits on the higher-crime end of the local distribution among 58 neighborhoods, which warrants prudent security and lighting standards. At the same time, national comparisons place the area in a stronger percentile for both property and violent offense rates, and recent year-over-year trends point to declining incidents, according to WDSuite's CRE market data.
For investors, the takeaway is to underwrite sensible operating practices (lighting, access control, resident screening) while recognizing that broader trend data shows improvement and comparatively favorable standing versus many U.S. neighborhoods.
Nearby employment includes manufacturing-related corporate offices that support renter demand through steady blue-collar and technical roles, with Owens Corning as a notable presence.
- Owens Corning — building materials (10.9 miles)
1000 Mary Dr pairs neighborhood-level occupancy in the mid-90s with a 72-unit scale that supports operational efficiency in a lower-density part of the Wichita Falls metro. The 1980 vintage creates clear value-add levers—from interior upgrades to exterior and systems—to sharpen competitive positioning versus 1980s stock while supporting rent attainment and retention. According to CRE market data from WDSuite, schools rate well nationally and median incomes are comparatively strong, helping stabilize collections even with a modest renter share locally.
Key considerations include limited neighborhood amenities and a homeownership market that is relatively accessible, which can create competition for some cohorts. Underwriting should emphasize practical renovations, durable operations, and demand capture from nearby employment and family renters who value school quality and predictable housing costs.
- Stable neighborhood occupancy supports leasing durability and cash flow
- 1980 vintage offers actionable value-add and capital planning opportunities
- Strong school ratings and higher household incomes aid retention and collections
- Risks: limited neighborhood amenities and competition from ownership options