| 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 Value-Add
Neighborhood occupancy is solid and schools test well for the metro, suggesting steady leasing fundamentals, according to WDSuite’s CRE market data. With rents positioned against high local incomes, the thesis centers on durable cash flow with targeted upgrades.
Iowa Park sits in the Wichita Falls, TX metro with a Rural profile and limited retail and service density nearby. Neighborhood occupancy is strong at 96.3% (neighborhood-level, not property-specific), placing the area above many peers nationally and supportive of lease stability for well-managed assets.
Schools in this neighborhood rate favorably for the region (average rating 4.0 out of 5; top quartile nationally), a family-oriented signal that can reinforce tenant retention. Amenities are sparse locally, so on-site features and management convenience often matter more to residents than walkability.
The area’s renter concentration is comparatively low (about 14.8% of housing units are renter-occupied), which indicates a smaller multifamily tenant pool but also less direct competition from rentals. Median household incomes rank high within the metro, and a rent-to-income ratio around 0.12 points to manageable rent burdens—favorable for collections and renewal probability when pricing is disciplined.
Home values are lower relative to many U.S. markets, which makes ownership more accessible and can compete with rentals; however, this also sets clear price-to-value guardrails for multifamily, with tenant retention supported by convenience, school access, and maintenance-included living. Demographic statistics aggregated within a 3-mile radius show a stable population today and a modest increase in households, with forward projections indicating growth in both households and incomes—signals that can expand the renter pool and support occupancy over time.
Safety indicators at the neighborhood level compare well nationally: overall crime sits in roughly the top quartile for safety versus neighborhoods nationwide. Recent trends are moving in the right direction, with estimated violent offense rates down about 12.8% year over year and property offenses down roughly 45.6% year over year. These figures are neighborhood-level context, not property-specific, and conditions can vary within small areas.
For investors, the combination of comparatively strong national standing and improving annual trends supports underwriting assumptions for tenant retention and claims exposure, while still warranting standard risk controls and local diligence.
Employment access is oriented to regional commute nodes. Nearby industrial and corporate facilities provide a steady workforce draw that can support renter demand, notably Owens Corning within a practical drive.
- Owens Corning — building materials manufacturing (11.0 miles)
Built in 1980 across 72 units, the property presents a classic value-add profile: competitive in a market with high neighborhood occupancy and favorable school ratings, while vintage suggests targeted capital planning and modernization can unlock rent and renewal gains. Based on CRE market data from WDSuite, neighborhood occupancy sits above many national peers and rent burdens are modest relative to local incomes, supporting collections and retention.
Investor considerations include a smaller renter base given the area’s lower renter-occupied share and limited nearby amenities, which elevates the importance of on-site features, maintenance execution, and pricing discipline. Ownership is relatively accessible in the area, so competitive positioning should emphasize convenience, school access, and hassle-free living to sustain demand.
- High neighborhood occupancy and strong schools support leasing stability
- 1980 vintage offers clear value-add and modernization pathways
- Rent-to-income positioning favors collections and renewal probability
- Risk: smaller renter pool and car-dependent location require superior on-site experience
- Risk: relatively accessible homeownership can compete with rentals—pricing and service differentiation are key