| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 64th | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 701 Johnson Rd, Iowa Park, TX, 76367, US |
| Region / Metro | Iowa Park |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
701 Johnson Rd Iowa Park Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data, with a rural setting that supports workforce housing in the Wichita Falls area.
Located in Iowa Park within the Wichita Falls, TX metro, the neighborhood is rated A- and ranks 13 out of 58 metro neighborhoods, placing it above the metro median and competitive among local peers. Amenities are modest for a rural area, but grocery, park, and pharmacy access track above many rural locations, while cafes and childcare are limited. Average school ratings are strong for the metro (top quartile locally and high nationally), which can support family-oriented renter retention.
Neighborhood occupancy is reported at 91.7% (neighborhood metric, not the property), suggesting a relatively stable leasing backdrop. The housing stock skews toward owners, with 3-mile-radius data indicating about 15% of housing units are renter-occupied — a smaller but defined tenant base that can support consistent absorption for well-positioned multifamily assets.
Within a 3-mile radius, recent trends show essentially flat population alongside a slight increase in households, implying smaller household sizes and a gradual broadening of the renter pool. Looking ahead, projections indicate growth in both households and population, a potential tailwind for multifamily demand if supply additions remain measured.
Ownership costs are relatively accessible in this submarket compared with national levels, which can moderate pricing power for rentals. For investors, that typically translates to a focus on operational efficiency, resident retention, and property differentiation rather than outsized rent push. The submarket’s school quality and everyday services help offset limited lifestyle amenities often seen in rural locations.
Safety signals are mixed and should be underwritten with recent local data. Compared with the Wichita Falls metro, the neighborhood’s crime rank sits in the less favorable half (12 out of 58, where lower ranks reflect higher crime), indicating investors should incorporate appropriate security and operating assumptions. Nationally, however, the area compares better than many peers, landing in higher safety percentiles for overall and violent offenses.
Trend-wise, property offenses improved sharply over the past year (strong positive movement in national rankings), while violent offense trends moved the other way. Taken together, the current profile suggests practical measures — lighting, access control, and resident engagement — can help sustain leasing performance, while ongoing monitoring of local conditions remains prudent.
The employment base draws from regional manufacturing and industrial employers that support workforce housing demand and reasonable commute times, including Owens Corning noted below.
- Owens Corning — building materials manufacturing (11.1 miles)
701 Johnson Rd is a 48-unit asset built in 1983, newer than the neighborhood’s average vintage. That positioning can offer a competitive edge versus older area stock, with potential to capture demand through targeted modernization of interiors, building systems, and curb appeal. Neighborhood occupancy sits in a healthy range and, based on CRE market data from WDSuite, local schools and everyday services compare well for a rural setting — a combination that can support retention and steady leasing.
Within a 3-mile radius, household counts have inched up as population held roughly flat, implying smaller household sizes and a steady renter pipeline; forward projections point to growth, which would expand the tenant base if realized. Ownership remains relatively accessible versus national benchmarks, so rent strategy should balance occupancy stability with measured pricing, emphasizing value, reliability, and operational efficiency.
- 1983 vintage offers competitive positioning versus older local stock, with clear modernization and value-add pathways.
- Neighborhood occupancy around the low-90s supports leasing stability for well-managed multifamily assets.
- 3-mile household growth and favorable school ratings bolster family-oriented renter retention potential.
- Risk: Accessible homeownership may temper pricing power; underwriting should prioritize retention and operating efficiency.