| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 30th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1723 Cimarron Trl, Wichita Falls, TX, 76306, US |
| Region / Metro | Wichita Falls |
| Year of Construction | 1993 |
| Units | 48 |
| Transaction Date | 2023-12-28 |
| Transaction Price | $2,660,000 |
| Buyer | FALLS REALTY LLC |
| Seller | CAMP REALTY LLC SERIES 100 |
1723 Cimarron Trl, Wichita Falls TX Multifamily Investment
Neighborhood occupancy is competitive within the Wichita Falls metro and renter concentration is meaningful, pointing to a stable tenant base at this location, according to WDSuite’s CRE market data.
This suburban pocket of Wichita Falls offers straightforward access to everyday needs but has limited immediate retail and leisure options, so residents typically rely on broader corridor amenities and auto commutes. Median contract rents in the neighborhood track in a mid-market range for the metro, and neighborhood occupancy is competitive among Wichita Falls neighborhoods (ranked 21 out of 58), supporting leasing stability for properties positioned with functional finishes and value-oriented pricing.
Construction in the area skews late-1980s on average. With a 1993 vintage, the asset is somewhat newer than the neighborhood norm, which can aid competitiveness versus older stock; however, its systems are still of an age where targeted renovations and capital planning remain relevant for investor underwriting.
Tenure dynamics are a favorable signal for multifamily demand: the share of housing units that are renter-occupied in the neighborhood is competitive among Wichita Falls neighborhoods (ranked 19 out of 58). Within a 3-mile radius, renter-occupied share is 45.9% today with forecasts indicating a larger renter pool by the next five-year window, alongside an increase in total households and smaller average household size. For investors, these factors point to a deeper tenant base and support for occupancy through cycles.
Home values in this part of Wichita County are lower than national norms, which can create some competition from ownership alternatives. Even so, rents remain relatively accessible versus local incomes (neighborhood rent-to-income ratio near one-fifth), which can aid lease retention and steady collections. Amenity density scores are low versus national peers, so marketing should emphasize value, convenience to employment corridors, and on-site features over walkability.
Safety indicators for the neighborhood are mixed relative to metro and national benchmarks. The neighborhood ranks 34 out of 58 among Wichita Falls areas on crime, which is below the metro median, and sits around the 41st percentile nationally. This suggests investors should underwrite standard security measures and active property management.
Recent trend data are nuanced: estimated violent offense rates have improved year over year, while estimated property offenses increased over the same period. Framing this comparatively and at the neighborhood level helps calibrate expectations and supports prudent operating practices rather than block-level conclusions.
Proximity to a modest but stable employment base helps support renter demand and commute convenience, with representation from building materials offices.
- Owens Corning — building materials offices (2.6 miles)
The property’s 1993 vintage positions it slightly newer than the neighborhood average, offering a practical platform for selective value-add to boost curb appeal and interiors while remaining competitive against older stock. Neighborhood occupancy is competitive within the metro, and within a 3-mile radius forecasts show a larger renter pool driven by household growth and smaller household sizes—factors that can underpin steady leasing and collections. Lower local home values may temper pricing power but can also sustain retention for value-oriented units.
Based on commercial real estate analysis supported by WDSuite’s CRE market data, investor underwriting should balance demand depth and competitive occupancy with conservative rent growth assumptions, routine capital plans appropriate for early-1990s assets, and attention to on-site security and amenity programming given limited nearby retail.
- Competitive neighborhood occupancy supports leasing stability
- 1993 vintage allows targeted value-add to out-position older stock
- 3-mile household growth and rising renter share expand tenant base
- Risk: limited nearby amenities and mixed safety metrics require proactive management
- Risk: lower ownership costs locally can cap rent growth; focus on retention and operations