| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 59th | Good |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3005 Lansing Blvd, Wichita Falls, TX, 76309, US |
| Region / Metro | Wichita Falls |
| Year of Construction | 2009 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3005 Lansing Blvd Wichita Falls Multifamily Investment
2009-vintage, mid-sized asset positioned in an amenity-rich inner suburb, with a renter base supported by growing households within 3 miles and relatively manageable rent-to-income levels, according to WDSuite’s CRE market data. Neighborhood occupancy has softened, so leasing focus and pricing discipline remain important.
Livability and demand drivers: The neighborhood ranks first out of 58 in the Wichita Falls metro (A+ rating), reflecting strong local fundamentals. Amenity access is a clear advantage: cafes (ranked 1 of 58), grocery options (2 of 58), restaurants (4 of 58), and pharmacies (2 of 58) place the area in the top quartile metro-wide and competitive nationally. Park space and childcare options, however, are limited at the neighborhood level, which may factor into family-oriented leasing strategies.
Renter base and tenure: Neighborhood data indicate a moderate renter-occupied share (about one-third of housing units), suggesting a stable but not saturated pool for multifamily leasing. Within a 3-mile radius, renters comprise a larger share of occupied units, reinforcing depth for workforce-oriented product and supporting occupancy stability over time.
Demographics within 3 miles: Recent population growth and a projected increase in households over the next five years point to a larger tenant base and gradual renter pool expansion. Forecasts also indicate slightly smaller household sizes, which can favor well-laid-out one- and two-bedroom product and support steady absorption.
Affordability context: Neighborhood home values sit below national norms, while the rent-to-income ratio trends around the low 20s, indicating manageable affordability pressure that can aid lease retention but may limit near-term pricing power. This is consistent with balanced, value-oriented renter demand rather than a premium pricing profile, based on CRE market data from WDSuite.
Asset positioning and vintage: With a 2009 construction year against a neighborhood average around the late 1980s, the property is newer than much of the local stock—supporting competitive positioning versus older assets. Investors should still plan for targeted capital to keep systems and finishes current as the asset moves through its second decade.
Safety indicators sit near the metro middle when compared with 58 Wichita Falls neighborhoods. On a national basis, the neighborhood reads below average for safety; however, both violent and property offense estimates show year-over-year improvement, pointing to a favorable directional trend rather than a static condition.
For investors, this suggests underwriting that emphasizes diligence on security measures and tenant screening, while recognizing the recent decline in estimated offenses as a supportive trend. Use submarket and property-level observations to validate leasing assumptions rather than relying on block-level interpretation.
Local employment includes manufacturing and building materials, providing a commuter-friendly base that can support renter demand and retention for workforce housing. Notable nearby employer:
- Owens Corning — building materials (4.7 miles)
This 56-unit, 2009-vintage asset benefits from top-quartile neighborhood positioning within Wichita Falls, strong amenity access, and a growing 3-mile renter pool that supports steady absorption. Affordability signals are balanced—homeownership costs are comparatively accessible, but rent-to-income levels remain manageable, aiding retention and limiting turnover risk. According to CRE market data from WDSuite, neighborhood occupancy has eased, which calls for measured rent setting and active leasing, yet the asset’s newer construction versus local averages offers a competitive edge against older stock.
Forward-looking household growth within 3 miles and solid amenity coverage underpin long-term demand, while targeted capital to maintain systems and refresh finishes should sustain positioning. Underwrite conservatively to local occupancy dynamics and safety monitoring, and lean on amenity and commute convenience to drive leasing performance.
- Newer 2009 construction relative to neighborhood average enhances competitiveness versus older stock
- Growing households within 3 miles expand the tenant base and support occupancy stability
- Strong local amenities (cafes, grocery, restaurants, pharmacies) aid leasing and retention
- Balanced affordability profile supports retention; pricing power likely moderate
- Key risks: softer neighborhood occupancy, limited parks/childcare, and safety metrics below national averages despite recent improvement