| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Best |
| Demographics | 58th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4806 Johnson Rd, Wichita Falls, TX, 76310, US |
| Region / Metro | Wichita Falls |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 2005-05-26 |
| Transaction Price | $1,820,000 |
| Buyer | CHARLEY JUDY |
| Seller | WICHITA RENTALS INC |
4806 Johnson Rd, Wichita Falls TX — 28-Unit Value-Add Multifamily
Neighborhood occupancy trends and accessible rents point to stable leasing potential, according to WDSuite’s CRE market data, with 1970s vintage positioning the asset for targeted upgrades.
The property sits in a suburban neighborhood ranked 4th out of 58 Wichita Falls neighborhoods (A rating), indicating a competitive location within the metro for multifamily. Neighborhood occupancy is 94.4% (ranked 9th of 58), suggesting solid tenant retention potential relative to local options. Median asking rents in the area remain under the $1,000 mark, which supports leasing velocity and reduces exposure to outsized affordability pressure.
Household incomes in the neighborhood are above the metro median (rank 12 of 58) while the rent-to-income ratio is favorable (rank 15 of 58), reinforcing pricing headroom and renewal stability for well-positioned units. Local home values sit well below national averages, which means ownership is comparatively more accessible; however, that dynamic can also introduce competition with entry-level ownership, an important consideration for underwriting rent growth and retention.
Within a 3-mile radius, the population has grown modestly over the past five years and is projected to expand further, with households expected to increase and average household size to trend smaller. This points to a gradually expanding renter base and supports occupancy stability. Roughly one-third of housing units are renter-occupied in the 3-mile area, implying a meaningful tenant pool without over-concentration; this mix typically supports steady demand for professionally managed multifamily.
Amenities are service-oriented rather than lifestyle-driven: grocery and pharmacy access rank in the upper tier of the metro (grocery rank 6 of 58; pharmacy rank 5 of 58), while cafes and parks are limited. Average school ratings are above the metro median (rank 11 of 58; about 3.0 out of 5), which can aid family renter retention. In our multifamily property research using WDSuite’s datasets, these neighborhood dynamics align with workforce-oriented demand and practical convenience over entertainment-centric appeal.
Safety metrics for the neighborhood track around the metro average (crime rank 19 out of 58; mid-national percentile). Notably, both violent and property offense rates have improved year over year, with declines placing the area above many peer neighborhoods in trend terms. In WDSuite’s commercial real estate analysis framework, that trajectory supports leasing stability but still warrants standard risk management and security best practices.
Interpreted comparatively, the one-year change shows momentum: estimated property offenses fell meaningfully (improvement ranked 14 of 58; stronger than many peers) and violent offenses also trended lower (improvement ranked 24 of 58). Investors should avoid block-level conclusions, but the directional trend is constructive for resident retention and insurer discussions.
Area employment is anchored by a mix of industrial and corporate operations that support steady workforce housing demand; nearby, Owens Corning provides manufacturing-oriented jobs that can reinforce renter demand and reduce commute friction.
- Owens Corning — building materials manufacturing (6.4 miles)
Built in 1973, the asset is older than the neighborhood’s average vintage, creating a clear value-add path through selective renovations and systems modernization. Neighborhood occupancy of 94.4% and sub-$1,000 area rents suggest durable leasing fundamentals with practical affordability, helping to support retention and limit downside in softer macro periods.
Within a 3-mile radius, modest population growth, a projected increase in households, and a renter-occupied share near one-third point to a stable and gradually expanding tenant base. According to CRE market data from WDSuite, the location ranks competitively within the Wichita Falls metro, while relatively accessible homeownership implies some competition for residents but also supports disciplined rent management and lease renewal strategies.
- 1973 vintage offers value-add and CapEx-driven upside relative to newer stock
- Neighborhood occupancy ~94% supports leasing stability and renewal potential
- Sub-$1,000 area rents balance demand depth with manageable affordability pressure
- 3-mile demographics indicate renter pool expansion and support for steady absorption
- Risk: relatively accessible ownership can compete with rentals—underwrite renewals and amenities accordingly