| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 78th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5020 Taft Blvd, Wichita Falls, TX, 76308, US |
| Region / Metro | Wichita Falls |
| Year of Construction | 2003 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5020 Taft Blvd Wichita Falls Multifamily Investment
2003-vintage, 44-unit asset in an inner-suburban pocket where renter-occupied housing supports a durable tenant base, according to WDSuite’s CRE market data. Expect steady demand fundamentals with modest pricing power rather than outsized growth.
The property sits in an Inner Suburb of Wichita Falls with an A+ neighborhood rating and a competitive amenity mix for daily needs. Grocery access is a relative strength, ranking near the top among 58 metro neighborhoods and in the top decile nationally, while restaurant density is also strong. By contrast, parks, cafes, childcare, and pharmacies are thinner locally, so residents may rely on nearby corridors for some services.
Neighborhood occupancy is 85.5% (neighborhood-level, not property-specific), indicating stable but not tight conditions that favor disciplined leasing and targeted marketing. Median contract rents in the neighborhood sit in the middle of the national distribution, and the rent-to-income ratio is low, suggesting manageable affordability pressure and potential for incremental rent growth with prudent lease management, based on CRE market data from WDSuite.
Vintage and competitiveness: With an average neighborhood construction year of 1987, the 2003 construction offers a newer profile versus much of the local stock, which can support competitive positioning on finishes, systems, and capex cadence. Investors can emphasize modernization and upkeep to differentiate against older comparables without the heavy lift typical of pre-1990 assets.
Tenure and demand depth: The neighborhood’s renter-occupied share is in the mid-40% range, pointing to a meaningful tenant pool and demand resiliency for multifamily. Within a 3-mile radius, households have grown in recent years and are projected to expand further alongside slight population growth, which supports a larger tenant base and occupancy stability. Elevated grocery and restaurant accessibility enhances day-to-day livability, while more limited park and cafe inventory may temper lifestyle-driven appeal.
Ownership context: Neighborhood home values sit around the national midpoint. This is a more accessible ownership market than high-cost metros, implying some competition from entry-level ownership; however, neutral pricing dynamics and a growing 3-mile household base can still support retention and steady absorption for well-positioned rentals.
Safety indicators for the neighborhood trend below both the metro median and national median, placing it outside the top-performing cohort among 58 Wichita Falls neighborhoods. Recent data also show a year-over-year uptick in both property and violent offense rates locally. Investors should incorporate prudent security, lighting, and site activation plans and benchmark performance against competitive Inner Suburb locations.
Framing for investors: the area is not top quartile nationally on safety and ranks in the lower half within the metro. Positioning, resident engagement, and partnership with local resources can help manage perception and retention while monitoring trend direction over upcoming leasing cycles.
The nearby employment base includes manufacturing and industrial operations that contribute to steady renter demand and commute convenience for workforce tenants. The list below highlights a key employer within typical drive times.
- Owens Corning — building materials manufacturing (6.1 miles)
This 44-unit, 2003-built asset offers a newer vintage relative to a neighborhood average circa 1987, helping it compete against older local stock with a more manageable capex outlook. Neighborhood occupancy of 85.5% (area-level, not property-specific) indicates a steady leasing backdrop, while a meaningful share of renter-occupied housing supports demand depth. Within a 3-mile radius, households are projected to grow alongside modest rent gains, which supports occupancy stability and measured revenue growth potential.
Grocery and restaurant access rank competitively in the metro, enhancing day-to-day utility for residents. Home values near national midpoints point to some competition from ownership, so value is likely realized through operational execution, targeted upgrades, and careful lease management rather than outsized rent pushes. According to CRE market data from WDSuite, neighborhood affordability remains relatively manageable, supporting retention and incremental pricing where renovations justify it.
- 2003 construction offers competitive positioning versus older neighborhood stock and a more predictable capex path.
- Neighborhood renter concentration and 3-mile household growth support a durable tenant base and occupancy stability.
- Strong grocery and restaurant access enhances livability and leasing appeal for workforce renters.
- Manage to market: ownership accessibility implies pricing discipline; focus on renovations and operations to drive NOI.
- Risk: below-median safety metrics in the neighborhood warrant enhanced on-site security and resident engagement.