| 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 | 2021-12-09 |
| Transaction Price | $10,312,500 |
| Buyer | CRESCENT VILLAGE AMP HOLDINGS LLC |
| Seller | CRESCENT VILLAGE AMP LLC |
5020 Taft Blvd Wichita Falls Multifamily Investment
Renter-occupied housing is substantial at the neighborhood level, and relatively low rent-to-income ratios suggest demand depth and retention potential, according to WDSuite’s CRE market data. Newer 2003 vintage versus local stock positions the asset competitively while leaving room for targeted modernization.
The property sits in an Inner Suburb pocket of Wichita Falls with an A+ neighborhood rating and a neighborhood rank of 2 among 58 metro neighborhoods, indicating strength that is competitive among Wichita Falls locations. Restaurants and daily needs retail are a local advantage: the neighborhood is ranked 3 of 58 for restaurants per square mile and 1 of 58 for grocery access, both well above national norms, supporting convenience that aids leasing and retention.
Amenities are mixed beyond dining and grocery: cafes, parks, childcare, and pharmacies are sparse within the immediate neighborhood ranks (each near the bottom of 58), so residents may rely on nearby corridors for these services. For investors, this typically points to marketing that emphasizes proximity to key retail nodes rather than walk-to-everything positioning.
Neighborhood occupancy is measured at the neighborhood level and has been below the metro median (rank 33 of 58) and below national norms, implying more competitive leasing conditions. Counterbalancing this, renter concentration is elevated (renter-occupied share rank 10 of 58; high national percentile), indicating a deep tenant base for multifamily. The rent-to-income ratio is low by national standards, which suggests affordability that can support lease stability even if pricing power is moderate.
Within a 3-mile radius, WDSuite data points to modest recent population growth and a projected increase in households by 2028, signaling renter pool expansion that supports occupancy stability. Household incomes have trended higher with further gains projected, which can underpin steady demand for quality units; frame this as steady absorption potential rather than outsized rent growth in your commercial real estate analysis.
The 2003 construction year is newer than the neighborhood’s average vintage (1987). That positioning helps against older stock while still calling for normal capital planning for systems nearing mid-life and selective updates to capture value-add premiums without overcapitalizing.
Safety indicators for the neighborhood are mixed and should be assessed comparatively rather than at the block level. The neighborhood’s crime rank is 44 among 58 Wichita Falls neighborhoods, placing it below metro average safety, and national percentiles suggest it trails many areas nationwide. Recent year-over-year changes indicate upticks in both property and violent offense rates at the neighborhood level, underscoring the need for standard security measures and attentive property management to support resident retention.
Investors typically mitigate these dynamics by focusing on lighting, access control, and resident engagement, and by emphasizing the area’s proximity to employment and retail anchors that can support leasing continuity despite comparative safety headwinds.
Nearby employment anchors contribute to a stable renter base by shortening commute times and reinforcing everyday demand. Notable corporate presence within driving distance includes the following employer:
- Owens Corning — building materials corporate offices (6.0 miles)
This 44-unit, 2003-vintage asset offers relative competitiveness versus older neighborhood stock while benefiting from an established renter base and everyday retail proximity. Neighborhood-level occupancy trends have been below the metro median, but elevated renter concentration and low rent-to-income levels support tenant depth and lease stability. Within a 3-mile radius, modest population growth and a forecasted increase in households point to a larger tenant base over the next several years, aiding steady absorption.
According to CRE market data from WDSuite, the combination of strong grocery and restaurant access, improving income profiles, and a newer-than-average vintage positions the property for durable operations with selective value-add. Near-term strategies should prioritize thoughtful renovations and active leasing to navigate competitive occupancy while maintaining affordability that supports retention.
- Newer 2003 vintage versus neighborhood average supports competitive positioning with manageable capital planning.
- Elevated renter-occupied share and low rent-to-income levels indicate a deep tenant base and potential retention strength.
- Strong access to grocery and restaurants underpins convenience that aids leasing and renewal rates.
- 3-mile radius outlook shows household growth and rising incomes, supporting occupancy stability and steady absorption.
- Risk: neighborhood-level occupancy below metro median and comparative safety headwinds require proactive leasing, security, and retention management.