| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Fair |
| Demographics | 56th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 Airport Dr, Wichita Falls, TX, 76305, US |
| Region / Metro | Wichita Falls |
| Year of Construction | 2007 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
901 Airport Dr, Wichita Falls Multifamily Opportunity
Newer 2007 construction and a renter-leaning 3-mile housing mix provide a practical demand base, according to CRE market data from WDSuite, with affordability dynamics that can support resident retention.
Located in a Rural pocket of Wichita Falls, the property sits in a car-oriented area with limited immediate retail or services; amenity density ranks near the bottom among 58 metro neighborhoods, signaling a need for on-site conveniences and thoughtful resident services to aid retention.
The neighborhood s average construction year is 1976, while this asset was built in 2007. The newer vintage should be comparatively competitive versus older local stock and may reduce near-term capital exposure, though investors should still plan for system updates and selective modernization to sustain positioning.
Within a 3-mile radius, 55% of housing units are renter-occupied, indicating a sizable tenant base for multifamily leasing. Household counts in the same radius are projected to increase even as population trends soften, implying smaller household sizes and a potentially broader renter pool that can support occupancy stability.
Affordability signals are favorable for lease management: the neighborhood s rent-to-income ratio sits in a strong national percentile, suggesting manageable affordability pressure that can help with renewals. By contrast, home values are comparatively lower in the national context, which can introduce some competition from ownership options and may temper pricing power at the margin.
Safety indicators present a mixed picture. Compared with Wichita Falls neighborhoods, this area ranks closer to higher-crime segments; however, nationally it performs above the midpoint, landing in the safer half of neighborhoods across the country. Recent data also show notable year-over-year declines in both violent and property offenses, indicating improving trend momentum, based on WDSuite s CRE market data.
Nearby employment includes manufacturing and industrial operations that can underpin workforce housing demand and commuting convenience, specifically Owens Corning.
- Owens Corning manufacturing materials (0.7 miles)
This 120-unit asset (average unit size ~685 sq. ft.) benefits from 2007 construction in a submarket dominated by older stock, providing relative competitiveness and potential capex efficiency. Within a 3-mile radius, a renter-leaning tenure mix and projected growth in household counts point to a larger tenant base even as population moderates, supporting leasing durability. According to CRE market data from WDSuite, local affordability indicators are favorable for renewals, while sparse nearby amenities make on-site offerings and service quality important for retention.
Key watch items include softer neighborhood occupancy history and more accessible ownership options that may limit pricing power. Still, improving safety trends and proximity to industrial employment can support steady workforce demand, with value-add upside through targeted unit updates and amenity programming.
- 2007 vintage competes well against older local stock, with targeted updates offering value-add potential
- Renter-leaning 3-mile housing mix and projected household growth expand the tenant base
- Favorable affordability metrics support renewal potential and occupancy stability
- Proximity to nearby industrial employment supports steady workforce demand
- Risks: sparse amenities and more accessible ownership may temper rent growth; active asset management is key