| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 94th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1407 Main St, Dallas, TX, 75202, US |
| Region / Metro | Dallas |
| Year of Construction | 2006 |
| Units | 86 |
| Transaction Date | 2016-03-30 |
| Transaction Price | $26,475,000 |
| Buyer | LICGD DALLAS LOFTS INC |
| Seller | DLD PROPERTIES LTD |
1407 Main St, Dallas — Urban Core Multifamily Opportunity
Positioned in Downtown Dallas with a deep renter base and steady neighborhood occupancy, this 2006-vintage asset benefits from strong amenity access and commuting convenience, according to WDSuite’s CRE market data.
Located in an Urban Core neighborhood rated A+ among 1,108 Dallas–Plano–Irving neighborhoods, the property sits amid one of the metro’s densest amenity clusters. Restaurant and park access ranks in the top cohort locally, supporting resident convenience and lease retention. Grocery and pharmacy density are likewise competitive among Dallas–Plano–Irving neighborhoods, while childcare options are thinner and may influence household-oriented demand.
The neighborhood 7s housing stock skews older (average year built 1959), making a 2006 build comparatively newer and more competitive versus vintage peers; investors should still underwrite routine modernization as systems age. Neighborhood occupancy is around 90% and has improved over the past five years; note that this figure reflects the neighborhood, not the property. Renter-occupied share is high (roughly three-quarters of units), indicating a sizable tenant base and depth for multifamily leasing.
Within a 3-mile radius, population and household counts have grown, with households expanding faster than population, pointing to smaller household sizes and a broader renter pool. Forward-looking projections show continued increases in households by 2028, which supports occupancy stability and absorption for well-located assets. This context, paired with commercial real estate analysis on Downtown 27s employment and amenity pull, suggests durable renter demand.
Home values in the neighborhood are elevated compared with national norms, and median contract rents sit above many U.S. submarkets. In practical terms, a high-cost ownership market can reinforce reliance on multifamily housing and help sustain pricing power; however, investors should monitor rent-to-income dynamics for lease management and retention planning.
Safety indicators in this Urban Core location trail national medians and rank below the metro average, reflecting the dynamics common to active downtown districts. According to WDSuite, estimated property offenses declined over the past year, a constructive trend to watch, while violent offense measures remain elevated compared with neighborhoods nationwide.
Investors typically address these conditions through professional management, access control, and resident engagement; underwriting should consider operating practices and insurance assumptions appropriate for an active city-center environment.
Proximity to major employers underpins Downtown 27s renter base, with walkable or short-commute access to telecom, engineering, healthcare, building materials, and energy headquarters that support leasing depth and retention.
- AT&T — telecom (0.1 miles) — HQ
- Jacobs Engineering Group — engineering (0.31 miles) — HQ
- Tenet Healthcare — healthcare services (0.31 miles) — HQ
- Builders Firstsource — building materials (0.38 miles) — HQ
- Hollyfrontier — energy (1.05 miles) — HQ
1407 Main St is an 86-unit, 2006-built multifamily asset in Downtown Dallas that benefits from a high renter concentration, strong amenity density, and immediate access to anchor employers. The vintage is newer than the neighborhood average, supporting competitive positioning versus older stock; investors should still plan for ongoing modernization over the hold. Neighborhood occupancy has trended upward and renter demand is reinforced by a high-cost ownership landscape, according to CRE market data from WDSuite.
Within a 3-mile radius, population growth and a faster increase in households point to a larger tenant base and continued renter pool expansion into the medium term. These fundamentals, alongside the employment core, support leasing stability, while underwriting should account for Urban Core safety dynamics and selective operational enhancements.
- Downtown Dallas location with strong amenity access and commuter convenience supporting lease retention
- 2006 vintage offers competitive positioning versus older neighborhood stock with scope for targeted updates
- High renter-occupied share and growing 3-mile household base support demand and occupancy stability
- Elevated ownership costs reinforce reliance on multifamily housing and pricing power potential
- Risk: Urban Core safety metrics trail national medians; plan for appropriate security, insurance, and management practices