| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 86th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 Thomas Ave, Dallas, TX, 75201, US |
| Region / Metro | Dallas |
| Year of Construction | 2008 |
| Units | 71 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2400 Thomas Ave Dallas Multifamily Opportunity
Amenity-rich Urban Core location with deep renter demand and newer vintage positioning, according to WDSuite’s CRE market data, points to durable leasing potential and competitive tenant draw.
Located in Dallas’s Urban Core, the property sits in a neighborhood that ranks 2 out of 1,108 metro neighborhoods, reflecting an A+ overall rating and strong fundamentals for multifamily. Amenity access is a clear differentiator: the area ranks 1 of 1,108 locally and sits in the 97th–100th national percentiles for restaurants, groceries, parks, and daily conveniences, supporting leasing velocity and retention.
The neighborhood’s housing stock trends newer than much of the metro, and this asset’s 2008 construction is newer than the local average (1988). That positioning typically enhances competitiveness versus older comparables, while still warranting capital planning for mid-life systems and selective modernization to sustain rentability.
Renter-occupied units account for a high share of neighborhood housing (top national percentiles), indicating a deep tenant base rather than homeowner-centric demand. Neighborhood occupancy currently sits below national averages, so operators may prioritize marketing and renewals; however, the area’s amenity density and workforce access help support absorption.
Within a 3-mile radius, population has expanded in recent years with households growing faster than population and average household size trending smaller. Forward-looking projections indicate additional population and household gains, which implies a larger tenant base and supports occupancy stability for well-positioned multifamily assets.
Home values in the neighborhood are elevated relative to national norms, and value-to-income levels are higher than average. In investor terms, a high-cost ownership market tends to reinforce reliance on rental options, supporting price discipline and lease retention. Rent-to-income levels in the area remain manageable, which can reduce near-term affordability pressure and support renewal outcomes.
Safety conditions are mixed and should be underwritten with care. Relative to neighborhoods nationwide, this area scores in lower safety percentiles, and its crime rank sits in the lower tier among the 1,108 Dallas–Plano–Irving neighborhoods. Recent data also shows property offenses trending higher year over year, while violent offense trends have been comparatively stable. For operators, this typically argues for reinforced onsite security measures, lighting, and partnerships with local resources to support resident confidence.
Investors should compare these patterns to nearby Urban Core submarkets and consider how professional management, controlled access, and activation of ground-level spaces can mitigate risk and sustain leasing performance.
Proximity to multiple Fortune 500 headquarters and major offices underpins strong renter demand from professionals seeking short commutes. The immediate employment base includes energy, healthcare, engineering, and telecom anchors noted below.
- Hollyfrontier — oil & gas refining (0.44 miles) — HQ
- Tenet Healthcare — healthcare services (0.60 miles) — HQ
- Builders Firstsource — building materials distribution (0.62 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (0.64 miles) — HQ
- AT&T — telecommunications (0.97 miles) — HQ
This 71-unit, 2008-vintage asset benefits from a premier Urban Core location with top-tier amenity access and a renter-heavy neighborhood. Newer construction relative to local stock supports competitive positioning versus older properties; selective upgrades can further enhance leasing performance and retention. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trails national averages, but the combination of elevated household incomes, high-cost ownership, and a growing 3-mile tenant base supports steady demand for well-managed multifamily.
Forward demand signals are constructive: households within 3 miles are projected to increase, the renter pool is deep, and major employers cluster within a mile. Operators who emphasize security, resident experience, and targeted value-add can capture durable occupancy while managing affordability and retention risk.
- Newer 2008 vintage versus neighborhood average, offering competitive positioning with selective value-add upside
- Deep renter-occupied concentration and strong amenity access support tenant demand and leasing velocity
- High-cost ownership market reinforces reliance on rentals, aiding pricing power and renewals
- Walkable access to multiple headquarters within ~1 mile attracts professional renters
- Key risk: below-average safety metrics and softer neighborhood occupancy warrant enhanced operations and security planning