| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 92nd | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2801 Knight St, Dallas, TX, 75219, US |
| Region / Metro | Dallas |
| Year of Construction | 1972 |
| Units | 28 |
| Transaction Date | 2014-03-17 |
| Transaction Price | $1,189,600 |
| Buyer | KNIGHT STREET APARTMENTS LLC |
| Seller | KNIGHT APARTMENTS LTD |
2801 Knight St, Dallas Multifamily Investment
Positioned in Dallas’s urban core, the asset benefits from strong renter demand and high-income households in the surrounding neighborhood, according to WDSuite’s CRE market data. Neighborhood-level occupancy and rent trends suggest stable pricing power when paired with thoughtful renovations and focused leasing.
This urban core location stands out for amenity access and daily convenience. The neighborhood is competitive among Dallas-Plano-Irving neighborhoods (ranked 39th of 1,108 for overall amenities) and sits in the top quartile nationally for restaurants, groceries, parks, and pharmacies. Average school ratings trend above many U.S. neighborhoods, supporting family-oriented renters who value education access without long commutes.
Renter concentration is high: 73.2% of housing units in the neighborhood are renter-occupied, indicating a deep tenant base and sustained demand for multifamily product. Median contract rents in the neighborhood sit in the upper tier nationally while rent-to-income metrics remain manageable, which can support retention and measured rent growth through disciplined lease management.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1989), pointing to value-add potential through unit and system upgrades. Select modernization can help the asset compete against newer stock while targeting occupancy stability and stronger effective rents.
Within a 3-mile radius, demographics show a growing and increasingly affluent renter pool: population and household counts have increased, with households expanding at a faster pace and average household size trending smaller. Forward-looking projections indicate further household growth, which typically supports absorption and reduces downtime between turns. Neighborhood-level NOI per unit benchmarks are in the top quartile nationally, signaling healthy income fundamentals relative to many U.S. neighborhoods.
One watch item: neighborhood occupancy is below the metro median (ranked 1,010 of 1,108), suggesting elevated vacancy relative to peers. Operators that emphasize targeted amenities, professional management, and effective marketing can still capture share given the strong amenity base and income profile nearby.
Safety indicators trend below many U.S. neighborhoods. Overall crime performance is below the metro median (ranked 789th of 1,108 Dallas-Plano-Irving neighborhoods) and aligns with lower national percentiles for safety (around the 28th percentile). Violent offense rates benchmark near the lower end nationally (around the 9th percentile for safety), though recent year-over-year figures indicate a modest decline, suggesting incremental improvement.
For underwriting and operations, practical measures—such as secure access, lighting, visibility, and coordinated community engagement—can support resident confidence and leasing stability. These observations are neighborhood-level, not property-specific.
Proximity to major corporate offices underpins weekday activity and supports a steady renter base seeking commute convenience. Notable nearby employers include Energy Transfer, HollyFrontier, Dean Foods, Tenet Healthcare, and Builders FirstSource.
- Energy Transfer — energy infrastructure offices (0.7 miles)
- Hollyfrontier — energy refining corporate offices (1.2 miles) — HQ
- Dean Foods — food & beverage corporate offices (1.4 miles) — HQ
- Tenet Healthcare — healthcare services corporate offices (1.9 miles) — HQ
- Builders Firstsource — building materials corporate offices (2.0 miles) — HQ
The asset’s location in a top-rated Dallas neighborhood combines a deep renter base with exceptional amenity access. Based on CRE market data from WDSuite, the neighborhood’s income profile and amenity density rank competitively in the metro and in the top quartile nationally, supporting absorption and pricing power when operations are executed well.
Constructed in 1972, the property presents value-add potential through renovations and system upgrades to compete with newer stock. While neighborhood occupancy benchmarks trail the metro median, the 3-mile radius shows ongoing population and household growth alongside a strong employment base, providing a path to stabilize and enhance performance with targeted capital and leasing strategy.
- Urban-core location with top-tier amenity access and income profile
- Large renter-occupied share supports a deep tenant base and demand stability
- 1972 vintage offers clear value-add and modernization upside
- Nearby corporate employers underpin leasing and retention
- Risk: neighborhood occupancy below metro median; plan for focused leasing and concessions management