| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 11th | Poor |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3219 Sumter Dr, Dallas, TX, 75220, US |
| Region / Metro | Dallas |
| Year of Construction | 1980 |
| Units | 52 |
| Transaction Date | 2007-06-19 |
| Transaction Price | $11,250,000 |
| Buyer | HS BROOKS LLC |
| Seller | HIGHPOINT APARTMENTS LTD |
3219 Sumter Dr, Dallas TX Multifamily Value-Add Opportunity
High renter concentration in the surrounding neighborhood and proximity to major employers point to durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady, with leasing supported by access to daily amenities and workforce corridors.
Located in an Inner Suburb of Dallas, the neighborhood around 3219 Sumter Dr shows balanced renter demand drivers alongside value-add potential for investors. Neighborhood occupancy is measured at the neighborhood level rather than the property and sits near the middle of the Dallas-Plano-Irving distribution, signaling room for operational upside through renovation and management execution.
Livability is anchored by everyday retail access: grocery density ranks near the top among 1,108 metro neighborhoods and is in the top quartile nationally, while restaurant concentration is also top quartile nationally. Childcare access is strong as well (competitive among Dallas neighborhoods), though cafes, parks, and pharmacies are comparatively limited, which skews the amenity mix toward essentials rather than lifestyle services.
Housing tenure is heavily renter-oriented: a very high share of units in the immediate neighborhood are renter-occupied. For multifamily owners, this indicates a deep resident pool and supports leasing velocity and renewal potential. Median contract rents at the broader 3-mile radius have been rising and are projected to grow further, which can bolster revenue strategies if paired with product differentiation.
Within a 3-mile radius, households increased even as total population edged lower, and forecasts call for a sizable increase in households alongside slightly smaller average household sizes. For investors, that pattern typically expands the renter pool and can support occupancy stability for well-positioned assets. Income levels in the 3-mile radius have trended higher, which, together with directional rent growth, suggests headroom for targeted upgrades when supported by submarket comps, based on CRE market data from WDSuite.
Safety signals are mixed relative to the Dallas-Plano-Irving metro. The neighborhood ranks below the metro median on safety, indicating higher reported crime than many peer neighborhoods. However, recent trends show improvement: estimated property offenses declined by 26.6% year over year and estimated violent offenses declined by 14.5% year over year, indicating momentum in the right direction. These figures reflect neighborhood-level trends rather than conditions at a specific property.
The location serves a broad workforce base with short commutes to major employers that support multifamily renter demand, including Southwest Airlines, Xerox, Energy Transfer Equity, Celanese, and IBM. Proximity to these offices can aid leasing, renewals, and day-to-day convenience for residents.
- Southwest Airlines — airlines (1.1 miles) — HQ
- Xerox — technology services (1.6 miles)
- Energy Transfer Equity — energy infrastructure (3.4 miles) — HQ
- Celanese — specialty materials & chemicals (4.6 miles) — HQ
- IBM Dallas Metroplex — information technology (4.9 miles)
Built in 1980, the property is older than the neighborhood’s average vintage, which positions it for a clear value-add and capital planning thesis. Investor focus can center on targeted renovations, curb appeal, and systems upgrades to compete against newer stock while leveraging the area’s renter depth and access to major employment nodes. According to WDSuite’s commercial real estate analysis, the surrounding neighborhood maintains a large renter base and steady occupancy, and the 3-mile area shows rising incomes with a forecast expansion in household counts—factors that typically support leasing stability and measured rent growth.
Daily-needs retail is strong, restaurants are plentiful, and several corporate offices sit within a five-mile commute, all of which reinforce location fundamentals for workforce and service-sector renters. Key considerations include neighborhood safety, which trails metro averages but has improved year over year, and ensuring capex scopes align with achievable rents in this Inner Suburb context.
- 1980 vintage supports a value-add program to drive rent and retention versus newer competitive stock
- High neighborhood renter-occupied share indicates a deep tenant base and supports leasing velocity
- Strong access to groceries and restaurants plus nearby employers underpins location fundamentals
- 3-mile household growth and rising incomes point to demand that can support renovated product
- Risks: below-metro safety ranks and capex requirements; underwrite rents and stabilization timelines conservatively