| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 92nd | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3636 McKinney Ave, Dallas, TX, 75204, US |
| Region / Metro | Dallas |
| Year of Construction | 2005 |
| Units | 103 |
| Transaction Date | 2010-02-18 |
| Transaction Price | $15,300,000 |
| Buyer | LG McKinney LTD PS |
| Seller | CIM/3636 McKinney Ave LP |
3636 McKinney Ave Dallas Multifamily Opportunity
Urban-core location with strong renter demand and high amenity access supports leasing durability, according to WDSuite's CRE market data.
Uptown Dallas offers lifestyle convenience that resonates with renters. Amenity access ranks in the top quartile nationally, with restaurant density among the highest in the country and grocery, parks, and pharmacies also scoring in the mid-to-high 90th percentiles. For investors, this breadth of daily-needs and leisure options supports leasing velocity and renewal potential.
The area is predominantly renter-occupied, with an estimated 73.2% of housing units renter-occupied. That renter concentration points to a deep tenant base and consistent multifamily demand, while putting a premium on finish quality and professional management to differentiate product. Neighborhood median contract rents are elevated versus national norms, and a rent-to-income ratio near 0.22 indicates manageable affordability pressure for the local income profile, aiding retention.
Operating fundamentals are mixed in the near term. Neighborhood occupancy is about 86.5%, below many Dallas neighborhoods, so active lease management and targeted concessions may be needed to maintain momentum. Offsetting this, average NOI per unit ranks in the top quartile nationally, suggesting that well-positioned assets can still deliver solid operating margins. The property’s 2005 construction is newer than the neighborhood’s late-1980s average, providing a competitive edge versus older stock, with selective modernization offering potential for rent premiums.
Demographic indicators aggregated within a 3-mile radius show recent population growth, rising household counts, and projections for further gains alongside higher median incomes. Elevated home values relative to national levels create a high-cost ownership market that tends to sustain reliance on multifamily housing, supporting pricing power and lease retention for professionally managed assets.
Safety metrics for the neighborhood trend below national medians, and within the Dallas-Plano-Irving metro (1,108 neighborhoods) the area sits below the metro median for safety. This context argues for underwriting prudent security measures, lighting, and access controls to support resident comfort and retention.
Recent direction is mixed: estimated violent offense rates have eased year over year, while property offenses have edged higher. Investors should budget conservatively for insurance and emphasize professional management practices that mitigate nuisance activity.
A concentrated employment base nearby supports weekday demand and leasing stability. Key anchors include Dean Foods, Energy Transfer, HollyFrontier, Builders FirstSource, and Jacobs Engineering Group.
- Dean Foods — corporate offices (0.3 miles) — HQ
- Energy Transfer — energy infrastructure offices (0.6 miles)
- Hollyfrontier — energy and refining offices (1.1 miles) — HQ
- Builders Firstsource — building materials corporate (1.5 miles) — HQ
- Jacobs Engineering Group — engineering and professional services (1.6 miles) — HQ
3636 McKinney Ave is positioned in an A+ rated, urban core neighborhood where amenity access and high-income demographics support durable renter demand. Neighborhood median rents are high versus national norms, yet the rent-to-income profile suggests room for disciplined rent growth and stable renewals. While neighborhood occupancy is currently softer, execution can lean on targeted leasing, service quality, and product differentiation. According to CRE market data from WDSuite, average NOI per unit in the area ranks in the top quartile nationally, reinforcing potential for efficient operations at stabilization.
Built in 2005, the asset is newer than much of the surrounding late-1980s stock, offering competitive positioning with upside from selective renovations and system updates. Within a 3-mile radius, population and household counts have grown and are projected to keep rising, expanding the tenant base and supporting occupancy stability over the long run. Elevated home values relative to national levels signal a high-cost ownership market that tends to sustain multifamily demand.
- Deep renter base and high-income demographics support leasing and renewals
- 2005 vintage competitive versus older stock; value-add via targeted upgrades
- Amenity-rich urban core location underpins pricing power
- Proximity to major employers supports commute convenience and retention
- Risks: softer neighborhood occupancy and below-median safety warrant prudent underwriting and active management