| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4231 Altoona Dr, Dallas, TX, 75233, US |
| Region / Metro | Dallas |
| Year of Construction | 1984 |
| Units | 58 |
| Transaction Date | 2010-12-07 |
| Transaction Price | $6,280,000 |
| Buyer | TESORO MULTI TX PO LLC |
| Seller | VAZHAPPILLY KELLY |
4231 Altoona Dr Dallas Multifamily Investment
Neighborhood occupancy has held solid with renter demand supported by a majority renter-occupied housing stock, according to WDSuite’s CRE market data, positioning this asset for stable leasing relative to similar inner-suburban Dallas locations.
Located in an inner suburb of Dallas, the neighborhood shows steady renter demand and occupancy that sits in the top quartile nationally, per WDSuite’s CRE market data. The area’s renter-occupied share is just over half of housing units, indicating a deep tenant base that can support leasing continuity for a 58-unit property.
Amenity depth trends below the metro median (ranked 920 among 1,108 Dallas neighborhoods), with limited dining, parks, and cafes inside the neighborhood, though grocery access is competitive at a higher national percentile. Investors should underwrite convenience as more car-oriented, while noting that day-to-day essentials are still reachable.
Within a 3-mile radius, demographics indicate a modest decline in population over the last period but projections point to an increase in households alongside smaller average household sizes. For multifamily, this typically expands the renter pool and can support occupancy stability even if headcount growth is muted.
Home values relative to incomes rank high nationally (94th percentile on value-to-income), signaling a high-cost ownership market for local incomes; that context often sustains reliance on rental housing and can aid lease retention. School options trend weaker than many Dallas neighborhoods, so properties targeting families may need to emphasize on-site features and unit functionality over neighborhood school quality.
Vintage context: the neighborhood’s average construction year is 1979, while this asset was built in 1984. That slightly newer positioning versus local stock can be competitive against older properties, though investors should still plan for mid-1980s systems and common-area modernization when evaluating value-add scope.
Safety indicators are mixed and sit below national medians. The neighborhood’s crime rank is 768 out of 1,108 Dallas metro neighborhoods, placing it below the metro median, and national percentiles indicate comparatively lower safety than many U.S. neighborhoods. Recent year estimates also show upticks in both property and violent offenses. Investors should incorporate security, lighting, and resident-experience measures into underwriting and hold assumptions, and monitor submarket trendlines over time.
- AT&T — telecommunications HQ (7.9 miles) — HQ
- Tenet Healthcare — healthcare HQ (8.0 miles) — HQ
- Jacobs Engineering Group — engineering & professional services (8.2 miles) — HQ
- Builders Firstsource — building materials (8.3 miles) — HQ
- Hollyfrontier — energy (8.4 miles) — HQ
Proximity to major downtown and near-downtown employers supports workforce housing demand, with large corporate offices offering commuting access for residents, including AT&T, Tenet Healthcare, Jacobs Engineering Group, Builders FirstSource, and HollyFrontier.
The investment case centers on durable renter demand, occupancy that tracks above national medians, and ownership costs that remain high relative to local incomes—factors that typically sustain reliance on multifamily housing. Based on CRE market data from WDSuite, neighborhood occupancy sits in a competitive national band while the renter-occupied share is slightly above half, indicating depth of the tenant base. A 1984 vintage offers a path to value creation via targeted renovations and system updates to outperform older local stock.
Within a 3-mile radius, projections indicate household growth and shrinking household sizes, both of which can expand the renter pool and support lease-up and retention even if overall population growth is modest. Amenity depth in the immediate area is thinner, and safety metrics trail broader benchmarks, so underwriting should include property-level improvements and active management to sustain performance.
- Occupancy and renter concentration support a stable tenant base, per WDSuite data.
- 1984 vintage enables value-add through interior updates and system modernization versus older nearby stock.
- High ownership costs relative to income reinforce rental demand and potential lease retention.
- 3-mile projections point to more households and smaller household sizes, expanding the renter pool.
- Risks: thinner amenity set, below-median safety, and affordability pressure that warrants active management and conservative rent growth assumptions.