| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 44th | Fair |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 811 Morrell Ave, Dallas, TX, 75203, US |
| Region / Metro | Dallas |
| Year of Construction | 2004 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
811 Morrell Ave Dallas Multifamily Investment Opportunity
2004 construction positions this asset as newer than much of the surrounding stock, supporting competitive leasing versus older properties. Neighborhood occupancy trends are above the national median according to WDSuite s CRE market data, pointing to stable renter demand in this part of Dallas.
The immediate neighborhood shows mid-tier performance within the Dallas-Plano-Irving metro, with occupancy in the neighborhood measured at 93.7% and ranked 641 out of 1,108 neighborhoods above the national median per WDSuite s CRE market data. The renter-occupied share within the neighborhood is about 29%, indicating a more owner-weighted area locally, while the broader 3-mile radius is roughly balanced between owners and renters a backdrop that supports a dependable, if selective, tenant base for multifamily.
Amenity access is mixed: parks and childcare density test well against national benchmarks (parks around the 78th percentile; childcare near the 85th), but day-to-day retail like groceries, pharmacies, cafes, and restaurants is limited within the neighborhood. Average school ratings in the neighborhood score at the top of national comparisons, which can aid family-oriented retention. These are neighborhood-level indicators and not specific to any one property, but they frame leasing dynamics and resident appeal.
From an affordability standpoint, neighborhood rents read as moderate and rent-to-income ratios lean manageable, which can help renewal rates but may limit near-term pricing power. Home values in the area are comparatively low in a national context, suggesting some competition from entry-level ownership; however, this can also keep multifamily relevant as a more flexible housing option. For investors conducting multifamily property research, the trade-off points to steady occupancy potential with disciplined rent management.
The asset s 2004 vintage is newer than the neighborhood s average construction year (1967), offering a competitive edge versus older stock. Investors should still account for systems modernization and common-area refresh over the hold, but the relative youth of the building supports leasing against nearby legacy properties.
Within a 3-mile radius, recent years show modest population growth alongside a clearer increase in household counts and a decline in average household size. Forward-looking data indicates households may continue to rise even if total population softens, implying more, smaller households entering the market a pattern that can sustain multifamily demand and support occupancy stability.
Neighborhood safety indicators trail the metro median, with crime ranked 727 out of 1,108 Dallas-area neighborhoods and landing around the 31st percentile nationally. This suggests safety outcomes that are weaker than the national middle of the pack, though not the lowest tier across the metro.
Trend signals are mixed: estimated violent offense rates have eased modestly year over year, while property-related incidents show a slight uptick. For investors, the prudent approach is active security and property management practices that align with these neighborhood-level conditions rather than block-level assumptions.
Proximity to Downtown Dallas anchors a diversified employment base that supports renter demand and commute convenience. Nearby corporate headquarters include AT&T, Tenet Healthcare, Jacobs Engineering Group, Builders FirstSource, and HF Sinclair/HollyFrontier all within roughly 4 miles.
- AT&T telecommunications (2.9 miles) HQ
- Tenet Healthcare healthcare services (3.2 miles) HQ
- Jacobs Engineering Group engineering & professional services (3.2 miles) HQ
- Builders FirstSource building materials (3.3 miles) HQ
- Hollyfrontier energy (3.8 miles) HQ
The investment case centers on durable renter demand, competitive positioning versus older local stock, and access to a deep employment core. Built in 2004, the property is materially newer than the neighborhood average, which can reduce near-term capital intensity while supporting leasing against legacy assets. Neighborhood occupancy trends sit above the national median, and area rents relative to incomes point to manageable affordability pressure conditions that can aid retention even if rent growth must remain disciplined. According to CRE market data from WDSuite, nearby employers within a short commute add breadth to the tenant base.
Key considerations include limited walkable retail in the immediate neighborhood, safety indicators that lag metro medians, and ownership options that are relatively attainable locally. Demographic patterns within a 3-mile radius show household growth and smaller household sizes over time, which can expand the renter pool even if population growth moderates, supporting occupancy stability for well-operated assets.
- 2004 vintage offers competitive positioning versus older neighborhood stock, with targeted refresh likely to drive value
- Neighborhood occupancy above the national median supports lease-up and renewal stability
- Short commutes to major employers underpin demand across a diverse workforce
- Manageable rent-to-income dynamics favor retention, though pricing power may be measured
- Risks: limited nearby retail, safety metrics below metro median, and competition from accessible ownership options