| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 44th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1004 S Hill St, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 1978 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1004 S Hill St Alvin Value-Add Multifamily Investment
Neighborhood occupancy remains steady and renter demand is supported by everyday amenities, according to WDSuite’s CRE market data. The thesis centers on durable workforce housing fundamentals with room to enhance NOI through renovations.
Located in suburban Alvin within the Houston-The Woodlands-Sugar Land metro, the neighborhood carries a B rating and ranks 585 out of 1,491 metro neighborhoods, indicating competitive livability without premium pricing. Amenity access is a relative strength — the area’s amenity rank sits in the top quartile among 1,491 metro neighborhoods, and grocery, pharmacy, and dining options score above national midpoints, supporting daily convenience for tenants. Park access is limited, so outdoor recreation typically relies on regional options rather than walking-distance green space.
The property’s 1978 construction is slightly older than the neighborhood’s average vintage (1980), pointing to clear value-add potential. Investors should underwrite for common-area refreshes and selective in-unit upgrades to improve competitive positioning against newer stock while managing long-term systems and capex.
Tenure patterns signal a stable but not saturated renter base. Within the immediate neighborhood, the share of renter-occupied units is moderate, which supports demand for smaller, efficiently priced units and can aid retention when paired with thoughtful lease management. In the surrounding 3-mile radius, demographic statistics show modest population growth in recent years and a larger increase in households, implying smaller household sizes and a gradually expanding renter pool that can support occupancy stability.
Affordability dynamics are favorable for multifamily operations. Neighborhood rent-to-income sits near the national midpoint, which helps manage affordability pressure and supports lease renewals. Home values are comparatively accessible for the Houston region, which can introduce some competition with ownership, but rising household incomes within 3 miles and forecasted rent growth indicate room for disciplined rent management rather than outsized concessions.
Safety trends compare favorably at the metro level. Crime ranks in the top quartile among 1,491 Houston-area neighborhoods, placing the area ahead of many peers. Nationally, overall crime sits above the midpoint, while violent crime is closer to the lower half of neighborhoods nationwide — a reminder to stay disciplined on security features and lighting.
Recent year-over-year estimates from WDSuite indicate notable declines in both property and violent offenses, suggesting improving conditions rather than deterioration. Investors should validate on-the-ground patterns and maintain practical measures (access control, visibility, and resident engagement) to support retention and protect operations.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, led by telecom, aerospace, energy services, and environmental services. Notable nearby employers include Dish Network, Boeing, Calpine Turbine Maintenance Group, Occidental, and Waste Management.
- Dish Network — telecommunications (1.1 miles)
- Boeing: Bay Area Building — aerospace offices (15.0 miles)
- Calpine Turbine Maintenance Group — power services (16.8 miles)
- Occidental — energy (24.4 miles)
- Waste Management — environmental services (24.5 miles) — HQ
This 28-unit, 1978-vintage asset fits a practical value-add thesis in a B-rated suburban neighborhood that is competitive among 1,491 Houston-area neighborhoods. Neighborhood occupancy is stable, renter concentration is sufficient to support leasing, and nearby amenities align with workforce expectations. According to WDSuite’s commercial real estate analysis, rent-to-income sits near national midpoints, favoring retention while leaving scope for targeted rent lifts tied to interior upgrades.
Within a 3-mile radius, households have grown faster than population, pointing to smaller household sizes and a larger tenant base over time. Forecasts call for continued population and income gains alongside rent growth, which, combined with cosmetic and systems improvements typical for late-1970s construction, can support durable cash flow and measured upside without relying on aggressive assumptions.
- Value-add path: 1978 vintage with clear upgrade potential to drive rents and retention
- Stable renter demand backed by competitive neighborhood rank and daily conveniences
- Balanced affordability: rent-to-income near national midpoints supports renewal rates
- 3-mile growth tailwinds: rising households and incomes expand the renter pool
- Key risks: limited park access, some competition from ownership, and the need to manage capex typical of late-1970s assets