| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 44th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 W South St, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 1983 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1601 W South St Alvin Multifamily Investment
Neighborhood occupancy near 90% supports leasing stability in the immediate area, according to WDSuite’s CRE market data, while a moderate renter concentration points to steady demand rather than volatility.
Set within the Houston-The Woodlands-Sugar Land metro, the neighborhood carries a B rating and ranks 585 out of 1,491 metro neighborhoods—competitive among Houston neighborhoods. Cafe, restaurant, grocery, and pharmacy densities tend to land above national medians (with several measures in the upper national quartiles), signaling everyday convenience even outside of the urban core.
Neighborhood occupancy is around 90%, close to national norms, which typically supports stable leasing but limits deep vacancy-driven repositioning plays. The renter-occupied share is on the lower side locally, implying more owner-occupied housing stock; for multifamily, demand often draws from commuters and nearby services rather than from a dense cluster of large apartment properties.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to expand further by 2028, indicating a larger tenant base and support for occupancy. Incomes and market rents are also expected to rise, which can underpin revenue while warranting attention to affordability thresholds when managing renewals.
Home values in this area sit below many Houston-core submarkets, creating a relatively accessible ownership market. For investors, that can introduce some competition with entry-level ownership, but it can also support retention among renters who value flexibility. Park access is limited, though everyday services and childcare availability score well relative to national peers.
Safety indicators sit above the national median (63rd percentile nationwide), and one-year estimates show notable declines in both violent and property offenses. In metro terms, the area reads as solidly competitive rather than a top-tier outlier, and investors should supplement with property-level history and current activity patterns when underwriting.
Nearby employers span telecom, aerospace, energy, and waste management—an employment mix that supports workforce housing demand and commuting convenience for residents.
- Dish Network — telecom (1.7 miles)
- Boeing: Bay Area Building — aerospace offices (15.8 miles)
- Calpine Turbine Maintenance Group — energy services (17.7 miles)
- Occidental — energy (24.5 miles)
- Waste Management — waste management (24.7 miles) — HQ
This 64-unit asset offers small-format units in a suburban context with neighborhood occupancy near national norms, supported by an employment base that pulls from telecom, aerospace, and energy. Within a 3-mile radius, population and households are projected to rise meaningfully by 2028, pointing to renter pool expansion that should help sustain occupancy and leasing velocity over the medium term. According to CRE market data from WDSuite, the area’s home values and rent-to-income dynamics suggest manageable affordability pressure, which can support retention with disciplined lease management.
Built in 1983—slightly newer than the neighborhood’s 1980 average—the property can be positioned as competitive versus older stock, while still planning for modernization of aging systems and common areas as part of a value-add roadmap. The local renter-occupied share is comparatively lower, so marketing may need to capture commuters and service workers drawn to proximity rather than rely on a dense multifamily cluster.
- Stable neighborhood occupancy and diversified nearby employment support leasing durability
- Forecast household and income growth within 3 miles expands the tenant base
- 1983 vintage offers competitive positioning vs. older stock with clear value-add pathways
- Risk: lower local renter concentration and relatively accessible ownership may temper lease-up speed