| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 43rd | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1905 Jephson Ln, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 1972 |
| Units | 22 |
| Transaction Date | 2004-04-30 |
| Transaction Price | $584,400 |
| Buyer | RED ROCK FAMILY PARTNERS LTD |
| Seller | ASHNA FAROUGH |
1905 Jephson Ln, Alvin TX Multifamily Investment
Neighborhood renter concentration and relatively manageable rent-to-income dynamics point to a stable tenant base, according to WDSuite’s CRE market data. Soft neighborhood occupancy suggests leasing execution matters, but local service amenities and commuting access support demand.
Set within an Inner Suburb of the Houston MSA, the neighborhood ranks 409 out of 1,491 metro neighborhoods, which is above the metro median and competitive among Houston neighborhoods. Amenity access is a relative strength: grocery, restaurants, pharmacies, parks, and childcare score in higher national percentiles, placing the area broadly in the top quartile for day-to-day services — a practical tailwind for resident convenience and leasing.
The local renter-occupied share sits at 56.5% of housing units, indicating a deep renter pool that supports multifamily absorption and retention. By contrast, the neighborhood’s occupancy level is below the metro median and has eased modestly in recent years, so underwriting should assume a measured lease-up approach and active renewal management rather than frictionless stabilization.
Within a 3-mile radius, population has inched higher over the last five years and households have expanded, with forecasts calling for further population growth and a notable increase in households by 2028. This points to a larger tenant base over time and potential support for occupancy stability, particularly for well-managed, value-focused product.
Ownership costs in the immediate area are relatively accessible compared with many U.S. markets, which can create some competition with entry-level ownership. However, a neighborhood rent-to-income ratio near 0.27 suggests lighter affordability pressure for renters, which can aid lease retention and reduce turnover risk, based on commercial real estate analysis from WDSuite.
The property’s 1972 vintage is older than the neighborhood average construction year. Investors should plan for targeted capital expenditures and consider value-add renovations to improve competitiveness versus newer stock while leveraging the area’s strong service amenity profile.
Safety indicators are mixed but improving. The neighborhood’s overall crime standing is competitive among Houston neighborhoods (ranked 276 out of 1,491), and it trends safer than the national average. Violent incidents remain above national norms, yet recent year-over-year declines in both violent and property offenses signal a constructive trajectory. For investors, the direction of change is favorable, but prudent property-level security and community engagement remain appropriate.
Nearby employers span telecom, aerospace, energy services, and environmental services — a diversified base that supports workforce housing demand and commute convenience for renters in this submarket.
- Dish Network — telecom services (0.4 miles)
- Boeing: Bay Area Building — aerospace offices (15.2 miles)
- Calpine Turbine Maintenance Group — energy services (16.9 miles)
- Waste Management — environmental services (25.2 miles) — HQ
- Centerpoint Energy — utilities (25.3 miles) — HQ
This 22-unit, 1972 vintage asset offers value-add potential in a renter-heavy neighborhood where service amenities rank strongly within the Houston MSA. While neighborhood occupancy trends below the metro median, renter-occupied share is high, and rent-to-income levels indicate relatively manageable affordability — ingredients for steady leasing with hands-on management. According to CRE market data from WDSuite, NOI per unit in the area trails national norms, suggesting room for operational improvement at the asset level.
Demographic data aggregated within a 3-mile radius show modest recent population gains with projections for further population growth and a sizable increase in households by 2028, expanding the tenant base. Proximity to diversified employers across telecom, aerospace, utilities, and environmental services supports day-to-day leasing and renewal prospects, provided investors budget for targeted capex to modernize 1970s systems and finishes.
- Renter-heavy neighborhood and manageable rent-to-income support retention
- Strong day-to-day amenities across groceries, restaurants, parks, and childcare
- Household and population growth within 3 miles expands the tenant base
- Value-add and operational upside given 1972 vintage and submarket NOI levels
- Risk: Neighborhood occupancy sits below metro median; plan for active leasing and capex