| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 49th | Good |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2401 S Johnson St, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 1973 |
| Units | 56 |
| Transaction Date | 2003-02-14 |
| Transaction Price | $2,450,000 |
| Buyer | RANKIN ROAD LLP |
| Seller | CHIPMONKS LLP |
2401 S Johnson St Alvin TX Multifamily Investment
Steady renter demand and comparatively accessible rents in the surrounding neighborhood point to durable occupancy, according to WDSuite’s CRE market data. This location offers investors a value-focused entry in Brazoria County with potential to capture growth from the broader Houston metro.
Located in Alvin, Texas within the Houston-The Woodlands-Sugar Land metro, the neighborhood scores C+ overall and is considered Rural in character. Neighborhood occupancy is stable near the metro median with recent improvement, supporting leasing consistency at similar assets; this refers to the neighborhood, not the property.
Local livability is defined more by everyday conveniences than destination amenities. Caf s are reasonably represented compared with many U.S. neighborhoods, but restaurants, parks, pharmacies, and childcare options are limited within the immediate area. For investors, this amenity-light profile often means residents rely on in-unit features and on-site services, which can aid retention if community programming and maintenance are well-managed.
Schools are a relative strength: the neighborhood s average school rating sits in the top quartile nationally and ranks well among 1,491 Houston-area neighborhoods. That educational backdrop can help stabilize family-oriented renter demand.
Rents in the neighborhood benchmark below many Houston submarkets, which, paired with a rent-to-income ratio around the low-teens, points to manageable affordability pressure and supports lease retention. Within a 3-mile radius, demographics show population growth over the past five years with a larger increase in households and a forecast for further gains by 2028, implying a larger tenant base and healthy apartment absorption potential. The 3-mile area also shows roughly two-fifths of housing units are renter-occupied, indicating a meaningful depth of multifamily demand.
Relative safety compares favorably. Within the 1,491-neighborhood Houston metro, the area performs in the top quartile for lower crime incidence. Nationally, the neighborhood sits above average on safety measures (around the mid- to upper-percentiles), and both violent and property offense rates have improved notably year over year. Use this as directional context for underwriting; safety levels reference the neighborhood, not the property.
Proximity to corporate employment supports workforce housing demand and commute convenience, with nearby roles concentrated in telecom, aerospace, and energy. The employers below reflect the closest anchors likely to influence renter retention and leasing.
- Dish Network — telecom offices (1.37 miles)
- Boeing: Bay Area Building — aerospace offices (16.14 miles)
- Calpine Turbine Maintenance Group — energy services (17.93 miles)
- Occidental — energy corporate offices (25.33 miles)
- Waste Management — environmental services (25.53 miles) — HQ
This 56-unit, 1973-vintage asset provides a mid-sized platform to capture steady renter demand in Alvin with potential value-add upside. Neighborhood rents trend below many Houston submarkets while national safety positioning is above average, which together support occupancy stability and measured pricing power. Based on CRE market data from WDSuite, neighborhood occupancy has improved and rent burdens sit near the low-teens, reinforcing retention for well-managed assets.
Older construction implies forward capital planning for systems and interiors, but it also opens practical renovation pathways to differentiate versus the area s newer stock. Within a 3-mile radius, population and households have been growing and are projected to continue rising, expanding the renter pool and supporting leasing over the hold period. A renter concentration around two-fifths of units in this radius indicates depth for multifamily product, while strong local school ratings can bolster family-oriented demand.
- Mid-sized 56-unit footprint with proven neighborhood occupancy trends
- Below-submarket rent positioning supports retention and steady absorption
- 1973 vintage offers value-add and modernization potential with targeted capex
- Expanding 3-mile renter base and strong school ratings aid long-term demand
- Risks: amenity-light micro-location and older systems may require enhanced on-site services and capital reserves