| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 49th | Good |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2441 S Bypass 35, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 2009 |
| Units | 40 |
| Transaction Date | 2023-02-27 |
| Transaction Price | $4,500,000 |
| Buyer | STELLAR BANK |
| Seller | ALVIN KENTON APARTMENTS LTD |
2441 S Bypass 35 Alvin Multifamily Opportunity
2009 vintage and commuter-friendly positioning suggest competitive leasing potential for a 40-unit asset, according to WDSuite’s CRE market data. One clear takeaway for investors is demand resiliency supported by manageable rent-to-income dynamics in the surrounding inner-suburban neighborhood.
Located in Alvin’s inner-suburban fabric of the Houston-The Woodlands-Sugar Land metro, the immediate area functions as a drive-oriented neighborhood with everyday retail clustered along arterial corridors. Grocery access tracks above national midpoints, while sit-down restaurants, cafes, and parks are more limited, indicating a car-reliant lifestyle for residents.
For multifamily investors, tenure patterns matter: neighborhood data indicate a meaningful renter-occupied share, and within a 3-mile radius demographics show roughly two-fifths of housing units are renter-occupied. This supports a stable tenant base, though investors should plan for targeted marketing to compete with nearby ownership options when renewals arise.
The neighborhood’s housing stock skews older than the subject’s 2009 construction. Being newer than the area’s average vintage (1980s) can enhance competitive positioning versus legacy assets; however, a mid-2000s build may still require selective system updates and common-area refreshes to sustain leasing velocity and retention.
Within a 3-mile radius, population has grown modestly in recent years and households have increased, with forecasts pointing to further household growth and a smaller average household size by 2028. That pattern typically expands the renter pool and supports occupancy stability for well-managed properties. Median household incomes have trended upward, while median contract rents remain relatively accessible, a combination that can underpin steady collections and reduce turnover risk based on CRE market data from WDSuite.
Safety indicators compare favorably. The neighborhood ranks among the stronger performers within the Houston metro’s 1,491 neighborhoods and sits in the top quartile nationally for safety, based on WDSuite’s data. Recent year-over-year trends also show notable improvement in both property and violent offense rates. While outcomes vary by block and over time, these comparative signals support leasing and retention narratives for workforce and mid-market renters.
Proximity to corporate offices provides a broad employment base that supports renter demand and commute convenience, notably from telecom services, aerospace, energy services, and utilities represented below.
- Dish Network — telecom services (0.34 miles)
- Boeing: Bay Area Building — aerospace offices (15.28 miles)
- Calpine Turbine Maintenance Group — energy services (17.04 miles)
- Waste Management — waste services (25.42 miles) — HQ
- Centerpoint Energy — power utility (25.58 miles) — HQ
This 40-unit, 2009-built asset benefits from a newer vintage relative to much of the surrounding housing stock, positioning it competitively versus older properties while leaving room for targeted value-add through modernization and selective system upgrades. Within 3 miles, population growth, rising incomes, and an increasing household count point to renter pool expansion that can support occupancy and collections. Ownership costs in the area are moderate by regional standards, which can introduce some competition from entry-level for-sale options; however, relatively accessible rents and commute-friendly positioning help sustain demand.
According to CRE market data from WDSuite, neighborhood occupancy and amenity density trail stronger Houston submarkets, suggesting an operating plan that emphasizes active leasing, renewals, and curb-appeal improvements. Against that backdrop, a mid-2000s product with pragmatic upgrades can compete effectively on livability and price point while benefiting from diversified employment within commuting range.
- Newer 2009 vintage versus neighborhood average, with potential to capture a quality gap over older stock
- 3-mile demographics show rising incomes and household growth, expanding the tenant base and supporting occupancy
- Balanced rent-to-income profile supports retention and steady collections for a workforce-oriented property
- Diverse regional employment nodes within commuting distance underpin leasing stability
- Risk: amenity-light location and softer neighborhood occupancy require proactive leasing and ongoing capital attention