| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 43rd | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 E Coombs St, Alvin, TX, 77511, US |
| Region / Metro | Alvin |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2014-06-20 |
| Transaction Price | $806,300 |
| Buyer | KINGTON CONDOS LLC |
| Seller | MUNSON LESLIE D |
601 E Coombs St Alvin, TX Multifamily Investment
High renter concentration and steady 3-mile household growth point to durable tenant demand, according to WDSuite’s CRE market data. Location fundamentals within the Houston metro support a practical, workforce-oriented strategy with manageable leasing risk.
This Inner Suburb location in Alvin is competitive among Houston neighborhoods (B+ rating; ranked 409 out of 1,491 in the metro), offering day-to-day convenience that supports renter retention. Neighborhood amenities skew practical: grocery, pharmacy, and restaurant density sit in the top decile nationally, while café density is limited. School quality trends near the national middle, providing stable but not differentiated family appeal.
Renter-occupied housing accounts for an estimated 56.5% of units in the neighborhood, placing it in the top decile nationally for renter concentration. For investors, that depth helps sustain the tenant pipeline even when leasing competition increases. By contrast, neighborhood occupancy is below national norms, so performance relies more on hands-on leasing and asset positioning than on tight market mechanics.
Within a 3-mile radius, the population has been growing and households have expanded faster than population, indicating smaller household sizes and a broader tenant base. Forward-looking projections call for continued population growth and a notable increase in households through the next five years, which supports occupancy stability and leasing velocity for well-managed assets.
The property’s 1976 vintage is slightly older than the neighborhood’s average stock (around 1980). That creates a straightforward value‑add path: targeted renovations and systems upgrades can sharpen competitive positioning versus newer comparables, while capex planning should account for aging building systems.
Affordability dynamics are balanced for multifamily. Median home values in the neighborhood are lower than many U.S. areas, which can create some ownership competition, yet rent-to-income ratios trend on the lower side locally, supporting lease retention and reducing near-term affordability pressure for renters. These conditions favor steady occupancy when paired with disciplined rent management and asset-level improvements, based on commercial real estate analysis from WDSuite.
Safety signals for the neighborhood are mixed but improving. Overall, the area sits above the national middle for safety (higher percentile nationally is better), yet violent incidents track below national norms. Importantly, both violent and property offense rates have declined meaningfully over the last year, with property crime improvement ranking among the stronger national improvements. For investors, the directional trend reduces downside risk while emphasizing the importance of property-level measures and tenant screening.
Proximity to a diverse employer base supports workforce housing demand and commute convenience, led by telecommunications, aerospace, and energy-related corporate offices reflected below.
- Dish Network — telecommunications corporate offices (0.8 miles)
- Boeing: Bay Area Building — aerospace offices (14.5 miles)
- Calpine Turbine Maintenance Group — energy services offices (16.3 miles)
- Waste Management — environmental services corporate offices (24.5 miles) — HQ
- Centerpoint Energy — electric & gas utility corporate offices (24.6 miles) — HQ
601 E Coombs St is a 20‑unit, 1976 vintage asset positioned in a renter-heavy Alvin neighborhood. The submarket’s practical amenity mix and above-average renter concentration support a stable tenant base, while 3‑mile household growth and forecast expansion signal ongoing renter pool expansion. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than national norms, so outcomes hinge on effective leasing and value‑add execution rather than market tightness.
Investor upside centers on operational improvement and selective renovations to differentiate against aging stock, balanced by disciplined rent setting that leverages relatively low rent-to-income ratios to maintain retention. Ownership remains more accessible locally than in many metros, which can introduce competition with for-sale options; however, sustained household growth and commute access to diverse employers underpin long-term multifamily demand.
- Renter-heavy neighborhood supports consistent tenant demand and leasing velocity.
- 3-mile household growth and forecast expansion reinforce long-run occupancy stability.
- 1976 vintage offers value-add potential via unit/interior upgrades and systems modernization.
- Practical amenity access and proximity to diversified employers aid retention for workforce renters.
- Risks: below-national occupancy requires active leasing; relatively accessible ownership can compete with rentals; capex needs typical of older assets.