| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 31st | Fair |
| Amenities | 8th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 202 Hackberry St, Clute, TX, 77531, US |
| Region / Metro | Clute |
| Year of Construction | 1980 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
202 Hackberry St Clute Multifamily Value-Add Opportunity
Neighborhood renter concentration is comparatively high, while occupancy has trended up recently at the neighborhood level, according to WDSuite’s CRE market data. For investors, that mix points to steady tenant depth with operational upside through leasing and renovation execution.
Situated in Clute within the Houston-The Woodlands-Sugar Land metro, the property sits in a suburban neighborhood with a C- rating (neighborhood rank 1,336 of 1,491). Amenities are limited locally (amenities rank below the metro median), so investors should underwrite convenience more to regional corridors than to immediate walkable options.
At the neighborhood level, renter-occupied housing accounts for a sizable share (rank 439 of 1,491), which is competitive among Houston neighborhoods and in the top quintile nationally by renter concentration. This indicates a broad tenant base that can support leasing activity for multifamily assets, even as location convenience is more drive-oriented.
Neighborhood occupancy is 79.2% with improvement over the last five years; while this is below metro averages (rank 1,403 of 1,491), the positive trajectory suggests room for professional management to capture stabilization. Median contract rents within a 3-mile radius have grown over the past five years, and household incomes in the same 3-mile radius are higher on average than the immediate neighborhood’s median income, supporting attainable positioning rather than luxury.
Within a 3-mile radius, recent data shows a slight population dip alongside relatively stable household counts, with forecasts pointing to more households but smaller average household sizes over the next five years. For multifamily investors, that typically translates to a larger pool of smaller households entering the market and supports demand for efficiently sized units, aiding occupancy stability and lease-up velocity.
Home values in the neighborhood are lower than many U.S. areas (national percentile 24), yet the value-to-income ratio is in a higher national percentile (77), indicating a high-cost ownership market relative to local incomes. This combination, along with a relatively low rent-to-income ratio (national percentile 11), can sustain renter reliance on multifamily housing and support retention.
Comparable safety data at the neighborhood level was not available in WDSuite for this area. Investors typically benchmark conditions against broader Houston-The Woodlands-Sugar Land trends and corroborate with local sources to understand directional patterns rather than block-level specifics.
Regional employers within commuting distance help underpin renter demand in workforce segments, with proximity to corporate offices that draw talent across operations, technology, and energy-related services.
- Dish Network — corporate offices (27.9 miles)
- Texas Instruments — corporate offices (40.7 miles)
- Boeing: Bay Area Building — corporate offices (42.6 miles)
- Calpine Turbine Maintenance Group — corporate offices (44.2 miles)
Built in 1980, this 120-unit asset offers classic interiors and systems that are candidates for targeted value-add, positioning it to compete against older local stock while planning for near-term capital items. Neighborhood occupancy has lagged but improved over five years, and renter concentration is high, suggesting depth of demand if pricing and finishes align with the area’s workforce profile. Based on CRE market data from WDSuite, ownership costs relative to income remain elevated locally while rent burdens are comparatively lower, which can support tenant retention and steady absorption.
Demographics aggregated within a 3-mile radius indicate modest population contraction but a shift toward more, smaller households over the forecast period — a pattern that can expand the renter pool for efficiently sized units and support stabilization strategies. Limited immediate amenities and drive-oriented living should be reflected in underwriting through marketing and concessions planning.
- 1980 vintage with clear value-add and capital planning opportunities
- High renter concentration supports tenant depth and leasing velocity
- Lower rent-to-income levels reinforce retention potential versus ownership
- Forecast shift to more, smaller households supports demand for efficient units
- Risks: below-metro neighborhood occupancy and limited nearby amenities