| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 25th | Poor |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1010 Magnolia St, Freeport, TX, 77541, US |
| Region / Metro | Freeport |
| Year of Construction | 1984 |
| Units | 112 |
| Transaction Date | 2013-01-14 |
| Transaction Price | $93,100 |
| Buyer | ZT EAST HOUSTON PROEPRTY LLC |
| Seller | IMFI REMINGTON APRARMTNS LLC |
1010 Magnolia St Freeport TX Multifamily Opportunity
112-unit garden community positioned for operational upside in a lower-cost coastal submarket, according to WDSuite s CRE market data. Steady renter demand in Freeport and proximity to regional employment corridors support a pragmatic value-add hold.
Livability signals point to a practical workforce location with modest amenity density. Neighborhood amenities rank below the metro median among 1,491 Houston-The Woodlands-Sugar Land neighborhoods, and restaurant and grocery access sit in the lower national percentiles. Average school ratings are also on the lower end (15th percentile nationally), which can influence family renter profiles and lease management planning.
The neighborhood s average construction year is 1971, while the property was built in 1984. This vintage positioning is somewhat newer than the local stock, offering relative competitiveness versus older assets, though investors should plan for targeted capital projects to modernize systems and common areas where needed.
Unit tenure patterns within the neighborhood show an estimated 41% of housing units are renter-occupied. For multifamily demand, this renter concentration indicates a meaningful tenant base to support leasing, with ownership-leaning dynamics that can temper turnover pressure during stable periods.
Within a 3-mile radius, demographics show recent population softness but an increase in household counts and smaller average household sizes, suggesting a gradual shift toward more households occupying similar space. Projections through 2028 indicate growth in both population and households, which supports a larger tenant base and occupancy stability over time, based on CRE market data from WDSuite. Median contract rents in the neighborhood track below the metro median (ranked in the lower half among 1,491 neighborhoods), which can aid lease-up and retention while leaving room for measured rent optimization as renovations elevate product quality.
Comparable, neighborhood-level safety data are not available in this dataset for precise benchmarking. Investors should evaluate submarket comps and property operations to understand on-site safety trends and resident experience in context with broader Houston metro patterns.
- Dish Network corporate offices (32.8 miles)
Built in 1984 with 112 units, the asset sits slightly newer than the neighborhood s average vintage, creating a clear path for targeted value-add and operational improvements. Neighborhood occupancy trends are weaker relative to the metro, so underwriting should emphasize leasing execution and resident retention; offsetting this, median contract rents remain on the lower side locally, supporting demand capture and potential rent repositioning aligned with upgrades.
Within a 3-mile radius, household counts are expanding and are projected to continue rising through 2028, pointing to a larger tenant base and improved absorption potential. According to commercial real estate analysis from WDSuite, positioning below the metro rent median can support lease-up and renewal velocity, while selective capital plans can bolster competitiveness versus older nearby stock.
- Newer-than-neighborhood vintage (1984) enables targeted value-add and modernization
- Below-metro rent positioning supports demand capture and renewal velocity
- 3-mile household growth outlook supports a larger renter pool and absorption
- Risk: neighborhood occupancy trends trail metro levels, requiring active leasing and retention management