| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 28th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 905 N Avenue J, Freeport, TX, 77541, US |
| Region / Metro | Freeport |
| Year of Construction | 1998 |
| Units | 52 |
| Transaction Date | 2023-09-27 |
| Transaction Price | $6,317,500 |
| Buyer | GRIFFITH COMMONS INVESTORS I LLC |
| Seller | CASA QUINTANA LTD |
905 N Avenue J Freeport, TX Multifamily Investment
1998-built, 52-unit asset positioned for steady renter demand in a neighborhood with solid everyday amenities and manageable rent-to-income dynamics, according to WDSuite’s CRE market data.
The property sits in Freeport’s inner-suburban fabric of the Houston-The Woodlands-Sugar Land metro, where everyday convenience is a practical strength. Neighborhood amenity availability is above the metro median among 1,491 metro neighborhoods, with groceries and dining comparatively dense for this part of the coast, while cafes and pharmacies are thinner. For investors, this mix supports daily needs without relying on destination retail, which can aid lease retention.
Schools score competitively among Houston neighborhoods (399 out of 1,491) but remain below the national median, a factor that can modestly influence renter profiles toward workforce households. Median home values sit well below national norms, which can introduce some competition from entry-level ownership; however, the area’s rent-to-income ratio indicates moderate affordability pressure, helping sustain leasing and renewals rather than stretching household budgets.
Unit tenure data point to a meaningful renter-occupied share of housing, signaling a stable multifamily tenant base rather than a primarily ownership-driven block. Within a 3-mile radius, recent years show population softening alongside an increase in households, implying smaller household sizes and a gradual shift that can expand the renter pool over time. Forward-looking projections in WDSuite anticipate household growth that should support occupancy stability for well-positioned assets.
Vintage matters here: with an average neighborhood construction year around the early 1960s, a 1998 build stands relatively newer, offering competitive positioning versus older stock while still leaving room for targeted modernization to lift rents. Neighborhood occupancy has trailed broader metro performance in recent periods, so underwriting should emphasize leasing velocity and concession strategies; that said, restaurant and park access (both above national medians) provide livability advantages that support demand in a workforce housing context grounded in commercial real estate analysis.
Neighborhood-level crime metrics are not available in WDSuite for this location at the time of analysis. Investors often benchmark local safety perceptions against city and metro trends, evaluate multi-year patterns, and incorporate property-level measures (lighting, access controls, and visibility) into underwriting. Given the absence of a verified neighborhood ranking, prudent diligence would compare reported incident rates to Houston metro averages and focus on trend direction rather than single-year snapshots.
- Dish Network — corporate offices (31.1 miles)
This 52-unit property constructed in 1998 offers a relative age advantage versus the neighborhood’s older housing stock, positioning it well against 1960s-era comparables. Everyday amenities are accessible, household growth within a 3-mile radius is projected to expand the local renter base, and rent-to-income dynamics indicate manageable affordability pressure that can support renewals. According to CRE market data from WDSuite, neighborhood occupancy has been below metro averages recently, so performance will hinge on asset-level execution: thoughtful finishes, operational efficiency, and leasing discipline.
For value-oriented investors, targeted modernization can capture a spread to older nearby properties, while everyday amenity strengths (groceries, restaurants, parks) reinforce livability. Underwriting should account for potential competition from entry-level ownership and the need to monitor leasing velocity, but the combination of newer vintage, scale, and a renter-occupied presence in the area supports a durable long-term thesis.
- 1998 vintage offers competitive positioning versus older neighborhood stock, with clear value-add levers from selective upgrades.
- Projected household growth within 3 miles supports a larger tenant base and occupancy stability over time.
- Amenity access (groceries, dining, parks) enhances livability and aids retention for workforce renters.
- Moderate rent-to-income conditions support pricing discipline without overextending residents.
- Risk: neighborhood occupancy trails metro levels; lease-up pace and concessions require close management.