| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 56th | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 510 That Way St, Lake Jackson, TX, 77566, US |
| Region / Metro | Lake Jackson |
| Year of Construction | 1980 |
| Units | 73 |
| Transaction Date | 2008-10-29 |
| Transaction Price | $4,086,300 |
| Buyer | DK THAT WAY LLP |
| Seller | AIMCO BRENTWOOD LLC |
510 That Way St, Lake Jackson Multifamily Investment
Neighborhood renter concentration and manageable rent-to-income levels point to steady tenant demand, according to WDSuite’s CRE market data. Lease-up may require competitive positioning given submarket occupancy softness but fundamentals support durable cash flow when managed actively.
Located in Lake Jackson’s inner-suburban context of the Houston-The Woodlands-Sugar Land metro, the neighborhood rates B and sits above the metro median on several household income and amenity measures, per WDSuite. Dining and café density are competitive among 1,491 metro neighborhoods and in the top quartile nationally for restaurants and cafés, while pharmacies are reasonably accessible. By contrast, nearby grocery, parks, and childcare options are thinner, so residents often rely on short drives for daily needs—something to consider for renter appeal and marketing.
Multifamily conditions are mixed: neighborhood occupancy trends below the metro median, suggesting the need for sharp operations and pricing discipline. At the same time, the share of housing units that are renter-occupied is around one-third, indicating a meaningful tenant base that supports leasing stability for well-positioned assets. Median contract rents sit near national mid-range levels, and the rent-to-income profile indicates modest affordability pressure—favorable for retention with prudent renewals.
Within a 3-mile radius, demographics show recent population growth and a modest increase in households, with forecasts calling for further household expansion and slightly smaller average household size. For investors, that points to a gradually enlarging renter pool and diversified age mix that can support occupancy and absorption across a range of unit types.
Ownership costs in the neighborhood track close to national medians, which can create some competition with entry-level ownership. For multifamily owners, that typically means steady demand for professionally managed rentals, but with pricing power tied to service quality, finishes, and access to employment corridors rather than scarcity alone.
Comparable safety benchmarks are not available in WDSuite’s current dataset for this neighborhood. Investors typically contextualize neighborhood safety by comparing city and county trend reports and property-level incident history rather than block-level claims.
A prudent approach is to triangulate multiple sources over time and focus on property operations—lighting, access controls, and resident engagement—to support leasing and retention regardless of broader regional trends.
Regional employment is anchored by technology, aerospace, and energy-related corporate offices within commuting range, supporting renter demand through diversified white- and gray-collar jobs.
- Dish Network — telecommunications (27.9 miles)
- Texas Instruments — semiconductors (38.2 miles)
- Boeing: Bay Area Building — aerospace offices (42.8 miles)
- Calpine Turbine Maintenance Group — energy services (44.5 miles)
510 That Way St is a 73-unit asset positioned in a neighborhood with a meaningful renter base and mid-range rent levels, supporting day-one demand and renewal potential. According to CRE market data from WDSuite, neighborhood occupancy trends trail the metro median, so returns will lean on hands-on leasing, competitive finishes, and service quality rather than scarcity. The 1980 vintage suggests typical capital planning for systems refresh and targeted value-add to defend rent positioning versus newer stock.
Within a 3-mile radius, population has grown and households are projected to expand further with smaller average household sizes—favorable for renter pool expansion and unit absorption. Ownership costs track near national medians, creating some competition with entry-level buying, but the neighborhood’s rent-to-income profile indicates manageable affordability pressure that can support retention when renewal strategies are calibrated.
- Stable renter base and mid-range rents support day-one demand and renewals
- 1980 vintage offers value-add potential via interior and systems upgrades
- 3-mile household growth and smaller household sizes expand the renter pool
- Manageable rent-to-income dynamics support retention with disciplined renewals
- Risks: sub-metro occupancy, thin nearby groceries/parks/childcare, and competition from accessible ownership