| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 64th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3318 County Road 89, Pearland, TX, 77584, US |
| Region / Metro | Pearland |
| Year of Construction | 1992 |
| Units | 48 |
| Transaction Date | 2007-04-01 |
| Transaction Price | $1,366,000 |
| Buyer | Ira William Hubbard |
| Seller | OFI Investments |
3318 County Road 89 Pearland Multifamily Investment
Neighborhood occupancy is exceptionally stable and renter demand is supported by strong incomes, according to WDSuite s CRE market data; investors should note this is a neighborhood-level signal, not a property guarantee.
Pearland s suburban positioning offers family-oriented fundamentals with a renter base that is smaller than many urban Houston areas. Neighborhood data indicate a high share of owner-occupied housing and a relatively low rent-to-income burden, which can support leasing durability and renewal behavior for quality multifamily assets. Average school ratings in the neighborhood sit in the top quartile nationally, reinforcing demand from households seeking stability.
Demographics aggregated within a 3-mile radius show recent softness in population and household counts, but forward-looking projections point to growth in both population and households by 2028, expanding the local tenant pool. Rising median and mean household incomes within this radius further underpin the ability to pay and reduce affordability pressure, a constructive backdrop for rent performance and occupancy management.
On amenities, immediate retail and services density within the neighborhood cluster is limited, reflecting an auto-oriented pattern; residents typically access shopping, dining, and services in nearby Pearland corridors. For investors, this tends to favor properties that emphasize on-site convenience and parking but may require thoughtful marketing on commute connectivity.
The average neighborhood construction year trends older than the subject s 1992 vintage, giving this property a relative competitive edge versus 1980s stock while still warranting selective system updates or modernization to capture value-add premiums. Neighborhood rent levels are moderate relative to incomes, and occupancy performance at the neighborhood level is among the strongest across the metro, supporting expectations for stable tenancy when assets are well-operated.
Neighborhood safety indicators compare favorably at the national level. According to WDSuite s CRE data, violent-offense measures are in the top quartile nationally with notable year-over-year improvement, and property-offense metrics trend above national safety norms as well. As with any location, conditions vary by micro-area and over time, so investors commonly validate asset-level security measures and recent trend lines during diligence.
The area draws from Houston s energy and infrastructure corporate base within a commutable radius, supporting renter demand from white-collar and technical employees. Nearby anchors include Dish Network, Occidental, Waste Management, CenterPoint Energy, and Enterprise Products Partners.
- Dish Network corporate offices (11.4 miles)
- Occidental corporate offices (14.2 miles)
- Waste Management corporate offices (15.1 miles) HQ
- Centerpoint Energy corporate offices (15.2 miles) HQ
- Enterprise Products Partners corporate offices (15.2 miles) HQ
This 48-unit, 1992-vintage asset sits in a Pearland neighborhood with nationally strong occupancy signals and a deepening income base, according to commercial real estate analysis from WDSuite. While the immediate neighborhood skews owner-occupied, that dynamic can limit competing rental supply and support stable absorption for well-positioned multifamily communities.
Demographics within a 3-mile radius point to rising incomes and projected growth in both population and households by 2028, expanding the tenant base and supporting rent performance. The 1992 construction offers a relative edge over older 1980s stock in the area, with practical opportunities for targeted upgrades to drive rent lift and retention without full repositioning.
- Neighborhood-level occupancy ranks among the metro s strongest, supporting leasing stability
- 3-mile radius shows income growth and projected household gains, enlarging the renter pool
- 1992 vintage is newer than much of nearby 1980s stock, enabling targeted value-add
- Proximity to major Houston corporate employers supports commuter demand
- Risks: car-dependent amenities and a primarily owner-occupied context may moderate renter depth; capex planning remains important