| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 55th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3340 E Walnut St, Pearland, TX, 77581, US |
| Region / Metro | Pearland |
| Year of Construction | 1972 |
| Units | 101 |
| Transaction Date | 2025-07-18 |
| Transaction Price | $8,179,500 |
| Buyer | G5 SHERWOOD VILLAGE LLC |
| Seller | SHERWOOD VILLAGE ASSOCIATES LLC |
3340 E Walnut St Pearland Multifamily Investment
Stabilized renter demand in Pearland’s inner-suburban corridor supports consistent operations, according to WDSuite’s CRE market data. Tight neighborhood occupancy and a solid commuter location offer investors defensible cash flow with measured value-add upside.
Pearland’s Inner Suburb location places 3340 E Walnut St within the Houston-The Woodlands-Sugar Land metro, where neighborhood fundamentals trend investor-friendly. Neighborhood occupancy is strong and sits in the top quartile nationally, signaling steady lease-up and retention potential. The area’s renter concentration is elevated for the metro, indicating a deep base of renter-occupied housing units that can support multifamily absorption and renewal stability.
Amenity access is a relative strength: restaurant and cafe density rank competitively among 1,491 Houston-area neighborhoods and land in the upper national percentiles, while groceries and pharmacies are above average. Park and childcare access are thinner, which may modestly temper family-oriented appeal but does not diminish workforce convenience for everyday needs.
Property vintage matters for positioning. The asset was built in 1972, while the neighborhood’s average construction year is 1986—older stock can require targeted capital planning (exteriors, systems, interiors) but also presents value-add levers to improve rent mix and unit competitiveness versus newer comparables.
Within a 3-mile radius, demographics point to a larger, growing tenant base: population and households have expanded in recent years and are projected to keep rising, supporting demand for rental units. Median incomes in the 3-mile area are high for the region, and neighborhood rent-to-income levels indicate manageable affordability pressure—favorable for lease retention and measured rent growth. Elevated home values and a higher value-to-income profile at the neighborhood level suggest a high-cost ownership market, which tends to sustain multifamily demand and pricing power.
On relative position, the neighborhood’s overall rating is A- and it ranks 245th out of 1,491 metro neighborhoods, which is competitive among Houston neighborhoods. Housing metrics are above the metro median, and amenity access sits above national midpoints—an attractive backdrop for multifamily property research focused on durable occupancy.
Safety indicators are mixed but trending better. The neighborhood’s safety profile sits below the national median (crime national percentile in the low 40s), positioning it mid-pack locally but not a top performer nationally. However, recent data show a notable decline in violent offense rates over the last year, placing the neighborhood in an above-average improvement cohort compared with peers, which can support stability perceptions among residents over time.
Interpreting local context: within the Houston metro’s 1,491 neighborhoods, this area’s standing is competitive rather than top-tier. For investors, that implies standard operational diligence—lighting, access control, and resident engagement—while recognizing the positive directional trend in reported violent offense reductions.
Proximity to major employers underpins workforce housing demand and commute convenience, notably across aerospace/defense, media/telecom, power, and environmental services. Nearby anchors include Boeing, Dish Network, Calpine Turbine Maintenance Group, Waste Management, and CenterPoint Energy.
- Boeing: Bay Area Building — aerospace offices (10.9 miles)
- Dish Network — media & telecom (10.9 miles)
- Calpine Turbine Maintenance Group — energy services (12.8 miles)
- Waste Management — environmental services (14.5 miles) — HQ
- Centerpoint Energy — utilities (14.7 miles) — HQ
3340 E Walnut St offers a blend of occupancy stability and upside in a Houston inner-suburban setting. Top-quartile neighborhood occupancy, elevated renter concentration, and a commuter-friendly location support durable cash flow. The asset’s 1972 vintage is older than the neighborhood average, creating clear value-add pathways through targeted renovations and systems upgrades to lift effective rents and competitiveness. According to CRE market data from WDSuite, neighborhood rent-to-income levels indicate manageable affordability pressure, which can aid renewal rates and steady rent growth.
Macro context is supportive: within a 3-mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base over the next cycle. Elevated for-sale home values at the neighborhood level reinforce reliance on rental options, while amenity access above national midpoints strengthens leasing appeal. Key risks include standard capex for older assets and a safety profile that, while improving, sits below the national median—factors to underwrite via reserves and operational best practices.
- Top-quartile neighborhood occupancy supports leasing stability and renewals.
- 1972 vintage offers clear value-add levers through targeted renovations and system upgrades.
- Growing 3-mile population and household counts expand the tenant base over the next cycle.
- Elevated ownership costs locally help sustain multifamily demand and pricing power.
- Risks: older asset capex and a safety profile below the national median; mitigate via reserves and operational best practices.