| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 18th | Poor |
| Demographics | 57th | Good |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 506 N McKinney St, Sweeny, TX, 77480, US |
| Region / Metro | Sweeny |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | 2017-09-25 |
| Transaction Price | $159,000 |
| Buyer | HVM 2016 SWEENY LTD |
| Seller | MCKINNEY MANOR APARTMENTS LTD |
506 N McKinney St, Sweeny TX — Multifamily Investment
1985-vintage, 27-unit asset positioned for value-add in a rural submarket where neighborhood occupancy trends are soft but stable renter demand is supported by regional employment, according to WDSuite s CRE market data.
Sweeny sits on the southwestern edge of the Houston-The Woodlands-Sugar Land metro and functions as a rural, workforce-oriented pocket. Neighborhood amenities index below the metro median (few cafes, groceries, parks, and pharmacies nearby), which places more emphasis on in-unit features and on-site services to drive retention. Restaurant density is closer to metro norms, but daily conveniences remain limited within the immediate neighborhood.
The local housing stock skews older than the metro average (neighborhood average vintage is 1968), which makes a 1985 construction competitive versus much of the surrounding inventory. For investors, that typically translates into moderate capital planning needs paired with potential to outperform older comparables after targeted renovations and modernization.
Neighborhood occupancy is in the lower decile nationally and sits well below the metro median, per WDSuite s commercial real estate analysis. That backdrop requires disciplined leasing, but the broader 3-mile area shows a modest increase in households and population in recent years, with projections indicating further household growth through 2028. These trends point to a gradually expanding tenant base that can support stabilization efforts over a longer hold.
Within a 3-mile radius, roughly one-quarter of housing units are renter-occupied, indicating a smaller but meaningful pool of renters. Median home values are relatively accessible for the metro, which can create some competition with ownership; however, that same context supports workforce housing demand and can aid lease retention when units are well-maintained and priced to local incomes.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location. Investors typically benchmark Sweeny against Brazoria County and the Houston metro to gauge relative safety trends and their potential influence on leasing and retention. Given the rural context, underwriting should incorporate management visibility, lighting, access control, and resident screening as operational mitigants.
The property draws on regional employment nodes within commuting distance, supporting a workforce renter base tied to diversified corporate offices. The most relevant nearby employers include Texas Instruments and Dish Network.
- Texas Instruments — semiconductors (36.5 miles)
- Dish Network — telecommunications (37.2 miles)
This 27-unit, 1985-built property offers a pragmatic value-add angle in a rural submarket with limited immediate amenities but access to broader Houston-area employment. Based on CRE market data from WDSuite, the neighborhood s occupancy sits below metro norms, suggesting the need for active leasing and asset management. Yet the 3-mile area shows ongoing population and household growth, indicating a gradually expanding renter pool that can support stabilization, especially if renovations enhance livability and in-place operations focus on tenant retention.
Relative to an older surrounding housing stock, the 1985 vintage is competitively positioned and may require targeted updates rather than full system overhauls. Ownership remains comparatively accessible in this part of Brazoria County, which can temper pricing power; however, well-executed value-add and durable operations can still capture workforce demand and sustain occupancy over a longer horizon.
- 1985 vintage outperforms older local stock, enabling focused renovation for rent and retention gains.
- 3-mile demographics indicate population and household growth, expanding the tenant base over time.
- Workforce demand supported by regional employers within commuting range.
- Risk: neighborhood occupancy trails metro norms; requires hands-on leasing and competitive unit quality.
- Risk: limited nearby amenities and relatively accessible ownership may constrain pricing power.