| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 32nd | Fair |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3101 California St, Dickinson, TX, 77539, US |
| Region / Metro | Dickinson |
| Year of Construction | 1983 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3101 California St Dickinson Multifamily Value-Add
Neighborhood occupancy runs high and renter demand is durable for this inner-suburb location, according to WDSuite’s CRE market data, suggesting stable leasing with room for operational upside. The property’s 1983 vintage points to clear renovation and capital planning angles relative to newer nearby stock.
This Inner Suburb location in Dickinson benefits from strong renter demand signals: the neighborhood occupancy rate is high (top decile nationally), and the share of housing units that are renter-occupied sits near two-fifths, indicating a sizable tenant base. Median asking rents in the neighborhood track near national mid-range levels, which can support pricing while maintaining competitiveness; per commercial real estate analysis from WDSuite, the local rent-to-income profile points to manageable affordability that can aid retention.
Livability is mixed: grocery access is reasonable for the metro, while cafes, parks, and pharmacies are comparatively sparse. Average school ratings land above the metro median (top quartile among 1,491 Houston-The Woodlands-Sugar Land neighborhoods), which can support family-oriented renter appeal.
The local housing stock skews newer than the subject’s 1983 construction year (area average 1997). For investors, that age gap underscores value-add potential via interior upgrades and systems modernization, as well as the need to budget for capital expenditures to remain competitive with younger assets.
Within a 3-mile radius, population and households have expanded meaningfully over the last five years, with additional growth projected. This trajectory signals a larger tenant base ahead and supports occupancy stability and lease-up performance for appropriately positioned units.
Home values in the neighborhood sit below national medians, which can make ownership more accessible relative to higher-cost markets. For multifamily investors, that implies potential competition from entry-level ownership options; however, stable occupancy and a growing renter pool suggest resilient baseline demand.
Safety trends are broadly competitive for the region: based on WDSuite’s data, the neighborhood’s overall crime rank is competitive among Houston-The Woodlands-Sugar Land neighborhoods (412 of 1,491), aligning around the national midpoint for comparable areas. Property offenses track near national averages.
Recent momentum is constructive: the violent offense rate has declined year over year, with improvement ranking in the top quintile nationally. As always, investors should underwrite to submarket trendlines rather than block-level assumptions and pair this with on-the-ground diligence.
Nearby employment centers span aerospace, power generation services, telecom, industrial gases, and environmental services—providing a diverse commuter base that can support renter demand and retention for workforce and mid-market units.
- Boeing: Bay Area Building — aerospace offices (9.0 miles)
- Calpine Turbine Maintenance Group — power generation services (9.3 miles)
- Dish Network — telecommunications (12.5 miles)
- Air Products — industrial gases (19.7 miles)
- Waste Management — environmental services (27.7 miles) — HQ
The investment case centers on durable renter demand, value-add potential, and demographic tailwinds. Neighborhood occupancy is strong (top decile nationally) and the renter-occupied share indicates a deep tenant base, while the 1983 vintage creates clear opportunities for renovations and targeted systems upgrades to improve positioning versus newer 1990s stock. Within a 3-mile radius, population and household growth—along with projected increases—point to a larger renter pool, supporting leasing stability and measured rent growth, based on CRE market data from WDSuite.
Counterpoints to underwrite include comparatively limited lifestyle amenities in the immediate area and the potential for competition from entry-level ownership given below-median home values. Prudent capital planning and an operational focus on retention and unit quality can help mitigate these risks.
- High neighborhood occupancy and sizable renter-occupied share support stable leasing
- 1983 vintage offers value-add and systems modernization opportunities
- 3-mile population and household growth expand the tenant base and support absorption
- Amenity-light micro-location and ownership competition are underwriting considerations