| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 70th | Best |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3301 Hughes Ln, Dickinson, TX, 77539, US |
| Region / Metro | Dickinson |
| Year of Construction | 1976 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3301 Hughes Ln, Dickinson TX Multifamily Value-Add
Neighborhood fundamentals point to tight occupancy and solid household incomes, according to WDSuite's CRE market data, supporting renter demand in the area; these indicators reflect neighborhood conditions, not the property's performance.
Located in suburban Dickinson within the Houston-The Woodlands-Sugar Land metro, the neighborhood is competitive among 1,491 metro neighborhoods (A- rating; rank 280), with full neighborhood occupancy reported. This suggests stable demand conditions for multifamily, while emphasizing that occupancy refers to the neighborhood, not this asset.
Amenity access is mixed: pharmacies are strong (around the 90th percentile nationally), restaurants are favorable (upper quartile), and grocery access is above average. Parks and cafes are limited, which places more weight on in-unit and on-site features for renter appeal.
Tenure patterns point to an owner-leaning area: roughly a quarter of neighborhood housing units are renter-occupied, indicating a defined but not saturated renter pool. Within a 3-mile radius, households have grown meaningfully in recent years and are projected to expand further, with forecasts indicating sizable household growth and a larger renter pool by 2028. This expansion supports occupancy stability and leasing velocity for well-positioned communities.
Income levels benchmark above most U.S. neighborhoods, while the rent-to-income ratio trends favorable for retention. Home values sit above national midpoints, creating a high-cost ownership market relative to many areas; this typically sustains reliance on multifamily housing and can support pricing power, though it also raises expectations for maintenance and amenities. The average neighborhood construction year is 2001, so assets built earlier may benefit from targeted renovations to remain competitive.
Safety indicators compare well nationally: overall crime metrics sit roughly in the top quartile of neighborhoods nationwide, based on WDSuite's data. Year-over-year trends show notable declines in both property and violent offense rates, signaling an improving environment. These observations describe neighborhood conditions rather than the specific block or property.
Within the Houston-The Woodlands-Sugar Land metro, the neighborhood's positioning is above the metro average on several safety measures. As always, investors should underwrite to property-level history and management practices alongside neighborhood trends.
Nearby employment draws include Dish Network, Boeing's Bay Area Building, Calpine Turbine Maintenance Group, Air Products, and Waste Management. Proximity to these employers supports commuter convenience and contributes to a steady renter base and lease retention potential.
- Dish Network — telecommunications (9.5 miles)
- Boeing: Bay Area Building — aerospace offices (9.8 miles)
- Calpine Turbine Maintenance Group — energy services (10.6 miles)
- Air Products — industrial gases (21.4 miles)
- Waste Management — environmental services (27.0 miles) — HQ
This 96-unit asset, built in 1976, is older than the neighborhood's average vintage. That positioning can create value-add potential through system upgrades, unit renovations, and modernization to compete with early-2000s product in the submarket. According to commercial real estate analysis from WDSuite, the surrounding neighborhood reports full occupancy and strong income benchmarks, while restaurant, pharmacy, and grocery access is favorable relative to national peers. Together, these factors support demand resilience and lease retention for well-executed operations.
Within a 3-mile radius, population and household counts have grown and are projected to expand further by 2028, implying a larger tenant base and supporting occupancy stability. The area's owner-leaning tenure and elevated ownership costs generally reinforce renter reliance on multifamily housing; however, competition with for-sale options means refreshed finishes and responsive management can be differentiators for sustained pricing power.
- Tight neighborhood occupancy and above-average incomes support stable renter demand
- 1976 vintage offers value-add and capex-driven upside versus newer local stock
- 3-mile population and household growth expands the renter pool and supports lease-up
- Amenity mix (restaurants, pharmacies, groceries) enhances livability and retention
- Risk: older vintage and owner-leaning market require targeted renovations and disciplined leasing strategy