| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 77th | Best |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 Hobbs Rd, League City, TX, 77573, US |
| Region / Metro | League City |
| Year of Construction | 1978 |
| Units | 108 |
| Transaction Date | 2013-07-31 |
| Transaction Price | $5,400,000 |
| Buyer | GR Partners League City, LLP |
| Seller | Oaks of League City Holidns, Inc. |
305 Hobbs Rd, League City TX Multifamily Investment
Positioned in an inner-suburb pocket with mid-90s neighborhood occupancy, this asset benefits from steady renter demand and high local incomes, according to WDSuite’s CRE market data. The submarket’s stability and commuter access support durable cash flow potential relative to broader Houston trends.
League City’s inner-suburb setting offers day-to-day convenience with strong access to groceries and dining; neighborhood amenities score above the metro median with restaurant density in the top quartile nationally and parks coverage similarly elevated. Cafes and pharmacies are thinner nearby, indicating some amenity gaps investors should note when benchmarking against core Houston submarkets.
Neighborhood fundamentals point to demand resilience: the area posts a 94%+ occupancy rate at the neighborhood level (not the property), and a renter-occupied share near the mid-30s, signaling a meaningful tenant base without overreliance on renting. School quality trends around the metro average, supporting broad family-oriented appeal while keeping expectations grounded for rent premiums.
Relative standing within Houston-The Woodlands-Sugar Land is competitive, with an overall neighborhood rank of 197 out of 1,491 — above the metro median — and safety measures that outperform many peer areas. Household incomes rank well above national norms, and rent-to-income sits in a healthier range than many metros, which can support retention and moderate pricing power through cycles, based on commercial real estate analysis from WDSuite.
Demographics within a 3-mile radius show recent growth in population and households, with forecasts calling for further population gains and a larger household base by 2028. This trajectory indicates a larger tenant pool over time, supporting occupancy stability, while the neighborhood’s average construction year skews newer than the subject’s 1978 vintage — a gap that can translate to value-add opportunity through targeted renovations.
Safety indicators compare favorably for investors evaluating leasing stability. The neighborhood’s crime profile is above the metro average and in the upper tiers nationally, with recent year-over-year declines in both violent and property offenses, according to WDSuite’s CRE market data. Translated to the local context, this area is competitive among Houston neighborhoods (ranked 149 out of 1,491) and sits above the national median for safety.
As always, crime varies by block and over time; investors should underwrite with both neighborhood-level trends and property-level security considerations in mind rather than treating any single measure as definitive.
The employment base mixes aerospace, energy, industrial services, and telecommunications, supporting commuter convenience and broad renter demand aligned with regional industry drivers.
- Boeing: Bay Area Building — aerospace offices (6.4 miles)
- Calpine Turbine Maintenance Group — power services (7.8 miles)
- Dish Network — telecommunications (9.4 miles)
- Air Products — industrial gases (18.7 miles)
- Waste Management — waste services (23.1 miles) — HQ
The 1978, 108-unit property sits within a Houston inner-suburb neighborhood that shows solid renter demand, above-median safety, and household incomes that support rent levels without stretching budgets. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and the renter-occupied share near the mid-30s suggests a deep, but not saturated, tenant base.
With the area’s average construction year newer than the subject, there is clear value-add potential from interior upgrades and system modernization to keep pace with competitive stock. Within a 3-mile radius, recent and forecast population and household growth point to a larger tenant base over the next several years, reinforcing lease-up and retention prospects while keeping an eye on competition from relatively accessible homeownership alternatives in this part of Galveston County.
- Inner-suburb location with healthy neighborhood occupancy supporting durable leasing
- Above-median safety and strong household incomes bolster retention
- 1978 vintage offers value-add upside versus newer neighborhood stock
- 3-mile population and household growth expand the future renter pool
- Risk: relatively accessible ownership options may temper pricing power in some vintages