| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 55th | Good |
| Amenities | 8th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16700 Golf Club Dr, Crosby, TX, 77532, US |
| Region / Metro | Crosby |
| Year of Construction | 1984 |
| Units | 78 |
| Transaction Date | 2010-03-25 |
| Transaction Price | $1,562,500 |
| Buyer | SPRING HILL VILLAGE APARTMENTS LP |
| Seller | CHRISTIANSON JOHN D |
16700 Golf Club Dr Crosby Multifamily Opportunity
Neighborhood occupancy sits around the mid-range for the Houston metro, and renter affordability appears manageable, according to WDSuites CRE market data. This positioning can support steady performance for a 78-unit asset with value-add potential informed by disciplined commercial real estate analysis.
Crosby is a rural-edge pocket within the Houston-The Woodlands-Sugar Land metro, where day-to-day amenity density is limited relative to urban cores. The neighborhood ranks 1,280 out of 1,491 locally for amenities, indicating residents rely on a wider drive shed for retail and services; investors should underwrite to auto-oriented demand and on-site conveniences to support retention.
Neighborhood occupancy is in the mid-50th national percentile, suggesting generally stable leasing conditions without outsized volatility (per CRE market data from WDSuite). Median contract rents in the area trend in the upper national percentiles, while the rent-to-income ratio sits below national midpoints, which can support collections and reduce near-term affordability pressure.
The average neighborhood construction year is 1994 (ranked above the metro median among 1,491 neighborhoods), while the propertys 1984 vintage is older than local stocka setup that can create value-add and capital planning opportunities to compete against newer assets.
Within a 3-mile radius, population and households have expanded and are projected to continue growing into the next five years, indicating a larger tenant base over time. Renter-occupied housing units remain a minority share locally, which points to a thinner multifamily base today but also room for renter pool expansion as households increase. Strong average school ratings sit in the top quartile nationally, an attribute that can aid family retention and stabilize longer tenancy.
Home values track near national midpoints and value-to-income levels are comparatively accessible versus many Sun Belt submarkets; this can introduce some competition from ownership alternatives. Investors should manage renewal strategy and amenity programming to sustain pricing power where supported by demand.
Safety indicators for the neighborhood are mixed relative to peers. Compared with other Houston-area neighborhoods, overall crime ranks in a competitive range (522 out of 1,491), while national percentiles place violent and total crime near the lower half of U.S. neighborhoods. Property offenses trend somewhat better than national midpoints, and recent data show a modest year-over-year improvement for property offenses but an uptick in violent offenses; investors should incorporate this into security, lighting, and community-engagement plans.
The area draws from a broad, diversified employment base that supports workforce housing demand and commute convenience, including FedEx Office, Air Products, Halliburton, Calpine, and Waste Management.
- FedEx Office Print & Ship Center logistics/printing services (10.3 miles)
- Air Products industrial gases (12.1 miles)
- Halliburton oilfield services (15.2 miles) HQ
- Calpine independent power (20.1 miles) HQ
- Waste Management environmental services (20.3 miles) HQ
This 78-unit, 1984-vintage asset sits in a low-amenity, drive-oriented pocket of the Houston metro where occupancy trends are steady and rent levels sit in upper national percentiles but rent-to-income remains manageable. The vintage is older than the neighborhoods 1994 average, creating clear value-add and capital planning levers to sharpen competitiveness against newer stock. Within a 3-mile radius, population and households have grown and are projected to keep expanding, supporting a larger tenant base and underpinning occupancy stability, according to CRE market data from WDSuite.
Ownership costs in the area are relatively accessible versus many metros, which can create some competition with rentals; however, diversified employment within roughly 103 miles and solid school quality support retention for family and workforce renters. Underwriting should account for limited nearby amenities and prudent security planning, while a targeted upgrade scope can capture durable demand and enhance pricing power where supported by the market.
- Stable neighborhood occupancy with manageable rent-to-income supports collections
- 1984 vintage offers value-add and CapEx pathways versus 1994 neighborhood average
- 3-mile population and household growth expand the renter pool and support leasing
- Proximity to diversified employers within ~103 miles aids tenant retention
- Risks: low amenity density, relatively accessible ownership options, and mixed safety trends