| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 39th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2929 Highway 90, Crosby, TX, 77532, US |
| Region / Metro | Crosby |
| Year of Construction | 1983 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2929 Highway 90 Crosby, TX Multifamily Investment
Neighborhood occupancy trends sit in the high-80s and renter demand is supported by a growing 3-mile household base, according to WDSuite’s CRE market data. Positioning focuses on attainable rents relative to local incomes, which can aid retention through cycles.
Crosby sits on the outer edge of the Houston metro with a Rural profile and a neighborhood rating of B, offering investors a balance of space and steady daily-needs access. Amenity access is competitive among Houston neighborhoods (188th of 1,491), and national amenity measures land in the low-60s percentiles — a practical backdrop for workforce-oriented multifamily.
Schools in the neighborhood track below the national median (average ratings around 2 of 5), which can influence unit-mix appeal for family renters. Daily conveniences like groceries, pharmacies, parks, and cafes show “competitive among Houston neighborhoods” positioning by rank, with national percentiles generally in the mid-50s to low-70s, indicating serviceable access rather than destination-driven draw.
The property’s 1983 vintage is slightly newer than the neighborhood’s average stock from the late 1970s. That positioning can be advantageous versus older comparables, while investors should still underwrite modernization of interiors and building systems to improve competitiveness and reduce future capital surprises.
Renter-occupied housing comprises roughly a quarter of neighborhood units, with national metrics placing renter concentration a bit above the U.S. median. For multifamily owners, this suggests a meaningful, if not dominant, tenant base that can support occupancy, especially at attainable price points. Within a 3-mile radius, WDSuite data shows double‑digit population and household growth over the last five years and further gains projected, expanding the local renter pool and supporting lease-up resilience.
Neighborhood occupancy sits below the metro median by rank (1,140th of 1,491), but rent-to-income and home value metrics indicate a high‑cost ownership market relative to incomes (upper‑quartile value-to-income ratio nationally). That context tends to sustain rental demand and pricing power for appropriately positioned assets, particularly those offering practical finishes and budget-friendly rents.
Safety indicators for the neighborhood trail national medians, with ranks in the lower half of Houston neighborhoods (e.g., crime rank 870 of 1,491). National percentiles point to comparatively higher property and violent offense rates than many U.S. neighborhoods, so prudent owners often plan for visible security measures and lighting, along with resident screening and insurance considerations.
Recent-year trends in WDSuite data show a notable uptick in reported offense rates, underscoring the need to underwrite operating practices that support resident safety and asset protection. Framed appropriately, these steps can help stabilize retention and control non-rent operating costs.
Proximity to industrial, energy, and business‑services employers supports workforce housing demand and commute convenience. Notable nearby employers include Air Products, FedEx Office, Halliburton, Calpine Turbine Maintenance Group, and Calpine.
- Air Products — industrial gases (9.7 miles)
- FedEx Office Print & Ship Center — business services (12.9 miles)
- Halliburton — energy services (17.1 miles) — HQ
- Calpine Turbine Maintenance Group — power generation services (20.1 miles)
- Calpine — power generation (20.5 miles) — HQ
For investors evaluating a 59‑unit suburban workforce asset, this 1983 property offers attainable rents in a neighborhood where ownership costs run high relative to incomes, reinforcing reliance on rental housing. While neighborhood occupancy ranks below the metro median, population and household growth within a 3‑mile radius expand the tenant base and can support steady leasing for practical, well‑managed product.
According to CRE market data from WDSuite, local rent levels sit near national income capacity while home value-to-income ratios trend in the upper quartile nationally — a combination that supports rent collections and retention at value-oriented price points. The asset’s slightly newer vintage than the neighborhood average suggests competitive positioning with clear value‑add pathways via interior updates and building‑system modernization.
- Expanding renter pool: 3‑mile population and household growth support demand durability and occupancy.
- Attainable rents vs. incomes: pricing aligned with local earning power aids collections and lease retention.
- 1983 vintage: newer than nearby stock, with value‑add upside through targeted renovations and system upgrades.
- Employment access: proximity to energy and industrial employers underpins workforce housing demand.
- Risks: safety indicators below national medians and sub-metro occupancy rank warrant active management, security investment, and disciplined leasing.