| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 39th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4015 Highway 90, Crosby, TX, 77532, US |
| Region / Metro | Crosby |
| Year of Construction | 1980 |
| Units | 64 |
| Transaction Date | 2005-04-05 |
| Transaction Price | $473,000 |
| Buyer | PARKER CHARLES |
| Seller | COUNTRY OAKS APARTMENTS LTD |
4015 Highway 90 Crosby Multifamily Investment
Household growth within a 3-mile radius and an attainable rent profile suggest a stable renter base, according to WDSuite’s CRE market data, even as neighborhood occupancy runs below metro medians.
Crosby sits on Houston’s northeast edge with a Rural profile and a B neighborhood rating, competitive among Houston-The Woodlands-Sugar Land neighborhoods (rank 596 of 1,491). Amenity access is serviceable for a workforce renter: parks and pharmacies track above national midpoints, while everyday retail and groceries are broadly available.
Within a 3-mile radius, population expanded over the last five years and is projected to continue rising, with households increasing further—supporting a larger tenant base and lease-up resilience. Median contract rents in the surrounding area remain moderate, which can aid retention and reduce turnover risk for value-oriented units.
Neighborhood occupancy has trended below metro medians in recent years, so underwriting should emphasize leasing strategy and concessions discipline. The share of housing units that are renter-occupied is lower than owner-occupied within the 3-mile radius today, with a modest increase expected, indicating a shallower but growing renter pool; this favors operators positioned for durable, workforce demand.
Home values in the neighborhood are elevated relative to local incomes (higher national percentile for value-to-income), which can sustain multifamily reliance and support pricing power at attainable rent levels. Average school ratings track below national midpoints; operators may prioritize community features and convenience to offset school-related retention risk for family renters.
Safety indicators sit below national midpoints for this neighborhood. Relative to 1,491 Houston metro neighborhoods, crime ranks in the lower half, and national percentiles indicate safety is below average. Recent estimates also show year-over-year increases in both property and violent offenses. For investors, this calls for practical measures—lighting, access control, and close coordination with local resources—when planning operations and marketing.
Nearby employers span energy and logistics, supporting commuter convenience and a steady workforce renter base, notably Air Products, FedEx Office, Halliburton, and Calpine operations.
- Air Products — industrial gases (10.6 miles)
- FedEx Office Print & Ship Center — logistics/printing services (12.4 miles)
- Halliburton — energy services (17.5 miles) — HQ
- Calpine Turbine Maintenance Group — power generation services (21.0 miles)
- Calpine — power generation (21.4 miles) — HQ
This 64-unit asset offers an attainable entry point in a growing east-Houston corridor. The 3-mile radius shows recent population gains with a stronger projected increase in households, supporting a larger renter base and occupancy stability. Neighborhood ownership costs sit high relative to incomes, which reinforces reliance on rentals at moderate price points and can help sustain leasing velocity.
Neighborhood occupancy trends sit below metro medians, so performance depends on hands-on operations and targeted tenanting; however, median rents nearby remain accessible, and the property’s smaller average unit sizes position it to capture singles and budget-sensitive renters. According to CRE market data from WDSuite, these dynamics align with steady workforce demand, provided operators manage renewals and pricing with an eye on affordability and safety.
- Growing 3-mile household base supports a deeper tenant pool and leasing durability
- Elevated ownership costs locally reinforce renter reliance and pricing power at attainable rents
- Smaller average unit sizes align with demand from singles and cost-conscious renters
- Operational focus needed given below-metro neighborhood occupancy trends
- Risk: safety metrics trail national midpoints; plan for security, lighting, and resident engagement