| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 43rd | Fair |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6616 Fm 2100 Rd, Crosby, TX, 77532, US |
| Region / Metro | Crosby |
| Year of Construction | 1980 |
| Units | 86 |
| Transaction Date | 2018-06-01 |
| Transaction Price | $12,218,800 |
| Buyer | CROSBY PLAZA 34 LLC |
| Seller | CROSBY PLAZA INTERIM LLC |
6616 FM 2100 Rd Crosby Multifamily Value-Add Potential
Suburban fundamentals point to steady renter demand and occupancy stability at the neighborhood level, according to WDSuite’s CRE market data, with pricing power more likely to come from value-add execution than from outsized rent growth.
Located in Crosby within the Houston–The Woodlands–Sugar Land metro, the neighborhood rates B- and sits around the metro middle (ranked 875 of 1,491 neighborhoods). Amenity access is broadly near the national median, with parks and cafes showing relative strength (both above the national midpoint), which supports day-to-day livability for residents and workforce renters.
Multifamily occupancy in the neighborhood is in the low-90s, signaling generally stable lease-up and retention dynamics at the sub-neighborhood scale, based on CRE market data from WDSuite. Within a 3-mile radius, households and population have both expanded over the last five years and are projected to continue growing through the next cycle, which should enlarge the local tenant base and support ongoing absorption.
Tenure patterns indicate a modest renter concentration within 3 miles (roughly one-fifth of housing units are renter-occupied), implying demand is present but thinner than in core urban districts. For investors, this typically favors durable, needs-based housing and competitive price points over luxury positioning.
Ownership costs in the area are moderate in a national context, which can introduce some competition from entry-level ownership. However, a low rent-to-income burden locally helps sustain lease retention and provides room for measured rent moves where renovations improve unit quality and resident experience.
Safety indicators are competitive among Houston neighborhoods (ranked 413 of 1,491) and sit around the national middle (roughly the 51st percentile), according to WDSuite. Recent WDSuite data also show year-over-year declines in both property and violent incident rates, an improving trend investors often associate with steadier renter demand and fewer disruption risks.
As with all block-to-block variations, on-the-ground diligence remains important. The directional improvements are constructive, but investors should underwrite with standard precautions such as adequate lighting, access control, and resident engagement to maintain stability.
Proximity to regional corporate offices in logistics and energy underpins a broad employment base and commute convenience that supports renter retention. Nearby anchors include FedEx Office, Air Products, Halliburton, Calpine, and Waste Management.
- FedEx Office Print & Ship Center — logistics/office services (11.1 miles)
- Air Products — industrial gases (11.6 miles)
- Halliburton — energy services (16.3 miles) — HQ
- Calpine — power generation (20.9 miles) — HQ
- Waste Management — environmental services (21.0 miles) — HQ
For a 1980-vintage, 86-unit asset, the thesis centers on pragmatic value-add and durable suburban demand. Neighborhood multifamily occupancy is in the low-90s, and within 3 miles both population and households have grown and are projected to expand further—factors that typically support a larger tenant base and occupancy stability. According to CRE market data from WDSuite, local livability is around the national median with pockets of amenity strength, suggesting renovations that elevate finishes and in-unit functionality can capture incremental rent without outpacing the area’s needs-based positioning.
Renter concentration is modest locally (about one-fifth of units renter-occupied within 3 miles), so underwriting should emphasize competitive pricing, operational execution, and resident experience. Ownership remains relatively accessible, which can cap top-end rent growth, but low rent-to-income burdens and ongoing household formation point to steady leasing and renewal prospects for well-managed, upgraded stock.
- Stable neighborhood occupancy with expanding 3-mile population and households supporting demand
- 1980 vintage offers clear value-add path via interior upgrades and systems modernization
- Amenity access around national median; targeted improvements can differentiate versus nearby legacy stock
- Employment depth across logistics and energy corridors supports retention and leasing velocity
- Risk: modest renter concentration and accessible ownership may temper premium rent pushes