| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 35th | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 W Pasadena Blvd, Deer Park, TX, 77536, US |
| Region / Metro | Deer Park |
| Year of Construction | 1975 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 W Pasadena Blvd Deer Park Multifamily Investment
Steady neighborhood occupancy and a sizable renter-occupied base point to durable demand in this inner-suburban location, according to WDSuite’s CRE market data.
Deer Park’s inner-suburban setting supports practical livability for workforce renters. Restaurant and grocery density test well versus national benchmarks, while parks, pharmacies, cafes, and childcare options are thinner locally. Average school ratings sit near the national midpoint, offering a serviceable but not distinguishing amenity profile for families.
Neighborhood occupancy around 90% is slightly below the national midline yet has been broadly stable over five years, based on CRE market data from WDSuite. Median contract rents track in the mid-range nationally, which, coupled with a modest rent-to-income ratio, suggests manageable affordability pressure that can aid retention while moderating near‑term pricing power.
Renter-occupied share is elevated for the neighborhood (40% of housing units), indicating a deeper tenant base than many peers and supporting leasing durability. Home values are comparatively lower versus national norms, which can create some competition from entry-level ownership; operators may need to differentiate on convenience, finishes, or services to sustain absorption and renewals.
Within a 3‑mile radius, recent population trends were flat to slightly negative, but household counts edged up and are projected to rise further alongside higher median incomes. That combination points to smaller average household sizes and a steady to expanding renter pool over the next cycle, reinforcing occupancy stability for well-positioned assets.
Relative to the Houston metro, the neighborhood’s overall crime positioning is competitive, landing in the top quartile among 1,491 metro neighborhoods. Compared with neighborhoods nationwide, conditions align modestly on the safer side overall.
Property-related incidents compare favorably versus national peers, while recent violent‑offense trends have shown volatility. Investors should underwrite to current patterns and monitor local policing and community initiatives rather than relying on block‑level assumptions.
Proximity to industrial and energy employers underpins a stable workforce renter base and commute convenience. Notable nearby organizations include Calpine Turbine Maintenance Group, Boeing, Air Products, Waste Management, and Kinder Morgan.
- Calpine Turbine Maintenance Group — energy services (6.2 miles)
- Boeing: Bay Area Building — aerospace offices (6.2 miles)
- Air Products — industrial gases (8.4 miles)
- Waste Management — environmental services (15.1 miles) — HQ
- Kinder Morgan — midstream energy (15.4 miles) — HQ
Built in 1975, the asset is slightly older than the local average, creating potential for value‑add through targeted renovations and system upgrades. Neighborhood occupancy sits near 90% with a renter-occupied share that is elevated versus many peers, supporting a stable tenant base. According to commercial real estate analysis from WDSuite, median rents are mid‑market and rent-to-income levels indicate manageable affordability pressure—favorable for retention even if they temper near‑term rent growth.
The 3‑mile trade area shows rising household incomes and projected growth in household counts, pointing to a larger future renter pool. Nearby energy, industrial, and services employers contribute to day‑to‑day leasing depth. Ownership costs in the area are relatively accessible, so positioning and amenity upgrades can be important to sustain pricing power against entry‑level ownership alternatives.
- Stable neighborhood occupancy with elevated renter-occupied share supports leasing durability
- 1975 vintage offers clear value‑add and modernization pathways
- Mid‑market rents and favorable rent‑to‑income ratios aid retention and cashflow consistency
- Employer proximity (energy, industrial, services) underpins workforce demand
- Risks: competition from accessible ownership options and uneven amenity depth; prudent rent assumptions recommended