| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 66th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17201 Blackhawk Blvd, Friendswood, TX, 77546, US |
| Region / Metro | Friendswood |
| Year of Construction | 1983 |
| Units | 122 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17201 Blackhawk Blvd Friendswood Multifamily Investment
Neighborhood fundamentals point to steady renter demand with low-90s occupancy and a majority of units renter-occupied, according to WDSuite’s CRE market data. Investors should view this as a stabilized submarket profile with room to optimize operations rather than a lease-up story.
Friendswood sits in an Inner Suburb pocket of the Houston metro with an A- neighborhood rating, making it competitive among 1,491 metro neighborhoods for overall performance. Amenity access is strong for daily needs, with cafes and childcare density in the top quartile nationally and restaurants well above the national median. Average school ratings are slightly above national midpoints, supporting family-oriented demand drivers.
Renter dynamics are supportive for multifamily. At the neighborhood scale, about half of housing units are renter-occupied, indicating a deep tenant base and consistent leasing activity. Neighborhood occupancy trends sit near the metro middle, suggesting stable performance with standard turnover cycles rather than outsized vacancy risk. Median contract rents have risen over the past five years, signaling pricing power that has not materially disrupted demand.
Livability drivers compare favorably to broader benchmarks: the amenity rank is top quartile among 1,491 Houston neighborhoods, and childcare and cafe density push toward the top decile nationally. While park and pharmacy access are thinner within the immediate neighborhood, daily conveniences and food options remain diverse, helping support retention and leasing competitiveness.
The property’s 1983 vintage is older than the neighborhood’s average construction year. For investors, that typically means planning for building systems and common-area refreshes, with value-add potential through targeted renovations to sharpen competitive positioning versus younger stock.
Within a 3-mile radius, demographics show population growth, rising incomes, and an expanding household base, with households projected to increase further by 2028. These trends point to a larger tenant base and support occupancy stability, though comparatively accessible ownership options in the area suggest some competition with entry-level homeownership.
Safety indicators are mixed but improving. The neighborhood ranks competitive among 1,491 Houston metro neighborhoods, with property-related incidents comparing closer to the safer side of national norms while violent incidents sit nearer the national middle. Recent year-over-year declines in both violent and property offense estimates point to gradual improvement rather than deterioration.
As in many Inner Suburb locations, outcomes vary by micro-area and time of day. Underwriting should include routine security features and lighting standards, using WDSuite’s comparative trend data as context rather than relying on block-level assumptions.
Nearby corporate offices in aerospace, energy, and services broaden the employment base and support commute-friendly renter demand that can aid leasing stability and retention. Highlighted below are proximate employers most relevant to this submarket’s workforce housing thesis.
- Boeing: Bay Area Building — aerospace offices (6.2 miles)
- Calpine Turbine Maintenance Group — energy services (8.1 miles)
- Dish Network — telecommunications (8.9 miles)
- Air Products — industrial gases (18.3 miles)
- Waste Management — environmental services (19.8 miles) — HQ
Positioned in a competitive Inner Suburb node, the property benefits from a renter-occupied majority at the neighborhood level, solid amenity access, and occupancy trends near the metro middle. According to CRE market data from WDSuite, rents have advanced over the last five years without materially eroding demand, and a diversified nearby employment base supports day-to-day leasing.
The 1983 vintage suggests clear value-add angles: modernize interiors, address aging systems, and upgrade common areas to strengthen pricing power versus younger stock. Within a 3-mile radius, population growth, rising household counts, and higher incomes point to a larger tenant base and support for rent levels, while a relatively accessible ownership market argues for disciplined lease management to maintain retention.
- Stabilized neighborhood with renter depth and occupancy near metro norms supports consistent cash flow potential.
- Value-add potential from 1983 construction via targeted renovations and systems upgrades to enhance competitiveness.
- 3-mile demographics indicate population and household growth with higher incomes, reinforcing a larger tenant base.
- Risks: older physical plant, thinner park/pharmacy access locally, and some competition from homeownership options requiring disciplined pricing and retention strategies.