| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 67th | Good |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10110 Charterwood Dr, Houston, TX, 77070, US |
| Region / Metro | Houston |
| Year of Construction | 1999 |
| Units | 72 |
| Transaction Date | 2021-11-02 |
| Transaction Price | $23,000,000 |
| Buyer | TX VINTAGE LLC |
| Seller | TIVOLI AT VINTAGE PARK LLC |
10110 Charterwood Dr Houston Multifamily Opportunity
Positioned in an inner-suburban pocket of Houston with above-median neighborhood occupancy, this 72-unit asset benefits from steady renter demand, according to WDSuite’s CRE market data.
The property sits in a high-performing inner-suburban neighborhood rated A+ and ranked 35 out of 1,491 Houston metro neighborhoods, placing it in the top quartile among metro peers. Amenity access is a clear strength: neighborhood cafe and restaurant density rank near the top of national comparisons (98th and 94th percentiles), with groceries, parks, pharmacies, and childcare also testing well above national averages. For investors, this amenity depth typically supports leasing velocity and resident retention.
Neighborhood occupancy is competitive versus national benchmarks, and rents in the area trend in the upper tier nationally, reinforcing the presence of a stable paying tenant base. The renter-occupied share of housing units in the neighborhood is 51.2%, indicating a deep pool of households that rely on multifamily options, which can support demand durability through cycles.
Within a 3-mile radius, demographics point to a larger tenant base today and further renter pool expansion ahead. The area has experienced population and household growth over the past five years, with forecasts indicating continued population gains and a meaningful increase in households, which can translate to more renters entering the market and support occupancy stability. Median household incomes in the 3-mile area are solid and have grown in recent years, while neighborhood rent-to-income levels (0.19) imply manageable affordability pressure that can aid lease retention and reduce turnover risk.
Construction stock in the immediate neighborhood skews slightly newer than Houston’s historical averages; with a 1999 vintage, this asset should remain relatively competitive versus older local product, though investors should still plan for selective modernization and systems updates to sustain positioning against newer deliveries. Home values in the neighborhood sit in the mid range nationally; in practice, this can sustain rental demand while also creating some competition from ownership options—an important consideration for pricing power and renewal strategy.
Relative to both metro and national comparisons, the neighborhood’s safety profile trends below average. Based on Houston metro ranks (842 out of 1,491 neighborhoods), crime conditions are weaker than the metro median, and national percentiles indicate the area sits in a lower safety tier. Investors should underwrite with prudent security measures and engage data-driven property management to support resident comfort and retention.
Recent indicators suggest property offenses are elevated and violent-offense rates track below national safety percentiles. While conditions can vary by block and over time, a thoughtful approach—lighting, access controls, and community engagement—can help mitigate risk and protect operating performance.
Proximity to regional corporate nodes underpins workforce housing demand and commute convenience for residents. Nearby employers include technology, energy, and industrial firms that broaden the local renter base and support retention.
- Hewlett Packard Enterprise Customer Engagement Center — technology (0.94 miles)
- Centerpoint Energy — energy utility offices (4.34 miles)
- Enterprise Products — midstream energy (6.45 miles)
- Emerson Process Management — industrial technology (9.19 miles)
- Anadarko Petroleum — energy (13.36 miles) — HQ
This 1999-vintage, 72-unit property is positioned in a top-quartile Houston neighborhood with strong amenity access and an established renter base. Neighborhood occupancy levels are above the national midpoint, and the renter-occupied share of housing units (51.2%) indicates durable multifamily demand. Within a 3-mile radius, recent population and household growth, along with forecasts for additional expansion, point to a larger prospective tenant base that can support leasing stability. According to commercial real estate analysis from WDSuite, neighborhood rents trend in the upper tier nationally while rent-to-income levels suggest manageable affordability pressure—favorable for renewal outcomes.
The 1999 vintage should compete well against older submarket stock, though investors should plan for targeted modernization and ongoing capital planning to maintain curb appeal and operating efficiency. Safety indicators trend below metro and national averages, which warrants proactive management and security investment. Home values are mid-range nationally, which can sustain rental reliance yet also create some competition from ownership—pricing and renewal strategies should reflect this.
- Top-quartile Houston neighborhood with amenity depth supporting leasing and retention
- Established renter base (51.2% renter-occupied units) and neighborhood occupancy above the national midpoint
- 1999 vintage offers competitive positioning versus older stock; value-add via selective modernization
- Risk: below-average safety metrics require proactive security and management oversight
- Ownership alternatives present some competition; pricing and renewals should be managed accordingly