| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 37th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10160 Westpark Dr, Houston, TX, 77042, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 52 |
| Transaction Date | 2004-10-05 |
| Transaction Price | $1,530,000 |
| Buyer | BACM 2002-PB2 WESTPARK DRIVE LP |
| Seller | PARKWEST PLACE LTD |
10160 Westpark Dr Houston Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and everyday retail access, while occupancy trends sit near the national midpoint according to WDSuite’s CRE market data. This positioning can offer stable leasing with careful pricing and resident retention strategies.
The surrounding neighborhood (Urban Core; B- rating) shows renter-occupied housing accounting for a meaningful share of units, indicating a sizable tenant base for multifamily owners. Neighborhood occupancy is around the national midpoint, suggesting stable leasing conditions rather than outsized volatility, based on CRE market data from WDSuite. Median contract rents in the neighborhood track close to national midrange levels, which can aid absorption for well-managed assets.
Local amenity access is mixed. Restaurants are dense by national standards, and grocery options are strong for daily needs; however, the neighborhood itself reports limited cafes, parks, and pharmacies. For investors, that combination supports day-to-day convenience but may lessen lifestyle-driven premiums without targeted property-level upgrades.
Within a 3-mile radius, demographic statistics indicate a large population with a broad mix of ages and income bands. Recent years show modest population softening but an increase in households, which can reflect smaller household sizes and sustained renter participation; forward-looking estimates point to household growth, which would expand the tenant pool and support occupancy. A high renter share within this radius underscores depth of demand for apartments and can help stabilize renewal activity.
Ownership costs in the neighborhood are relatively elevated versus local incomes (higher value-to-income ratio nationally), which tends to sustain reliance on rentals rather than accelerate moves to ownership. For operators, this can translate to steadier retention and measured pricing power, provided rent-to-income levels are monitored to mitigate affordability pressure risk.
Safety indicators for the neighborhood trend below both metro and national norms. Among 1,491 metro neighborhoods, the area ranks in the lower tier for crime, and national percentiles place it well below the safer end of the spectrum. This suggests investors should incorporate enhanced security, lighting, and resident engagement into operations and underwriting.
Recent year-over-year signals point to increases in both property and violent offense rates at the neighborhood level. While conditions can vary block to block, comparative metrics indicate this submarket is not among the top quartile nationally for safety; as such, prudent risk management and loss-prevention measures are advisable.
Nearby employment is anchored by energy and corporate services, supporting workforce housing demand and commute convenience for renters. The following employers within a short drive can reinforce leasing stability and renewal potential.
- Phillips 66 — energy HQ (1.6 miles) — HQ
- Abm SSC — facilities services (2.1 miles)
- National Oilwell Varco — oilfield services (2.2 miles) — HQ
- National Oilwell Varco Employees CU — financial services (2.2 miles)
- Group 1 Automotive — automotive retail (3.8 miles) — HQ
10160 Westpark Dr was built in 1984, slightly newer than the neighborhood average, which can offer competitive positioning versus older stock while still allowing value-add through targeted interior and system upgrades. Neighborhood occupancy trends are near the national midpoint, and a high concentration of renter-occupied units locally and within a 3-mile radius indicates depth in the tenant base to support leasing and renewals.
Proximity to major employers in energy and corporate services supports day-to-day demand, while neighborhood home values relative to incomes point to a high-cost ownership market that can sustain reliance on rentals. According to CRE market data from WDSuite, rents align near national midrange levels, suggesting room for disciplined revenue management in conjunction with resident retention and affordability oversight.
- 1984 vintage offers competitive positioning with value-add and modernization potential.
- Renter-occupied housing share locally and within 3 miles supports a large tenant base and occupancy stability.
- Nearby energy and corporate employers underpin leasing demand and renewal prospects.
- Pricing sits near national midrange, enabling disciplined revenue management with retention focus.
- Risks: below-average safety metrics and affordability pressure warrant enhanced security and careful lease management.