| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 21st | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10202 Challenger 7 Dr, Houston, TX, 77029, US |
| Region / Metro | Houston |
| Year of Construction | 1972 |
| Units | 122 |
| Transaction Date | 2018-07-13 |
| Transaction Price | $9,230,000 |
| Buyer | Brite Real Estate Investors LLC |
| Seller | GEM Jacinto Palms LLC |
10202 Challenger 7 Dr Houston Multifamily Opportunity
Positioned in Houston’s inner-east submarket, this 122-unit asset benefits from a renter-occupied share near half of neighborhood housing and reported neighborhood occupancy of 89.5%, according to WDSuite’s CRE market data. Steady everyday amenities and commuter proximity support durable workforce demand while allowing disciplined expense and rent management.
This inner suburb location offers everyday convenience that underpins leasing: the neighborhood ranks strongly for essentials with high densities of grocery stores and pharmacies (both well above national norms), plus solid restaurant and cafe coverage. Parks are accessible relative to comparable Houston areas, adding a modest quality-of-life lift for residents.
Investor signals point to a deep renter base: the share of housing units that are renter-occupied is elevated for the metro, indicating a broad tenant pool and potential retention tailwinds for well-managed product. Neighborhood occupancy is reported at 89.5% with a slight five-year softening, suggesting operators should prioritize renewals and targeted upgrades to protect lease rolls.
Within a 3-mile radius, demographics show a nuanced demand picture. While population has edged down in recent years and is projected to contract further, household counts are expected to rise alongside smaller average household sizes, which can expand the renter pool and support occupancy stability for practical unit mixes. Median household incomes have improved over time, and rent levels have trended upward, aligning with ongoing multifamily property research that points to steady workforce housing demand.
Ownership costs in the immediate area remain comparatively accessible by national standards, which can create some competition with entry-level ownership. For multifamily operators, this context argues for careful pricing discipline and amenity-light, value-forward positioning to sustain leasing velocity and manage renewal risk.
Safety metrics for the neighborhood are below the national median (around the 35th percentile nationwide), indicating investors should underwrite prudent security measures and operational oversight. At the same time, both violent and property offense estimates have improved year over year, with declines reported in the latest period, signaling gradual momentum in the right direction.
Compared with other areas of the Houston-The Woodlands-Sugar Land metro (1,491 neighborhoods total), the neighborhood sits mid-pack on crime exposure rather than top-tier. For investors, practical mitigants such as lighting, access controls, and resident engagement can help support tenant retention and stabilize operating performance.
Proximity to Houston’s energy and utilities corridor supports workforce housing demand and commute convenience. Nearby anchors include Calpine, Waste Management, Kinder Morgan, NRG Energy, and CenterPoint Energy, which collectively sustain a large regional employment base relevant to renters at this asset.
- Calpine — energy generation (6.9 miles) — HQ
- Waste Management — environmental services (6.9 miles) — HQ
- Kinder Morgan — midstream energy (7.1 miles) — HQ
- NRG Energy — power & retail energy (7.1 miles)
- Centerpoint Energy — utilities (7.1 miles) — HQ
10202 Challenger 7 Dr offers scale in a service-rich Houston neighborhood where renter concentration is elevated and everyday amenities are strong. Neighborhood occupancy is reported at 89.5%; while it has softened slightly over five years, the area’s household growth and shrinking household sizes within a 3-mile radius point to a larger tenant base over time. According to CRE market data from WDSuite, the local amenity mix (groceries, pharmacies, cafes, parks) ranks well versus national norms, supporting leasing durability for workforce-oriented product.
Positioning should balance value and operational discipline. Rents have advanced and are projected to keep rising, yet homeownership remains relatively accessible locally, which can cap pricing power. Safety indicators sit below national averages but are improving, arguing for pragmatic security investments alongside focused renewal strategies.
- Scale and location benefit from elevated renter-occupied share, supporting a broad tenant base
- Strong everyday amenities (groceries, pharmacies, cafes, parks) bolster leasing durability
- Household growth and smaller household sizes within 3 miles support occupancy stability
- Underwrite pricing with discipline given relatively accessible ownership alternatives
- Risk: below-median safety and modest occupancy softening require proactive operations