| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 17th | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1114 Freeport St, Houston, TX, 77015, US |
| Region / Metro | Houston |
| Year of Construction | 1978 |
| Units | 76 |
| Transaction Date | 2009-09-23 |
| Transaction Price | $593,800 |
| Buyer | TRIPLES INVESTMENTS LLC |
| Seller | ESTADA VILLA LLC |
1114 Freeport St Houston Multifamily Value-Add Opportunity
Renter demand in this inner-suburban pocket appears durable, while neighborhood occupancy trends point to hands-on operations and selective upgrades as the path to outperformance; according to WDSuite’s CRE market data, costs remain comparatively accessible versus the broader metro.
This Inner Suburb location offers everyday convenience rather than destination amenities. Neighborhood grocery access is a clear strength (95th percentile nationally) alongside solid restaurant density (87th percentile), while parks, cafes, childcare, and pharmacies are limited within the immediate area. School options trend below the national median, so operators should position toward workforce housing and value-driven offerings rather than school-driven leasing.
For investors, the neighborhood’s renter concentration is a key demand signal: 48.8% of housing units are renter-occupied, placing the area in the top quartile nationally for renter share and indicating a deep tenant base for multifamily. Neighborhood occupancy is 88.3% with a modest five-year softening, suggesting leasing attention and renewals management can lift performance toward metro norms.
Relative pricing supports retention. Median contract rent in the neighborhood is lower than many Houston submarkets, and the rent-to-income ratio of 0.18 indicates comparatively lower affordability pressure, which can aid lease stability. Home values are also lower versus national peers (13th percentile), meaning some households have more accessible ownership options; operators should emphasize convenience and predictable costs to mitigate competition from entry-level ownership.
Demographic indicators within a 3-mile radius point to a steady renter pipeline: population and households expanded over the past five years, and forecasts show continued, if modest, population growth with a meaningful increase in households. This combination typically supports a larger tenant base and steadier absorption, according to CRE market data from WDSuite.
Safety conditions are mixed in relative terms. Within the Houston metro, the neighborhood’s overall crime positioning is competitive among 1,491 neighborhoods, indicating a mid-pack standing locally. Nationally, however, safety percentiles sit below the median, with violent incidents positioned in a lower percentile compared with neighborhoods nationwide.
Recent trend data offers a constructive note: both violent and property offense rates have declined year over year, placing the neighborhood’s improvement trajectory above many peers. Investors should incorporate standard security measures and lighting/CPTED improvements into capital plans while monitoring continued trend moderation.
Proximity to Houston’s energy and utilities corridor supports workforce housing demand and commuting convenience, anchored by nearby corporate offices and several headquarters including Calpine, Waste Management, Kinder Morgan, CenterPoint Energy, and Targa Resources.
- Air Products — industrial gases (9.4 miles)
- Calpine — power generation (11.2 miles) — HQ
- Waste Management — environmental services (11.2 miles) — HQ
- Kinder Morgan — midstream energy (11.4 miles) — HQ
- NRG Energy — power & retail energy (11.4 miles)
Built in 1978, this 76-unit asset skews slightly older than the neighborhood average, creating clear value-add angles through unit modernization, systems upgrades, and curb appeal that can differentiate versus legacy stock. The surrounding neighborhood exhibits a high share of renter-occupied housing and everyday retail access, which underpin demand even as occupancy has trended softer. According to CRE market data from WDSuite, relative affordability and a manageable rent-to-income profile support renewal rates and reduce pricing friction versus higher-cost submarkets.
Looking forward, incremental population growth and an expanding household base within a 3-mile radius point to a larger tenant pool, while proximity to a concentration of energy and utilities employers adds commuting convenience. Execution focus should center on targeted renovations, leasing discipline, and security/light-capex that support retention and stabilize occupancy toward metro norms.
- Renter concentration and workforce location support a deep tenant base
- 1978 vintage enables value-add through interior and systems upgrades
- Relative affordability and grocery/restaurant access aid retention
- Energy and utilities employers within ~12 miles enhance leasing stability
- Risks: below-national-median safety and softer occupancy require active management