| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 38th | Fair |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11240 Perry Rd, Houston, TX, 77064, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11240 Perry Rd Houston Multifamily Value-Add Opportunity
Neighborhood occupancy is above the metro median and renter demand is supported by a broad workforce base, according to WDSuite’s CRE market data. This inner-suburb location offers steady leasing fundamentals with room for operational upside informed by disciplined commercial real estate analysis.
The property sits in an Inner Suburb of Houston with leasing fundamentals that are above the metro median for occupancy, based on WDSuite’s CRE market data for the neighborhood (93% neighborhood occupancy). That positioning points to stable day‑to‑day operations and a reasonable backdrop for retention, even as individual asset performance will depend on unit mix, finish level, and management.
Local amenity access is mixed. Grocery access is competitive nationally (top quartile), while cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood. For investors, that typically shifts the value proposition toward on‑site amenities and convenience to job centers rather than lifestyle retail within walking distance.
Construction patterns skew newer in the surrounding neighborhoods than this asset’s 1984 vintage (area average year built is 2000). Older physical plant often implies scheduled capital planning and creates a clear value‑add path via renovations, common‑area upgrades, and efficiency improvements to better compete against newer stock.
Within a 3‑mile radius, WDSuite reports population growth over the last five years with additional growth forecast, alongside a projected increase in households and a slight reduction in average household size. For multifamily, that combination expands the tenant base and supports occupancy stability. The 3‑mile area also shows a meaningful share of renter‑occupied housing, signaling depth in the local renter pool and sustained demand for rental units.
Ownership costs in nearby neighborhoods are moderate by national context. That can introduce some competition from entry‑level ownership, but rent levels relative to incomes indicate manageable affordability pressure for renters, which supports lease retention and pragmatic pricing power.
Safety indicators for the neighborhood are around the national middle, per WDSuite’s data, with crime levels comparable to many Houston submarkets. Importantly for risk management, both property and violent offense rates have declined over the past year, indicating improving trends rather than deterioration.
Relative to other areas in the Houston metro (1,491 neighborhoods), this neighborhood is not among the highest‑ranked for safety, but recent year‑over‑year declines suggest momentum is moving in a favorable direction. Investors should underwrite standard security measures and focus on operational practices that sustain resident confidence and retention.
Proximity to major corporate offices supports a broad workforce renter base and commute convenience, including CenterPoint Energy, Enterprise Products, Hewlett Packard Enterprise’s customer center, Emerson, and several Fortune 500 hubs farther south and west.
- Centerpoint Energy — utilities (1.7 miles)
- Enterprise Products — midstream energy (1.8 miles)
- Hewlett Packard Enterprise Customer Engagement Center — technology services (4.1 miles)
- Emerson Process Management — industrial automation (4.5 miles)
- Conocophillips — energy (10.4 miles) — HQ
Built in 1984, this 48‑unit property offers a clear value‑add and capital‑planning angle relative to nearby neighborhoods where the average construction year trends newer. According to CRE market data from WDSuite, neighborhood occupancy is above the metro median, and the 3‑mile area shows recent population growth with more households projected — factors that typically expand the renter pool and support leasing stability.
Amenity access is strongest for groceries while lifestyle retail is thinner, suggesting competitive positioning will rely on on‑site features, efficient operations, and connectivity to nearby job centers. Rent levels versus incomes indicate moderate affordability pressure, a positive for retention and revenue durability, while moderate ownership costs nearby may introduce some competition for price‑sensitive renters.
- Above‑median neighborhood occupancy supports day‑to‑day leasing stability
- 1984 vintage provides value‑add potential through unit and systems upgrades
- 3‑mile population and household growth signals a larger renter base over time
- Access to major employers supports demand and lease retention
- Risks: older physical plant and limited nearby lifestyle amenities may require higher on‑site amenity investment and active management