| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 74th | Best |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1127 Herkimer St, Houston, TX, 77008, US |
| Region / Metro | Houston |
| Year of Construction | 1994 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1127 Herkimer St, Houston 25-Unit Multifamily
In Houston’s inner suburb, this 25-unit asset targets steady renter demand supported by high-income households and a deep employment base, according to WDSuite’s CRE market data. Neighborhood occupancy has generally trended upward, suggesting resilient leasing conditions relative to the broader metro.
The property sits within an Inner Suburb neighborhood rated A- (ranked 322 among 1,491 metro neighborhoods), competitive within Houston for investor fundamentals. Dining density is a strength: the area is top decile nationally for restaurants and near the top nationally for cafes, supporting lifestyle appeal for tenants and potential leasing velocity.
WDSuite’s commercial real estate analysis indicates elevated ownership costs in the neighborhood (home values sit in high national percentiles), which tends to sustain reliance on multifamily housing and can reinforce pricing power and retention. Neighborhood median contract rents also rank high nationally, reflecting strong renter purchasing power.
The average neighborhood construction year skews older (1960s), while this property’s 1994 vintage is newer than much of the local stock. That positioning can enhance competitive appeal versus older assets, though investors should plan for systems updates typical of a late-1990s building to support rent growth and reduce downtime.
Within a 3-mile radius, population and households have expanded over the past five years and are projected to continue growing, pointing to a larger tenant base over time. The renter-occupied share in the immediate neighborhood is relatively modest, while the 3-mile area shows a deeper renter pool — together implying demand is supported both by nearby ownership-driven neighborhoods and surrounding rental-focused districts.
Mapped grocery, park, and pharmacy counts are limited within the small neighborhood boundary; residents typically access these services in adjacent districts. Average school ratings trend below the national median, an item to watch for family-oriented leasing strategies, though proximity to employment and amenities can offset for target renter profiles such as singles and young professionals.
Neighborhood safety indicators are mixed relative to wider benchmarks. Overall, the area sits below the national median for safety, and compared with the Houston metro it trends below the metro median among 1,491 neighborhoods. Property-related incidents are elevated versus national norms, while violent incident measures are closer to the middle of national distributions.
For investors, this suggests underwriting should incorporate pragmatic security measures and tenant communication, particularly for common areas and parking. Monitoring recent trend direction is advisable, as year-over-year changes can influence insurance, operating costs, and leasing velocity.
Nearby energy and utilities employers underpin a substantial professional workforce and commute convenience for residents. The following headquarters and corporate offices within roughly 2–3.5 miles help support renter demand and lease retention.
- Baker Hughes — energy technology (2.2 miles) — HQ
- ExxonMobil - Brookhollow Campus — energy (3.1 miles)
- EOG Resources — energy (3.1 miles) — HQ
- Plains GP Holdings — midstream energy (3.2 miles) — HQ
- NRG Energy — power generation & retail energy (3.2 miles)
This 25-unit asset with smaller average floorplans caters to singles and young professionals drawn to strong dining access and major nearby employers. Based on CRE market data from WDSuite, neighborhood occupancy is around metro norms but has improved over the past five years, while elevated ownership costs in the area help sustain rental reliance and support pricing durability. The 1994 vintage is newer than much of the surrounding stock, suggesting competitive positioning with targeted capital planning for systems modernization.
Within a 3-mile radius, population and household growth, coupled with high incomes, indicate a deeper tenant base over time. Neighborhood rent levels sit well above national benchmarks, and forward-looking projections point to continued rent growth across the area, supporting an income-focused thesis with value-add potential via unit updates and operational efficiencies.
- Newer-than-local-stock 1994 vintage; plan targeted systems updates for competitiveness
- High-cost ownership market supports renter reliance and pricing power
- Growing 3-mile population and households expand the tenant base and support occupancy stability
- Proximity to major energy and utilities employers supports leasing velocity and retention
- Risks: safety metrics below national median and limited mapped neighborhood services warrant prudent Opex and asset management