| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 86th | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11395 Richmond Ave, Houston, TX, 77082, US |
| Region / Metro | Houston |
| Year of Construction | 1999 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11395 Richmond Ave, Houston Multifamily Investment
Neighborhood renter demand is deep and occupancy has been resilient, according to WDSuite’s CRE market data, positioning this 60-unit asset for steady leasing in Houston’s inner suburban corridor.
This inner suburb location benefits from strong day-to-day convenience: grocery density ranks competitively within the metro (81st of 1,491) and restaurants are plentiful, supporting resident livability and leasing appeal. Cafés are present, though park and childcare access are limited, which may guide amenity programming and resident services.
The neighborhood’s renter-occupied share is high at 71.3%, indicating a deep tenant base and demand stability for multifamily. Neighborhood occupancy is 94.5% (above the national middle tier), reinforcing the case for consistent lease-up and retention. The median rent level sits in the upper tier locally, and the neighborhood rent-to-income ratio is moderate, which can support renewal rates with prudent lease management.
Homeownership remains a high-cost proposition here, with home values in the top few percent nationally and a value-to-income ratio near the top of U.S. neighborhoods. For investors, this context generally sustains reliance on rental housing and can underpin pricing power, while still requiring attention to affordability pressure across select tenant cohorts.
Demographic statistics within a 3-mile radius show a slight population dip in recent years alongside a small increase in households, suggesting smaller household sizes and ongoing apartment demand. Looking ahead, WDSuite’s CRE market data indicates households are projected to expand meaningfully by 2028, supporting a larger renter pool and occupancy stability for well-managed assets.
The property was built in 1999, slightly older than the neighborhood’s average construction year. That vintage often benefits from focused capital planning—select interior updates and systems modernization can enhance competitive positioning against newer stock while targeting value-add returns.
Relative to the Houston metro’s 1,491 neighborhoods, this area ranks toward the weaker end on safety and sits in the lower national percentiles, indicating a higher incidence of reported crime compared with many U.S. neighborhoods. Recent year-over-year readings show increases in both property and violent offenses at the neighborhood level.
For investors, this typically calls for proactive management: visible property-level security measures, lighting and access controls, and close coordination with residents and local resources. Positioning and pricing should account for these dynamics to sustain leasing velocity and retention.
Nearby corporate offices provide a sizable white-collar employment base that supports renter demand and commute convenience for residents, notably in energy, food distribution, and facilities services.
- Phillips 66 — energy (1.5 miles) — HQ
- Abm SSC — facilities services (2.9 miles)
- National Oilwell Varco — oilfield equipment (3.0 miles) — HQ
- National Oilwell Varco Employees CU — financial services (3.0 miles)
- Sysco — food distribution (3.2 miles) — HQ
This 60-unit, 1999-vintage asset sits in a renter-centric neighborhood with above-average occupancy and strong proximity to major employers. Elevated ownership costs locally reinforce reliance on rental housing, while moderate rent-to-income dynamics support renewal potential when paired with disciplined lease management. According to CRE market data from WDSuite, grocery and restaurant access are competitive within the metro, bolstering resident livability and leasing appeal.
Forward-looking indicators are favorable: within a 3-mile radius, households are projected to grow meaningfully by 2028, which points to a larger tenant base and supports long-run occupancy stability. Given the property’s slightly older vintage relative to the local average, targeted value-add—interiors, curb appeal, and systems—can enhance competitiveness and NOI without overcapitalizing. Risks to underwrite include neighborhood safety readings and limited park/childcare access, calling for prudent security investment and community-building initiatives.
- Renter-heavy neighborhood and above-average occupancy support steady leasing
- High-cost ownership market sustains multifamily demand and pricing power
- 3-mile area households projected to expand, enlarging the tenant base
- 1999 vintage offers value-add potential through selective upgrades
- Risks: weaker safety metrics and limited parks/childcare require proactive management