| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 31st | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12411 Woodforest Chase W, Houston, TX, 77013, US |
| Region / Metro | Houston |
| Year of Construction | 1998 |
| Units | 89 |
| Transaction Date | 2006-12-06 |
| Transaction Price | $5,600,000 |
| Buyer | WILLMAX WOODFOREST LP |
| Seller | WFC APTS LP |
12411 Woodforest Chase W, Houston Multifamily Investment
Renter demand is supported by a neighborhood renter-occupied share approaching half and access to everyday amenities, according to WDSuite’s CRE market data. While neighborhood occupancy trends are softer, proximity to major employers offers a diversified tenant base potential.
The property sits in an Inner Suburb of Houston with everyday conveniences close by. Neighborhood amenity depth leans practical rather than premium: grocery access ranks stronger than many areas (high national percentile), park availability is comparatively solid, and restaurant density outperforms national averages, while cafes and pharmacies are sparse. Average school ratings are below the U.S. midpoint, which is a consideration for family-oriented leasing strategies.
Neighborhood occupancy is below metro norms, signaling lease-up and retention require disciplined operations and competitive positioning. However, the share of housing units that are renter-occupied is meaningful (roughly half), which supports a steady tenant pipeline for workforce housing.
Within a 3-mile radius, recent trends show essentially flat population but a modest increase in households, indicating slightly smaller household sizes and a stable-to-expanding tenant base. Forward-looking projections show households rising further over the next five years, which can support occupancy stability and leasing velocity even if population growth remains muted.
Home values in the neighborhood are lower than many coastal markets, yet ownership costs relative to incomes are elevated enough to sustain multifamily demand. Rent-to-income levels remain manageable in this submarket, suggesting affordability pressure is limited and providing room for disciplined rent management without materially increasing retention risk.
Safety indicators for this neighborhood track below national averages, with crime levels higher than typical U.S. neighborhoods. Compared with the broader Houston metro, the area falls in a weaker safety tier among 1,491 neighborhoods, and recent year-over-year trends point to increases in both violent and property offenses.
For investors, this implies the need for proactive measures such as lighting, access controls, and partnership with professional security vendors, along with underwriting that accounts for higher operating diligence and potential insurance costs. Monitoring trend direction each quarter is advisable as part of asset management.
The area draws from a deep employment base in energy and utilities headquartered in and around Downtown Houston, supporting workforce housing demand and commute convenience for renters. Nearby anchors include Calpine, Waste Management, Kinder Morgan, NRG Energy, and CenterPoint Energy.
- Calpine — power generation (9.2 miles) — HQ
- Waste Management — environmental services (9.2 miles) — HQ
- Kinder Morgan — midstream energy (9.4 miles) — HQ
- NRG Energy — power & retail energy (9.4 miles)
- Centerpoint Energy — electric & gas utility (9.4 miles) — HQ
Built in 1998, the asset is newer than much of the surrounding stock, positioning it competitively versus neighborhoods with 1970s-era properties while still offering potential value-add through selective renovations and systems upgrades. According to CRE market data from WDSuite, the local renter-occupied share is substantial and household counts within 3 miles are projected to rise, supporting a durable tenant base even as neighborhood occupancy trends run below metro levels.
Proximity to multiple energy and utility headquarters expands the pool of steady-payroll renters. Ownership costs remain high enough relative to incomes to sustain renter reliance on multifamily housing, and rent-to-income metrics suggest room for disciplined pricing without outsized retention risk. Key underwriting considerations include safety-driven operating practices and competitive concessions where needed to maintain occupancy.
- 1998 vintage offers competitive positioning versus older submarket stock with targeted renovation upside
- Renter-occupied share near half and projected household growth within 3 miles support leasing depth
- Access to major energy and utility employers underpins workforce housing demand and retention
- Ownership costs relative to incomes reinforce reliance on rentals, aiding pricing power management
- Risks: below-metro neighborhood occupancy and weaker safety metrics require active management and conservative underwriting