| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 31st | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12475 Wood Forest Dr, Houston, TX, 77013, US |
| Region / Metro | Houston |
| Year of Construction | 1998 |
| Units | 115 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
12475 Wood Forest Dr Houston Multifamily Investment
1998 construction offers a newer-vintage position versus much of the surrounding stock, with a sizable renter-occupied presence nearby supporting tenant depth, according to CRE market data from WDSuite. Neighborhood occupancy trends are softer, so underwriting should lean on workforce demand and operational execution rather than outsized rent assumptions.
The property sits in an Inner Suburb pocket of Houston with everyday conveniences close by. Grocery access is comparatively strong (nationally above average), restaurants are reasonably available, and parks rank in the higher tier locally, while cafes and pharmacies are sparse. Average school ratings trend below metro norms, which can influence family-driven demand but does not preclude workforce leasing.
Vintage matters: the neighborhood s typical construction year skews older than this asset (1976 vs. the property s 1998), positioning the asset as relatively competitive versus older comparables. That said, systems from the late 1990s may still warrant targeted modernization to sustain renter appeal and limit downtime.
Renter-occupied housing accounts for a substantial share of nearby units (neighborhood renter concentration ranks in the upper tier locally), which supports a broader tenant base for multifamily. However, neighborhood occupancy is below metro averages, so performance hinges on effective leasing, amenity relevance, and pricing discipline rather than assuming rapid lease-up.
Within a 3-mile radius, demographics show modest recent population growth with a concurrent rise in households and a gradual reduction in average household size. Forward-looking data indicates households are projected to continue increasing despite a flat-to-slightly lower population trend, expanding the pool of smaller households and supporting demand for rental units. Median home values and value-to-income ratios suggest a relatively higher-cost ownership market in the area, which can sustain renter reliance on multifamily housing and aid retention. Median asking rents in the 3-mile area have risen over the last five years and are projected to continue increasing, based on CRE market data from WDSuite.
Relative to Houston s 1,491 tracked neighborhoods, this area s crime rank places it below the metro average, and it sits in a low national safety percentile. Investors should weigh this against workforce accessibility and amenity proximity, focusing on on-site security practices and strong property management to support resident retention.
Recent year-over-year estimates indicate increases in both property and violent offenses at the neighborhood level. While these figures are neighborhood-wide (not property-specific), they warrant conservative underwriting for security line items and attention to visibility, lighting, and partnership with local resources.
Proximity to Houston s energy and utilities corporate core underpins a stable employment base for workforce renters, with several headquarters within roughly 10 miles supporting commuting convenience and leasing durability.
- Calpine — power generation (9.5 miles) — HQ
- Waste Management — environmental services (9.6 miles) — HQ
- Kinder Morgan — midstream energy (9.7 miles) — HQ
- NRG Energy — power & utilities (9.7 miles)
- Centerpoint Energy — utilities (9.8 miles) — HQ
Built in 1998 with 115 units, the asset offers a newer-vintage profile relative to nearby housing, which can reduce immediate capital intensity while providing selective value-add levers (interiors, efficiency upgrades, and curb appeal). The surrounding neighborhood presents a sizable renter-occupied base and solid proximity to major energy and utilities employers. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than the metro, so the investment thesis should focus on disciplined leasing, targeted renovations, and resident retention rather than outsized rent growth.
Within a 3-mile radius, households have increased and are projected to continue rising even as average household size edges lower, expanding the renter pool for smaller-format units. Homeownership costs appear relatively elevated versus local incomes, which can reinforce demand for rental housing and support pricing power when paired with strong management. Risk management should address neighborhood safety metrics and below-metro occupancy by emphasizing security, visibility, and amenity programming aligned to workforce tenants.
- Newer 1998 vintage relative to area stock with selective value-add and modernization potential
- Large nearby renter base and workforce demand supported by energy/utilities employers
- Household growth within 3 miles and smaller household sizes expand the tenant pool
- Ownership costs relatively high versus incomes, sustaining reliance on rentals
- Risks: below-metro neighborhood occupancy and weaker safety metrics require strong management and security focus