| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 22nd | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13210 Old Richmond Rd, Houston, TX, 77083, US |
| Region / Metro | Houston |
| Year of Construction | 1983 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
13210 Old Richmond Rd Houston Multifamily Investment
Neighborhood occupancy is strong and consistent for this inner-suburb location, according to WDSuite’s CRE market data, supporting stable tenant retention. Note: occupancy and housing dynamics referenced here describe the surrounding neighborhood, not the property.
This Inner Suburb neighborhood carries a B- rating and shows steady renter demand. Neighborhood occupancy is in the top quartile among 1,491 Houston metro neighborhoods and in the upper tiers nationally, a constructive backdrop for lease stability and renewal rates based on CRE market data from WDSuite. The renter-occupied share of housing units is elevated for the area, indicating a deep tenant base that generally supports absorption for multifamily.
Amenities trend mixed: restaurants are dense (around the 93rd percentile nationally), with grocery and pharmacy access above national averages, while parks and cafes are limited within the immediate area. Average school ratings lean below national norms (around the 37th percentile), which investors may factor into marketing and tenant mix strategies.
Within a 3-mile radius, demographics point to a modestly smaller population versus five years ago, but households are projected to increase as average household size declines. That shift can expand the renter pool and sustain unit demand, particularly for efficient floor plans. Household incomes have trended higher historically and are projected to continue rising, which can support collections and modest rent growth management.
Ownership costs are comparatively more accessible than many national markets, which can introduce some competition from entry-level for-sale options. At the same time, neighborhood median contract rents sit near national mid-range levels and rent-to-income is relatively manageable, supporting retention while suggesting measured pricing power rather than outsized increases.
Safety indicators track below national medians for comparable neighborhoods, placing this area in lower national percentiles for safety. Recent year-over-year trends show small increases in both property and violent offense rates, suggesting investors should underwrite prudent security measures and emphasize on-site management practices. Relative to the broader Houston metro, conditions are mixed and warrant property-level mitigation and tenant engagement rather than reliance on neighborhood improvements alone.
Nearby employers span energy and corporate services, offering diversified white- and blue-collar employment that supports renter demand and reduces commute frictions for residents. The list below highlights close-in corporate offices and headquarters that can underpin leasing stability.
- Abm SSC — corporate services (3.8 miles)
- National Oilwell Varco Employees CU — financial services (3.8 miles)
- National Oilwell Varco — energy equipment (3.8 miles) — HQ
- Phillips 66 — energy (5.6 miles) — HQ
- Sysco — food distribution (5.7 miles) — HQ
The investment case centers on resilient renter demand, evidenced by neighborhood occupancy rates in the top quartile metro-wide and strong renter concentration, supporting absorption and renewal performance. Within a 3-mile radius, projections show fewer residents but more households and smaller household sizes, a pattern that can expand the tenant base for efficiently sized units while supporting occupancy stability. According to CRE market data from WDSuite, local rents sit near national mid-range levels and rent-to-income remains manageable, supporting retention and steady, not speculative, growth management.
Amenities are serviceable for daily needs with strong restaurant, grocery, and pharmacy access, though limited parks and below-average school ratings may cap family-centric appeal. Ownership costs in the area are relatively accessible, which can create some competition from for-sale options, so underwriting should emphasize operational execution, targeted upgrades, and careful pricing to maintain a value proposition versus entry-level ownership.
- High neighborhood occupancy and elevated renter-occupied share support leasing stability
- 3-mile outlook shows more households with smaller sizes, widening the renter pool
- Mid-range rent levels and manageable rent-to-income aid retention and collections
- Daily-needs amenities nearby; targeted upgrades can enhance competitive positioning
- Risks: below-average school ratings, limited parks, and safety metrics below national medians