| 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 Opportunity
Neighborhood occupancy is strong and competitive, supporting stable renter demand around the asset, according to WDSuite s CRE market data. These signals reflect submarket-level resilience rather than building-specific performance.
Situated in Houston s inner suburban fabric, the neighborhood posts a high occupancy environment (96.7% at the neighborhood level), placing it in the top quartile among 1,491 metro neighborhoods. For investors, that backdrop typically supports steadier leasing and retention, though results will still depend on asset quality and execution.
Renter-occupied housing accounts for 46.1% of units in the neighborhood, indicating a sizable tenant base for multifamily. Median contract rent sits in the low-$1,100s locally, and a rent-to-income ratio near 0.23 points to manageable affordability pressure, which can aid lease stability and renewal rates.
Daily needs are reasonably served: grocery and pharmacy access rank above national norms, while restaurants are dense relative to peers. Park access and cafes are thinner, which may temper some lifestyle appeal. Average school ratings trend below national medians, so family-oriented leasing strategies may need thoughtful positioning on value and convenience to compete.
The property s 1983 vintage is broadly aligned with early-1980s neighborhood inventory (average 1981). That age profile often implies systems and common-area modernization opportunities; targeted capex can enhance competitive standing against newer stock while preserving a workforce-oriented value proposition.
Demographic statistics are aggregated within a 3-mile radius. Recent years show modest population contraction alongside smaller average household sizes, yet household incomes have risen and median contract rents have advanced. This mix suggests a shifting but durable renter pool, with more, smaller households supporting depth of demand for well-managed, value-driven units.
Safety indicators for the neighborhood sit below national medians, with crime metrics that are not among the top-performing cohorts nationwide. Within the Houston metro (1,491 neighborhoods), the area trends around the middle of the pack rather than the safest tier.
Violent and property offense rates track weaker than national percentiles, and recent year-over-year changes have been mixed. Investors commonly account for this with practical measures such as lighting, access control, and resident engagement to support tenant retention and asset performance.
Proximity to major corporate employers underpins a broad commuter base and supports leasing durability. Nearby anchors include ABM, National Oilwell Varco (and its employees credit union), Phillips 66, and Sysco.
- Abm SSC corporate offices (3.9 miles)
- National Oilwell Varco corporate offices (4.0 miles) HQ
- National Oilwell Varco Employees CU corporate offices (4.0 miles)
- Phillips 66 corporate offices (5.7 miles) HQ
- Sysco corporate offices (5.7 miles) HQ
This 100-unit, 1983-vintage asset benefits from a neighborhood with top-quartile occupancy among Houston s 1,491 neighborhoods, providing a favorable backdrop for leasing consistency. A sizable share of renter-occupied housing and median rents aligned with local incomes point to a broad tenant base and manageable affordability pressure. Based on CRE market data from WDSuite, grocery/pharmacy access is solid and restaurant density is strong, while limited parks and below-average school ratings suggest the property competes best on value, convenience, and operations.
The early-1980s vintage supports a clear value-add story through targeted renovations and systems upgrades to enhance competitiveness versus newer supply. Within a 3-mile radius, household incomes have grown even as household sizes trend smaller, which can sustain renter pool expansion in smaller-unit mixes. Lower median home values locally may introduce some competition from ownership, but they also keep multifamily positioned as a practical option for residents prioritizing flexibility and location.
- Neighborhood occupancy in the metro s top quartile supports leasing stability
- 1983 vintage offers targeted value-add and systems modernization potential
- Renter-occupied share and rising incomes underpin a durable tenant base (3-mile)
- Daily needs access is strong (grocery/pharmacy, restaurants), aiding retention
- Risks: safety metrics below national medians and school ratings may require thoughtful positioning