| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 10th | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13350 Northborough Dr, Houston, TX, 77067, US |
| Region / Metro | Houston |
| Year of Construction | 1985 |
| Units | 104 |
| Transaction Date | 2025-12-09 |
| Transaction Price | $11,347,560 |
| Buyer | NSI CANFIELD LLC |
| Seller | TC SPE 3 LLC |
13350 Northborough Dr, Houston TX Multifamily Investment
Workforce demand and a high renter concentration in the immediate neighborhood support leasing durability, according to WDSuite’s CRE market data, though performance will hinge on asset execution and tenant retention.
Located in an inner-suburban pocket of North Houston, the property sits within a neighborhood rated C- where renter-occupied housing accounts for a very high share of units (79% renter concentration). For investors, that depth of renters helps sustain demand for multifamily, but it also puts a premium on professional leasing and renewal management.
Neighborhood occupancy is below the metro median (84.2% and in the lower national percentiles), which suggests competition among assets and the need for targeted value propositions to drive absorption and retention. Median contract rents in the surrounding area are modest by metro standards, which can aid leasing velocity but may limit near-term pricing power without clear unit upgrades or service differentiation.
The 3-mile radius shows a growing resident base: population and households have expanded in recent years and are projected to continue rising, pointing to a larger tenant base and ongoing renter pool expansion. Household sizes are trending slightly smaller, which can support demand for 1–2 bedroom formats typical of 1980s garden assets.
The property’s 1985 vintage is slightly older than the neighborhood’s average construction year (1987). For investors, this points to potential value-add through interior refreshes and selective systems modernization to improve competitive positioning against similar stock.
Local amenity density is mixed: restaurants score above many peers in the metro, while cafes, groceries, and parks are limited, with strong pharmacy availability. In practice, this means residents rely more on auto-oriented retail nodes nearby rather than walkable options.
Affordability dynamics warrant attention. Neighborhood rent-to-income levels are elevated, which can create retention risk at renewal if increases outpace wages. Balanced rent-setting and resident services can help stabilize occupancy while maintaining collections.
Safety benchmarks are weaker than both national norms and the Houston metro median for this neighborhood. Based on CRE market data from WDSuite, the area sits in lower national percentiles for safety, indicating higher incident rates relative to many U.S. neighborhoods.
Within the Houston-The Woodlands-Sugar Land metro (1,491 neighborhoods), this location ranks below the metro median on crime, signaling investors should underwrite enhanced security measures, lighting, and active property management to support resident satisfaction and retention. Recent year-over-year estimates also indicate increases in both property and violent offenses locally, reinforcing the need for pragmatic on-site protocols rather than relying solely on market trends.
Nearby employment is anchored by energy, utilities, midstream, industrial automation, and technology offices, which support commuter convenience and consistent renter demand for workforce housing. Key employers include Halliburton, CenterPoint Energy, Enterprise Products, Emerson Process Management, and Hewlett Packard Enterprise.
- Halliburton — energy services (5.2 miles) — HQ
- Centerpoint Energy — utilities (7.1 miles)
- Enterprise Products — midstream (8.7 miles)
- Emerson Process Management — industrial automation (9.9 miles)
- Hewlett Packard Enterprise Customer Engagement Center — technology (10.0 miles)
This 104-unit, 1985-vintage community aligns with a neighborhood where renters make up the vast majority of housing, supporting a durable tenant base. According to CRE market data from WDSuite, local occupancy trends trail the metro median, so the investment case centers on disciplined operations, targeted unit renovations, and service differentiation to win renewals and sustain collections.
Demographic indicators within a 3-mile radius show recent and projected growth in both population and households, expanding the renter pool. Area rents remain relatively moderate, creating room for strategic value-add to capture incremental rent while monitoring elevated rent-to-income levels that could affect renewal elasticity.
- High renter concentration locally supports depth of demand for multifamily.
- 1985 vintage offers value-add potential via interior updates and selective systems modernization.
- 3-mile radius shows population and household growth, expanding the tenant base and supporting occupancy stability.
- Proximity to major employers underpins workforce housing demand and leasing resilience.
- Risks: below-metro occupancy and weaker safety metrics require active management, prudent rent-setting, and security investments.