| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13940 Alderson St, Houston, TX, 77015, US |
| Region / Metro | Houston |
| Year of Construction | 1980 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
13940 Alderson St Houston 1980 Multifamily Investment
Neighborhood occupancy has improved in recent years, according to WDSuite’s CRE market data, pointing to steadier cashflow potential supported by a sizable renter base.
Located in an inner-suburban pocket of Houston, the area around 13940 Alderson St offers everyday convenience with strong food and grocery access. Restaurant and grocery densities are around the 90th percentile nationally, which helps support renter retention and day-to-day livability for a workforce tenant base. Parks access is also competitive by national standards, while pharmacy and childcare options are thinner, which may modestly affect family-oriented appeal.
The neighborhood shows a renter-occupied housing share of 53.2%, placing it in the top quartile nationally and signaling a deeper tenant pool for multifamily assets. Neighborhood occupancy stands at 92.1% with a positive five-year trend, supporting baseline leasing stability. Median contract rents remain comparatively accessible for Houston, which can aid leasing velocity, though it may temper near-term pricing power versus higher-rent submarkets.
Within a 3-mile radius, population and household counts have grown over the past five years, with further increases forecast, indicating a larger tenant base over time. Median household incomes in the 3-mile radius have risen, and are projected to continue growing, which can support gradual rent step-ups if asset quality and management justify it. School options in the immediate neighborhood average 2.0 out of 5 (below national midrange), an underwriting consideration for family-driven demand.
The property’s 1980 vintage is slightly newer than the neighborhood’s typical 1970s housing stock. Investors should underwrite ongoing capital needs common to assets of this era—systems modernization and targeted interiors—while noting potential value-add upside relative to older comparables.
Safety outcomes in this neighborhood trail national averages, and the area ranks below many Houston peers on crime. That said, property offenses have declined by roughly one-fifth year over year, a constructive near-term trend that investors can monitor alongside local enforcement and community initiatives.
For investors, the takeaway is risk management: emphasize lighting, access controls, and resident engagement, and reflect area comparables in loss and expense underwriting. Continued improvement would support retention and marketing, while setbacks could pressure concessions or security line items.
Proximity to Houston’s energy and services corporate base supports workforce housing demand and commute convenience, with notable employers clustered within roughly 9–12 miles including Air Products, Calpine, Waste Management, Kinder Morgan, and CenterPoint Energy.
- Air Products — industrial gases (9.5 miles)
- Calpine — power generation (11.4 miles) — HQ
- Waste Management — environmental services (11.5 miles) — HQ
- Kinder Morgan — midstream energy (11.6 miles) — HQ
- CenterPoint Energy — utilities (11.7 miles) — HQ
This 106-unit, 1980-vintage asset sits in an inner-suburban Houston neighborhood with a sizable renter base and improving neighborhood occupancy. Amenities that matter to residents—food options, groceries, and parks—score near the top of national comparisons, supporting day-to-day livability and lease retention. Based on CRE market data from WDSuite, neighborhood rents remain comparatively accessible, suggesting solid absorption and the potential to capture incremental rent through targeted upgrades rather than aggressive mark-to-market plays.
The vintage points to typical late-1970s/1980s capital planning—mechanicals, exteriors, and interiors—creating a practical value-add path versus older stock. Within a 3-mile radius, population and households are expanding and are projected to increase further, implying a gradually larger renter pool. Counterbalancing factors include below-average school ratings and safety metrics that trail national norms; underwriting should reflect security, marketing, and potential retention initiatives.
- Large local renter base and improving neighborhood occupancy support leasing stability
- Strong amenity access (restaurants, groceries, parks) aids resident retention
- 1980 vintage offers actionable value-add via systems and interior upgrades
- 3-mile demographic growth indicates a gradually expanding tenant pool
- Risk: below-average school ratings and lagging safety metrics warrant conservative underwriting