| 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 | 38 |
| Transaction Date | 2020-02-10 |
| Transaction Price | $5,908,800 |
| Buyer | GENTRY PARTNERS LLC |
| Seller | SOL Y CIELO I LLC |
13940 Alderson St, Houston TX Multifamily Investment
Neighborhood occupancy has held in a stable range and renter concentration is above the metro median, according to WDSuite’s CRE market data. This points to durable tenant demand for a 38-unit asset in an inner-suburban location.
The property sits in an Inner Suburb neighborhood rated C+ that is above the metro median for overall performance (rank 1,015 of 1,491 Houston-The Woodlands-Sugar Land neighborhoods). Local occupancy is measured at the neighborhood level and has trended steady, supporting leasing stability for workforce-oriented multifamily.
Amenity access is a relative strength: amenity rank is 203 of 1,491 (top quartile among metro neighborhoods), with restaurant and grocery density landing around the 90th percentile nationally. This mix helps with day-to-day convenience and broadens the appeal to renters prioritizing short trips for essentials and dining.
The neighborhood’s renter-occupied share is 53.2% of housing units, which is above most Houston submarkets and signals depth in the tenant base. Median contract rents in the neighborhood remain accessible versus many urban cores, which can aid retention; rent-to-income metrics suggest manageable affordability pressure for typical renters, an investor positive for renewal rates and occupancy.
Within a 3-mile radius, demographics show population and household growth over the past five years, with additional increases projected through 2028. A slightly smaller average household size is expected, implying a gradual expansion of the renter pool and steady demand for multifamily units. Average school ratings in the broader area are modest, which may narrow segments of demand but is typical for many inner-suburban workforce locations.
Vintage matters: built in 1980 versus a neighborhood average year of 1976, the asset is somewhat newer than nearby stock. That positioning can be competitive versus older properties, while investors should still plan for systems modernization and targeted renovations to capture value-add upside.
Safety indicators are mixed when viewed in context. The neighborhood’s crime rank sits near the middle of the pack at 719 out of 1,491 Houston-The Woodlands-Sugar Land neighborhoods, indicating conditions that are neither among the best nor worst regionally. Nationally, the area trends below average for safety, so underwriting should incorporate prudent security and operating practices.
Recent movement shows divergence: estimated property offenses decreased year over year, while estimated violent offenses increased. For investors, the key takeaway is to monitor submarket trends and on-site management effectiveness rather than relying on short-term swings at the neighborhood level.
Proximity to major energy and corporate offices supports a broad commuter tenant base and can aid retention through commute convenience. Nearby employers include Air Products, Calpine, Waste Management, Kinder Morgan, and NRG Energy.
- Air Products — corporate offices (9.5 miles)
- Calpine — corporate offices (11.4 miles) — HQ
- Waste Management — corporate offices (11.5 miles) — HQ
- Kinder Morgan — corporate offices (11.6 miles) — HQ
- NRG Energy — corporate offices (11.6 miles)
This 38-unit, 1980-built asset aligns with steady renter demand indicators for the neighborhood, where renter-occupied housing share is elevated and occupancy has remained resilient. According to CRE market data from WDSuite, amenity access ranks competitively among 1,491 metro neighborhoods and national amenity density benchmarks support day-to-day convenience—useful for leasing and renewals. The asset’s slightly newer vintage than nearby stock suggests targeted renovations and systems updates could translate into value-add positioning without the full capex burden seen in older 1970s assets.
Within a 3-mile radius, population and households have grown and are projected to increase further by 2028, pointing to a larger tenant base over time. Neighborhood home values remain comparatively accessible, which can introduce some competition from ownership; however, measured rent levels and manageable rent-to-income dynamics support retention and occupancy stability for workforce renters.
- Renter depth and stable neighborhood occupancy support leasing durability.
- Competitive amenity access versus metro peers helps tenant attraction and retention.
- 1980 vintage offers value-add potential through selective renovations and systems modernization.
- 3-mile population and household growth expands the renter pool, aiding long-term demand.
- Risks: mixed safety trends and relatively accessible ownership options may temper pricing power; active management and positioning are important.