| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 71st | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14702 Mittlestedt Champions Dr, Houston, TX, 77069, US |
| Region / Metro | Houston |
| Year of Construction | 2010 |
| Units | 56 |
| Transaction Date | 2018-08-06 |
| Transaction Price | $7,472,500 |
| Buyer | CLEAR LAKE INVESTORS V2 LLC |
| Seller | MITTLESTEDT CHAMPIONS LLC |
14702 Mittlestedt Champions Dr Houston Multifamily Investment
Neighborhood occupancy is exceptionally tight and local retail access is solid, pointing to steady renter demand in this inner-suburban pocket, according to WDSuite s CRE market data.
This Inner Suburb location is competitive among Houston-The Woodlands-Sugar Land neighborhoods (ranked 374 out of 1,491), with daily needs well served by strong grocery and pharmacy coverage while restaurants are reasonably accessible. Caf e9s and parks are thinner locally, so the amenity mix skews toward essentials rather than lifestyle uses 34a practical backdrop for workforce and family renters.
The neighborhood 39s housing stock skews older on average (early 1980s), while the subject a0asset a0was built in 2010. Newer vintage can be a competitive advantage versus nearby legacy properties, though investors should plan for mid-life system updates and selective modernization to maintain leasing velocity and positioning.
Within a 3-mile radius, demographics indicate a larger family presence and a growing, higher-earning tenant base relative to five years ago, with projections calling for continued population growth and a notable increase in households over the next five years. This points to a larger renter pool and supports occupancy stability as more households enter the market.
Neighborhood tenure shows a meaningful renter presence: roughly one-third of housing units are renter-occupied at the neighborhood level, with a similar share within 3 miles. For investors, that renter concentration suggests a stable base of multifamily demand, with lease-up and renewal supported by a balanced mix of owner and renter households.
Ownership costs in the immediate area are moderate by Houston standards. That context supports ongoing reliance on multifamily for many households while limiting extreme affordability pressure; it can aid retention and measured pricing power without overextending residents.
Safety conditions are mixed relative to national benchmarks. Overall crime sits below the national median for safety (national percentile in the low 40s), while recent year-over-year trends show a decline in violent incidents (improving trend in the low 70s nationally). Interpreting neighborhood crime data at a broad area level is most appropriate; block-level variation can differ from these metro-wide comparisons.
In the Houston-The Woodlands-Sugar Land metro, this neighborhood 39s crime positioning is mid-pack rather than top-tier. For underwriting, investors typically account for standard security measures and attention to lighting, access control, and visibility, which can support resident satisfaction and renewal outcomes over time.
Nearby employment is anchored by utilities, energy, enterprise technology, and industrial automation 34a mix that supports commuter convenience and helps sustain renter demand. The most relevant employers by proximity include CenterPoint Energy, Hewlett Packard Enterprise, Enterprise Products, Emerson, and Halliburton.
- CenterPoint Energy a0 34 utilities (3.6 miles)
- Hewlett Packard Enterprise Customer Engagement Center a0 34 enterprise technology (4.4 miles)
- Enterprise Products a0 34 midstream energy (6.4 miles)
- Emerson Process Management a0 34 industrial automation (8.9 miles)
- Halliburton a0 34 oilfield services (11.1 miles) a0 34 HQ
Built in 2010 with 56 units, the property offers a newer-vintage alternative to an area where average stock dates to the early 1980s. That relative youth can support competitiveness and limit near-term capital intensity versus older peers, while still warranting a plan for mid-life systems and cosmetic upgrades to preserve pricing power. Neighborhood occupancy is exceptionally tight (a neighborhood metric, not property-specific), and daily-need amenities are convenient, together indicating durable renter demand. According to CRE market data from WDSuite, the surrounding 3-mile area shows population growth and is projected to add households, expanding the renter base and supporting leasing stability.
Income levels in the broader 3-mile trade area have advanced, and rents remain in a range that typically supports retention without outsized affordability pressure for many segments. The ownership market is moderately priced, which can create some competition from entry-level ownership but also sustains steady multifamily reliance. Key risks to underwrite include mid-pack safety relative to national benchmarks, an amenity mix that favors essentials over lifestyle uses, and cyclical exposure to energy-adjacent employers.
- Newer 2010 vintage versus older neighborhood stock supports competitive positioning with manageable mid-life CapEx planning.
- Exceptionally tight neighborhood occupancy and growing 3-mile household counts reinforce demand and lease stability.
- Strong access to groceries, pharmacies, and restaurants supports daily convenience and renter retention.
- Balanced renter concentration indicates a durable tenant base with measured pricing power potential.
- Risks: mid-pack safety, limited lifestyle amenities nearby, and employment cyclicality tied to energy.