| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 32nd | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1602 Rose Shadow Ln, Houston, TX, 77038, US |
| Region / Metro | Houston |
| Year of Construction | 1981 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1602 Rose Shadow Ln Houston 24-Unit Value-Add Multifamily
Neighborhood renter concentration is high and occupancy has held comparatively firm, indicating depth for workforce housing, according to WDSuite’s CRE market data. Investors should focus on operational execution and selective upgrades to capture steady demand while managing affordability-sensitive pricing.
The property sits in an Inner Suburb pocket of Houston where neighborhood occupancy is reported at the neighborhood level and has remained above the national midpoint, supporting baseline leasing stability. Renter-occupied housing accounts for a large share of units locally, signalling a deep tenant base for multifamily operators rather than single-family ownership demand.
Daily-needs access is a relative strength: grocery options rank competitively among 1,491 Houston metro neighborhoods and are in the top quartile nationally, while restaurants also land in the national top quartile. By contrast, the neighborhood trails on cafes, parks, and pharmacies, indicating fewer lifestyle amenities immediately nearby and placing more emphasis on in-property services and convenience.
School quality at the neighborhood level tests in the top percentile nationally, a supportive signal for family-oriented renter demand and retention. These school metrics reflect the broader neighborhood and not the specific property.
Within a 3-mile radius, demographics show a stable population with a modest increase in households recently and projections pointing to further household growth. A rising household count with slightly smaller average household sizes suggests incremental expansion of the renter pool over time, which can support occupancy durability. Median home values are lower than many U.S. neighborhoods, which can introduce some competition from entry-level ownership; however, median asking rents are also moderate, so pricing strategy and leasing experience will shape retention and renewal outcomes.
Safety conditions test below national medians for neighborhoods, with the area ranking around the middle of the pack among 1,491 Houston metro neighborhoods. In the most recent year, estimates indicate violent incidents increased while property-related incidents eased slightly. This mix suggests vigilance on security, lighting, and resident engagement can be material to retention and asset performance. All figures reflect neighborhood-level trends, not the property.
Proximity to major energy and corporate services employers supports renter demand from commuting professionals and hourly staff. Nearby anchors include Halliburton, ExxonMobil’s Brookhollow presence, CenterPoint Energy, Enterprise Products, and Emerson Process Management.
- Halliburton — energy services (5.8 miles) — HQ
- ExxonMobil - Brookhollow Campus — energy (6.9 miles)
- Centerpoint Energy — utilities (7.0 miles)
- Enterprise Products — midstream energy (7.4 miles)
- Emerson Process Management — industrial automation (7.6 miles)
This 24-unit asset’s 1981 vintage positions it for targeted value-add: modernizing interiors and addressing systems can enhance competitiveness against older stock while keeping rents aligned with a price-sensitive tenant base. At the neighborhood level, occupancy has remained comparatively stable and renter concentration is high, supporting leasing velocity and depth of demand. Based on commercial real estate analysis informed by WDSuite’s CRE market data, daily-needs access (notably groceries and restaurants) and top-tier neighborhood school ratings help underpin retention for family and workforce renters.
Within a 3-mile radius, population is steady and households have been increasing, with forecasts pointing to additional household growth and a smaller average household size — dynamics that generally expand the renter pool and support occupancy stability. Balancing this, rent-to-income metrics indicate affordability pressure, and neighborhood safety trends warrant active onsite management and resident experience investments.
- High renter-occupied share supports demand depth and faster lease-ups at the neighborhood level
- 1981 vintage with practical value-add and systems updates to boost competitiveness
- Daily-needs access and top-tier neighborhood school ratings reinforce retention
- 3-mile household growth and smaller household sizes point to a gradually expanding renter pool
- Risks: below-national safety readings and affordability pressure require disciplined leasing and expense control