| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 70th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1715 Enclave Pkwy, Houston, TX, 77077, US |
| Region / Metro | Houston |
| Year of Construction | 1983 |
| Units | 86 |
| Transaction Date | 2011-04-01 |
| Transaction Price | $2,750,000 |
| Buyer | Allen-Harrison Co. |
| Seller | Alliance HC IV, LP |
1715 Enclave Pkwy, Houston TX Multifamily Investment
High renter-occupied concentration and a high-cost ownership market support durable multifamily demand in this Houston neighborhood, even as occupancy trends run softer, according to WDSuite’s CRE market data.
Rated A and ranked 192nd among 1,491 Houston metro neighborhoods, this area sits in the top quartile locally while showing mixed fundamentals. Neighborhood rent levels track above national midpoints (72nd percentile), yet reported occupancy is below national averages, signaling the need for active leasing and resident retention strategies rather than aggressive short-term pricing.
The housing stock is newer on average (1999) than the subject property’s 1983 vintage, suggesting a value-add path: targeted renovations and system updates can enhance competitiveness versus nearby 1990s–2000s product while still undercutting newer Class A pricing. A very high share of renter-occupied housing at the neighborhood level (top national percentile) indicates a deep tenant base that can support lease-up and backfill, provided unit finishes and amenities align with local expectations.
Local amenity access is uneven: dining density is strong (around the 90th percentile nationwide), while cafés, parks, and pharmacies are less concentrated within the immediate neighborhood. For investors, this mix points to convenience for daily needs and restaurants, with onsite or nearby lifestyle amenities becoming a differentiator at the property level.
Within a 3-mile radius, demographics show essentially flat population in recent years but growth in household count and a trend toward smaller household sizes. Projections call for notable increases in households by 2028, implying a larger renter pool and support for occupancy stability. Elevated home values relative to incomes form a high-cost ownership backdrop, which generally sustains multifamily reliance; at the same time, a lower rent-to-income profile suggests reduced affordability pressure that can aid renewals and limit turnover. These dynamics are based on CRE market data from WDSuite.
Safety indicators for the neighborhood trend below national averages, with ranks and percentiles placing it outside the top performing cohorts. Relative to Houston metro peers (1,491 neighborhoods), the area is not among the stronger safety performers, and recent estimates indicate an uptick in property and violent offense rates year over year.
Investors typically account for this by prioritizing visibility, lighting, access control, and resident engagement, and by aligning operating practices with submarket norms. The takeaway: safety metrics present a manageable operational consideration rather than a thesis driver, and should be incorporated into underwriting and capital planning.
Proximity to major corporate offices underpins renter demand and commute convenience, notably at Sysco, ConocoPhillips, Phillips 66, Group 1 Automotive, and ABM SSC. This employment base supports leasing stability for workforce and professional renters.
- Sysco — corporate offices (0.5 miles) — HQ
- Conocophillips — corporate offices (2.5 miles) — HQ
- Phillips 66 — corporate offices (3.5 miles) — HQ
- Group 1 Automotive — corporate offices (4.8 miles) — HQ
- Abm SSC — corporate offices (5.5 miles)
The investment case centers on a deep renter base, high-cost ownership dynamics, and proximity to major employers, offset by softer neighborhood occupancy and operational safety considerations. With a 1983 vintage against a neighborhood average near 1999, the property presents value-add potential through interior upgrades and selective capital projects to improve competitive positioning and capture rent premiums versus older stock. According to CRE market data from WDSuite, the neighborhood’s renter-occupied housing share is among the highest nationally, and household growth within a 3-mile radius is projected to expand the tenant base through the forecast period.
Affordability signals are supportive: elevated home values reinforce reliance on multifamily, while a comparatively lower rent-to-income profile points to retention advantages. Execution should emphasize unit modernization, amenity differentiation, and disciplined leasing to navigate occupancy softness while leveraging nearby corporate employment for steady demand.
- Deep renter pool (top-tier renter-occupied share) supports backfill and lease-up
- 1983 vintage offers clear value-add and systems upgrade pathway versus newer neighborhood stock
- High-cost ownership market sustains multifamily reliance; lower rent-to-income aids retention
- Corporate employment nearby (Sysco, ConocoPhillips, Phillips 66) supports steady demand
- Risks: below-average neighborhood safety and softer occupancy require strong operations and leasing discipline