| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 90th | Best |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1719 Gray St, Houston, TX, 77003, US |
| Region / Metro | Houston |
| Year of Construction | 2008 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1719 Gray St, Houston Multifamily Investment Near Downtown
Built in 2008, this asset competes well against older neighborhood stock while benefitting from strong amenity access and a deep renter pool, according to WDSuite’s CRE market data.
The location sits within an Inner Suburb setting adjacent to Downtown Houston, offering dense access to restaurants, cafes, groceries, parks, and pharmacies. Amenity availability tests in the top quartile nationally, reinforcing lifestyle convenience that helps attract and retain renters and supports leasing velocity.
The property’s 2008 vintage is newer than the neighborhood’s average construction year (1980s era), suggesting relative competitiveness versus older buildings. Investors should still plan for mid‑life system updates and selective common‑area refresh to maintain positioning against newer deliveries.
Within a 3‑mile radius, demographics skew toward working‑age adults and higher incomes, with population and household counts rising over recent years and projected to continue growing. This expansion points to a larger tenant base and supports occupancy stability. Renter‑occupied housing comprises a sizable share within this 3‑mile area, indicating depth in multifamily demand rather than reliance on a narrow segment.
Home values in the neighborhood test above national averages, and the local rent‑to‑income ratio trends around the national middle. For investors, a high‑cost ownership market can sustain renter reliance on multifamily housing, while moderate rent burdens support retention and reduce turnover risk. Neighborhood occupancy benchmarks register around the mid‑range nationally; underwriting should assume steady absorption with typical seasonal fluctuations rather than outsized lease‑up momentum.
Employment composition nearby includes a concentration of large corporate offices with relatively limited exposure to sectors most impacted during pandemic disruptions, which historically has supported income stability and apartment demand at the submarket level.
Safety indicators for this neighborhood trend below metro and national averages. On nationwide comparisons, the area sits in a lower percentile for safety, meaning reported crime levels are higher than in many U.S. neighborhoods. Relative to the Houston metro’s 1,491 neighborhoods, this area performs below the metro median, so prudent property management practices and security planning should be part of the operating playbook.
Recent year‑over‑year data also show increases in both property and violent offense rates. For investors, this elevates emphasis on measures such as controlled access, lighting, surveillance, and resident engagement, and it may influence insurance, staffing, and marketing assumptions. Monitoring trend direction quarter‑to‑quarter can help calibrate renewal strategy and pricing.
Proximity to major energy and infrastructure headquarters underpins renter demand through short commutes and a stable professional workforce. The following nearby employers are within roughly a mile of the property and can support daytime population and leasing retention.
- Waste Management — environmental services (0.8 miles) — HQ
- Centerpoint Energy — utilities (0.9 miles) — HQ
- Enterprise Products Partners — midstream energy (0.9 miles) — HQ
- Kinder Morgan — pipelines & midstream (0.9 miles) — HQ
- Plains GP Holdings — midstream energy (1.0 miles) — HQ
1719 Gray St offers a Downtown‑adjacent location with strong amenity density, access to multiple corporate headquarters, and a tenant base supported by rising population and households within a 3‑mile radius. The 2008 vintage positions the asset favorably versus older neighborhood stock, with room for value through targeted capital improvements. According to CRE market data from WDSuite, neighborhood occupancy and rent burdens track near national mid‑ranges, supporting steady leasing and retention while elevated ownership costs locally tend to sustain multifamily demand.
Key considerations include below‑average safety benchmarks that warrant proactive operations and potential insurance and security line items. With measured assumptions on rent growth and ongoing investment in curb appeal and systems, the asset can compete effectively against both older comparables and select newer deliveries.
- Downtown‑adjacent, top‑quartile amenity access supports leasing velocity
- 2008 vintage offers competitive positioning vs. older stock with targeted value‑add upside
- 3‑mile demographics show growing households and strong incomes, expanding the renter base
- Elevated ownership costs reinforce multifamily demand and retention potential
- Risk: below‑average safety metrics require enhanced security, insurance, and marketing strategies