| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 71st | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18707 Egret Bay Blvd, Houston, TX, 77058, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 108 |
| Transaction Date | 2016-09-27 |
| Transaction Price | $16,375,000 |
| Buyer | EGRETBAY18707 LLC |
| Seller | TOWERS CL LTD |
18707 Egret Bay Blvd Houston Multifamily Investment
Stabilized renter demand and strong amenity access in an inner-suburban Houston location support leasing durability, according to WDSuite’s CRE market data. This positioning can help mitigate cyclicality while leaving room for targeted operational and capital improvements.
The property sits in an Inner Suburb neighborhood that ranks in the top quartile among 1,491 Houston metro neighborhoods (A- rating), signaling competitive fundamentals for a workforce and mid-market renter base. Amenity access is a positive differentiator: restaurant and cafe density track near the top of the metro and well above most U.S. neighborhoods, while pharmacy access is strong. Limited nearby grocery and park coverage means some residents will rely on short drives for daily needs, but the broader trade area still offers day-to-day convenience.
Vintage and asset positioning matter here. The building’s 1984 construction is slightly newer than the neighborhood’s average 1981 vintage, suggesting relative competitiveness versus older stock, though investors should plan for aging systems and selective modernization to sharpen curb appeal and operating efficiency.
Tenure data points to a durable renter base. Within the neighborhood, 44.4% of housing units are renter-occupied, indicating meaningful depth for multifamily leasing. At the 3-mile radius, renters account for an even larger share of occupied housing, reinforcing a broad tenant pool for one- and two-bedroom product typical of sub-700 sf averages.
Demographics within a 3-mile radius show households up 13.7% over five years despite essentially flat population, implying smaller household sizes and a potential shift toward apartment living that can support occupancy stability. Looking forward, WDSuite’s projections indicate a 60%+ increase in households and rising incomes by 2028, expanding the renter pool and supporting rent growth expectations. Neighborhood rents sit around the national mid-range with a rent-to-income profile that suggests manageable affordability pressure for many tenants, aiding retention and steady lease trade-outs.
Ownership costs in the immediate area are moderate by national standards, which can create some competition with entry-level homeownership. That said, elevated amenity access and commute convenience typically sustain rental demand and leasing velocity for well-managed assets in this submarket.
Safety indicators are mixed when viewed against national benchmarks. The neighborhood’s violent offense rate trends in the lower national percentiles (around the 18th percentile), and property offenses sit near the 22nd percentile nationwide, indicating safety conditions that are below national averages. Within the Houston metro context, the neighborhood’s overall crime ranking sits roughly around the metro median among 1,491 neighborhoods, reflecting conditions that are neither the weakest nor the strongest locally.
Recent momentum is noteworthy: estimated property offense rates decreased by about 12.6% year over year, while violent offenses rose over the same period. Investors should factor in standard safety-driven operating practices (lighting, access control, partnerships with local patrols) and underwrite to ongoing monitoring rather than assuming linear improvement.
Proximity to diversified employers supports everyday commute convenience and a steady renter pipeline, with concentrations in aerospace, energy, and communications represented below.
- Boeing: Bay Area Building — aerospace offices (3.6 miles)
- Calpine Turbine Maintenance Group — energy services (4.8 miles)
- Dish Network — communications (12.1 miles)
- Air Products — industrial gases (15.7 miles)
- Waste Management — environmental services (21.9 miles) — HQ
This 108-unit, 1984-vintage asset in an Inner Suburb of Houston benefits from a top-quartile neighborhood standing and strong amenity density that bolsters leasing velocity. The area’s renter concentration and 3-mile household growth backdrop indicate a broad and expanding tenant base, while moderate rent-to-income levels support retention. According to CRE market data from WDSuite, the neighborhood’s rent positioning is mid-range nationally, creating room for disciplined revenue management rather than relying on outsized rent spikes.
Operationally, the property’s slightly newer-than-neighborhood vintage offers a platform for focused value-add: systems upgrades, light interior refreshes, and energy-efficiency measures to enhance competitiveness versus older stock. Risks include softer neighborhood occupancy relative to national norms and mixed safety trends; however, proximity to diversified employers and improving property-crime momentum can underpin steady demand for well-managed units.
- Inner-suburban location with strong amenity access supports leasing durability
- 1984 vintage with clear value-add pathways (systems, interiors, efficiency)
- Broad renter base and projected 3-mile household growth support occupancy stability
- Mid-range rent positioning enables disciplined revenue management
- Risks: neighborhood occupancy below national averages and mixed safety trends require prudent operations