| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 91st | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2120 Kipling St, Houston, TX, 77098, US |
| Region / Metro | Houston |
| Year of Construction | 2006 |
| Units | 27 |
| Transaction Date | 2013-04-01 |
| Transaction Price | $6,750,000 |
| Buyer | Paul S. McDonald and Associates, |
| Seller | 2120 Kipling, LLC |
2120 Kipling St Houston — 27-Unit Urban Core Multifamily
In an A+ Urban Core neighborhood with strong amenities and high-cost homeownership, renter demand appears resilient according to WDSuite’s CRE market data.
Set in Houston’s Urban Core, the immediate neighborhood ranks first among 1,491 metro neighborhoods, indicating top-tier fundamentals relative to the region. Amenity density is a clear strength: restaurants, groceries, parks, pharmacies, and cafes all score in the upper national percentiles, supporting day-to-day convenience and helping properties compete for tenants.
The area skews heavily renter-occupied at the neighborhood level, with renter concentration in the top decile nationally. For investors, that typically signals a deeper tenant base and supports leasing velocity, even if individual assets must still differentiate on product and management. Neighborhood occupancy is below national norms, so underwriting should focus on property-level positioning and operational execution to capture demand.
Within a 3-mile radius, population and households have expanded in recent years, and WDSuite’s data indicate further renter pool expansion through the forecast period. Median contract rents in this 3-mile area have risen over the past five years and are projected to continue advancing, while incomes are high and rising, which can support pricing power and reduce turnover risk when paired with prudent lease management.
Median home values in the immediate neighborhood are elevated relative to most U.S. areas, reinforcing reliance on multifamily housing and helping sustain renter demand. The property’s 2006 vintage is newer than the neighborhood’s older average stock and should compare well against legacy buildings, though mid-life systems and finishes may still warrant programmatic updates to sharpen competitiveness.
Safety indicators are mixed and warrant monitoring. The neighborhood’s safety rank sits in the lower tier relative to Houston’s 1,491 neighborhoods, and national comparisons place it below typical U.S. safety levels. For investors, this suggests paying close attention to security practices, lighting, and access controls as part of asset management and resident retention strategy.
Recent year-over-year estimates indicate increases in both property and violent offenses in the surrounding area. While these metrics fluctuate over time, underwriting should incorporate conservative assumptions around insurance, security enhancements, and potential operating contingencies, alongside engagement with local safety initiatives.
Energy and corporate services anchor the nearby employment base, providing strong white-collar renter demand and short commutes to major offices including Occidental, Baker Hughes, Plains GP Holdings, EOG Resources, and Prudential.
- Occidental — energy corporate offices (1.4 miles)
- Baker Hughes — energy technology (1.7 miles) — HQ
- Plains GP Holdings — midstream energy (2.7 miles) — HQ
- EOG Resources — exploration & production (2.8 miles) — HQ
- Prudential — financial services (2.8 miles)
2120 Kipling St offers 27 large-format units in an A+ Urban Core location where amenity density, high household incomes, and elevated neighborhood home values underpin multifamily demand. Based on commercial real estate analysis from WDSuite, the surrounding area maintains a deep renter base, and the property’s 2006 vintage should outperform older competing stock with targeted modernization to enhance curb appeal and unit finishes.
While neighborhood occupancy trends trail national norms and safety metrics call for prudent security measures, 3-mile demand drivers—population and household growth, rising incomes, and projected rent gains—support a case for stable absorption and disciplined rent management. Execution focus should center on marketing, resident experience, and selective capex to sustain retention and capture incremental pricing.
- A+ Urban Core location with top-tier amenities and strong white-collar employment access
- Deep renter base at the neighborhood level supports leasing velocity and occupancy stability
- 2006 vintage provides competitive edge versus older stock; value-add via targeted modernization
- 3-mile growth in households and incomes supports rent advancement and retention
- Risks: below-national neighborhood occupancy and safety metrics require conservative underwriting and active management