| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 92nd | Best |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2440 North Blvd, Houston, TX, 77098, US |
| Region / Metro | Houston |
| Year of Construction | 1997 |
| Units | 113 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2440 North Blvd Houston Multifamily Investment Outlook
Neighborhood metrics point to deep renter demand supported by high-income households and elevated ownership costs, according to WDSuite’s CRE market data. Investors should focus on positioning for retention and lease-up in an amenity-rich pocket of Houston rather than property-level concessions.
Situated in an Inner Suburb location of Houston, the neighborhood surrounding 2440 North Blvd ranks competitively among 1,491 metro neighborhoods for daily conveniences. Food-and-beverage density is particularly strong (restaurants and cafes rank near the top locally and are top quartile nationally), and grocery and pharmacy access also register in the top national quartile. For residents, this concentration of services supports leasing appeal and reduces friction for day-to-day living.
The neighborhood maintains a sizable renter-occupied share at roughly 60% of housing units, indicating a broad tenant base and consistent demand for multifamily product. Median contract rents in the neighborhood sit at higher national percentiles, though recent five-year trends have softened, suggesting operators may prioritize product differentiation and service quality to sustain pricing power and limit turnover.
Within a 3-mile radius, WDSuite data shows recent population growth alongside an increase in households and families, with household sizes edging smaller. This combination typically supports a larger tenant base and steady absorption of professionally managed units, particularly in properties that align finishes and amenities to urban-lifestyle preferences.
Home values in the neighborhood sit at elevated national percentiles relative to incomes, signaling a high-cost ownership market that can reinforce reliance on rental housing and support lease retention for well-positioned assets. Built in 1997, the property is newer than the neighborhood’s average vintage (1971), providing a competitive edge versus older stock; investors should still plan for modernization of interiors and systems as part of a forward capex program.
Safety metrics for the neighborhood trend below both metro averages and national benchmarks. Based on WDSuite’s data, the area ranks toward the lower end among 1,491 Houston neighborhoods for crime, and national percentiles indicate safety is in the lower decile compared to neighborhoods nationwide. Recent one-year trends show increases in both property and violent offenses, underscoring the need for proactive on-site management practices and security-conscious design.
For investors, pragmatic mitigation measures—such as access control, lighting, and partnership with local public-safety initiatives—can support resident peace of mind and retention. Positioning and operations should reflect these dynamics when underwriting leasing velocity and marketing spend.
Nearby corporate offices create a strong white-collar employment base and convenient commutes that can bolster leasing and retention for workforce and professional renters. Key employers in energy and related corporate services within a short radius include the following.
- Occidental — energy corporate offices (0.95 miles)
- Baker Hughes — energy technology corporate offices (2.55 miles) — HQ
- Quanta Services — infrastructure & engineering corporate offices (2.75 miles) — HQ
- Prudential — financial services offices (2.98 miles)
- Apache — energy corporate offices (3.00 miles) — HQ
This 113-unit property’s location benefits from a high-amenity urban fabric, elevated ownership costs, and a renter-occupied housing base that supports depth of demand. According to CRE market data from WDSuite, the neighborhood’s service density ranks competitively in the Houston metro and in top national quartiles, while a 3-mile radius shows recent population growth and an increase in households—factors that generally reinforce leasing stability for professionally managed multifamily assets.
Built in 1997, the asset is newer than the neighborhood average vintage, offering relative competitiveness versus older stock and potential to capture premium positioning with targeted renovations. Underwriting should account for neighborhood safety metrics trending below national benchmarks and for softer rent momentum at the neighborhood level, balancing these risks against strong incomes, a substantial renter pool, and proximity to major employers.
- Amenity-rich location with top-quartile national access to restaurants, groceries, and pharmacies supports leasing appeal.
- High-cost ownership market and sizable renter-occupied share indicate depth of tenant demand and retention potential.
- 1997 vintage provides a competitive edge versus older neighborhood stock, with value-add potential via modernization.
- Risks: neighborhood safety ranks below metro and national averages and recent rent softness warrant conservative lease-up and expense assumptions.