| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 87th | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2501 Augusta Dr, Houston, TX, 77057, US |
| Region / Metro | Houston |
| Year of Construction | 1997 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2501 Augusta Dr Houston 102-Unit Multifamily
Renter demand is supported by a high renter-occupied housing share in the surrounding neighborhood and strong nearby employment, according to WDSuite’s CRE market data. Occupancy in the neighborhood trails metro norms, so effective leasing and renewals will be central to performance.
The property sits in Houston’s Urban Core with an A neighborhood rating and ranks 65 out of 1,491 metro neighborhoods — competitive at the metro level and effectively top quartile among Houston peers. Amenity access is mixed: grocery and pharmacy density are competitive among 1,491 metro neighborhoods, while parks and cafes are limited, which concentrates daily conveniences but may reduce lifestyle differentiation relative to higher-amenity sub-districts.
Rent levels in the neighborhood trend above national norms (median asking rents rank well nationally), while the neighborhood occupancy rate is below the metro median (rank 1,223 of 1,491). For investors, this combination points to pricing power where product is well-positioned but also to leasing competition that requires disciplined concessions management and targeted marketing.
Within a 3-mile radius, WDSuite data indicates population growth over the last five years and a further increase through 2028, alongside an 8%+ rise in households historically and additional household growth expected. A 3-mile renter concentration near 72% supports a larger tenant base and helps underpin absorption and renewal prospects even as household size trends modestly lower — dynamics that typically aid unit turnover and demand for smaller floor plans.
Home values in the neighborhood sit mid-range for Houston, which, paired with a rent-to-income ratio near one-fifth, suggests manageable affordability pressure that can support lease retention. The neighborhood’s average NOI per unit ranks in the top tier metro-wide (rank 7 of 1,491), signaling strong operating potential for well-managed assets, per commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood trend below national averages, with crime ranks in the back half of Houston’s 1,491 neighborhoods and national percentiles indicating comparatively higher incident rates. Recent year-over-year changes show property and violent offense rates moving unfavorably, so prudent security measures, lighting, and resident communication can be important for asset management.
Investors typically contextualize these metrics against Urban Core dynamics and proximity to employment. Positioning, on-site management quality, and building-level controls often drive outcomes that differ from broader neighborhood statistics.
Nearby corporate offices provide a broad white-collar employment base that supports multifamily renter demand and commute convenience. Notable employers within a short drive include Apache, Quanta Services, Prudential, Occidental, and Wells Fargo Advisors.
- Apache — energy (1.2 miles) — HQ
- Quanta Services — infrastructure services (1.3 miles) — HQ
- Prudential — financial services (2.0 miles)
- Occidental — energy (3.1 miles)
- Wells Fargo Advisors — financial services (3.9 miles)
Built in 1997, the asset is newer than the neighborhood’s average vintage, which can offer a competitive edge versus older stock while leaving room for selective modernization to drive rent premiums. Demand fundamentals are supported by a high share of renter-occupied housing in the neighborhood and 3-mile population and household growth that expands the prospective tenant base. According to CRE market data from WDSuite, neighborhood rents benchmark above national norms, while occupancy trails the metro, emphasizing the importance of asset differentiation and renewal discipline.
Local amenity density favors daily needs (grocers, pharmacies) and proximity to major employers, which can aid leasing velocity. Safety metrics are weaker than national averages, so underwriting should incorporate security and insurance considerations alongside value-add scope.
- 1997 vintage offers relative competitiveness with potential modernization upside
- High renter-occupied share and 3-mile population/household growth support demand depth
- Neighborhood rents above national norms; focus on differentiation to sustain pricing
- Proximity to major employers can bolster leasing and retention
- Risk: below-metro occupancy and weaker safety metrics require active management