| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 89th | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2716 Brazos St, Houston, TX, 77006, US |
| Region / Metro | Houston |
| Year of Construction | 2013 |
| Units | 96 |
| Transaction Date | 2014-05-21 |
| Transaction Price | $60,500,000 |
| Buyer | MCGOWEN BRAZOS VENTURE LTD |
| Seller | 2700 BRAZOS VENTURES LLC |
2716 Brazos St, Houston Multifamily Opportunity
Urban-core positioning supports steady renter demand, with neighborhood occupancy around 92% and a high renter concentration, according to WDSuite’s CRE market data.
This Urban Core location offers daily convenience that appeals to renters: restaurants and cafes are dense (both ranked within the competitive tier among 1,491 metro neighborhoods) and parks and groceries are readily accessible. Nationally, dining and park access sit in the mid-90s percentiles, reinforcing walkable lifestyle fundamentals that can aid retention.
Neighborhood occupancy is 92.1%, placing it above the national median but not in the top quartile. The area’s renter-occupied share is high at 65.4% (ranked 150 of 1,491 metro neighborhoods), signaling a deep tenant base for multifamily assets and supporting leasing velocity and renewal potential through cycles.
Income levels trend above national norms (median household income ranks in the 70th national percentile) and educational attainment is strong (top percentile band nationally). Together with a smaller average household size (ranked 14 of 1,491 in the metro), this points to demand for smaller-format, professionally managed units attractive to young professionals.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, with households rising faster than population—indicating smaller household sizes and a broadening renter pool. Median contract rents in the neighborhood sit in the low-80s national percentile, while rent-to-income levels imply manageable affordability pressure for many tenants, supporting occupancy stability and disciplined rent management.
Median home values are elevated versus national norms, which typically sustains reliance on rental housing and can bolster retention for well-located assets. The property’s 2013 vintage is newer than the neighborhood’s average 1983 stock, an advantage in competitive positioning versus older assets nearby.
Safety metrics indicate the neighborhood performs below both metro and national averages: its crime rank is in the lower tier (1,224th out of 1,491 metro neighborhoods) and national percentiles sit in the single digits, signaling comparatively higher reported crime than many areas nationwide. Investors should underwrite with prudent security and operational controls typical for dense urban districts.
Recent year estimates point to increases in both property and violent offenses at the neighborhood level. While block-level conditions can vary, it is reasonable to assume enhanced lighting, access control, and active management will be important components of risk mitigation and tenant retention strategies.
Proximity to a concentration of energy headquarters and corporate offices underpins workforce housing demand and short commutes, which can aid leasing and retention. The nearby employment base includes Plains GP Holdings, EOG Resources, Enterprise Products Partners, CenterPoint Energy, and Targa Resources.
- Plains GP Holdings — corporate offices (0.85 miles) — HQ
- Eog Resources — corporate offices (0.97 miles) — HQ
- Enterprise Products Partners — corporate offices (0.98 miles) — HQ
- Centerpoint Energy — corporate offices (0.99 miles) — HQ
- Targa Resources — corporate offices (1.04 miles) — HQ
Built in 2013 with 96 units averaging roughly 800 square feet, the property offers a newer-vintage alternative to the neighborhood’s predominantly 1980s stock—supporting competitive positioning and potentially lower near-term capital needs. Strong renter concentration in the neighborhood and an urban amenity set that ranks competitive among 1,491 metro neighborhoods support a durable tenant base and occupancy stability, based on CRE market data from WDSuite.
Within a 3-mile radius, population and households have increased and are projected to continue growing, expanding the renter pool. Elevated home values relative to national norms tend to sustain reliance on multifamily housing, while rent-to-income levels suggest manageable affordability pressure that can support lease retention and steady pricing. Key risks include below-average safety metrics typical of dense urban cores and the need for ongoing security and operational diligence.
- Newer 2013 vintage relative to 1980s neighborhood stock supports competitive positioning and moderated near-term capex
- High neighborhood renter concentration (65%+) indicates deep tenant base and supports leasing velocity
- Urban-core amenity density and strong corporate nodes nearby aid retention and weekday occupancy
- 3-mile population and household growth expand the renter pool, supporting occupancy stability
- Risk: Below-average safety metrics warrant prudent security, access control, and active on-site management