| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 34th | Fair |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3023 Woodcreek Ln, Houston, TX, 77073, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3023 Woodcreek Ln Houston Multifamily Investment
Neighborhood occupancy has remained comparatively stable with moderate rent levels, according to WDSuite’s CRE market data, suggesting steady tenant retention potential at this inner-suburban location. While performance varies by asset, the area’s rent-to-income profile indicates manageable affordability pressures that can support leasing durability.
Located in an Inner Suburb of Houston, the neighborhood carries a C rating and sits above the metro median on housing fundamentals, per WDSuite’s commercial real estate analysis. Median contract rents are moderate for the metro and have trended upward over the last five years, while the neighborhood occupancy rate is in the top half nationally, indicating generally steady absorption despite cyclical softening.
Within a 3-mile radius, population and household counts have grown meaningfully in recent years and are projected to continue expanding, supporting a larger tenant base over time. Renter-occupied housing makes up roughly one-third of units at the neighborhood level, signaling a diversified tenure mix and a reasonably deep multifamily demand pool without overreliance on renters.
Amenity density is limited nearby—few cafes, parks, and pharmacies—though grocery and restaurant access is comparable to many Houston inner suburbs. Average school ratings hover around the national midpoint, which can help sustain family-oriented renter demand, but they are not a premium differentiator.
The property’s 1984 vintage is older than the neighborhood’s average construction year. For investors, this points to potential value-add opportunities through interior modernization and systems updates, alongside prudent capital planning to maintain competitive positioning against newer stock.
Relative to neighborhoods nationwide, WDSuite’s data indicates this area falls below the national median for safety, with property crime higher than average and violent crime also elevated. Within the Houston metro, results track around the middle of the pack among 1,491 neighborhoods, with a recent year-over-year uptick in reported rates.
For investors, this calls for practical measures: active property management, lighting and access control, and resident engagement to support leasing stability. It may also influence insurance costs and operating practices; underwriting should reflect neighborhood-level trends rather than block-level assumptions.
Proximity to large employers supports workforce housing demand and commute convenience for residents, particularly in energy and healthcare services. Key nearby employers include Halliburton, CenterPoint Energy, McKesson Specialty Health, Anadarko Petroleum, and FedEx Office.
- Halliburton — energy services (5.8 miles) — HQ
- Centerpoint Energy — utilities (10.6 miles)
- McKesson Specialty Health — healthcare services (11.0 miles)
- Anadarko Petroleum — energy (11.1 miles) — HQ
- FedEx Office Print & Ship Center — business services (12.0 miles)
This 42-unit asset positions investors in an Inner Suburb with steady renter demand and moderate rents relative to income, supporting occupancy durability. Based on CRE market data from WDSuite, neighborhood occupancy trends sit in the top half nationally with five-year rent growth, while a growing 3-mile population and household base expands the local renter pool. The homeownership landscape is relatively accessible for the metro, so pricing strategy should balance competitiveness with retention.
Built in 1984, the property is older than the neighborhood average, creating a clear path for value-add through interior refreshes and targeted system upgrades to compete with 1990s-and-newer stock. Amenity-light surroundings and below-median safety underscore the importance of on-site features, management, and security investments to support leasing and renewals.
- Occupancy and rent trends in the top half nationally support stable leasing
- 3-mile population and household growth expands the tenant base over time
- 1984 vintage offers value-add upside through modernization and repositioning
- Moderate rents versus incomes provide room for disciplined pricing and retention
- Risks: below-median safety and limited neighborhood amenities require strong operations