| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 Berry Rd, Houston, TX, 77022, US |
| Region / Metro | Houston |
| Year of Construction | 2002 |
| Units | 94 |
| Transaction Date | 2017-12-07 |
| Transaction Price | $5,415,000 |
| Buyer | AVENUE DEVELOPMENT LLC |
| Seller | OA TOWNHOME LTD |
310 Berry Rd, Houston — 2002 Multifamily, 94 Units
Positioned in an Inner Suburb pocket with steady renter demand, the asset benefits from a 2002 vintage that competes well against older local stock, according to CRE market data from WDSuite. Neighborhood occupancy has held in the upper-80s, supporting income stability with prudent leasing management.
The property sits in a Houston Inner Suburb neighborhood rated C+ and performing above the metro median in several daily-needs amenities. Grocery and pharmacy density ranks in the top quartile nationally, while restaurants are also strong compared with U.S. peers; parks, cafes, and childcare options are limited by contrast. For multifamily property research, this mix suggests convenient essentials for residents even if lifestyle amenities are thinner nearby.
The asset’s 2002 construction is newer than the neighborhood’s average vintage from the 1970s, offering relative competitiveness versus older stock. That positioning can reduce near-term capital exposure versus pre-1980 assets, while still allowing targeted upgrades to capture rent premiums where finishes or systems are dated.
Unit tenure data indicates about 42% of neighborhood housing units are renter-occupied, providing a meaningful tenant base for leasing and renewal activity. Neighborhood occupancy has recently tracked near the high-80s; owners should expect stable demand with attention to pricing and retention in this workforce-oriented submarket.
Demographics aggregated within a 3-mile radius show households have grown even as average household size edged lower, and projections indicate additional household gains over the next five years. This combination points to a larger tenant base and more renters entering the market, which can support occupancy and absorption for well-managed properties.
Home values remain moderate in metro context, and the local rent-to-income ratio near the high-teens suggests manageable affordability pressure. For investors, that balance can aid lease retention, though ownership options may compete for higher-income renters, warranting thoughtful unit positioning and amenity programming. Average school ratings trail national medians, which may influence appeal for family-focused cohorts.
Safety trends warrant attention. The neighborhood ranks below the metro median for crime (among 1,491 Houston-area neighborhoods) and sits in lower national percentiles, indicating higher crime exposure than many U.S. neighborhoods. That said, recent year-over-year data shows property crime easing, with improvement that is competitive among Houston neighborhoods.
Investors should underwrite with standard operating safeguards—lighting, access control, and coordination with local patrols—and monitor evolving trends rather than block-level assumptions. Framing relative to the region and national context helps set expectations for marketing, screening, and retention strategies.
Nearby energy and utilities corporate offices within roughly 5–6 miles provide a sizable employment base that supports commuter demand and retention for workforce housing. The list below highlights key employers proximate to the property.
- Calpine — power generation (5.3 miles) — HQ
- ExxonMobil - Brookhollow Campus — oil & gas offices (5.4 miles)
- NRG Energy — power & energy (5.4 miles)
- Eog Resources — oil & gas (5.4 miles) — HQ
- Targa Resources — midstream energy (5.4 miles) — HQ
Built in 2002 with 94 units averaging roughly 1,189 square feet, 310 Berry Rd is positioned as a competitive, larger-unit offering versus the neighborhood’s older housing stock. Neighborhood occupancy around the high-80s supports income stability, and a meaningful share of renter-occupied housing units provides depth for leasing and renewals. Within a 3-mile radius, household counts have increased and are projected to expand further as household sizes trend smaller—signals that typically translate into a broader renter pool and steadier absorption.
Ownership costs in the area are moderate for Houston, reinforcing sustained reliance on rental housing while still requiring thoughtful positioning against for-sale alternatives. According to CRE market data from WDSuite, daily-needs access is strong (grocery, pharmacy, restaurants), though lifestyle amenities and school ratings are comparatively weaker—factors to consider in marketing and amenity strategy. The property’s newer vintage limits immediate capital needs relative to pre-1980 assets, with selective value-add potential through interior modernization and common-area upgrades.
- 2002 vintage competes well against older neighborhood stock, reducing near-term capex while enabling targeted upgrades.
- Neighborhood occupancy in the high-80s and a sizable renter-occupied share support demand and lease retention.
- 3-mile household growth and shrinking household sizes point to renter pool expansion and absorption support.
- Strong grocery/pharmacy/restaurant access aids livability; limited parks/cafes and below-median school ratings are considerations.
- Risk: Crime metrics rank below metro median; underwrite operational safeguards and tenant screening accordingly.