| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 73rd | Best |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3411 Walnut Bend Ln, Houston, TX, 77042, US |
| Region / Metro | Houston |
| Year of Construction | 1999 |
| Units | 80 |
| Transaction Date | 2020-12-29 |
| Transaction Price | $14,625,000 |
| Buyer | WGA LEGACY PROPERTIES 4 LLC |
| Seller | BRADFORD MANAGEMENT OF NEW YORK INC |
3411 Walnut Bend Ln Houston Multifamily Opportunity
Neighborhood occupancy is competitive among Houston submarkets with solid renter demand, according to WDSuite’s CRE market data, supporting income stability for a well-positioned 1999 asset. Rents in the area trend above national norms, suggesting pricing power if operations and finishes are kept market-relevant.
Located in Houston’s inner suburban fabric, the property benefits from a renter-driven neighborhood profile and steady occupancy performance. Neighborhood occupancy is in the upper tier nationally and competitive among the 1,491 Houston metro neighborhoods, signaling depth of tenant demand rather than transient lease-up dynamics.
Renter-occupied housing constitutes the clear majority of units in the neighborhood, indicating a high renter concentration and a broad tenant base for multifamily operators. For investors, this points to demand resiliency and consistent leasing velocity, with the caveat that professional management and retention programs remain important to sustain performance.
Within a 3-mile radius, households have expanded in recent years and are projected to grow further by 2028, even as average household size trends down. This combination typically enlarges the renter pool and supports occupancy stability. Income measures in the 3-mile radius have also improved over time, which can underpin rent collections and reduce turnover sensitivity.
Local convenience is serviceable: restaurants index well above national norms while grocery access is strong for the metro, though parks, cafes, and pharmacies are comparatively sparse within the immediate neighborhood. For underwriting, that mix supports everyday needs and commute convenience, while on-site amenities can help offset the lighter park and cafe density.
Neighborhood home values sit above the national median, creating a relatively high-cost ownership market for the area. For multifamily investors, this tends to sustain rental demand and can support lease retention, while still requiring attention to rent-to-income thresholds to manage affordability pressure and renewal risk.
Built in 1999, the asset is newer than the neighborhood’s average vintage from the mid-1980s, offering a competitive edge versus older stock. That said, system and interior updates may be prudent to maintain positioning against newer deliveries and to capture value-add potential.
Relative to national benchmarks, the neighborhood’s safety metrics trend below the median, and conditions are also weaker than many Houston neighborhoods. For multifamily operations, this typically argues for visible property-level security measures, lighting, and resident communication to support leasing and retention.
Investors often underwrite slightly higher operating line items for security and loss prevention in similar contexts, then monitor trend direction at the neighborhood level rather than block-by-block readings. Using comparative data helps frame risk alongside the area’s strong renter demand and occupancy profile.
Proximity to major corporate offices supports a large commuter tenant base and can aid retention through commute convenience. Key nearby employers include Phillips 66, ABM SSC, National Oilwell Varco, Group 1 Automotive, and Sysco.
- Phillips 66 — energy (1.1 miles) — HQ
- Abm SSC — corporate services (2.4 miles)
- National Oilwell Varco — energy equipment (2.5 miles) — HQ
- Group 1 Automotive — auto retail (3.8 miles) — HQ
- Sysco — food distribution (3.9 miles) — HQ
The investment case centers on durable renter demand, competitive neighborhood occupancy, and proximity to major employment nodes. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood’s occupancy outperforms national norms and is competitive within the Houston metro, supporting income stability. Elevated ownership costs in the area help sustain reliance on rental housing, while 3-mile demographics point to household growth and a larger tenant base.
Constructed in 1999, the property is advantaged versus older local stock, with potential to capture value through targeted renovations and systems modernization. Amenity access is strongest for restaurants and groceries, suggesting on-site features and security best practices can further support leasing, renewals, and pricing.
- Competitive neighborhood occupancy supports income durability, per WDSuite’s CRE market data.
- High renter concentration indicates a deep tenant base and steady leasing velocity.
- 1999 vintage offers a relative edge over older stock with value-add and modernization upside.
- 3-mile household growth and rising incomes expand the renter pool and support retention.
- Risk: below-median safety metrics and limited park/cafe density warrant security focus and on-site amenity strategy.