| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 21st | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3802 Dabney St, Houston, TX, 77026, US |
| Region / Metro | Houston |
| Year of Construction | 1975 |
| Units | 40 |
| Transaction Date | 2022-01-07 |
| Transaction Price | $3,169,900 |
| Buyer | SANMORE PORTFOLIO LLC |
| Seller | BMJ XPLORATION LLC |
3802 Dabney St Houston Multifamily Near Downtown Employers
Renter demand is supported by a high neighborhood share of renter-occupied units and proximity to major employment nodes, according to WDSuite’s CRE market data, suggesting stable leasing potential with disciplined management.
Located in an Inner Suburb of Houston, the neighborhood shows mixed fundamentals for multifamily. Amenity access sits around the above metro median range (ranked 730 among 1,491 Houston neighborhoods), with grocery options roughly on par with the metro but limited cafes and pharmacies nearby. Park access, however, is a relative strength, landing in the 87th percentile nationally, which can enhance livability and retention for residents.
The neighborhood’s housing stock skews older on average (1961), while this asset’s 1975 vintage is newer than the local norm—an advantage versus the oldest stock, though investors should expect some modernization to maintain competitiveness. Neighborhood occupancy trends are softer (ranked 1,105 of 1,491), implying that leasing success may rely on value, finishes, and effective operations.
Tenure patterns indicate depth in the renter pool: 47.5% of housing units are renter-occupied, placing the neighborhood in a higher percentile locally for renter concentration. For investors, that translates to a broad tenant base and potential leasing velocity when pricing is aligned with product quality.
Demographic statistics aggregated within a 3-mile radius show a modest population dip in recent years but a projected increase ahead, alongside a notable rise in household counts and smaller average household sizes. This combination often supports multifamily demand by expanding the number of renting households and can underpin occupancy stability if units are positioned well.
Ownership costs in the immediate area are relatively accessible compared with national norms, which can create some competition with for-sale housing. At the same time, comparatively low rent-to-income levels point to manageable affordability pressure—favorable for renewal rates and lease management—while limiting near-term pricing power without commensurate upgrades.
Safety indicators in this neighborhood trend weaker relative to both the Houston metro and national benchmarks. Crime ranks below the metro median (1,002 out of 1,491 Houston neighborhoods), and national comparisons place the area in lower percentiles for safety. Investors typically account for this with enhanced property security, lighting, and tenant screening to support resident comfort and asset performance.
As with any urban-adjacent location, conditions can vary block to block and over time. Monitoring trend direction and coordinating with local resources are common risk-management practices to sustain leasing and reputation.
Proximity to Houston’s energy and corporate services employers supports a steady renter base and commute convenience for residents. The following nearby firms anchor employment demand in the area.
- Calpine — power generation (4.0 miles) — HQ
- Waste Management — environmental services (4.2 miles) — HQ
- NRG Energy — power & utilities (4.3 miles)
- Kinder Morgan — midstream energy (4.3 miles) — HQ
- Targa Resources — midstream energy (4.3 miles) — HQ
This 40-unit, 1975-vintage asset benefits from a sizable local renter base and proximity to downtown employers, while competing against an older neighborhood stock. Based on CRE market data from WDSuite, the area’s renter-occupied share is elevated, supporting demand depth, and 3-mile projections point to household growth with smaller household sizes—factors that can support occupancy and lease-up when units are well-positioned.
The tradeoff is a softer neighborhood occupancy profile and safety metrics that require active management. Ownership options remain comparatively accessible, which can temper rent growth expectations; however, relatively low rent-to-income levels can aid retention. Renovation or systems modernization can strengthen competitive positioning versus older product and support durable cash flow.
- Renter-demand depth with an above-metro renter concentration supports leasing stability
- 1975 vintage is newer than the neighborhood average, with value-add via modernization
- Commute access to major downtown employers underpins tenancy and retention
- Lower rent-to-income ratios favor renewals, though pricing power may be limited without upgrades
- Risks: below-metro safety and occupancy metrics necessitate security, marketing, and asset management focus