| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 41st | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3995 Eldridge Pkwy, Houston, TX, 77082, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3995 Eldridge Pkwy Houston Multifamily Investment
Neighborhood occupancy is in the top quartile nationally, supporting stable renter demand near Houston’s Energy Corridor, according to WDSuite’s CRE market data. The submarket’s amenity access and nearby employers further underpin leasing durability for well-positioned assets.
Situated in an Inner Suburb of Houston, the neighborhood posts a B+ rating and top quartile occupancy among 1,491 metro neighborhoods, indicating strong leasing stability at the neighborhood level. Median rents are mid-market with steady five‑year growth, and a rent‑to‑income profile that suggests manageable affordability pressure for residents—factors that can support retention and measured pricing power over time, based on CRE market data from WDSuite.
Amenity access is a relative strength: grocery options rank in the top decile nationally and park access sits in the top quartile, while cafes and restaurants are competitive versus national norms. Pharmacy options are thinner locally, which may modestly reduce convenience for some residents but does not materially detract from daily‑needs coverage given the strong grocery and park density.
Vintage context: the property’s 1984 construction is older than the neighborhood’s average vintage (early 1990s). Investors should plan for targeted capital programs—exteriors, interiors, and building systems—while viewing renovations as a path to capture value‑add upside relative to newer nearby stock.
Tenure and demographics: within a 3‑mile radius, approximately 58% of housing units are renter‑occupied, indicating a deep tenant base for multifamily. While the local population contracted modestly in the prior five years, forecasts point to meaningful household growth and a smaller average household size by 2028—signals that can expand the renter pool and support occupancy stability. Rising household incomes in the same 3‑mile area further reinforce demand for professionally managed rentals.
Ownership landscape: neighborhood home values are comparatively accessible in the Houston context, which can introduce some competition from for‑sale options. Even so, mid‑market rents and a balanced rent‑to‑income ratio suggest sustained reliance on multifamily housing, particularly for residents prioritizing commute convenience and amenity access.
Safety indicators are weaker than national averages. The neighborhood sits below the metro median among 1,491 Houston-area neighborhoods, and national percentiles indicate comparatively higher crime levels. For investors, this typically warrants enhanced property management presence, lighting and access controls, and closer coordination with local resources.
Recent trends are mixed: property offenses show modest year‑over‑year improvement, while violent offenses have risen. The combination implies that proactive on‑site measures and resident‑facing safety investments can be important for retention and reputation management in this location.
Proximity to major energy and services employers supports a stable renter base, with multiple corporate headquarters and offices within a short commute—beneficial for workforce housing and weekday occupancy. The list below reflects nearby anchors most relevant to leasing and retention.
- Sysco — food distribution HQ (3.0 miles) — HQ
- Phillips 66 — energy HQ (4.2 miles) — HQ
- Abm SSC — facility services (4.4 miles)
- National Oilwell Varco — oilfield services HQ (4.5 miles) — HQ
- ConocoPhillips — energy HQ (5.1 miles) — HQ
This 57‑unit, 1984‑vintage asset benefits from neighborhood fundamentals that favor stable operations: top‑quartile occupancy at the neighborhood level, strong grocery and park access, and proximity to multiple corporate headquarters that deepen the weekday renter base. The older vintage positions the property for targeted value‑add—interiors, curb appeal, and efficiency upgrades—to stay competitive against 1990s and 2000s stock.
Within a 3‑mile radius, renter concentration is substantial and household growth is projected to increase by 2028, pointing to a larger tenant base and support for occupancy stability. Mid‑market rents and a balanced rent‑to‑income profile can aid retention, while the nearby employment nodes offer consistent leasing demand. According to CRE market data from WDSuite, neighborhood occupancy outperforms most Houston peers, aligning with an income trendline that supports measured rent advancement rather than aggressive pushes. Principal risks include a weaker safety profile and the ongoing capex needs typical for 1980s construction.
- Neighborhood occupancy in the top quartile among 1,491 metro neighborhoods supports income durability
- 1984 vintage creates clear value‑add pathways via unit and system upgrades
- Deep 3‑mile renter base with forecast household growth expands the tenant pool
- Strong daily‑needs access (grocery/parks) and major nearby employers support retention
- Risks: below‑average safety metrics and ongoing capex for 1980s systems