| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 36th | Fair |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 Normandy St, Houston, TX, 77015, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | $5,250,000 |
| Buyer | JMA Texas Properties and 37th Parallel Properties Investment |
| Seller | Rising Sun Investors |
405 Normandy St, Houston multifamily investment opportunity
Renter-occupied share is competitive among Houston neighborhoods, supporting demand stability and lease-up resilience, according to WDSuite’s CRE market data.
This Inner Suburb location balances everyday convenience with value-oriented renter appeal. Neighborhood rents sit near the national midrange, and occupancy trends are around the metro median based on WDSuite’s CRE market data. Grocery access is a relative strength (high national percentile), while cafes, parks, and pharmacies are limited, so day-to-day needs are well covered but lifestyle amenities are thinner.
Schools in the area average roughly middle-of-the-pack nationally and are competitive among Houston neighborhoods, which can aid marketing to households without commanding premium rents. Restaurant density is also competitive locally and above the national median, helping support livability despite the thinner cafe and park footprint.
Tenure patterns indicate a deep renter base: the neighborhood’s share of renter-occupied housing ranks competitive among the 1,491 Houston metro neighborhoods and sits in a high national percentile. Within a 3-mile radius, demographics show modest population growth recently, with households increasing and projected to expand further as average household size trends lower—implications that point to a larger tenant base and support for occupancy stability.
Home values are near the national midpoint, but the value-to-income ratio sits in a higher national percentile for ownership costs. For investors, that tends to reinforce reliance on multifamily housing, while the neighborhood’s rent-to-income ratio sits in a lower national percentile—helping pricing power without overextending residents and supporting lease retention.
Safety indicators for the neighborhood trail national medians, and the local rank sits closer to the lower half among the 1,491 Houston metro neighborhoods. Nationally, the area falls in lower safety percentiles, signaling above-average crime relative to the U.S. overall.
Recent trends are mixed: property offense rates show slight year-over-year improvement, while violent offense metrics point to deterioration. For underwriting, investors typically account for security measures and prudent loss assumptions while weighing these dynamics alongside workforce access and rent positioning.
Proximity to Downtown Houston’s energy and utilities employers supports a sizable commuter tenant base and can aid lease retention. Key nearby corporate offices include Calpine, Waste Management, Kinder Morgan, NRG Energy, CenterPoint Energy, and Targa Resources.
- Calpine — power generation (10.0 miles) — HQ
- Waste Management — environmental services (10.1 miles) — HQ
- Kinder Morgan — midstream energy (10.2 miles) — HQ
- NRG Energy — power & retail energy (10.2 miles)
- Centerpoint Energy — utilities (10.3 miles) — HQ
The property’s Inner Suburb positioning offers access to Houston’s core job base while appealing to cost-conscious renters. Neighborhood data indicate a competitive renter-occupied share and midrange rents, which, together with solid grocery access, support demand depth and day-to-day livability. According to commercial real estate analysis from WDSuite, occupancy performance sits around the metro midpoint, aligning with steady—if unspectacular—leasing conditions that can be bolstered by proactive operations.
Within a 3-mile radius, households have been increasing and are projected to expand further as average household size moderates, pointing to a larger tenant pool over time. Ownership costs trend elevated relative to incomes in national terms, reinforcing reliance on multifamily rentals, while rent-to-income levels remain comparatively manageable—helpful for retention and measured rent growth. Key underwriting considerations include amenity scarcity beyond essentials and below-median safety readings, which may require targeted capital for security and resident experience.
- Competitive renter concentration supports a deep tenant base and steadier occupancy
- Midrange rent positioning with relatively manageable rent-to-income aids retention
- Strong grocery access and proximity to major employers underpin leasing
- Household growth within 3 miles and smaller household sizes expand the renter pool
- Risks: thinner lifestyle amenities and below-median safety may require security and resident-experience investments