| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 12th | Poor |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4107 Almeda Genoa Rd, Houston, TX, 77048, US |
| Region / Metro | Houston |
| Year of Construction | 1999 |
| Units | 54 |
| Transaction Date | 2006-06-06 |
| Transaction Price | $623,475 |
| Buyer | AMEGY BANK NA |
| Seller | CULLEN MISSIONARY BAPTIST CHURCH SENIOR |
4107 Almeda Genoa Rd, Houston TX Multifamily Opportunity
Neighborhood multifamily occupancy is stable and competitive within the Houston metro, supporting cash flow durability for a 54-unit asset, according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Houston, the neighborhood posts a 95.5% multifamily occupancy rate. That places it competitive among Houston neighborhoods (ranked 499 of 1,491) and in the top quartile nationally, a constructive backdrop for lease-up and renewal strategies. While these metrics are measured for the neighborhood, not this property, they indicate steady renter demand in the immediate area.
Amenity access is mixed. Overall amenity density sits above the metro median (ranked 637 of 1,491), with particularly strong concentrations of cafes and childcare options (both well above national medians), yet local grocery, park, and pharmacy options are limited within the neighborhood boundary. Investors should expect most residents to drive a few miles for daily-needs retail, which can influence marketing and resident services.
Tenure dynamics point to a meaningful renter base. Within a 3-mile radius, an estimated 38% of housing units are renter-occupied, indicating depth for multifamily demand while still leaving room for broader renter pool expansion. Median home values in the immediate neighborhood are on the lower side for the Houston metro, which can create some competition from ownership alternatives; operators may lean on convenience, management quality, and unit finishes to maintain pricing power.
Demographic trends within a 3-mile radius are constructive for long-term demand: population and households have grown in recent years and are projected to expand further, with households expected to rise substantially over the next five years. This suggests a larger tenant base ahead and supports occupancy stability relative to metro and national CRE trends.
Safety indicators for the neighborhood trend below national benchmarks. The neighborhood’s crime profile sits in lower national percentiles for both property and violent offenses, signaling higher relative incident rates than many U.S. neighborhoods. Within the Houston metro, the crime rank is toward the less favorable end of the spectrum (measured against 1,491 neighborhoods).
Investors should underwrite to prudent security and property management practices. Recent estimates also indicate year-over-year increases in both property and violent offense rates; monitoring trajectory and allocating for site-level measures (lighting, access control, coordination with local resources) can help mitigate operating risk.
Proximity to Houston’s energy-oriented corporate base supports blue- and white-collar renter demand and commute convenience, including Occidental, Waste Management, CenterPoint Energy, Plains GP Holdings, and Enterprise Products Partners.
- Occidental — energy corporate offices (9.1 miles)
- Waste Management — corporate offices (9.5 miles) — HQ
- Centerpoint Energy — corporate offices (9.7 miles) — HQ
- Plains GP Holdings — energy corporate offices (9.7 miles) — HQ
- Enterprise Products Partners — energy corporate offices (9.7 miles) — HQ
The investment case centers on durable renter demand supported by neighborhood occupancy in the top quartile nationally and competitive within the Houston metro. Within a 3-mile radius, population and household counts have grown and are projected to expand materially, pointing to a larger tenant base and supporting renewal capture and stabilized occupancy over a multi-year hold. Median home values nearby are comparatively low for the metro, which can increase competition from ownership options; disciplined amenity programming and operations will be important for retention.
Income growth and rising asking rents in the 3-mile area indicate room for measured rent advancement, while the limited daily-needs retail inside the neighborhood boundary suggests operators should emphasize convenience and service to sustain leasing velocity. These dynamics, based on CRE market data from WDSuite, frame a pragmatic value proposition focused on steady cash flow with operational attention on safety and resident experience.
- Neighborhood multifamily occupancy is competitive metro-wide and top quartile nationally, supporting leasing stability.
- 3-mile radius shows population and household growth with further expansion forecast, enlarging the tenant base.
- Nearby corporate employment hubs underpin renter demand and commute convenience.
- Lower neighborhood home values can pressure pricing power; focus on service quality and unit positioning.
- Safety indicators are below national benchmarks; underwrite for security and property management measures.