| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 18th | Poor |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 427 Hollyvale Dr, Houston, TX, 77060, US |
| Region / Metro | Houston |
| Year of Construction | 1972 |
| Units | 77 |
| Transaction Date | 2011-12-16 |
| Transaction Price | $600,200 |
| Buyer | ALLIS GOOD LLC |
| Seller | HOLLYVALE HOMES LLC |
427 Hollyvale Dr, Houston TX Multifamily Value-Add
Positioned in an inner-suburban pocket with a large renter base and steady grocery access, this asset offers operational upside amid older housing stock; according to WDSuite’s CRE market data, neighborhood rents have risen in recent years while renter concentration within three miles remains elevated.
Livability reflects an inner-suburb location with everyday conveniences more than lifestyle retail. Grocery access is comparatively strong versus many Houston areas, but cafes, restaurants, parks, and pharmacies are sparse, which favors workforce housing over premium amenity-driven positioning. Average school ratings sit above the national midpoint, supporting family-oriented tenant demand without commanding top-tier pricing.
From a housing perspective, neighborhood occupancy is near the national middle, suggesting neither tight shortages nor pronounced slack. Within a 3-mile radius, an estimated majority of housing units are renter-occupied, indicating a deep tenant pool that can support leasing velocity and renewal stability for well-managed properties. Median contract rents in the surrounding area have increased over the last five years, reinforcing the case for disciplined rent growth tied to unit quality.
Demographically within 3 miles, population grew over the last five years while household counts increased faster, expanding the renter pool. Forward-looking data indicate household growth may continue even if population trends soften, implying smaller average household sizes and a broader base of prospective renters — a dynamic that can support occupancy stability for efficiently sized units. Income levels are rising from a low base, which supports gradual rent steps; however, rent-to-income ratios in the immediate neighborhood point to affordability pressure, so renewal management and value-for-money upgrades are prudent.
Asset vintage matters: the property’s 1972 construction is older than the local average (mid-1980s), highlighting potential capital planning needs. For experienced operators, this can translate into a value-add path — system upgrades and targeted interior rehabs that reposition toward durable, workforce-oriented demand while staying competitive against newer product.
Safety indicators for the neighborhood sit below the national median, while the area ranks in the better half of Houston’s 1,491 neighborhoods. Recent trends are mixed: estimated property crime eased year over year, but estimated violent incidents increased, underscoring the importance of on-site security practices, lighting, and resident screening. For investors, underwriting should reflect these dynamics and emphasize asset-level controls rather than relying on block-level assumptions.
The property sits within commuting distance of major energy and industrial employers that underpin steady workforce housing demand. Nearby anchors include Halliburton, ExxonMobil’s Brookhollow presence, CenterPoint Energy, Enterprise Products, and Emerson Process Management.
- Halliburton — energy services (3.4 miles) — HQ
- ExxonMobil - Brookhollow Campus — energy (8.2 miles)
- Centerpoint Energy — utilities (9.1 miles)
- Enterprise Products — midstream energy (9.8 miles)
- Emerson Process Management — industrial automation (10.0 miles)
This 77-unit asset offers a classic workforce housing play in an inner-suburban Houston location. The 1972 vintage is older than the neighborhood average, creating clear value-add levers through system modernization and targeted interior enhancements. A predominantly renter-occupied 3-mile radius and rising household counts expand the prospective tenant base, while neighborhood occupancy near the national middle suggests achievable stabilization with focused operations. According to CRE market data from WDSuite, local rent levels have trended upward, supporting a renovation-driven pricing strategy calibrated to affordability.
Proximity to major energy and industrial employers supports everyday renter demand and retention. At the same time, amenity scarcity and measured safety performance mean the business plan should emphasize durable unit finishes, curb appeal, lighting, and cost control to sustain leasing and renewals without over-reliance on lifestyle features.
- Value-add potential from 1972 vintage via systems and interior upgrades
- Large renter base within 3 miles supports leasing velocity and renewals
- Employer proximity (energy, utilities, industrial) underpins steady workforce demand
- Neighborhood occupancy near national midpoint enables achievable stabilization with strong management
- Risks: affordability pressure, amenity-light submarket, and mixed safety trends require conservative underwriting