| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 39th | Fair |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4503 Werner St, Houston, TX, 77022, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 2022-06-29 |
| Transaction Price | $3,501,225 |
| Buyer | ROVI VENTURES I LLC |
| Seller | MONTERREY VISTA APARTMENTS LLC |
4503 Werner St Houston Multifamily Investment
Stabilization and value-add potential supported by a moderate renter base and projected household growth within a 3-mile radius, according to WDSuite’s CRE market data. Neighborhood parks access is a relative strength, while limited retail amenities point to a workforce housing profile.
The property sits in an Inner Suburb pocket of Houston where neighborhood-level rents track around the middle of national markets and occupancy runs below the metro median, per commercial real estate analysis from WDSuite. Parks density ranks in the top quartile nationally (42 of 1,491 metro neighborhoods), a livability plus, while day-to-day retail like groceries, cafes, and pharmacies is sparse at the neighborhood scale. That mix supports a workforce housing narrative more than a lifestyle-renter story.
Built in 1973, the asset is older than newer deliveries but newer than the neighborhood’s average vintage (1962). Investors should underwrite capital planning for building systems and common-area refreshes; in return, renovations can sharpen competitiveness against older local stock and support leasing velocity.
Unit tenure data indicates a moderate renter-occupied share at the neighborhood level, which helps underpin demand depth for smaller-unit product. Within a 3-mile radius, population has been stable with forecasts calling for further population growth and a notable increase in household counts alongside smaller average household sizes. For investors, this points to a larger renter pool over the next cycle and support for occupancy stability if pricing stays aligned with neighborhood incomes.
Home values in the neighborhood are lower relative to national markets, which can make ownership comparatively more accessible. That dynamic can introduce competition with entry-level ownership, but it also supports renter retention when well-managed properties offer convenience and predictable monthly costs. Average school ratings in the area sit below national norms, which may tilt the tenant base toward singles and small households rather than families seeking top-rated schools.
Safety indicators for the neighborhood track below both metro and national benchmarks, according to WDSuite’s data. The neighborhood’s crime profile ranks in the lower-performing cohort among 1,491 Houston-area neighborhoods, placing it below the metro median and well below top-quartile national comparisons. Recent estimates also reflect year-over-year increases in both violent and property offenses at the neighborhood level.
For investors, underwriting should account for enhanced property-level security, lighting, and access controls, as these measures can support tenant retention and leasing performance even when neighborhood safety trends are weaker than regional averages.
Nearby corporate offices in energy and utilities provide a broad employment base that supports renter demand and commute convenience for workforce tenants. Key employers within roughly 3–5 miles include ExxonMobil, Baker Hughes, Calpine, EOG Resources, and NRG Energy.
- ExxonMobil - Brookhollow Campus — energy operations (3.7 miles)
- Baker Hughes — energy services (4.8 miles) — HQ
- Calpine — independent power (5.2 miles) — HQ
- Eog Resources — E&P (5.2 miles) — HQ
- NRG Energy — utilities & retail power (5.2 miles)
This 28-unit, 1973-vintage asset offers a practical value-add path in an Inner Suburb setting where renter-occupied housing is meaningful and parks access is a relative advantage. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median, so returns will hinge on hands-on operations, targeted renovations, and security upgrades that differentiate the asset against older comparables.
Within a 3-mile radius, forecasts indicate population growth and a sharp increase in household counts alongside smaller household sizes, expanding the local renter pool over time. Neighborhood-level home values are comparatively low, which can create some competition from ownership; however, well-priced, upgraded units can maintain leasing traction by emphasizing convenience, predictability, and proximity to major energy and utilities employers.
- Value-add upside: 1973 vintage with scope for unit and systems upgrades to enhance competitiveness
- Demand support: growing households within 3 miles point to a larger renter pool and occupancy stability potential
- Employment access: proximity to energy and utilities offices supports workforce renter demand
- Pricing strategy: middle-of-market rents can balance retention and income growth versus neighborhood incomes
- Risks: below-metro safety metrics, amenity gaps, and competition from ownership require active management and security investments