| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 45th | Fair |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5310 Lost Forest Dr, Houston, TX, 77092, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 114 |
| Transaction Date | 2023-10-24 |
| Transaction Price | $8,645,755 |
| Buyer | PINE ARBOR EQUITY PARTNERS LLC |
| Seller | FIVE ARROW PINE ARBOR LP |
5310 Lost Forest Dr Houston Value-Add Multifamily
High renter concentration in the immediate neighborhood supports a durable tenant base, while occupancy trends sit around the middle of national peers, according to WDSuite’s CRE market data. This positioning favors pragmatic rent and retention strategies over aggressive lease-up assumptions.
Located in an inner-suburb pocket of Houston, the area blends workforce housing with proximity to city job nodes. Neighborhood restaurant density is comparatively strong (competitive nationally), but other daily amenities like grocery, parks, and pharmacies are thinner within the neighborhood cluster; residents often rely on nearby commercial corridors for these needs. These dynamics typically suit value-oriented multifamily where convenience is driven more by arterial access than walkable retail.
Occupancy for the neighborhood is roughly mid-pack nationally, indicating stable but competitive leasing conditions rather than tight supply. Median contract rents track near the national middle as well, which supports steady absorption without requiring outsized concessions to maintain velocity.
Renter-occupied housing is a large share of neighborhood units, signaling depth in the tenant pool and reinforcing demand for multifamily product. For investors, a higher renter concentration tends to underpin occupancy stability and renewals when paired with property-level execution and service quality.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to grow further, pointing to a larger tenant base over the medium term. Household incomes have risen and are forecast to continue increasing, while rent levels in the radius are also expected to trend upward—factors that support long-run revenue management and leasing performance based on commercial real estate analysis from WDSuite.
Home values in the neighborhood are comparatively low in the national context. While this can introduce some competition from ownership options, it also aligns with workforce renter demand profiles; operators should emphasize value, maintenance responsiveness, and community standards to sustain pricing power and retention.
Safety indicators for the neighborhood trend weaker than both metro and national benchmarks, placing the area in a lower national percentile for safety and in the lower tier among 1,491 Houston metro neighborhoods. Recent year-over-year estimates also indicate increases in both property and violent offense rates.
Investors commonly address this profile through property-level measures—lighting, access controls, and partnerships with local authorities—and by underwriting appropriate insurance and security line items. Positioning a well-managed asset with visible standards can help mitigate risk and support resident retention despite broader area trends.
Nearby employment is anchored by energy, industrial automation, and financial services offices within an 8-mile radius, supporting commute convenience for workforce renters and aiding leasing stability at the asset. The list below reflects the closest concentrations relevant to resident employment.
- ExxonMobil - Brookhollow Campus — energy offices (2.6 miles)
- Emerson Process Management — industrial automation (4.6 miles)
- Wells Fargo Advisors — financial services (4.8 miles)
- Group 1 Automotive — auto retail corporate (5.9 miles) — HQ
- Prudential — financial services (6.0 miles)
This 114-unit asset built in 1973 offers a value-add path in a neighborhood with a deep renter base and mid-range occupancy relative to national peers. The vintage suggests targeted capital planning—interiors, building systems, and common areas—to elevate competitiveness against both older local stock and newer comparables while supporting rent optimization.
Within a 3-mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base and steady leasing over the next cycle. Median rents in the radius are expected to rise alongside incomes, which, based on CRE market data from WDSuite, supports an underwriting stance focused on consistent occupancy and measured rent growth rather than outsized assumptions.
- High renter concentration locally supports depth of demand and renewal potential.
- 1973 vintage presents clear value-add and systems-upgrade opportunities to drive NOI.
- 3-mile radius shows past and projected growth in households, aiding occupancy stability.
- Neighborhood rents sit near national middle, enabling steady absorption with pragmatic pricing.
- Risks: weaker area safety metrics and thinner neighborhood amenities require vigilant operations, security planning, and disciplined underwriting.