| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 48th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 Cypress Station Dr, Houston, TX, 77090, US |
| Region / Metro | Houston |
| Year of Construction | 1982 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
601 Cypress Station Dr Houston Multifamily Value-Add
Neighborhood renter-occupied share is high and amenities are dense, pointing to a broad tenant base even as local occupancy has softened compared with metro trends, according to WDSuite’s CRE market data.
601 Cypress Station Dr sits in an Inner Suburb pocket that is competitive among Houston neighborhoods (ranked 566 of 1,491) with strong daily convenience: cafés, groceries, and restaurants cluster at top-decile national densities. This amenity access supports leasing velocity and day-to-day livability for workforce renters.
The neighborhood s renter-occupied share is elevated at 77.6%, indicating deep demand for apartments and a larger pool of prospective tenants. By contrast, within a 3-mile radius, tenure is more balanced today and is projected to tilt toward ownership over the next five years; however, forecast growth in population and households within that radius expands the overall renter pool, which can support occupancy stability for well-positioned assets.
Multifamily occupancy in the neighborhood trails national norms (bottom quintile nationally) and has eased over the last five years, which places a premium on product quality, finishes, and management to capture demand. Neighborhood median asking rents trend around the national mid-60s percentile, signaling pricing that is competitive but requires careful lease management given income profiles.
Construction in the area skews newer on average (2000), while this property s 1982 vintage suggests potential value-add through targeted renovations and systems upgrades to compete against younger stock. Household incomes at the neighborhood level are lower than national medians, and rent-to-income ratios indicate affordability pressure; investors should emphasize unit mix, concessions strategy, and retention programs to sustain collections while positioning for demand supported by nearby employment nodes and services.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area sits below the national median for safety (overall crime around the 34th percentile), placing it weaker than average nationally. Within the Houston metro, its crime rank is mid-pack (664 of 1,491), indicating conditions that are not among the metro s most challenged but warrant routine risk management.
Property offenses compare unfavorably to national norms (around the 12th percentile for safety), yet recent trend data shows a meaningful year-over-year improvement in estimated property crime levels. Violent offense measures remain weaker than national averages (around the 10th percentile for safety). Investors should underwrite standard security measures, lighting, and tenant screening while noting the improving property-crime trend.
Nearby energy, healthcare distribution, and technology employers underpin workforce housing demand and commuting convenience for renters. The list below highlights key nodes likely to influence leasing and retention: CenterPoint Energy, Halliburton, McKesson Specialty Health, Anadarko Petroleum, and Hewlett Packard Enterprise Customer Engagement Center.
- Centerpoint Energy — energy utility (8.4 miles)
- Halliburton — oilfield services (8.8 miles) — HQ
- McKesson Specialty Health — healthcare distribution (8.8 miles)
- Anadarko Petroleum — energy exploration (9.0 miles) — HQ
- Hewlett Packard Enterprise Customer Engagement Center — enterprise technology/customer engagement (9.3 miles)
The 1982-vintage, 34-unit asset offers clear value-add potential relative to a neighborhood where the average construction year is 2000. Upgrades to interiors and building systems can improve competitive positioning against newer stock while leveraging high renter concentration and top-decile amenity density to support absorption. According to CRE market data from WDSuite, neighborhood occupancy sits below metro and national benchmarks, so execution around pricing, marketing, and unit renovations will be central to capturing demand from the sizable renter base.
Within a 3-mile radius, recent and projected growth in population and households expands the tenant base, even as the broader area is expected to tilt somewhat toward ownership. Income levels and rent-to-income ratios signal affordability pressure, which argues for disciplined lease management and emphasis on retention. Proximity to major employers in energy, healthcare distribution, and technology further supports day-to-day leasing fundamentals.
- Value-add upside: 1982 vintage versus newer neighborhood stock creates renovation and repositioning opportunities.
- Deep renter base: high neighborhood renter-occupied share supports leasing velocity and occupancy stability.
- Amenity-rich context: top-decile national density of cafés, groceries, and restaurants enhances livability and retention.
- Employment access: nearby energy, healthcare, and tech employers reinforce workforce housing demand.
- Key risks: softer neighborhood occupancy, affordability pressure, and below-median national safety metrics require active management.