| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 43rd | Fair |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6415 S Lake Houston Pkwy, Houston, TX, 77049, US |
| Region / Metro | Houston |
| Year of Construction | 1983 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6415 S Lake Houston Pkwy, Houston — Suburban Multifamily Opportunity
Positioned in a suburban Houston corridor with steady renter demand, the neighborhood shows leasing resilience relative to metro peers, according to WDSuites CRE market data.
This suburban pocket of Harris County carries a B neighborhood rating and ranks 689 out of 1,491 Houston-area neighborhoods, placing it above the metro median. For investors, that translates to balanced fundamentals without paying core premiums.
Livability is driven more by residential stability than dense retail. Within the neighborhood boundary, groceries, cafes, and parks are sparse, but restaurant density and pharmacy access are competitive versus national peers (around the upper-third nationally). Average school ratings sit near the upper half nationally as well, supporting family-oriented demand.
Vintage context matters: the neighborhoods average construction year skews to the late 1990s, while this asset was built in 1983. That older vintage can position the property for value-add upgrades and capital planning to improve competitive standing against newer stock.
Tenure patterns show a relatively lower renter concentration locally (roughly one-quarter of housing units are renter-occupied), which often supports stable tenancy but can temper rapid lease-up. However, demographics aggregated within a 3-mile radius point to a growing renter base: population and households have expanded over the past five years and are projected to increase further, implying a larger tenant pool and support for occupancy stability.
Affordability indicators are balanced. Neighborhood median contract rents benchmark in the upper tier nationally, while rent-to-income levels remain manageable, suggesting room for disciplined revenue management. Median home values are moderate for Houston, which can create some competition from ownership but also encourages renters seeking more accessible options in the area.
Safety trends compare less favorably than many neighborhoods nationwide at present, and the area sits below the top half of national safety percentiles. Within the Houston metro, its crime ranking places it near the middle of the pack among 1,491 neighborhoods. Recent year-over-year trends show declines in both property and violent offense estimates, indicating gradual improvement rather than a step-change shift.
For underwriting, this suggests prudent security and community-management measures remain relevant, while the improving trajectory can help support retention and leasing consistency if maintained.
Proximity to a concentration of energy and infrastructure corporate offices supports workforce housing demand and commute convenience. Nearby anchors include Calpine, Waste Management, NRG Energy, Kinder Morgan, and Targa Resources.
- Calpine 2 energy (10.2 miles) 2 HQ
- Waste Management 2 environmental services (10.3 miles) 2 HQ
- NRG Energy 2 energy (10.4 miles)
- Kinder Morgan 2 midstream energy (10.4 miles) 2 HQ
- Targa Resources 2 midstream energy (10.5 miles) 2 HQ
This 84-unit, 1983-vintage asset in suburban Houston offers a practical value-add path: older construction relative to the late-1990s neighborhood average suggests targeted renovations and systems updates can enhance competitive positioning. Larger-than-typical average unit sizes support family-oriented demand, and neighborhood occupancy trends indicate steady leasing, with contract rents benchmarking well nationally yet rent-to-income levels remaining workable for disciplined growth.
Demand fundamentals are underpinned by a growing 3-mile population and rising household counts, which point to a larger tenant base and support for occupancy stability. While the immediate neighborhood has lighter retail and park density, proximity to major energy and infrastructure employers broadens the renter catchment. According to CRE market data from WDSuite, the areas recent safety metrics are improving year over year, warranting sensible risk controls but not precluding durable operations.
- 1983 vintage positions the asset for value-add renovations and capital planning against late-1990s neighborhood stock.
- Larger average unit sizes align with family demand and can aid retention.
- Expanding 3-mile renter pool supports leasing stability and pricing discipline.
- Access to nearby energy and infrastructure employers underpins weekday occupancy and renewal potential.
- Key risks: lighter neighborhood amenities and safety metrics that trail national leaders, mitigated by recent improvement and focused property management.