| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 19th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7245 Scott St, Houston, TX, 77021, US |
| Region / Metro | Houston |
| Year of Construction | 2002 |
| Units | 96 |
| Transaction Date | 2021-01-01 |
| Transaction Price | $7,025,000 |
| Buyer | IVEYWOOD PARK INVESTORS LLC |
| Seller | SCOTT STREET LIMITED PARTNERSHIP |
7245 Scott St, Houston Multifamily Investment
2002 vintage with a deep local renter base suggests durable demand, according to WDSuite’s CRE market data, with neighborhood occupancy trends showing steady performance relative to comparable Inner Suburb locations.
Positioned in an Inner Suburb of Houston, the property benefits from everyday conveniences that support renter retention. Neighborhood-level metrics indicate strong access to groceries and dining compared with many parts of the metro (grocery presence and restaurants rank well nationally), while parks and cafes are limited. Average school ratings in the neighborhood trend low, which investors may factor into leasing expectations for family-oriented unit mixes. These observations describe the neighborhood, not the property.
Renter concentration at the neighborhood level is above the metro median (53.5% of housing units are renter-occupied), indicating a broad tenant pool and potential leasing depth. Neighborhood occupancy has been generally stable, supporting baseline cash-flow reliability for comparable assets. The property’s 2002 construction is newer than the neighborhood’s older housing stock (average year built 1967), which can enhance competitive positioning versus legacy assets, though aging systems should still be reviewed for modernization opportunities.
Within a 3-mile radius, demographics point to a larger tenant base and ongoing household formation: households increased over the past five years and are expected to expand further by the next five-year horizon, even as average household size trends smaller. This combination typically supports absorption of smaller floor plans and sustained occupancy for workforce-oriented apartments. Median contract rents in the 3-mile area have risen and are forecast to continue growing, suggesting potential for revenue management if unit quality and amenity offerings are competitive.
Ownership costs in the neighborhood context are relatively elevated versus local incomes (higher value-to-income ratio nationally), which tends to reinforce reliance on rental housing and can support pricing power. At the same time, rent-to-income ratios in the neighborhood are on the higher side relative to national peers, implying some affordability pressure that warrants active lease management and renewal strategies.
Safety indicators for the neighborhood rank in the lower tier among 1,491 Houston-area neighborhoods and sit in a low national percentile compared to neighborhoods nationwide. This suggests investors should underwrite prudent security measures and consider how professional management, lighting, and access controls can support resident comfort and retention. These references are neighborhood-level context, not a statement about conditions at the property.
A cluster of energy and infrastructure headquarters within roughly five miles supports a steady employment base and commute convenience for renters. The nearby presence of Waste Management, CenterPoint Energy, Plains GP Holdings, Enterprise Products Partners, and Kinder Morgan may help underpin leasing and renewal stability.
- Waste Management — waste & environmental services (4.9 miles) — HQ
- Centerpoint Energy — utilities (5.0 miles) — HQ
- Plains GP Holdings — midstream energy (5.0 miles) — HQ
- Enterprise Products Partners — midstream energy (5.1 miles) — HQ
- Kinder Morgan — pipelines & terminals (5.1 miles) — HQ
Built in 2002, this 96-unit asset offers a newer vintage relative to the neighborhood’s older housing stock, which can translate into competitive positioning on maintenance and curb appeal versus legacy properties, while still leaving room for targeted upgrades that drive rent trade-outs. The surrounding neighborhood shows stable occupancy and an above-median share of renter-occupied housing units, pointing to a sizable tenant base. Nearby headquarters across energy and infrastructure industries add employment diversity within a short commute. Based on CRE market data from WDSuite, rent levels in the broader 3-mile area have risen and are projected to continue climbing, supporting a case for disciplined revenue management when paired with unit and common-area improvements.
Investor considerations include neighborhood safety that trails metro peers and higher rent-to-income ratios at the neighborhood level, which call for thoughtful screening, on-site security, and renewal strategies that prioritize retention. Even as ownership costs remain relatively high versus incomes locally, underwriting should account for affordability pressure and competitive move-in pricing to protect occupancy.
- Newer 2002 vintage versus local stock offers competitive positioning and value-add upgrade potential
- Above-median neighborhood renter concentration supports leasing depth and occupancy stability
- Proximity to multiple energy-sector headquarters within ~5 miles reinforces demand from commuters
- Area rent growth trends, per WDSuite data, support disciplined revenue management when paired with improvements
- Risks: neighborhood safety below metro norms and elevated rent-to-income ratios require security planning and careful renewal strategy