| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 31st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7310 Sherman St, Houston, TX, 77011, US |
| Region / Metro | Houston |
| Year of Construction | 1996 |
| Units | 84 |
| Transaction Date | 2021-08-20 |
| Transaction Price | $8,287,500 |
| Buyer | PLAZA DE MAGNOLIA LLC |
| Seller | IBIZA PLAZA DE MAGNOLIA LTD |
7310 Sherman St Houston Multifamily Investment
Neighborhood occupancy has improved in recent years while renter demand remains durable for workforce units, according to WDSuite’s CRE market data. Investors should view this location as a pragmatic, rent-driven play with operational focus over heavy amenity premiums.
This Inner Suburb pocket of Houston shows mixed but serviceable fundamentals for multifamily. Neighborhood-level occupancy is below national norms but has trended upward over the past five years, indicating stabilizing demand at attainable price points. The property’s 1996 vintage is newer than the neighborhood’s typical 1940s housing stock, which can provide a competitive edge versus older assets while still requiring targeted system updates and common-area refreshes over a hold period.
Daily-needs access is a relative strength: grocery and pharmacy density ranks in the upper tier locally and tests well nationally, while restaurants are competitive among Houston neighborhoods (rank positions indicate stronger concentration versus many peers across the metro’s 1,491 neighborhoods). By contrast, parks, cafes, and childcare are sparse, so the resident value proposition leans more on price, commute convenience, and unit functionality than on lifestyle amenities.
Renter-occupied share at the neighborhood level sits near the midpoint, while within a 3-mile radius renters comprise a modest majority of housing units. That mix supports a broad tenant base and consistent leasing velocity for smaller floor plans. With a 3-mile view, recent population contracted but households increased, pointing to smaller average household sizes and a larger count of renting households—conditions that can support occupancy stability for efficiently sized units.
Ownership remains a high-cost path relative to local incomes (national value-to-income positioning is in the upper tiers), which tends to sustain reliance on rentals and helps pricing power for well-managed assets. At the same time, rent-to-income metrics signal some affordability pressure in the neighborhood, suggesting attention to renewal management and unit-turn scopes will matter, a point underscored by commercial real estate analysis from WDSuite.
Safety indicators for this neighborhood trail both national benchmarks and the metro median. Using Houston’s 1,491-neighborhood framework, crime rankings place the area below the metro median, and national percentiles indicate it performs in a lower band compared with neighborhoods nationwide.
For investors, this typically translates to heightened emphasis on lighting, access control, active property management, and resident engagement to support retention and leasing. Monitor trend direction as well as block-to-block variability, and underwrite modestly for security-related operating expenses where appropriate.
Proximity to Downtown Houston’s energy and utilities corporate cluster supports a steady commuter tenant pool and helps lease retention for workforce housing. The following nearby employers anchor white-collar demand within a short drive:
- Waste Management — environmental services (4.4 miles) — HQ
- Calpine — power generation (4.6 miles) — HQ
- Kinder Morgan — midstream energy (4.7 miles) — HQ
- Centerpoint Energy — utilities (4.7 miles) — HQ
- NRG Energy — power & retail electricity (4.7 miles)
7310 Sherman St is an 84-unit, 1996-vintage asset positioned in a working-class Houston neighborhood where rent-driven demand and commute convenience are the primary leasing drivers. The building’s newer vintage relative to nearby 1940s stock can enhance competitiveness with thoughtful upgrades to interiors and building systems. Within a 3-mile radius, households have increased even as population declined, implying smaller household sizes and a broader renter pool—factors that can support occupancy stability and consistent renewal velocity for compact units. According to CRE market data from WDSuite, neighborhood occupancy has improved over time even if it remains below national norms, reinforcing a pragmatic value-add and operations-forward thesis.
Counterpoints to underwrite include below-median safety readings, limited lifestyle amenities like parks and cafes, and rent-to-income pressure that argues for disciplined pricing and retention strategies. Still, access to a dense cluster of nearby corporate employers and solid daily-needs retail helps backstop demand for well-managed, right-priced units.
- 1996 vintage offers an edge versus older neighborhood stock, with targeted capex and modernization potential
- Household growth within 3 miles expands the renter base despite population contraction, supporting occupancy
- Strong proximity to downtown energy/utilities employers underpins leasing and retention
- Daily-needs access (grocery/pharmacy) is a relative strength even as parks and cafes are limited
- Risks: below-median safety metrics and affordability pressure require active management and disciplined pricing