| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 61st | Good |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 738 Bateswood Dr, Houston, TX, 77079, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 120 |
| Transaction Date | 2016-09-28 |
| Transaction Price | $21,250,000 |
| Buyer | RAAMCO RBBC LLC |
| Seller | RAAMCO TEXAS PROPERTIES LP |
738 Bateswood Dr Houston Multifamily Investment Thesis
Neighborhood renter demand is durable, with occupancy near metro norms and a sizable renter-occupied housing base, according to WDSuite’s CRE market data.
This Inner Suburb location in Houston sits within a neighborhood rated A- and is competitive among Houston neighborhoods (ranked 298 out of 1,491). Day-to-day conveniences are strong: grocery and restaurant density track in the upper national percentiles, supporting resident retention and lease-up. Cafes also over-index, signaling active foot traffic and lifestyle amenities that tend to help multifamily performance.
Schools average around mid-to-high performance for the metro and score in the upper national range (average rating near the 73rd percentile nationwide), a factor that can broaden the tenant profile and support longer stays for family renters. By contrast, limited parks, pharmacies, and childcare within the immediate neighborhood may push some residents to rely on nearby districts for those needs, which is manageable for most suburban Houston renters but worth noting in positioning.
Neighborhood occupancy is roughly in line with metro medians, while the share of renter-occupied housing units is well above national norms (93rd percentile). For investors, that combination points to a deep tenant base and stable leasing fundamentals, especially for well-managed assets that compete on service and upkeep rather than solely on price.
Within a 3-mile radius, demographics indicate a growing renter pool: modest population growth recently with a forecasted step-up over the next five years, alongside a meaningful increase in households and smaller average household sizes. These shifts typically expand the addressable renter base and can help sustain occupancy and rent collections over a full cycle.
Safety trends should be evaluated carefully. The neighborhood’s crime measures benchmark below national safety percentiles (violent and property offense rates are in lower national percentiles, meaning relatively higher reported incidence compared with many U.S. neighborhoods). Recent year-over-year changes also indicate increases in both violent and property offenses at the neighborhood level.
For underwriting, investors commonly account for these dynamics through security planning, resident-screening rigor, and partnership with local law enforcement. Comparing recent trendlines against broader Houston-The Woodlands-Sugar Land metro patterns and property-level incident history can clarify whether issues are transient or persistent.
The property benefits from proximity to a dense cluster of corporate headquarters and offices that support white-collar employment and commute convenience, reinforcing renter demand for well-managed multifamily housing. Nearby employers include ConocoPhillips, Sysco, Phillips 66, Group 1 Automotive, and Wells Fargo Advisors.
- Conocophillips — energy HQ (1.9 miles) — HQ
- Sysco — foodservice distribution HQ (1.9 miles) — HQ
- Phillips 66 — energy HQ (2.8 miles) — HQ
- Group 1 Automotive — auto retail HQ (2.9 miles) — HQ
- Wells Fargo Advisors — financial services (4.1 miles)
Constructed in 1973, the asset is slightly newer than the neighborhood’s average vintage, giving it a competitive position versus older stock while still warranting targeted renovations for systems and interiors to optimize rent and retention. Neighborhood fundamentals point to steady renter demand: renter-occupied housing share is high, occupancy is around metro norms, and the ownership market skews higher-cost, which tends to reinforce reliance on multifamily rentals and supports pricing power when operations are strong.
Within a 3-mile radius, population growth and a projected increase in households signal a larger tenant base ahead. Combined with proximity to multiple corporate headquarters, the location offers a diversified white-collar employment draw. According to CRE market data from WDSuite, amenity access for daily needs is strong, while schools benchmark above many U.S. neighborhoods—both supportive of leasing stability for family and professional renters.
- Deep renter base and occupancy near metro norms support income stability
- 1973 vintage offers value-add upside while remaining competitive versus older nearby stock
- High-cost ownership context supports multifamily demand and lease retention
- Proximity to major corporate HQs underpins professional renter demand
- Risks: below-national safety percentiles and limited nearby parks/pharmacies/childcare warrant proactive management