| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 27th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7615 Grahamcrest Dr, Houston, TX, 77061, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 2014-11-21 |
| Transaction Price | $1,093,800 |
| Buyer | F&S GRAHMCREST LLC |
| Seller | 7615 GRAHAMEREST LLC |
7615 Grahamcrest Dr Houston Multifamily Investment
Neighborhood renter demand is supported by a high renter-occupied share and everyday retail access, according to WDSuite’s CRE market data, positioning this 30‑unit asset for steady leasing in an inner‑suburban Houston location.
This inner‑suburban pocket of Houston balances workforce housing with everyday convenience. Grocery access is strong (competitive among Houston neighborhoods; rank 441 out of 1,491 for overall amenities), while restaurants are plentiful. In contrast, cafes, parks, and pharmacies are sparse locally, which may modestly affect lifestyle appeal but typically has limited impact on workforce renter demand.
The neighborhood’s renter-occupied share is elevated (56.8% of housing units), indicating a deep tenant base and supporting multifamily demand. Neighborhood occupancy is below the metro median, so proactive leasing and management discipline remain important to sustain stability versus stronger submarkets.
Within a 3‑mile radius, households have risen even as population edged down, pointing to smaller household sizes and a broader pool of individual renters entering the market. Median home values sit in a high‑cost ownership context relative to local incomes (value‑to‑income above national midline), which reinforces reliance on rental housing and supports lease retention for well‑positioned multifamily assets.
School ratings in the area trend below national norms, and the neighborhood’s overall rating is C+ with performance above the metro median in amenities but mixed on demographics and housing indicators. For investors, the combination of solid everyday retail, strong renter concentration, and inner‑suburban connectivity underpins demand, though pricing power may be more range‑bound than in top‑quartile Houston submarkets.
Safety indicators trail both metro and national benchmarks. The neighborhood’s crime rank sits in the lower half of Houston’s 1,491 neighborhoods, and national percentiles indicate below‑average safety compared with U.S. neighborhoods.
Investors should underwrite with conservative assumptions for security, lighting, and on‑site management. Emphasizing visibility, controlled access, and community standards can help support retention and mitigate risk relative to stronger‑ranked Houston areas.
Proximity to major energy and utilities employers offers a broad commuter tenant base and supports leasing durability for workforce apartments. Notable nearby employers include Waste Management, CenterPoint Energy, Kinder Morgan, Enterprise Products Partners, and Targa Resources.
- Waste Management — waste services (7.5 miles) — HQ
- Centerpoint Energy — electric & gas utility (7.7 miles) — HQ
- Kinder Morgan — midstream energy (7.7 miles) — HQ
- Enterprise Products Partners — energy infrastructure (7.8 miles) — HQ
- Targa Resources — midstream energy (7.8 miles) — HQ
Built in 1973, the asset’s vintage suggests potential value‑add through targeted interior updates, common‑area refresh, and systems modernization that can improve rent positioning against older local stock. Based on CRE market data from WDSuite, the neighborhood shows a high share of renter‑occupied units and strong grocery and restaurant access, supporting a stable renter pipeline even as occupancy trends run below the metro median.
Within a 3‑mile radius, household counts are increasing while population trends soften, which typically expands the tenant base and supports occupancy management. A rent‑to‑income profile around the mid‑teens and a high‑cost ownership context relative to incomes reinforce the role of multifamily as a more accessible option, aiding lease retention for renovated units. Key risks include below‑average school ratings and safety metrics, which warrant conservative underwriting and active property management.
- High renter-occupied share supports depth of tenant base
- Everyday retail access (groceries, restaurants) aids leasing stability
- 1973 vintage offers value‑add and systems‑upgrade upside
- 3‑mile household growth points to a broader renter pool
- Risks: below‑metro occupancy, safety and school ratings require active management