| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 61st | Good |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 788 Bateswood Dr, Houston, TX, 77079, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | 2022-01-13 |
| Transaction Price | $1,808,800 |
| Buyer | DM DETTLING FUNERAL DIRECTORS LLC |
| Seller | BAXTER-CARGILL INC |
788 Bateswood Dr Houston 100-Unit Value-Add Multifamily
Neighborhood occupancy sits in the low 90s and renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data. The location offers stable leasing fundamentals with room to enhance positioning through selective upgrades.
This inner-suburb location is competitive among Houston neighborhoods, landing in the top quartile among 1,491 metro neighborhoods for overall neighborhood rating (A-). Cafes and grocery options are dense for the area, with amenity access performing in the upper tiers nationally, supporting day-to-day convenience that helps with leasing and renewals.
The 1973 vintage is slightly newer than the neighborhood’s average construction year and can remain competitive versus older stock with targeted modernization to interiors and building systems. Median home values in the area are elevated relative to many U.S. neighborhoods, which tends to sustain reliance on multifamily options and can support pricing power over time.
Renter-occupied housing accounts for a substantial share of neighborhood units, indicating a deep tenant base that supports absorption and occupancy stability. Within a 3-mile radius, population and household counts have edged higher in recent years while average household size has trended lower, suggesting a larger renter pool and steady unit demand going forward.
Schools in the area trend above national averages for ratings, and local dining density is strong, though park and pharmacy access is more limited nearby. Overall, location fundamentals align with workforce and professional renter demand profiles common to Houston’s west side.
Safety indicators trend below national averages here, with both violent and property offense rates ranking in lower national percentiles. Within the Houston metro, safety performance is below the metro median, so investors should underwrite prudent security measures and loss assumptions.
Recent data also points to year-over-year increases in reported violent offenses. A balanced view would pair operational controls and lighting/camera upgrades with resident engagement to support retention and protect NOI while monitoring citywide trend shifts.
Proximity to major corporate offices supports a steady renter pipeline, particularly among energy and business services professionals. Nearby anchors include ConocoPhillips, Sysco, Group 1 Automotive, Phillips 66, and Wells Fargo Advisors, offering short commutes that can aid leasing velocity and retention.
- Conocophillips — energy headquarters (1.8 miles) — HQ
- Sysco — foodservice distribution headquarters (2.0 miles) — HQ
- Group 1 Automotive — auto retail headquarters (2.9 miles) — HQ
- Phillips 66 — energy offices (3.0 miles)
- Wells Fargo Advisors — financial services (4.1 miles)
This 100-unit, 1973 asset sits in a west Houston neighborhood with solid renter concentration and amenity access that supports day-to-day livability. According to CRE market data from WDSuite, the neighborhood’s occupancy is in the low 90s and local home values are elevated, reinforcing reliance on rental housing and supporting pricing power when paired with thoughtful renovations.
The vintage presents scope for value-add strategies focused on unit interiors and building systems to improve competitive standing versus older stock nearby. Within a 3-mile radius, modest population growth and a larger household base point to a broader tenant pool, while strong employer proximity underpins commute convenience and leasing stability. Key considerations include proactive safety management and underwriting for operating enhancements.
- Renter concentration and elevated ownership costs support durable multifamily demand
- 1973 vintage offers clear value-add and systems-upgrade potential
- Dense nearby employers (energy and services) bolster leasing and retention
- Neighborhood occupancy in the low 90s provides a stable starting point
- Risk: below-median safety trends warrant enhanced security and prudent loss assumptions