| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 50th | Good |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8103 Grow Ln, Houston, TX, 77040, US |
| Region / Metro | Houston |
| Year of Construction | 1973 |
| Units | 108 |
| Transaction Date | 2006-06-30 |
| Transaction Price | $2,837,500 |
| Buyer | LYNDON STREET APARTMENTS LLC |
| Seller | KPR INVESTMENTS LLC |
8103 Grow Ln, Houston TX Multifamily Investment
Neighborhood occupancy has been resilient, with the area showing competitive stability versus many Houston peers, according to WDSuite’s CRE market data. For investors, this points to durable renter demand and consistent leasing performance.
Located in an inner-suburb pocket of Houston, the neighborhood posts a B- rating and shows competitive occupancy performance among 1,491 metro neighborhoods. Neighborhood occupancy is in the top quartile nationally, signaling steady demand for workforce and mid-market rentals, based on CRE market data from WDSuite. Grocery access is a relative strength (top decile nationally), while restaurants are above-average; however, parks, cafes, childcare, and pharmacies are limited within the immediate area, which may modestly affect livability for some renters.
At the property level, the 1973 vintage is older than the neighborhood’s typical 1990s construction. For investors, that usually implies capital planning for building systems and common areas, but also potential value-add upside to compete against newer stock. Average unit sizes around micro/studio range suggest a renter profile prioritizing price point and location over space, which can aid lease-up velocity when priced correctly.
Within a 3-mile radius, the population and household base have expanded, with projections indicating further growth in households and incomes through the mid-term. A renter-occupied share near the mid-50s within this radius points to a sizable tenant pool that supports occupancy stability. Rising incomes alongside increasing contract rents suggest ongoing demand, but rent-to-income ratios in the neighborhood point to some affordability pressure, making thoughtful lease management and amenity positioning important for retention.
Relative to metro and national CRE trends, this submarket balances strong day-to-day necessities (notably groceries) with fewer lifestyle amenities, and it competes on value and access rather than discretionary offerings. For multifamily investors, the mix of stable neighborhood occupancy, a deep renter base, and value-add potential from an older asset creates a pragmatic path to durable performance if capital upgrades are targeted.
Safety indicators for the neighborhood trail national norms, with crime measures placing the area below the national median and behind many Houston neighborhoods. Recent year-over-year estimates indicate property and violent offenses have moved higher, underscoring the importance of active on-site management, lighting, and access controls to support resident comfort and retention.
Investors should underwrite with conservative operating assumptions and consider partnerships with local patrol resources and technology-forward security solutions. As always, compare block-by-block conditions during site visits and benchmark against nearby inner-suburban Houston communities for a current view of trend direction.
The area is supported by a diverse set of corporate offices that broaden the renter pool and shorten commutes for residents, including Emerson Process Management, Wells Fargo Advisors, ExxonMobil’s Brookhollow campus, Enterprise Products, and Group 1 Automotive.
- Emerson Process Management — corporate offices (2.5 miles)
- Wells Fargo Advisors — corporate offices (4.5 miles)
- ExxonMobil - Brookhollow Campus — corporate offices (4.6 miles)
- Enterprise Products — corporate offices (4.7 miles)
- Group 1 Automotive — corporate offices (5.2 miles) — HQ
This 108-unit, 1973-vintage asset sits in an inner-suburban Houston neighborhood where neighborhood occupancy trends rank competitively within the metro and in the top quartile nationally. According to CRE market data from WDSuite, the area’s grocery access is a relative strength, while fewer lifestyle amenities suggest properties compete on value and commute convenience. The asset’s older vintage points to targeted capex and value-add potential to sharpen positioning against 1990s-era stock.
Within a 3-mile radius, a large and growing household base with a renter-occupied share around the mid-50s supports a durable tenant pool. Income growth and rising contract rents reinforce demand, though rent-to-income ratios indicate affordability pressure that warrants disciplined renewals and amenity-light operating strategies. With prudent capital planning and attention to security and resident experience, the asset can lean on steady neighborhood demand for consistent performance.
- Competitive neighborhood occupancy and steady renter demand underpin leasing stability
- 1973 vintage offers value-add and repositioning opportunities versus 1990s peer stock
- Strong grocery access and commute-friendly location support day-to-day livability
- 3-mile renter base near mid-50s provides depth for renewals and lease-up
- Risks: below-average safety metrics and affordability pressure require conservative underwriting and proactive management