| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 34th | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 818 Pinemont Dr, Houston, TX, 77018, US |
| Region / Metro | Houston |
| Year of Construction | 1972 |
| Units | 68 |
| Transaction Date | 2017-09-19 |
| Transaction Price | $24,250,000 |
| Buyer | PECOS HOUSING FINANCE CORPORATION |
| Seller | TRIARC ASSET 6 LP |
818 Pinemont Dr Houston Multifamily Investment
Neighborhood occupancy sits in the high 80s and renter concentration is moderate, pointing to stable day-to-day leasing with selective pricing power, according to CRE market data from WDSuite.
Located in an Inner Suburb of Houston, the neighborhood carries a C rating and is positioned below the metro median on several lifestyle amenities. Restaurants are comparatively accessible (above the national median), while cafes, parks, groceries, and pharmacies are sparse. For investors, this mix suggests residents rely on nearby corridors for daily needs rather than immediate walkability.
The median construction year in the neighborhood is 1982, while the property was built in 1972. An older vintage can warrant capital planning for systems and interiors, but it also creates value-add potential to outperform older peer stock through targeted renovations and modernization.
Neighborhood renter-occupied share is 35.3% (above the metro median by rank), implying a balanced base of renters and owners. Within a 3-mile radius, households have grown in recent years with additional growth projected, indicating a larger tenant base over time. Median contract rents in the neighborhood rank below the national median, and the rent-to-income ratio also ranks low nationally, which can support lease retention and measured rent steps. These dynamics align with findings from WDSuite’s multifamily property research.
School ratings in the neighborhood trend below national averages, which may influence unit mix performance for family renters but is often offset in workforce-oriented assets by commute access and pricing. Home values in the neighborhood sit in a high-cost ownership context relative to incomes by national percentile, which tends to sustain reliance on rental housing and supports occupancy durability.
Safety trends, measured at the neighborhood scale, perform below national medians by percentile for both violent and property offenses. National percentiles indicate comparatively higher reported incidents versus neighborhoods nationwide, so investors typically underwrite enhanced security, lighting, and insurance provisions and weigh potential expense variability.
Within the Houston-The Woodlands-Sugar Land metro (1,491 neighborhoods), local crime ranking does not place this area among the top tiers for safety. Recent year estimates also point to increases, reinforcing the importance of active asset management and partnership with residents on property-level safety measures. These observations are drawn from WDSuite’s CRE market data benchmarks.
Proximity to major energy and corporate offices supports weekday traffic and broad renter demand, with commuting access to ExxonMobil, Baker Hughes, Calpine, EOG Resources, and Prudential.
- ExxonMobil - Brookhollow Campus — corporate offices (3.2 miles)
- Baker Hughes — corporate offices (5.66 miles) — HQ
- Calpine — corporate offices (6.32 miles) — HQ
- Eog Resources — corporate offices (6.32 miles) — HQ
- Prudential — corporate offices (6.35 miles)
818 Pinemont Dr offers scale at 68 units in an Inner Suburb location where neighborhood occupancy is near 90% and renter concentration is balanced. The 1972 vintage is older than the neighborhood’s early-1980s average, creating a clear value-add path via unit and system upgrades to strengthen competitive positioning against legacy stock. Within a 3-mile radius, population and household counts have grown with further increases projected, expanding the tenant base and supporting occupancy stability. Based on commercial real estate analysis from WDSuite, neighborhood rents sit below national medians while rent-to-income ranks low nationally, a combination that can aid renewal capture and measured rent growth.
Home values benchmark high relative to incomes by national percentile, reinforcing reliance on rental housing across cycles. Amenity density is limited locally and safety percentiles are below national medians, so underwriting should account for security, marketing to commute-driven renters, and operating efficiencies rather than walkability premiums. Overall, the asset’s scale, workforce orientation, and access to major employment nodes provide a practical foundation for durable demand.
- 68-unit scale in an Inner Suburb with neighborhood occupancy near 90% supporting day-to-day leasing
- 1972 vintage creates value-add and capex-driven upside versus early-1980s neighborhood stock
- 3-mile household and population growth expands the renter pool, supporting retention and lease-up
- High ownership costs relative to income by national percentile sustain rental demand and occupancy
- Risks: below-median safety percentiles and limited nearby amenities require prudent operating and security plans