| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 87th | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 824 Bering Dr, Houston, TX, 77057, US |
| Region / Metro | Houston |
| Year of Construction | 1999 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
824 Bering Dr Houston Multifamily Investment Opportunity
Renter demand in this Urban Core pocket shows depth and income support, according to WDSuite’s CRE market data, with neighborhood rents positioned above many areas of the metro while still maintaining a balanced rent-to-income profile.
Located in Houston’s Urban Core, the neighborhood ranks 65th out of 1,491 metro neighborhoods, placing it in the top quartile among Houston submarkets for overall quality. Amenity access is mixed: groceries (95th percentile nationally), restaurants (93rd), and pharmacies (90th) are strengths, while parks and cafes are limited, which investors should factor into marketing and resident experience strategies.
Rent fundamentals lean supportive. Neighborhood median asking rents sit in the upper range locally (national 78th percentile), and rent-to-income reads as manageable (around the national 33rd percentile), which can help with retention and lease management. At the same time, neighborhood occupancy is below national medians (national 31st percentile), suggesting operators should plan for proactive leasing and renewal programs to sustain performance.
Tenure data points to a deep renter base: within a 3-mile radius, an estimated 67% of housing units are renter-occupied, and household sizes are trending smaller. This favors demand for one- and two-bedroom product and supports consistent leasing velocity for well-managed assets. Educational attainment is comparatively high (bachelor’s degree share near the national 94th percentile), reinforcing an income profile aligned with urban, amenity-rich living.
Vintage positioning is a relative positive. The average construction year in the neighborhood is 1978; a 1999 asset should compete well against older stock while still warranting targeted modernization of systems and finishes to protect rents and reduce longer-term capital surprises. Overall, strong amenities and renter concentration support the investment narrative, with leasing discipline needed given occupancy softness in the neighborhood.
Compared with neighborhoods nationwide, this area sits below average on safety metrics (around the 14th percentile nationally). Within the Houston-The Woodlands-Sugar Land metro, the neighborhood’s crime rank (1,036 out of 1,491) places it in the less favorable range, indicating higher reported crime relative to many Houston neighborhoods. Violent and property offense rates also track in lower national percentiles, so investors should underwrite prudent security measures, lighting, and resident engagement to support retention and operations.
Trend monitoring matters more than point-in-time figures. Operators often mitigate risk through access control, camera coverage, and partnerships with local patrols. Comparing incident trajectories to broader city trends during diligence can help calibrate expense assumptions and renewal strategies without relying on block-level conclusions.
The immediate area draws from a strong white-collar employment base that supports renter demand and commute convenience, including Apache, Prudential, Quanta Services, Wells Fargo Advisors, and Occidental.
- Apache — energy (1.4 miles) — HQ
- Prudential — financial services (1.6 miles)
- Quanta Services — infrastructure services (1.9 miles) — HQ
- Wells Fargo Advisors — financial services (3.2 miles)
- Occidental — energy (3.5 miles)
This 42-unit, 1999-vintage asset competes favorably against older neighborhood stock and benefits from deep renter concentration and strong urban conveniences. Within a 3-mile radius, population and household counts are projected to grow, indicating a larger tenant base and potential support for occupancy stability over the medium term. According to CRE market data from WDSuite, local asking rents trend above many areas while rent-to-income remains manageable, helping balance pricing power with retention.
Key watch items include neighborhood occupancy that trails national norms and safety metrics that are less favorable than many Houston neighborhoods. Targeted renovations, thoughtful security, and disciplined leasing should position the asset to capture demand from nearby employment centers and renters prioritizing access to groceries, restaurants, and services.
- 1999 vintage competes well versus older local stock, with clear modernization opportunities to sustain rents and reduce long-run capex risk.
- Strong renter concentration within 3 miles and small household sizes support steady demand for 1–2 bedroom product.
- Amenity strengths (groceries, restaurants, pharmacies) enhance leasing appeal despite limited parks and cafes.
- According to WDSuite data, rents are relatively strong with manageable rent-to-income ratios, aiding retention and pricing strategy.
- Risks: neighborhood occupancy trails national medians and safety ranks below many Houston areas; plan for proactive leasing and security measures.