| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 31st | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8404 Stone St, Houston, TX, 77061, US |
| Region / Metro | Houston |
| Year of Construction | 1972 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8404 Stone St Houston 76-Unit 1972 Value-Add
Renter concentration in the surrounding neighborhood is high, supporting a deep tenant base even as occupancy has eased, according to WDSuite’s CRE market data. Positioned in an inner-suburban pocket of Houston, the asset’s smaller average unit sizes can align with value-oriented demand while offering operational flexibility.
The property sits in an Inner Suburb neighborhood of Houston rated C+ (ranked 884 among 1,491 metro neighborhoods), indicating competitive but mid-tier fundamentals within the metro. Amenity access is mixed: restaurants and grocery options track around the middle of national peers, with cafes comparatively stronger, while park and pharmacy access is limited. For investors, this translates to serviceable day-to-day convenience without paying a premium for marquee locations.
Neighborhood-level housing data show a large share of housing units are renter-occupied (65.8%), signaling depth in the multifamily tenant base. While neighborhood occupancy has trended softer in recent years, the elevated renter concentration supports ongoing leasing activity and can help stabilize turnover with the right leasing strategy and operations.
Construction year averages in the neighborhood skew to the mid-1970s (1976), and this asset’s 1972 vintage is slightly older. That typically points to capital planning needs for building systems and common areas, but also to value-add potential via renovations and targeted upgrades that improve competitive positioning against similar-age stock.
Within a 3-mile radius, demographics point to nuanced demand drivers: household counts have increased even as population edged down, indicating smaller household sizes and a potential shift toward rental housing. Median contract rents in the 3-mile area have risen over the last five years and are projected to continue growing, which can support revenue management while keeping an eye on affordability for retention.
Ownership costs in the neighborhood are elevated relative to local incomes (value-to-income ratio ranks in the top quartile nationally), which reinforces renter reliance on multifamily housing. Combined with a moderate rent-to-income profile, this suggests pricing power is present but should be balanced with attentive lease management to protect occupancy and renewals.
Safety indicators for the neighborhood trail both national percentiles and metro medians, placing the area below average among Houston neighborhoods (1,491 total). Nationally, the neighborhood scores in lower percentiles for safety, which implies heightened risk compared to many U.S. neighborhoods. Investors should underwrite for enhanced security measures, thoughtful site management, and tenant screening to support retention and property performance.
Recent year estimates indicate increases in both violent and property offenses at the neighborhood level. While these are neighborhood-wide measures rather than property-specific, they warrant proactive operating plans such as lighting, access control, and community engagement to mitigate risk and support leasing outcomes over time.
Proximity to major corporate headquarters in central Houston supports a sizable employment base and commute convenience for renters, particularly across energy and power services represented below.
- Waste Management — corporate offices (8.3 miles) — HQ
- Centerpoint Energy — corporate offices (8.6 miles) — HQ
- Kinder Morgan — corporate offices (8.6 miles) — HQ
- Calpine — corporate offices (8.6 miles) — HQ
- Enterprise Products Partners — corporate offices (8.6 miles) — HQ
This 1972, 76-unit asset aligns with a renter-heavy neighborhood where a large share of units are renter-occupied, supporting demand depth for smaller-format housing. According to CRE market data from WDSuite, neighborhood occupancy has softened versus prior years, suggesting that value-oriented positioning and operational execution will matter more than in tighter submarkets. The older vintage points to clear value-add and capital planning levers to elevate rents and retention relative to similar 1970s stock.
Within a 3-mile radius, household counts are up while average household size is trending lower, expanding the pool of prospective renters even as the broader population is essentially flat to down. Elevated ownership costs relative to local incomes further sustain reliance on rentals, providing a foundation for stable leasing if affordability and resident experience are managed carefully.
- High renter-occupied share in the neighborhood supports a deep tenant base and ongoing leasing activity.
- 1972 vintage offers value-add potential through system upgrades and unit renovations to sharpen competitiveness.
- Household growth within 3 miles and smaller household sizes point to a broader renter pool and demand for smaller units.
- Elevated ownership costs versus incomes in the neighborhood can reinforce rental demand and lease retention.
- Risks: neighborhood safety metrics lag the metro and occupancy has softened; plan for security, targeted marketing, and disciplined revenue management.