| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 58th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 911 Sun Prairie Dr, Houston, TX, 77090, US |
| Region / Metro | Houston |
| Year of Construction | 1984 |
| Units | 80 |
| Transaction Date | 2006-03-09 |
| Transaction Price | $1,887,500 |
| Buyer | HERMIZ LTD |
| Seller | K & G VENTURES INC |
911 Sun Prairie Dr: 80-Unit 1984 Houston Multifamily
Positioned in an inner suburb with a large renter base and mid-market rents, this asset offers value-add potential and demand depth, according to WDSuite’s CRE market data. Neighborhood occupancy trends trail metro norms, but a growing 3-mile household base supports leasing durability for well-managed product.
The property sits in a Houston inner-suburban neighborhood where local rents track near the metro middle (above the national median by rank), while neighborhood occupancy is below the metro median based on WDSuite data. For investors, that mix points to competitive pricing power for well-positioned assets but underscores the importance of asset quality and leasing execution to sustain occupancy.
Retail, parks, and daily-needs amenities are limited within the immediate neighborhood (amenity rank is among the lowest of 1,491 Houston-area neighborhoods), so residents typically rely on nearby corridors and employment centers for services. This dynamic can favor communities that offer on-site conveniences and strong property management to enhance retention.
Vintage matters: built in 1984, the asset is older than the neighborhood’s average construction year of 2004. That age profile suggests clear value-add or capital planning levers (interiors, exteriors, building systems) to sharpen competitiveness against newer stock while targeting rent-step opportunities through modernization.
Tenure patterns indicate renter demand: roughly two-fifths of housing units in the neighborhood are renter-occupied, and within a 3-mile radius renters make up a majority of occupied units. For multifamily investors, that supports a deeper tenant base and potential lease-up stability when paired with appropriate finishes and pricing.
Within a 3-mile radius, recent population and household growth has been positive, with forecasts calling for further population growth and a meaningful increase in households. This enlarges the local renter pool and can support occupancy stability and rent growth for competitively positioned communities.
Homeownership costs in the neighborhood sit in the mid-range for the Houston metro, which, together with a modest rent-to-income profile by rank, suggests manageable affordability pressure for renters—helpful for lease retention while still allowing targeted rent optimization where renovations add discernible value.
Safety performance in the neighborhood trails national norms, with overall crime levels ranking below average nationally. Compared with other Houston neighborhoods, ranks place this area below the metro median out of 1,491 neighborhoods, so investors should underwrite proactive security measures and resident engagement to support retention.
Property-related incidents have shown recent improvement (a better year-over-year trend by national percentile), while violent offense comparisons remain weaker nationally. The directional improvement is constructive, but prudent operators typically budget for lighting, access controls, and partnership with local patrol resources to help sustain community standards.
Proximity to major corporate offices supports a broad workforce renter base and commute convenience. Key nearby employers include CenterPoint Energy, Halliburton, Hewlett Packard Enterprise, Enterprise Products, and Emerson.
- Centerpoint Energy — utilities (6.8 miles)
- Halliburton — energy services (6.9 miles) — HQ
- Hewlett Packard Enterprise Customer Engagement Center — technology offices (8.9 miles)
- Enterprise Products — midstream energy offices (8.9 miles)
- Emerson Process Management — industrial automation offices (10.7 miles)
This 80‑unit community offers a straightforward value-add thesis: 1984 construction presents opportunities to modernize interiors and common areas to differentiate against newer local stock, while a sizable renter base and expanding 3‑mile household counts bolster the tenant pipeline. Neighborhood occupancy trends sit below metro norms, so execution around renovations, marketing, and resident experience will be central to driving stabilized performance.
According to CRE market data from WDSuite, neighborhood rents benchmark near the metro middle and rent-to-income runs modest by rank, indicating room for disciplined pricing where upgrades elevate utility. Mid-range home values in the area help sustain reliance on rental housing, and proximity to multiple corporate employers reinforces day-to-day demand. Key risks include limited immediate amenities and safety metrics that trail national averages, both of which call for thoughtful onsite programming and security planning.
- 1984 vintage creates clear renovation and capital planning levers for value creation
- Large 3-mile renter pool and household growth support leasing and occupancy stability
- Rents near metro middle with modest rent-to-income by rank enable targeted premium capture
- Access to major employers underpins workforce demand and retention
- Risks: below-metro occupancy, limited nearby amenities, and safety metrics require proactive management