| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 17th | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 912 Freeport St, Houston, TX, 77015, US |
| Region / Metro | Houston |
| Year of Construction | 1980 |
| Units | 31 |
| Transaction Date | 2014-03-31 |
| Transaction Price | $660,000 |
| Buyer | HYCON INTERNATIONAL LLC |
| Seller | YU SU HUAN |
912 Freeport St Houston Multifamily Investment Opportunity
Neighborhood-level renter-occupied housing is sizable and supports steady tenant demand, according to WDSuite’s CRE market data, with pricing positioned toward workforce renters in this inner-suburban pocket of Houston. Occupancy trends are stable for the area, offering manageable leasing risk if underwriting stays conservative.
The property sits in an inner-suburban Houston location with everyday essentials close by. Neighborhood amenity coverage is mixed: grocery access is strong (among the higher concentrations metro‑wide and top quartile nationally), while parks, pharmacies, cafes, and childcare are sparse. For investors, this combination tends to support day‑to‑day convenience but may limit lifestyle-driven premiums.
Neighborhood rent positioning trends toward the lower side of the metro, with area median contract rents below Houston averages and five‑year growth that has been constructive. The neighborhood occupancy rate is in the high‑80s and has edged down over five years, suggesting prudent lease‑up assumptions and attention to renewals, but not signaling structural weakness.
Renter concentration in the neighborhood is elevated (48.8% of housing units are renter‑occupied), which points to a relatively deep tenant base for a 31‑unit asset. Within a 3‑mile radius, population and household counts have grown over the past five years and are projected to continue increasing, indicating a larger tenant pool and support for occupancy stability. Median household income in the 3‑mile area has risen, and current rent levels imply manageable affordability pressure, which can aid retention if rent steps are calibrated.
Home values in the neighborhood are lower than the Houston metro’s higher‑cost submarkets, creating a market where ownership is comparatively more accessible. For multifamily owners, that can translate into measured pricing power and the need to compete on value, management quality, and unit livability rather than pushing top‑of‑market rents.
Safety indicators for this neighborhood are mixed and should be underwritten thoughtfully. The area’s crime rank sits at 580 out of 1,491 Houston metro neighborhoods, which indicates higher‑than‑average crime locally. Nationally, violent incidents benchmark in a lower percentile than the U.S. average, while property incidents trend closer to mid‑range. Recent trend data shows year‑over‑year declines in both violent and property offenses, which is constructive, but investors should still plan for security measures and tenant communications consistent with submarket norms.
The east‑Houston location draws on a broad energy and industrial corporate base that supports workforce housing and commute convenience. Nearby anchors include Air Products, Calpine, Waste Management, Kinder Morgan, and NRG Energy.
- Air Products — industrial gases (9.5 miles)
- Calpine — power generation (11.3 miles) — HQ
- Waste Management — environmental services (11.3 miles) — HQ
- Kinder Morgan — energy infrastructure (11.5 miles) — HQ
- NRG Energy — power & utilities (11.5 miles)
This 31‑unit asset in Houston’s inner suburbs caters to value‑oriented renters, with compact average unit sizes that can support competitive effective rents and steady absorption. The neighborhood’s elevated share of renter‑occupied housing and improving 3‑mile household counts point to a durable tenant base. According to CRE market data from WDSuite, area occupancy tracks in the high‑80s with modest softening over five years, suggesting investors should emphasize renewal management and targeted make‑readies to sustain cash flow.
Demand drivers include strong grocery access and proximity to a diversified energy and industrial employment core, while more limited park and cafe coverage caps top‑end premiums. Neighborhood home values are relatively low for the metro, which can introduce some competition from ownership options; disciplined positioning on value, maintenance, and service levels will be key. Safety and school scores warrant conservative underwriting and appropriate property‑level measures.
- Elevated neighborhood renter concentration supports tenant demand depth
- 3‑mile population and household growth signal a larger renter pool and stable absorption
- Competitive unit sizing enables value positioning relative to metro rents
- Proximity to major energy and industrial employers supports leasing and retention
- Risks: safety and school ratings, modest occupancy drift, and competition from ownership options