| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 35th | Fair |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9224 Rodney Ray Blvd, Houston, TX, 77040, US |
| Region / Metro | Houston |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2021-11-10 |
| Transaction Price | $4,012,500 |
| Buyer | HOUSTON ROLLING FORK VILLAGE TOWNHOMES LP |
| Seller | BALLATER LTD |
9224 Rodney Ray Blvd Houston Multifamily Investment
Neighborhood occupancy trends sit below the metro median, but renter affordability and proximity to major employment nodes support steady leasing, according to WDSuite’s CRE market data.
This suburban Houston location offers everyday convenience with a moderate amenity mix. Restaurant density ranks in the upper-third nationally while grocery access tracks near the national median, but overall amenities sit below national norms. Within the Houston metro, park access is competitive among 1,491 neighborhoods, adding livability that can aid retention.
At the neighborhood level, occupancy is below the metro median, so underwriting should assume a more competitive lease-up and renewal environment. Renter-occupied share is on the lower side (owner-leaning), which indicates a shallower immediate renter pool yet often steadier household profiles. Median contract rents benchmark mid-range nationally, and the rent-to-income ratio is favorable for residents, which can support collections and renewal rates even if it tempers near-term pricing power.
Demographic indicators aggregated within a 3-mile radius show a broadly stable population in recent years with forecasts pointing to modest population growth and an increase in households by 2028. Rising household incomes in the radius expand spending power, while a renter share around one-third suggests meaningful depth for multifamily demand despite the neighborhood’s ownership tilt.
Home values in the area are lower than many coastal markets, creating a more accessible ownership landscape that can compete with rentals. For investors, this typically favors well-managed workforce housing with clear value propositions—functional unit layouts, reliable maintenance, and thoughtful amenity upgrades—to sustain occupancy and limit concession exposure.
Safety metrics are mixed. Compared with neighborhoods nationwide, the area trends below the national median for safety, reflecting higher reported incidents. Within the Houston metro (1,491 neighborhoods), the neighborhood’s crime rank sits around the middle of the pack rather than top tier.
Recent movement is more constructive: property offense rates have improved year over year, placing the neighborhood above the national median for improvement trajectory. Investors should emphasize lighting, access control, and visible management presence to support resident confidence and leasing stability while monitoring whether recent improvements persist.
Nearby corporate offices create a diversified employment base that supports renter demand and commute convenience, led by Enterprise Products, Emerson Process Management, CenterPoint Energy, Hewlett Packard Enterprise, and ExxonMobil’s Brookhollow operations.
- Enterprise Products — energy infrastructure (1.3 miles)
- Emerson Process Management — industrial automation (2.1 miles)
- Centerpoint Energy — utilities (3.4 miles)
- Hewlett Packard Enterprise Customer Engagement Center — technology services (7.0 miles)
- ExxonMobil - Brookhollow Campus — energy offices (7.8 miles)
The investment case centers on renter affordability, access to a broad employment base, and stable 3-mile radius demographics that point to gradual renter pool expansion. While the immediate neighborhood’s occupancy trails the metro median, mid-tier rents and a favorable rent-to-income profile can support collections and renewal capture with disciplined operations and targeted upgrades. Based on commercial real estate analysis from WDSuite, amenity convenience is adequate and park access is competitive locally, aiding livability for workforce renters.
Key considerations include the area’s owner-leaning housing stock, which can limit the immediate depth of renters, and safety metrics that lag national medians despite recent improvement trends. Execution should emphasize operational consistency, curb appeal, and cost-effective unit enhancements to differentiate against both rental peers and attainable ownership alternatives.
- Renter affordability supports collections and renewal stability in a mid-rent submarket
- Proximity to diverse employers underpins steady demand and commute convenience
- Stable 3-mile demographics with forecast household growth support occupancy over time
- Value creation via targeted unit and common-area improvements rather than heavy capex
- Risks: below-metro occupancy and below-median safety require focused management and leasing