| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 22nd | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9330 Synott Rd, Houston, TX, 77083, US |
| Region / Metro | Houston |
| Year of Construction | 1983 |
| Units | 104 |
| Transaction Date | 2003-04-01 |
| Transaction Price | $2,950,000 |
| Buyer | Azuta, LLC |
| Seller | South Chase Limited |
9330 Synott Rd Houston Multifamily Investment
Neighborhood occupancy is elevated and consistent, supporting income stability for a 104‑unit asset, according to WDSuite’s CRE market data. Positioned in Houston’s inner suburbs, the area shows durable renter demand relative to local alternatives.
This inner-suburb location in Houston balances daily conveniences with workforce accessibility. Neighborhood occupancy sits in the top quartile nationally, indicating steady leasing conditions at the neighborhood level rather than the property itself, based on CRE market data from WDSuite. The renter-occupied share is also high for the metro, signaling a deep tenant base and supporting renewal velocity.
Amenities skew practical: restaurants are dense compared to most U.S. neighborhoods, while groceries and pharmacies are readily accessible. Parks and cafes are less prevalent, a consideration for resident lifestyle positioning. Average school ratings sit below national norms, which may moderate appeal for some family renters and should inform marketing strategy and amenity programming.
Within a 3‑mile radius, recent years show modest population contraction alongside a smaller average household size and rising household incomes. WDSuite’s data indicates an expected increase in households even as population edges down, which can expand the renter pool and support occupancy stability. Median contract rents in the area have trended upward from prior periods, and current rent-to-income levels suggest manageable affordability pressure, which can aid retention while moderating near-term pricing power.
Ownership costs in this submarket are comparatively accessible versus many U.S. areas, implying some competition from for-sale options. For multifamily investors, this typically favors well-maintained, moderately priced units that compete on convenience and total cost of living rather than premium finishes alone.
Safety indicators are below the national median, with violent and property offense measures weaker than many U.S. neighborhoods. These figures reflect neighborhood-level conditions rather than the property. Recent data points to a modest year-over-year uptick, underscoring the importance of standard risk management—lighting, access control, and coordination with local resources—when underwriting operations and expense assumptions.
In metro context, this places the area as competitive among some Houston neighborhoods but not top quartile nationally. Investors typically address this through targeted on-site measures and prudent leasing policies to support resident experience and retention.
Proximity to a diverse employer base supports commute convenience and reinforces workforce housing demand, led by energy and food distribution, with several headquarters nearby: ABM SSC, National Oilwell Varco, Phillips 66, Sysco, and ConocoPhillips.
- Abm SSC — corporate offices (3.7 miles)
- National Oilwell Varco Employees CU — corporate offices (3.7 miles)
- National Oilwell Varco — energy services (3.7 miles) — HQ
- Phillips 66 — energy (5.4 miles) — HQ
- Sysco — food distribution (5.5 miles) — HQ
The property’s submarket exhibits high neighborhood occupancy and a sizable renter-occupied share, supporting cash flow consistency relative to many peer locations. Within a 3‑mile radius, households are projected to increase while average household size declines, suggesting a larger tenant base even as population trends lower—conditions that generally support leasing stability for well-positioned, mid-market units. According to CRE market data from WDSuite, local rent levels have risen from prior periods, and rent-to-income dynamics imply manageable affordability pressure that can aid retention.
Built in 1983, the asset likely benefits from value-add opportunities through targeted interior upgrades and systems modernization to sharpen competitive positioning against newer stock. With 104 units averaging roughly 713 square feet, the scale and unit mix suit workforce demand profiles; success will hinge on disciplined expense control, security best practices, and amenity/programming choices that resonate in a price-sensitive, commuter-friendly location.
- High neighborhood occupancy supports income durability
- Expanding household counts within 3 miles point to a larger renter pool
- 1983 vintage with value-add and systems upgrade potential
- Employer proximity underpins workforce demand and leasing
- Risks: below-median safety metrics and more accessible ownership options require focused operations