| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 11th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9560 Deering Dr, Houston, TX, 77036, US |
| Region / Metro | Houston |
| Year of Construction | 1983 |
| Units | 66 |
| Transaction Date | 2018-10-26 |
| Transaction Price | $1,375,000 |
| Buyer | MERKO INVESTMENTS LLC |
| Seller | SWAY CAPITAL ACQUISITIONS LLC |
9560 Deering Dr, Houston — Workforce Multifamily Opportunity
High renter concentration in the immediate neighborhood supports a deep tenant base, while occupancy trends suggest disciplined operations and value positioning, according to WDSuite’s CRE market data. Investors may find stable demand drivers with room to outperform through active management.
Situated in Houston’s Urban Core, the property is surrounded by everyday conveniences that matter to renters. Grocery and pharmacy access scores in the top quartile nationally, while restaurants are plentiful; however, park and cafe density is limited. This mix points to practical livability for workforce households, with fewer lifestyle amenities than higher-cost submarkets.
Within the neighborhood context, amenity strength is competitive among Houston-The Woodlands-Sugar Land neighborhoods (ranked 167 out of 1,491). Neighborhood occupancy trends trail broader metro and national norms, indicating that well-executed leasing, renewal management, and value-forward unit positioning are important to maintain stability.
Tenure dynamics are a notable positive: the neighborhood shows a very high share of renter-occupied housing units, signaling depth in the multifamily demand pool and ongoing leasing velocity potential. In the broader 3-mile radius, demographics indicate a renter-leaning area with households holding steady and gradually shifting toward smaller average household sizes over time—factors that can support sustained renter demand.
Affordability sits in a middle band for Houston: median contract rents are moderate, and ownership costs in the neighborhood are more accessible than in higher-priced parts of the metro. For investors, this implies balanced pricing power—supportive for lease retention, but with some competition from entry-level ownership alternatives if rents outpace incomes.
Relative to the Houston metro’s 1,491 neighborhoods, this area ranks in the lower tier for safety, and its national safety standing is below average. For investors, prudent measures such as visible property management presence, lighting, and access controls can help support resident confidence and retention.
Given these comparative readings, underwriting should reflect slightly higher operating attention to security and tenant screening than in top-quartile submarkets. Trends should be monitored over time rather than relying on block-level assumptions.
Nearby employers span energy, facilities services, and financial services, supporting local workforce housing demand and convenient commutes for residents. The following anchors illustrate the immediate employment base within a short drive.
- National Oilwell Varco Employees CU — financial services (0.79 miles)
- National Oilwell Varco — oilfield services (0.83 miles) — HQ
- Abm SSC — facility services (0.93 miles)
- Phillips 66 — energy (4.30 miles) — HQ
- Quanta Services — infrastructure contracting (6.65 miles) — HQ
The 66-unit asset, built in 1983, aligns with a durable workforce housing niche. Vintage suggests opportunities for targeted value-add—interiors, energy efficiency, and common-area upgrades—to improve competitive positioning against similar-age stock while planning for systems upkeep. The surrounding neighborhood shows very high renter-occupied share and everyday shopping access, both supportive of tenant retention. According to CRE market data from WDSuite, neighborhood occupancy trails metro norms, pointing to upside for experienced operators who can execute on leasing, renewals, and expense control.
Three-mile demographics show a renter-leaning area with households broadly stable and projected to increase, alongside a gradual shift toward smaller household sizes—factors that can expand the renter pool and support stabilization. Ownership remains relatively accessible locally, which can temper rent growth outperformance but also encourages lease retention when value is evident. Safety indicators are below metro averages, so underwriting should include security capex and operating practices commensurate with the submarket profile.
- Workforce location with strong renter-occupied housing share supporting demand depth
- 1983 vintage offers clear value-add paths (interiors, efficiency, and common areas)
- Competitive daily-needs access (groceries, pharmacies) aids retention and leasing
- Operator upside: neighborhood occupancy below metro norms creates room to outperform
- Risks: below-average safety and some competition from entry-level ownership options