| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 44th | Fair |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 S Bender Ave, Humble, TX, 77338, US |
| Region / Metro | Humble |
| Year of Construction | 1982 |
| Units | 102 |
| Transaction Date | 2016-05-18 |
| Transaction Price | $7,000,000 |
| Buyer | Rockstar Capital Management, LLC |
| Seller | --- |
424 S Bender Ave, Humble TX Multifamily Investment
Neighborhood occupancy trends sit in the mid-90s with a sizable renter base, supporting durable leasing fundamentals, according to WDSuite’s CRE market data. With mid-1980s vintage and 102 units, this asset can compete on value while targeting pragmatic upgrades to support retention.
The property is in an Inner Suburb location within the Houston-The Woodlands-Sugar Land metro where the neighborhood carries a B+ rating and ranks 549 of 1,491 — competitive among Houston neighborhoods. Occupancy for the neighborhood is in the mid-90% range (66th percentile nationally), supporting baseline stability for lease-up and renewals.
Daily-life amenities are solid for workforce renters: restaurant density is competitive among Houston neighborhoods (rank 226 of 1,491) and grocery access tracks above national norms (74th percentile), while childcare availability is top quartile nationally (94th percentile). Park and pharmacy access are limited at the neighborhood level, so on-site amenities and proximity to retail become more important differentiators.
Construction in the surrounding area skews older (average year 1964; rank 1,359 of 1,491). With a 1982 build, this property is newer than much of the nearby stock, offering relative competitiveness while still presenting common mid-80s capital needs (exteriors, systems modernization, and unit finishes) that can be sequenced for value-add.
Within a 3-mile radius, population grew over the past five years and is projected to be roughly flat ahead, while households are expected to increase alongside smaller average household sizes. This points to a larger tenant base even without strong population growth, supporting occupancy stability and steady multifamily demand. The renter-occupied share is about 46%, indicating meaningful depth for apartments and reinforcing leasing continuity.
Home values in the neighborhood benchmark below national medians (29th percentile), and rent-to-income sits in a lower national percentile, suggesting affordability headroom that can aid retention but may temper near-term pricing power versus higher-cost submarkets. Taken together, the area’s amenity mix, competitive standing in the metro, and renter concentration align with a durable workforce profile suitable for disciplined operations and measured upgrades informed by multifamily property research.
Safety indicators are mixed against national benchmarks. Overall crime aligns just below the national median for safety (45th percentile), while violent-offense metrics are weaker (8th percentile nationally). However, recent trend data show meaningful improvement: property offenses moved lower year over year (improvement in the 89th percentile nationally) and violent-offense rates also declined (71st percentile for improvement). These shifts suggest conditions are improving, though investors should continue to underwrite appropriate security, lighting, and access controls.
Relative to Houston-The Woodlands-Sugar Land neighborhoods (1,491 total), the trend toward improvement is a constructive signal for retention and lease management, but ongoing monitoring and property-level measures remain prudent for operational planning.
Nearby energy and business services employers support a broad workforce renter pool and commute convenience that can aid leasing stability. The following employers represent notable demand drivers for this location.
- Halliburton — energy services (5.9 miles) — HQ
- FedEx Office Print & Ship Center — business services (6.3 miles)
- McKesson Specialty Health — healthcare distribution (15.9 miles)
- Anadarko Petroleum — energy (15.9 miles) — HQ
- Centerpoint Energy — utilities (16.6 miles)
Built in 1982 with 102 units, the asset is positioned to compete against older neighborhood stock while benefiting from steady renter demand and mid-90s neighborhood occupancy. The area’s standing is competitive among Houston neighborhoods (549 of 1,491), and national measures point to solid amenity access and affordability that support retention. According to CRE market data from WDSuite, the neighborhood’s occupancy, renter concentration, and improving safety trends collectively favor operational stability, while value-add upgrades can target rent-effective improvements rather than heavy repositioning.
Within a 3-mile radius, recent population gains and projected household growth alongside smaller household sizes indicate a larger tenant base over time. Lower rent-to-income positioning provides affordability headroom to manage renewals, though below-median home values suggest some competition from ownership, warranting disciplined pricing and amenity-driven differentiation.
- Competitive neighborhood standing (549 of 1,491) with mid-90s occupancy supporting stable leasing
- 1982 vintage offers relative age advantage versus local stock with targeted value-add potential
- Workforce demand supported by nearby energy and services employers aiding retention
- Affordability and growing household counts (3-mile radius) expand the renter pool and support renewals
- Risks: below-median home values and mixed safety benchmarks require disciplined pricing, security, and amenity strategy