| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 65th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2243 N Mason Rd, Katy, TX, 77449, US |
| Region / Metro | Katy |
| Year of Construction | 2011 |
| Units | 120 |
| Transaction Date | 2024-03-21 |
| Transaction Price | $2,141,300 |
| Buyer | A & M REAL ESTATE HOLDINGS LLC |
| Seller | BHC PARTNERS LLC |
2243 N Mason Rd, Katy TX Multifamily Investment
Neighborhood multifamily occupancy sits in the top quartile nationally, supporting stable leasing fundamentals, according to WDSuite s CRE market data. The location s inner-suburb profile and steady renter demand position the asset for consistent performance across cycles.
Katy s inner-suburb setting offers daily convenience and a broad renter base for workforce and professional households. Neighborhood amenity access is competitive among Houston-The Woodlands-Sugar Land s 1,491 neighborhoods, with grocery and restaurant density landing in high national percentiles, while parks are limited locally a tradeoff that still aligns with suburban commutes and retail access.
Rents in the neighborhood benchmark above many U.S. areas (high national percentile), and occupancy is strong ated in the top quartile nationally supporting income durability for professionally managed assets. Median rent-to-income in the neighborhood indicates relatively manageable affordability pressure, a dynamic that can aid retention and steady renewal velocity for operators.
The local housing stock skews newer than average, with the area ranking competitive among 1,491 metro neighborhoods on construction recency. That newer competitive set raises the bar on finishes and amenities; 2011-vintage assets can remain attractive with targeted modernizations to common areas and unit interiors where appropriate.
Renter-occupied housing represents a meaningful share of neighborhood units and is above the metro median among the 1,491 neighborhoods, indicating depth in the tenant base for multifamily properties and helping support occupancy stability over time.
Within a 3-mile radius, demographics show population growth over the last five years and a notable increase in households, with forecasts pointing to continued household gains through 2028. A gradual reduction in average household size suggests more households per population, which typically expands the renter pool and supports leasing velocity. Income levels have risen historically and are projected to advance further, reinforcing demand for well-managed, quality rental options.
Home values in the neighborhood sit near the national midpoint. In practice, this means a portion of residents may consider ownership, yet multifamily remains a more accessible option for many households. For investors, this balance can translate into steady demand with measured pricing power, provided product positioning and asset quality align with local expectations.
Safety conditions are mixed relative to broader benchmarks. The neighborhood sits around the middle of the pack among 1,491 Houston-The Woodlands-Sugar Land neighborhoods by crime rank, while its national safety standing is below average. Recent year-over-year trends indicate increases in both property and violent offense estimates, suggesting owners should budget for proactive security measures and resident engagement to support retention.
For investors, the takeaway is risk management rather than alarm: compare operating plans and on-site practices to peer properties, monitor trend direction, and underwrite to modest outlays for access control, lighting, and coordination with local resources. This approach can help maintain leasing performance even where comparative metrics signal elevated attention is warranted.
Nearby headquarters and corporate offices in energy and distribution provide a diversified employment base that supports renter demand and commute convenience for residents. The following employers anchor area job centers within a roughly 8 miles to 13 miles radius.
- Conocophillips energy HQ & corporate (8.3 miles) HQ
- Sysco food distribution corporate (8.7 miles) HQ
- Phillips 66 energy HQ & corporate (12.4 miles) HQ
- Group 1 Automotive auto retail corporate (12.8 miles) HQ
- Emerson Process Management industrial automation offices (13.0 miles)
This 120-unit, 2011-vintage asset benefits from strong neighborhood fundamentals, including top-quartile occupancy nationally and competitive amenity access that underpins day-to-day livability. The property is slightly older than the area s predominantly newer stock, creating a clear value-add path through selective unit and common-area updates to enhance positioning against recent deliveries. According to commercial real estate analysis from WDSuite, rent levels and rent-to-income dynamics indicate manageable affordability pressure, which can support renewal rates and revenue consistency when paired with disciplined lease management.
Within a 3-mile radius, recent population growth, a double-digit increase in households, and forecasts for substantial household gains through 2028 point to a larger tenant base and durable demand for rentals. Income growth trends further support absorption and retention for well-operated communities, while proximity to multiple headquarters and corporate employers expands the resident pipeline across professional and skilled labor segments. Key risks to underwrite include comparative safety metrics that warrant active property management and the potential for some competition from ownership given mid-range home values.
- Top-quartile neighborhood occupancy supports income durability
- 2011 vintage with value-add potential versus newer local supply
- 3-mile area shows growing households and incomes, expanding the renter pool
- Nearby corporate employers reinforce commute convenience and leasing depth
- Risks: below-average national safety standing and some competition from ownership options