| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 55th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2508 Avenue D, Katy, TX, 77493, US |
| Region / Metro | Katy |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2008-02-08 |
| Transaction Price | $1,500,000 |
| Buyer | G & A INTEREST LLC |
| Seller | POK LLC |
2508 Avenue D Katy Multifamily Investment Opportunity
Positioned in a suburban pocket of Katy with mid-90s neighborhood occupancy, this 24-unit asset offers value-add potential in an owner-leaning area. Neighborhood rent levels and retention dynamics track stable, according to WDSuites CRE market data.
The property sits in a suburban Katy location within the Houston-The Woodlands-Sugar Land metro. Neighborhood occupancy is 94.5%, and while it has softened modestly over five years, it remains consistent with stable leasing conditions for comparable assets. Parks access stands above many peers (around the 72nd percentile nationally), but day-to-day amenities inside the immediate neighborhood are limited, suggesting residents commonly rely on nearby corridors for groceries, dining, and services.
School quality is competitive among Houston neighborhoods (ranked 362 of 1,491 in the metro), and neighborhood demographics benchmark slightly above national medians. The areas amenity rank (1,195 of 1,491) places it below the metro median for retail and food options, which can influence marketing toward car-reliant renters and emphasize proximity to commuter routes rather than walkability.
The building was constructed in 1983, notably older than the neighborhoods newer average vintage (2018). For investors, that typically points to capital planning needs and potential renovation upside to enhance competitiveness versus newer nearby product. Renter-occupied share in the neighborhood is relatively low (owner-weighted), signaling a shallower immediate renter base but also potential durability for well-positioned workforce housing.
Within a 3-mile radius, population and household counts have grown over the past five years and are projected to continue expanding through 2028, supporting a larger tenant base over time. Forecasts also indicate smaller average household sizes, which can sustain demand for efficient floor plans. These dynamics align with investor expectations for steady renter pool expansion, based on multifamily property research from WDSuite.
Home values in the neighborhood are elevated relative to many U.S. areas, while the rent-to-income ratio trends near 0.14. For investors, this combination suggests generally manageable affordability pressure that can support retention, with the caveat that ownership remains relatively accessible and could compete with rentals at certain price points.
Crime indicators for the neighborhood sit near the metro median (ranked 748 of 1,491 among Houston neighborhoods). Compared with neighborhoods nationwide, safety benchmarks are below average (lower national percentiles), indicating investors should underwrite prudent security measures and property management oversight. Recent data also show an increase in violent-offense estimates year over year, reinforcing the case for operational risk management rather than relying on block-level assumptions.
Nearby employment is anchored by energy, food distribution, industrial automation, and auto retail headquarters and offices, supporting workforce housing demand and commute convenience for renters. The employers below are within a commutable radius and can help underpin leasing stability in this submarket.
- Conocophillips — energy (12.5 miles) — HQ
- Sysco — food distribution (12.8 miles) — HQ
- Phillips 66 — energy (16.5 miles) — HQ
- Emerson Process Management — industrial automation (17.0 miles)
- Group 1 Automotive — auto retail (17.0 miles) — HQ
At 24 units with an average floor plan around 440 sq ft, 2508 Avenue D is positioned to serve renters seeking efficient layouts in a suburban Katy setting. The 1983 vintage is older than much of the surrounding stock, creating a clear avenue for value-add upgrades to improve competitive standing against newer deliveries. Neighborhood occupancy remains in the mid-90s and rent-to-income levels indicate manageable affordability pressure, which can support retention and steady absorption.
Within a 3-mile radius, population and household growth over the past five years—and additional gains forecast through 2028—point to a larger tenant base and potential renter pool expansion. According to CRE market data from WDSuite, the immediate neighborhood has a lower renter concentration, but forecasts call for rising renter share in the broader trade area, which can reinforce demand as units are modernized. Investors should balance this outlook with amenity-light local dynamics and safety benchmarking that sits below national averages.
- 1983 vintage supports value-add strategy to compete with newer submarket stock
- Mid-90s neighborhood occupancy and modest rent-to-income ratio support retention
- 3-mile radius shows population and household growth, expanding the renter base
- Smaller average unit size aligns with demand for efficient, workforce-oriented housing
- Risks: sparse nearby amenities and below-average national safety metrics warrant conservative underwriting