| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 55th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5238 Tallowwood Ter, Katy, TX, 77493, US |
| Region / Metro | Katy |
| Year of Construction | 1985 |
| Units | 68 |
| Transaction Date | 2022-04-29 |
| Transaction Price | $17,423,000 |
| Buyer | MOSAIC PINEVIEW LP |
| Seller | PINEVIEW TERRACE I LP |
5238 Tallowwood Ter, Katy TX Multifamily Investment
Positioned in a suburban pocket of Katy within the Houston metro, this 68-unit asset offers occupancy stability supported by higher-income households and growing renter demand, according to WDSuite s CRE market data.
Katy s suburban setting delivers family-oriented fundamentals with steady renter demand and a generally car-oriented lifestyle. Neighborhood occupancy is strong relative to national patterns, and parks access sits in the upper tiers nationally, reinforcing day-to-day livability. At the same time, immediate retail, grocery, and cafe density is limited in the neighborhood, so most errands will require short drives to nearby corridors.
The property s 1985 vintage is older than the neighborhood s predominantly newer housing stock, which trends toward late-2010s construction. That age gap suggests potential value-add through renovations and systems modernization, while competing favorably on price point against newer deliveries.
Within a 3-mile radius, household incomes are solid with a sizable upper-middle income segment, which supports rent collections and renewal potential. Renter-occupied housing represents about 31% of units in this 3-mile area, indicating a meaningful tenant base without overwhelming supply exposure. Median contract rents in the 3-mile radius have trended upward over the last five years, signaling durable pricing power, while the neighborhood s rent-to-income levels remain manageable in investor terms.
Education quality is mixed, with neighborhood average school ratings near the national midpoint, which attracts a range of households but may temper top-of-market premiums. Compared with other Houston-The Woodlands-Sugar Land neighborhoods (1,491 total), overall livability metrics are competitive in parks access (around the 72nd national percentile) but below average in immediate amenity density; investors should underwrite convenience as primarily auto-centric.
Safety indicators for the neighborhood are mixed when benchmarked against U.S. neighborhoods. The area sits below national safety percentiles overall, with violent offense rates positioned in lower national percentiles, while recent property offense rates have been relatively steady year over year according to WDSuite s CRE market data.
Within the Houston-The Woodlands-Sugar Land metro (1,491 neighborhoods total), the neighborhood falls below the metro median for safety, which warrants conservative underwriting on security measures and insurance assumptions. Investors typically mitigate this with lighting, access control, and resident engagement to support retention and asset performance over time.
Proximity to major energy and corporate services employers supports a durable renter pool and commute convenience for working professionals. Nearby anchors include ConocoPhillips, Sysco, Phillips 66, Emerson Process Management, and Group 1 Automotive.
- Conocophillips corporate offices (11.8 miles) HQ
- Sysco corporate offices (12.2 miles) HQ
- Phillips 66 corporate offices (15.9 miles) HQ
- Emerson Process Management corporate offices (16.2 miles)
- Group 1 Automotive corporate offices (16.3 miles) HQ
5238 Tallowwood Ter offers investors a suburban Katy location with a balanced renter base and income depth. Neighborhood occupancy is solid and rent-to-income metrics imply manageable affordability pressure, which supports retention. The 1985 vintage creates clear value-add pathways interiors, common areas, and building systems to compete against a newer local stock while maintaining a relative pricing edge. According to CRE market data from WDSuite, nearby parks access outperforms national medians while immediate retail density is thin, suggesting a car-oriented resident profile and stable leasing from commuting households.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, expanding the tenant base over the medium term. Higher median household incomes and an expanding share of renter-occupied units point to demand depth for renovated, professionally managed product. Underwrite for routine capex and thoughtful security/operations to align with neighborhood safety benchmarks and sustain performance.
- Suburban Katy location with solid neighborhood occupancy and income depth supporting lease stability
- 1985 vintage provides value-add upside through renovations and systems upgrades versus newer local stock
- Expanding 3-mile renter pool and population growth underpin long-term demand
- Parks access above national medians; auto-oriented convenience near major employers supports retention
- Key risks: below-median safety relative to metro and limited immediate amenity density; budget for security and resident convenience