| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 55th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5240 Tallowpine Ter, Katy, TX, 77493, US |
| Region / Metro | Katy |
| Year of Construction | 1985 |
| Units | 120 |
| Transaction Date | 2011-05-31 |
| Transaction Price | $4,700,000 |
| Buyer | Whitney, Mgt, Corp. |
| Seller | Pineview Terrace I Limited |
5240 Tallowpine Ter, Katy TX Multifamily Opportunity
Stabilized neighborhood occupancy and a growing renter pool within 3 miles point to durable tenant demand, according to WDSuite’s CRE market data. 1985 vintage provides potential value-add upside versus newer nearby stock.
Katy’s suburban setting offers family-oriented living with parks access that trends above national norms, while daily retail and dining are limited within the immediate neighborhood footprint. School ratings sit near the national median, supporting broad appeal without commanding premium pricing.
At the neighborhood level, occupancy performance is competitive among Houston-The Woodlands-Sugar Land neighborhoods (ranked 591 of 1,491), which supports revenue stability through cycles. Median contract rents in the area track above many U.S. neighborhoods, and rent-to-income levels remain manageable, helping lease retention and reducing delinquency risk.
Construction in the surrounding neighborhood skews newer (average 2018). This property’s 1985 vintage is older than much of the competitive set, suggesting clear renovation and repositioning levers to defend occupancy and widen the renter funnel. Framing this as a value-add path rather than a requirement keeps capital planning disciplined.
Within a 3-mile radius, population and household counts have expanded and are projected to continue rising, indicating a larger tenant base over the next five years. Renter-occupied housing makes up roughly one-third of units in this radius, providing a diversified demand pool for multifamily operators while still benefiting from strong incomes typical of the Katy area based on CRE market data from WDSuite.
Safety indicators sit below the national median, and the neighborhood ranks around the middle of the Houston metro (748 of 1,491). Recent estimates point to a year-over-year increase in violent offenses while property offenses have held roughly flat. For investors, this argues for emphasizing lighting, access control, and active management to support resident confidence and retention.
- Conocophillips — energy HQ (11.7 miles) — HQ
- Sysco — food distribution HQ (12.1 miles) — HQ
- Phillips 66 — energy HQ (15.8 miles) — HQ
- Emerson Process Management — engineering (16.1 miles)
- Group 1 Automotive — automotive retail HQ (16.2 miles) — HQ
Proximity to major energy and corporate services employers supports workforce housing demand and commute convenience for residents, with concentrations in oil & gas, food distribution, and automotive retail operations.
The property’s 1985 vintage positions it for targeted upgrades relative to a neighborhood stock that skews newer, creating a path to enhance curb appeal, amenities, and in-unit finishes while defending occupancy. Neighborhood occupancy trends are competitive within the Houston metro, and household incomes in the 3-mile radius support rent levels without acute affordability pressure, aiding retention.
Population and household growth within 3 miles point to a larger renter base and sustained leasing momentum over the next five years. According to commercial real estate analysis from WDSuite, this submarket’s rent and occupancy dynamics compare favorably to many national peers, and the local employer base adds depth to demand.
- Competitive neighborhood occupancy supports income stability versus metro peers.
- 1985 vintage offers clear value-add levers versus newer nearby construction.
- 3-mile population and household growth expand the tenant base and leasing depth.
- Proximity to major energy and services employers underpins workforce housing demand.
- Risks: limited immediate retail/amenities and below-median safety metrics require proactive property management and resident-focused programming.