| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 56th | Good |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1201 S Broadway St, La Porte, TX, 77571, US |
| Region / Metro | La Porte |
| Year of Construction | 2002 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1201 S Broadway St La Porte 72-Unit Multifamily
Newer 2002 construction competes well against older local stock and is positioned to capture steady renter demand as nearby households and incomes rise, according to WDSuite’s CRE market data.
Located in suburban La Porte within the Houston-The Woodlands-Sugar Land metro, the property benefits from a neighborhood tenant base that skews more owner-occupied, with a renter-occupied share around one-third. For investors, that points to a moderate but resilient pool of multifamily demand that supports lease-up and renewal, rather than heavy turnover.
The area’s average building vintage trends older than this asset (neighborhood average late-1960s versus the property’s 2002). This relative youth can reduce near-term capital exposure versus older comparables and supports competitive positioning; investors should still plan for system updates and selective modernization typical for early-2000s buildings.
Neighborhood occupancy is around nine-tenths, indicating baseline leasing stability. Restaurant density is comparatively strong locally (competitive among metro peers), while daily-needs amenities like groceries, pharmacies, and parks are thinner in the immediate blocks. Average school ratings sit slightly above national medians, a positive for family renters.
Demographics within a 3-mile radius indicate population and household growth over the last five years, with additional gains projected. Rising household incomes alongside a manageable rent-to-income profile, based on CRE market data from WDSuite, support retention and pricing discipline. Forecasts also point to smaller average household sizes, which can favor smaller floor plans; the property’s compact average unit size aligns with that demand profile.
Safety indicators for the immediate neighborhood track below national averages, with rankings also below the metro median among 1,491 Houston-area neighborhoods. This suggests investors should underwrite prudent security measures and tenant communication protocols.
Recent year estimates show an uptick in both property and violent offense rates locally. While conditions can vary block to block and change over time, the directional trend warrants attention to onsite lighting, access controls, and partnerships with local law enforcement as part of risk management.
Proximity to energy, aerospace, and industrial employers supports a stable workforce renter base and commute convenience for residents. Key nearby employers include Calpine Turbine Maintenance Group, Boeing’s Bay Area operations, Air Products, and major downtown Houston corporate offices such as Waste Management and Calpine.
- Calpine Turbine Maintenance Group — energy services (4.4 miles)
- Boeing: Bay Area Building — aerospace offices (6.4 miles)
- Air Products — industrial gases (7.4 miles)
- Waste Management — environmental services (22.0 miles) — HQ
- Calpine — power generation (22.2 miles) — HQ
This 72-unit, 2002-vintage asset offers relative competitive strength versus older neighborhood stock while tapping a renter base supported by steady occupancy and 3-mile population and household growth. According to CRE market data from WDSuite, neighborhood rents align with incomes, reinforcing retention and giving room for disciplined pricing rather than concession-heavy strategies.
The unit mix’s compact average size fits projected trends toward smaller households, potentially aiding absorption. Investors should balance these positives against thinner nearby daily-needs amenities and safety metrics that sit below metro and national norms, underwriting for security and targeted capital plans such as unit refreshes and system updates typical for early-2000s construction.
- 2002 construction competes well against older neighborhood stock, with manageable modernization needs
- Steady neighborhood occupancy supports baseline leasing and renewal performance
- 3-mile growth in population and households expands the tenant base and supports absorption
- Rent levels align with local incomes, aiding retention and pricing discipline
- Risks: thinner daily-needs amenities nearby and below-average safety indicators require proactive management