| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 56th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3141 Highway 146 S, La Porte, TX, 77571, US |
| Region / Metro | La Porte |
| Year of Construction | 1976 |
| Units | 46 |
| Transaction Date | 2016-05-06 |
| Transaction Price | $1,781,300 |
| Buyer | NIELSEN PROPERTIES II LLC |
| Seller | KBC MAVERICK LLC |
3141 Highway 146 S La Porte Multifamily Investment
Neighborhood occupancy has held near the metro middle and renter demand is supported by nearby industrial and corporate employment, according to WDSuite’s CRE market data. For investors, this points to steady leasing fundamentals with room to optimize operations rather than reliance on outsized rent growth.
This Inner Suburb location in La Porte sits within the Houston-The Woodlands-Sugar Land metro and rates C+ overall. At 1021 out of 1,491 metro neighborhoods, it trails the metro median, but leasing trends are steady: neighborhood occupancy is around the national middle, indicating generally stable demand rather than volatility.
Renter-occupied housing represents a meaningful share of the neighborhood’s unit mix (above the national median by percentile), suggesting a workable tenant base for multifamily owners. Within a 3-mile radius, demographics show recent population growth with additional gains projected, which supports a larger tenant base over time and helps underpin occupancy. Household incomes have risen, and rents have advanced at a measured pace — dynamics that can support retention with disciplined lease management.
Local amenity density is limited for cafes, restaurants, parks, and pharmacies, while grocery access scores above the national average. For investors, this means the value proposition leans more on access to employment corridors than on lifestyle retail. Home values are relatively accessible for the region, which can create some competition with ownership; however, current rent-to-income levels in the neighborhood point to manageable affordability pressure and pragmatic pricing power.
Vintage across the neighborhood skews older than the subject property. Built in 1976, the asset is newer than the area’s average construction year, which can be a competitive edge versus older stock, while still warranting targeted capital planning for systems and modernization to meet current renter expectations.
Safety indicators are mixed. The neighborhood ranks 573 out of 1,491 Houston-area neighborhoods for crime, which is competitive among Houston neighborhoods but sits below the national median for safety. Recent trends point to a notable decline in violent incidents year over year, while property offenses have shown volatility. Investors should underwrite with conservative assumptions, prioritize basic security measures, and monitor trajectory rather than relying on a single-year snapshot.
Proximity to corporate offices supports commute convenience and renter retention. The nearby employment base includes Calpine Turbine Maintenance Group, Boeing, Air Products, Dish Network, and Waste Management.
- Calpine Turbine Maintenance Group — corporate offices (3.5 miles)
- Boeing: Bay Area Building — corporate offices (5.5 miles)
- Air Products — corporate offices (9.1 miles)
- Dish Network — corporate offices (19.8 miles)
- Waste Management — corporate offices (22.7 miles) — HQ
The investment case centers on stable neighborhood leasing, a meaningful renter base, and proximity to established employment nodes. Neighborhood occupancy trends sit near the national middle, and within a 3-mile radius, population and household counts have grown with additional gains projected — conditions that tend to support tenant retention and reduce lease-up risk. According to CRE market data from WDSuite, local rent levels and rent-to-income dynamics point to manageable affordability pressure, allowing for disciplined, incremental pricing rather than aggressive pushes.
Constructed in 1976, the property is newer than the neighborhood’s average vintage, positioning it competitively versus older stock while still benefiting from targeted value-add or systems modernization. The submarket’s amenity-light profile means demand is more tethered to employment access than lifestyle retail, and crime indicators are mixed, so underwriting should include prudent reserves and security planning.
- Steady neighborhood occupancy supports leasing stability and retention
- 3-mile population and household growth expands the tenant base over time
- 1976 vintage offers a competitive edge versus older area stock with targeted value-add potential
- Manageable rent-to-income dynamics support measured, data-driven pricing
- Risks: amenity-light location and mixed safety trends warrant conservative underwriting and security focus