| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 33rd | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 909 Birnham Woods Blvd, Pasadena, TX, 77503, US |
| Region / Metro | Pasadena |
| Year of Construction | 1979 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
909 Birnham Woods Blvd Pasadena Multifamily Investment
Neighborhood occupancy trends are resilient and support steady leasing, according to WDSuite’s CRE market data, with investor focus on durable renter demand rather than outsized rent growth from this inner-suburban location backed by practical access to Houston job centers and services from Pasadena.
This Inner Suburb neighborhood in the Houston-The Woodlands-Sugar Land metro carries a C+ rating and shows solid occupancy fundamentals: the neighborhood7s occupancy sits in the top quartile nationally and is competitive among Houston neighborhoods (479th among 1,491), per WDSuite. Median contract rents in the area have risen over the past five years, while the rent-to-income profile suggests manageable affordability, supporting retention and steady collections.
Daily-needs access is serviceable: grocery availability ranks above national averages (around the 71st percentile), and restaurants are comparatively dense (about the 67th percentile). The area is thinner on destination amenities like parks, pharmacies, and cafes, which may limit lifestyle appeal but tends to align with workforce housing demand profiles. Average school ratings sit near the national median, which helps sustain baseline family renter demand without commanding premium pricing.
Within a 3-mile radius, demographics point to a stable renter base: roughly 43% of housing units are renter-occupied, indicating depth for multifamily leasing. Over the past five years, population edged down modestly while household counts were comparatively steady, implying smaller average household sizes and an incremental shift toward households rather than larger family groupings. Projections within 3 miles indicate more households and smaller average household sizes ahead, which typically expands the renter pool and supports occupancy stability. These dynamics, combined with neighborhood rent levels, present a pragmatic demand backdrop for multifamily property research.
Vintage is a consideration: the property7s 1979 construction predates the neighborhood7s average vintage (mid-1980s), suggesting capital planning for building systems and common areas could unlock value-add potential and improve competitive positioning against slightly newer stock.
Safety metrics for the neighborhood are mixed. Property-related offenses benchmark favorably, landing in the top decile nationally, while overall crime conditions track somewhat better than the national midpoint, according to WDSuite7s data. Violent-crime measures are comparatively stronger as well (top quartile nationally), though recent year-over-year trends show some volatility that investors should monitor.
For underwriting, a practical takeaway is that current comparative standings are generally favorable versus national norms, but trend direction (particularly recent changes in violent offense rates) warrants periodic review alongside local management practices and security enhancements. These statements reflect neighborhood-level conditions rather than any specific block or asset.
Proximity to major employers supports workforce housing dynamics and commute convenience for renters, including Boeing, Calpine Turbine Maintenance Group, Air Products, Waste Management, and Calpine. This employer base underpins day-to-day leasing and can aid retention.
- Boeing: Bay Area Building — aerospace offices (8.1 miles)
- Calpine Turbine Maintenance Group — energy services (8.3 miles)
- Air Products — industrial gases (9.1 miles)
- Waste Management — environmental services (13.1 miles) — HQ
- Calpine — energy (13.2 miles) — HQ
This 44-unit asset benefits from durable neighborhood occupancy that ranks in the top quartile nationally and remains competitive within the Houston metro, supporting stable leasing and collections. Within 3 miles, a sizable renter-occupied share and projections for more households with smaller average household sizes point to a broader tenant base over time. According to CRE market data from WDSuite, area rent levels and rent-to-income dynamics indicate manageable affordability, reinforcing steady demand rather than dependence on aggressive rent growth.
Constructed in 1979, the property is slightly older than the neighborhood average vintage, creating a clear value-add pathway through targeted renovations and system upgrades to sharpen its position against mid-1980s stock. Ownership housing remains relatively accessible in this submarket, which can moderate pricing power; however, proximity to large employment nodes and consistent neighborhood occupancy trends provide a counterweight that supports leasing stability.
- Occupancy performance competitive in metro and top quartile nationally supports cash flow stability.
- 3-mile demographics indicate a sizable renter pool with more households and smaller sizes, aiding demand depth.
- 1979 vintage offers value-add upside via interior refreshes and building system improvements.
- Employer proximity across aerospace and energy sectors supports retention and leasing velocity.
- Risk: relatively accessible ownership options may temper rent growth, requiring disciplined asset management.