| 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 competitive for the Houston metro, supporting stable leasing fundamentals for a 44‑unit asset, according to WDSuite’s CRE market data.
Located in an Inner Suburb of the Houston–The Woodlands–Sugar Land metro, the surrounding neighborhood carries a C+ rating and shows solid renter demand signals. Neighborhood occupancy is 95.6% and ranks 479 of 1,491 metro neighborhoods — competitive among Houston neighborhoods and supportive of income stability, per WDSuite. Median contract rents in the neighborhood sit above the national mid-point (64th percentile), suggesting room for revenue management while remaining approachable for a broad tenant base.
Livability is mixed but workable for workforce renters. Grocery access is comparatively strong (71st percentile nationally), while cafes, parks, and pharmacies are limited at the neighborhood scale. Average school ratings land near national mid-pack (about the 52nd percentile), offering basic coverage without commanding a premium positioning.
Vintage matters: the property’s 1979 construction is somewhat older than the neighborhood’s average 1985 stock, implying potential value‑add through interior upgrades and systems modernization, alongside prudent capital planning. The renter‑occupied share at the neighborhood level is roughly three in ten units, indicating a meaningful but not dominant renter concentration; within a 3‑mile radius, renters account for about 43% of housing units, which broadens the tenant base for multifamily.
Demographics aggregated within a 3‑mile radius point to a modest population decline over the past five years with household counts essentially flat, while incomes have risen. Looking forward, projections indicate a notable increase in household counts by 2028 alongside smaller average household sizes — a combination that can expand the renter pool and support occupancy resilience. In a metro context, home values in this neighborhood cluster sit below national medians (26th percentile), which can introduce some competition from entry‑level ownership; however, rent‑to‑income remains manageable (about one‑fifth), aiding retention and lease stability.
Safety signals are mixed and should be monitored. On a metro rank where lower ranks indicate more reported crime, the neighborhood sits at 363 out of 1,491, placing it closer to higher‑incidence areas within Houston. However, in national comparisons the neighborhood performs better than many peers: property offense metrics are in the top quartile nationally (around the 93rd percentile), and violent offense measures trend above the national median (about the 71st percentile), based on WDSuite’s datasets.
Recent trends are uneven: violent offense rates have risen year over year (a weaker signal, with change rates in lower national percentiles), while property offenses show a modest decline. Investors may wish to incorporate security measures and loss‑prevention practices into underwriting and operations, and track trajectory rather than any single datapoint.
Proximity to major employers underpins workforce renter demand and commute convenience, led by aerospace, energy services, industrial gases, waste services, and power generation employers.
- Boeing: Bay Area Building — aerospace (8.0 miles)
- Calpine Turbine Maintenance Group — power generation services (8.3 miles)
- Air Products — industrial gases (9.1 miles)
- Waste Management — waste services (13.1 miles) — HQ
- Calpine — power generation (13.3 miles) — HQ
This 44‑unit, 1979 vintage asset is positioned for durable, needs‑based renter demand supported by competitive neighborhood occupancy and a diversified employment base within a commutable radius. According to CRE market data from WDSuite, the neighborhood’s occupancy level sits in the stronger tier of Houston submarkets, while rents align near the national mid‑range — a backdrop that favors steady collections with potential to capture incremental rent via targeted renovations. The vintage suggests clear value‑add avenues (interior updates, energy and systems optimization) to enhance competitive standing versus newer stock.
Within a 3‑mile radius, rising incomes, stable recent household counts, and projections for a meaningful increase in households alongside smaller household sizes point to a larger tenant base over time. Home values are comparatively accessible in this part of Harris County, which can introduce some competition from ownership; even so, rent‑to‑income levels near one‑fifth support retention and leasing stability when paired with pragmatic pricing and asset management. Key risks to underwrite include mixed safety trends and limited lifestyle amenities at the immediate neighborhood scale.
- Competitive neighborhood occupancy supports income stability and leasing resilience.
- 1979 vintage offers value‑add potential through targeted renovations and systems upgrades.
- Workforce‑driven employment base within ~8–13 miles underpins steady renter demand.
- Manageable rent‑to‑income dynamics aid retention and measured rent growth.
- Risks: mixed crime trends and fewer lifestyle amenities warrant conservative underwriting and active asset management.