| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 21st | Poor |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 Halkies St, South Houston, TX, 77587, US |
| Region / Metro | South Houston |
| Year of Construction | 1980 |
| Units | 72 |
| Transaction Date | 2007-04-11 |
| Transaction Price | $2,860,000 |
| Buyer | MCLEAN INVESTMENTS LLC |
| Seller | APARTMENTS AT GEMINI GARDENS LLC |
301 Halkies St South Houston Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy trends indicate steady, working-class demand according to CRE market data from WDSuite. Pricing remains oriented to value, positioning the asset for durable leasing performance in South Houston.
Located in an inner-suburb pocket of the Houston-The Woodlands-Sugar Land metro, the neighborhood shows solid everyday conveniences: high density of grocery stores and pharmacies (both strong nationally) alongside a wide mix of restaurants, per WDSuite s CRE market data. However, limited parks, cafes, and childcare options locally suggest residents rely on nearby submarkets for certain amenities a common pattern for workforce corridors.
Renter-occupied housing represents a large share of neighborhood units (74.7%), indicating depth in the local tenant pool and supporting multifamily absorption. Neighborhood occupancy is measured at 89.0% and should be viewed alongside this renter concentration as a signal of ongoing demand, though operators may need to focus on retention and lease management for consistency through cycles.
Within a 3-mile radius, recent population trends show a modest decline while household counts edged up and are forecast to grow further, with smaller average household sizes. For investors, that points to a gradually expanding renter base composed of more, smaller households a setup that can support occupancy stability and consistent leasing for appropriately sized units.
Home values in the neighborhood sit at lower levels for the metro context, which can introduce some competition from ownership options. Even so, a rent-to-income profile around local norms suggests attainable rents that can sustain leasing velocity, with pricing power most likely earned through operational execution and targeted upgrades rather than outsized increases.
The property s 1980 vintage is slightly older than the neighborhood s average construction year (1988). That age differential points to clear value-add and capital planning angles from unit interior refreshes to systems modernization to strengthen competitive position against newer stock while managing long-term maintenance risk.
Safety indicators for the neighborhood are competitive within the Houston-The Woodlands-Sugar Land metro, placing it competitive among 1,491 metro neighborhoods. Nationally, violent-offense estimates align with the top quartile for safety, and property-offense estimates also rate favorably versus many neighborhoods across the country.
That said, one-year estimates show a sharp increase in property offenses, so trend monitoring is warranted. Operators may want to align on-site practices with resident expectations and coordinate with local resources to support leasing stability and retention over time.
The area benefits from proximity to major energy and industrial employers that underpin steady workforce housing demand and commuting convenience, including Boeing, Calpine Turbine Maintenance Group, Waste Management, Calpine, and CenterPoint Energy.
- Boeing aerospace offices (8.7 miles)
- Calpine Turbine Maintenance Group power generation services (9.8 miles)
- Waste Management environmental services (10.7 miles) HQ
- Calpine independent power producer (11.0 miles) HQ
- CenterPoint Energy utilities (11.0 miles) HQ
This 72-unit asset offers workforce-oriented exposure supported by a high share of renter-occupied housing in the surrounding neighborhood and steady neighborhood occupancy. According to CRE market data from WDSuite, local amenities skew toward daily needs (notably groceries and pharmacies), which reinforces livability and supports leasing consistency for value-focused product.
Built in 1980, the property is modestly older than the neighborhood s average stock. That positioning creates clear value-add potential through unit and system upgrades, while the 3-mile trade area s shift toward more, smaller households suggests a durable renter pipeline. Investors should balance these strengths against signs of elevated property-offense volatility and potential competition from relatively accessible ownership options, managing pricing through operations and targeted improvements rather than aggressive rent pushes.
- High renter-occupied share supports a deep tenant base and occupancy stability.
- Daily-needs amenity density (grocers/pharmacies) aligns with workforce demand and retention.
- 1980 vintage offers value-add potential via interior refreshes and systems modernization.
- Risks: recent uptick in property-offense estimates and competition from ownership options may temper pricing power.