| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 21st | Poor |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 S Allen Genoa Rd, South Houston, TX, 77587, US |
| Region / Metro | South Houston |
| Year of Construction | 1972 |
| Units | 110 |
| Transaction Date | 2005-08-31 |
| Transaction Price | $2,712,500 |
| Buyer | LINEBACKER PROPERTY 5 LLC |
| Seller | OSD LLC |
801 S Allen Genoa Rd South Houston Multifamily Investment
Renter concentration is high in the immediate neighborhood, supporting a deeper tenant base even as occupancy trends run below the metro, according to WDSuite’s CRE market data. Strong grocery and restaurant density nearby points to everyday convenience that can aid retention in an operational, not luxury, positioning.
The property sits in an Inner Suburb location within the Houston-The Woodlands-Sugar Land metro. Neighborhood occupancy is below the metro median among 1,491 neighborhoods, so underwriting should emphasize leasing execution and renewal management rather than aggressive near-term rent lifts. At the same time, renter-occupied housing is concentrated locally (measured as the share of units that are renter-occupied), indicating a sizable tenant pool and steady leasing velocity for workforce product.
Amenity access is mixed. Grocery and pharmacy density rank in top national percentiles, while restaurants are also abundant, which supports daily needs and service employment access. In contrast, parks, cafes, and childcare are sparse. For investors, this suggests a pragmatic livability profile that benefits from necessities and employment linkages, but fewer discretionary lifestyle draws.
Within a 3-mile radius, demographics show modest population contraction alongside a small increase in households and a trend toward smaller household sizes. That pattern typically supports multifamily demand by bringing more households into the market even with flat or declining population, expanding the renter pool and helping stabilize occupancy over time. Median incomes are rising, and rent levels in the neighborhood sit in a value segment relative to many Houston submarkets, which can help sustain demand while keeping rent-to-income pressures manageable for lease retention.
The average residence in the neighborhood skews newer than this asset (1988 neighborhood average versus a 1972 construction year). Older vintage points to clear value-add and capital planning opportunities—modernizations and system upgrades can sharpen competitive positioning against newer stock and support durable occupancy at attainable price points.
Safety indicators are mixed but comparatively positioned. The neighborhood ranks competitive among Houston-The Woodlands-Sugar Land neighborhoods (378 out of 1,491) and sits in the top quartile nationally for lower violent offense exposure, while property offense metrics are better than national midline but warrant monitoring. Recent year-over-year data show a notable uptick in property offenses, so investors should factor trend volatility into asset protection budgets and resident-experience planning.
- Boeing — aerospace (8.0 miles)
- Calpine Turbine Maintenance Group — energy services (9.2 miles)
- Waste Management — environmental services (11.5 miles) — HQ
- Kinder Morgan — midstream energy (11.7 miles) — HQ
- CenterPoint Energy — utilities (11.7 miles) — HQ
Nearby employers span aerospace and energy/utilities, supporting a broad workforce renter base and commute convenience that can aid retention. Specifically, Boeing, Calpine Turbine Maintenance Group, Waste Management, Kinder Morgan, and CenterPoint Energy are within a commutable radius.
This 110-unit, 1972-vintage asset in South Houston competes in a renter-heavy neighborhood that offers everyday convenience and broad employment access, but with occupancy running below the metro median. The older vintage suggests clear value-add levers—unit renovations and building system upgrades—to improve competitive standing against newer local stock while maintaining an attainable price point for a large workforce renter base.
According to CRE market data from WDSuite, the neighborhood shows high renter-occupied share, strong grocery/restaurant density, and a safety profile that is comparatively favorable on violent offenses, although recent property offense trends should be monitored. Within a 3-mile radius, a rising household count and smaller household sizes point to a larger tenant base over time, supporting leasing stability if operations focus on renewals and service quality.
- Renter-heavy neighborhood supports depth of tenant demand and steady leasing.
- 1972 vintage offers value-add potential via interior upgrades and system improvements.
- Strong grocery/restaurant presence and access to major employers bolster retention.
- Household growth within 3 miles and smaller household sizes support occupancy stability.
- Risks: below-metro occupancy, limited parks/cafes, and recent property crime volatility require conservative underwriting.