| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 70th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1107 Lovett St, Tomball, TX, 77375, US |
| Region / Metro | Tomball |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | 2011-12-05 |
| Transaction Price | $700,000 |
| Buyer | LOVETT TOWN & COUNTRY LLC |
| Seller | GALDENZI WALTER |
1107 Lovett St, Tomball TX Multifamily with Value-Add Upside
Suburban fundamentals point to steady renter demand, with neighborhood occupancy around the metro median and highly rated schools supporting retention, according to WDSuite’s commercial real estate analysis. The asset’s older vintage relative to nearby stock suggests actionable renovation upside without relying on speculative lease-up.
Located in suburban Tomball within the Houston-The Woodlands-Sugar Land metro, the neighborhood rates A- and ranks 267 out of 1,491 metro neighborhoods, placing it above the metro median. Park access sits in the top quartile nationally, while cafés are competitive versus U.S. peers; restaurants and grocery options are around national midpoints. Pharmacy and childcare density is comparatively thin, which investors should consider when positioning amenities and services.
School quality is a notable strength: the neighborhood’s average school rating ranks 1 out of 1,491 in the metro and sits at the top percentile nationally, an attribute that typically supports family renter retention and stable leasing. Neighborhood occupancy is around national midpoints, suggesting balanced supply-demand.
Within a 3-mile radius, population and households have grown meaningfully in recent years with forecasts pointing to continued expansion through 2028. This trajectory implies a larger tenant base and supports occupancy stability and leasing velocity. Renter-occupied housing comprises roughly a third of units within this radius, indicating a sizable renter pool even as ownership remains the majority—favorable for multifamily demand depth without overreliance on transient renters.
Home values are elevated for the area and above national midpoints, reinforcing renter reliance on multifamily housing and aiding pricing power. At the same time, neighborhood rent-to-income ratios track near national midpoints, which can help manage affordability pressure and support renewal rates.
Safety indicators are mixed but trending better. The neighborhood is competitive among Houston neighborhoods (ranked 494 out of 1,491), with overall safety near the national midrange (around the 45th percentile). Violent offense levels benchmark below national averages (around the 21st percentile), though recent trend data show year-over-year declines in both property and violent offenses, according to CRE market data from WDSuite. Investors should underwrite to neighborhood-level trends rather than block-level assumptions and incorporate standard security measures in capital plans.
Nearby employment centers in North Houston support commuter convenience and a stable renter base, particularly for workforce and professional households tied to energy and tech services. Notable employers include Hewlett Packard Enterprise, McKesson Specialty Health, Anadarko Petroleum, CenterPoint Energy, and Enterprise Products.
- Hewlett Packard Enterprise Customer Engagement Center — technology services (8.3 miles)
- McKesson Specialty Health — healthcare services (9.5 miles)
- Anadarko Petroleum — energy (9.7 miles) — HQ
- Centerpoint Energy — utilities (11.8 miles)
- Enterprise Products — midstream energy (14.1 miles)
This 30-unit property, built in 1983, is older than the neighborhood’s more recent housing stock, pointing to clear value-add and capital planning opportunities to improve competitive positioning against 2000s-era assets. Strengths include top-tier local schools, expanding 3-mile household counts that enlarge the renter pool, and ownership costs that help sustain multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy is near national midpoints, suggesting a stable backdrop for steady leasing and rent management.
Risks to underwrite include a suburban amenity mix with thinner pharmacy/childcare density and safety metrics that sit near national midpoints but are improving. Thoughtful renovations and pragmatic operations can target retention and measured rent growth without overextending affordability pressure.
- Renovation and operational upside from 1983 vintage versus newer nearby stock
- Expanding 3-mile renter pool supports occupancy stability and leasing
- Elevated ownership costs sustain multifamily demand and pricing power
- Proximity to major employers underpins workforce and professional demand
- Risks: suburban amenity gaps and midrange safety metrics warrant prudent underwriting