| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 44th | Fair |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 27919 Johnson Rd, Tomball, TX, 77375, US |
| Region / Metro | Tomball |
| Year of Construction | 1999 |
| Units | 37 |
| Transaction Date | 2014-12-31 |
| Transaction Price | $2,700,000 |
| Buyer | Tomball Senior Housing |
| Seller | Southern Knights, Inc., was |
27919 Johnson Rd, Tomball Multifamily Investment
Neighborhood occupancy is strong and renter concentration is high, supporting durable leasing fundamentals near the asset, according to WDSuite’s CRE market data. Figures reflect neighborhood-level metrics, not the property’s own performance.
Positioned in Tomball within the Houston-The Woodlands-Sugar Land metro, the surrounding neighborhood ranks 288 out of 1,491 metro neighborhoods (A- rating), which is competitive among Houston neighborhoods. Occupancy in the neighborhood is 96.7%, placing it in the top quintile nationally, a signal of leasing stability for nearby assets.
Daily-needs access is a relative strength versus national norms: pharmacies score around the 93rd percentile, groceries near the 84th, and restaurants around the upper 70s by national percentile. Park access within the immediate neighborhood is limited, which may slightly reduce recreational appeal, but retail and service density helps support renter retention.
The property’s 1999 vintage is newer than the neighborhood’s average year built (1996). That positioning can be competitively favorable versus older stock while still warranting capital planning for aging systems and selective renovations to capture rent premiums.
Tenure patterns point to a deep renter base: approximately two-thirds of housing units in the neighborhood are renter-occupied (66.6%), indicating solid depth for multifamily demand. Within a 3-mile radius, demographic data show households increased modestly over the past five years and are projected to grow substantially through 2028, expanding the local tenant base and supporting occupancy stability; these 3-mile statistics are aggregated across the radius and not specific to the property.
From a cost context, the neighborhood’s value-to-income ratio sits around the 80th percentile nationally, reflecting a comparatively high-cost ownership market that tends to sustain reliance on rental options. Rent-to-income is positioned on the lower end nationally, suggesting manageable affordability pressure and room for disciplined rent growth, though operators should monitor retention as pricing moves.
Safety indicators are better than the national median, with the neighborhood around the 58th percentile nationally and performing above the metro median (ranked 322 out of 1,491 Houston neighborhoods). Recent trend data point to meaningful improvement: both property and violent offense rates declined sharply year over year, with improvement among the stronger cohorts metro-wide. These figures are neighborhood-level and should be viewed as directional context rather than block-specific conditions.
Proximity to regional employers underpins renter demand through commute convenience, particularly across technology, energy, healthcare distribution, and midstream corporate offices.
- Hewlett Packard Enterprise Customer Engagement Center — technology (6.8 miles)
- Centerpoint Energy — energy utility offices (10.7 miles)
- McKesson Specialty Health — healthcare distribution (11.5 miles)
- Anadarko Petroleum — energy (11.8 miles) — HQ
- Enterprise Products — midstream energy (12.6 miles)
This 37-unit asset benefits from a high-performing neighborhood backdrop: competitive metro ranking, occupancy near the top quintile nationally, and strong access to daily-needs retail and services. According to commercial real estate analysis from WDSuite, the neighborhood’s high renter concentration and a 3-mile outlook calling for notable household growth point to a larger tenant base over the next cycle, supporting lease-up and retention strategies.
Built in 1999, the property is slightly newer than the neighborhood average, offering competitive positioning versus older stock with potential to unlock value through targeted interior updates and system refreshes. Elevated ownership costs relative to income reinforce reliance on rental housing, while relatively moderate rent-to-income levels suggest capacity for measured rent growth, subject to operational execution and market conditions.
- Competitive neighborhood rank and strong occupancy support stable leasing performance
- 1999 vintage provides a platform for focused value-add and CapEx-driven rent premiums
- High neighborhood renter concentration and projected 3-mile household growth expand the tenant base
- Daily-needs amenity density (pharmacy/grocery) supports retention and pricing power
- Risks: limited park access, lower neighborhood NOI-per-unit versus national peers, and macro volatility impacting rent realization