| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 56th | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29807 State Rte 249, Tomball, TX, 77375, US |
| Region / Metro | Tomball |
| Year of Construction | 1997 |
| Units | 100 |
| Transaction Date | 2018-06-21 |
| Transaction Price | $26,501,300 |
| Buyer | 29807 TOMBALL LLC |
| Seller | CFH TOMBALL PARTNERS LP |
29807 State Rte 249 Tomball Multifamily Investment
In a high-cost ownership pocket of suburban Tomball, renter demand is supported by elevated home values and a growing household base, according to WDSuite’s CRE market data.
This suburban Tomball location benefits from steady livability drivers and a growing tenant base. Within a 3-mile radius, population and households have expanded over the past five years and are projected to continue increasing, which points to a larger renter pool and supports occupancy stability. Median asking rents in the neighborhood track in the upper half of national peers and have risen meaningfully over five years, per WDSuite’s commercial real estate analysis, while the neighborhood’s overall rating sits above the metro median (ranked 302 among 1,491 Houston neighborhoods).
Local amenities are competitive for a suburban setting: restaurants and cafes benchmark in the mid-to-upper national tiers (around the mid-60s national percentiles), with groceries and pharmacies similar. Park access also lands in a higher national percentile, which can aid long-term resident retention. School ratings are not available in this dataset; investors may wish to underwrite education quality separately if it is central to the asset’s renter profile.
Ownership costs are elevated relative to incomes in this neighborhood (near the top of national comparisons), which tends to reinforce reliance on rental housing and can support pricing power. By contrast, the neighborhood-level occupancy rate measures below national peers, suggesting leasing may require disciplined management. At the same time, within a 3-mile radius, approximately 39.5% of housing units are renter-occupied, indicating meaningful depth to the tenant base even as ownership remains prevalent.
Vintage context matters for competitiveness. The average construction year for nearby stock skews to the early 2000s; a 1997-vintage, 100-unit property may trail newer comparables on finishes and systems, creating potential value-add or capital planning opportunities to narrow the gap and enhance leasing velocity.
Safety indicators trend mixed and should be framed comparatively. The neighborhood ranks competitively among Houston neighborhoods (411 out of 1,491) and sits slightly above the national midpoint overall. However, violent and property offense rates benchmark below favorable national percentiles, signaling that investors should underwrite appropriate security, lighting, and site management. Notably, both violent and property offense rates have improved year over year, with declines that place in stronger national improvement percentiles, indicating positive recent momentum.
Proximity to major employers across technology, energy, and healthcare supports workforce housing demand and commute convenience for residents, including Hewlett Packard Enterprise, McKesson Specialty Health, Anadarko Petroleum, CenterPoint Energy, and Enterprise Products.
- Hewlett Packard Enterprise Customer Engagement Center — technology services (8.6 miles)
- McKesson Specialty Health — healthcare services (11.6 miles)
- Anadarko Petroleum — energy (11.8 miles) — HQ
- Centerpoint Energy — utilities (12.5 miles)
- Enterprise Products — midstream energy (14.5 miles)
This 1997-vintage, 100-unit asset aligns with a suburban submarket where ownership costs are high relative to incomes, helping sustain renter reliance and depth of demand. Within a 3-mile radius, recent and projected increases in population and households point to a larger tenant base over the medium term, supporting occupancy and renewal prospects. According to CRE market data from WDSuite, neighborhood rents sit in the upper half nationally, and amenity access benchmarks competitively for a suburban location.
Key underwriting considerations include a neighborhood occupancy rate that trails national peers and the property’s older vintage versus nearby 2000s stock, which may warrant targeted renovations or systems updates to sharpen competitive positioning. Balancing these factors with household growth and proximity to large employers can support a durable leasing story.
- High-cost ownership market reinforces multifamily rental demand and pricing power
- Growing 3-mile population and households expand the tenant base and support occupancy
- Competitive suburban amenity access with solid dining, grocery, and parks supports retention
- Value-add potential from 1997 vintage versus early-2000s neighborhood stock
- Risk: Neighborhood occupancy below national peers may require proactive leasing and asset upgrades