| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 70th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 750 Carrell St, Tomball, TX, 77375, US |
| Region / Metro | Tomball |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
750 Carrell St, Tomball TX Multifamily Investment
1998-vintage, 24-unit asset positioned for steady renter demand in a suburban node with improving neighborhood fundamentals, according to WDSuite’s CRE market data. The location’s balanced incomes and high-cost ownership context support pricing power while keeping lease-up risk measured.
The property sits in a suburban neighborhood rated A- and ranked 267 out of 1,491 Houston-area neighborhoods, placing it in the competitive tier within the metro. Neighborhood occupancy is in the low 90s with a modest five-year improvement, suggesting stable leasing conditions rather than cyclicality (based on CRE market data from WDSuite).
Livability indicators are supportive for multifamily. Schools in the neighborhood score at the top of the metro and are top nationally by percentile, a draw for long-term residents. Parks density performs in the upper quartile nationally, while access to cafes and restaurants is around the national middle; childcare and pharmacies are relatively sparse, which investors should note for family-oriented positioning.
Within a 3-mile radius, population and households have expanded over the last five years, and projections indicate further household growth by 2028. A renter-occupied share of roughly one-third in this radius points to a meaningful tenant base, which supports occupancy stability and retention strategies for smaller units.
Median home values in the neighborhood sit well above national medians, indicating a high-cost ownership market. This backdrop tends to reinforce reliance on rental housing and can support rent collections and renewal capture, especially where rent-to-income ratios remain manageable.
Vintage positioning: the asset’s 1998 construction precedes the neighborhood’s average 2005 vintage. Investors should underwrite ongoing capital planning and potential value-add upgrades to stay competitive against newer stock while leveraging the area’s demand profile.
Safety signals are mixed and should be evaluated comparatively. The neighborhood’s overall crime standing is competitive among Houston neighborhoods (ranked in the better one-third of 1,491), yet it trends below the national median by percentile. Recent year-over-year declines in both property and violent offenses, as tracked by WDSuite, point to improving momentum rather than deterioration.
In practical terms, investors can treat the area as improving but still monitoring: property offenses sit below the national median by percentile, and violent offenses rank weaker nationally, even as both categories show measurable one-year reductions. Framing these as directional improvements helps calibrate leasing strategy, security budgeting, and resident communications.
Nearby corporate offices create a diversified employment base that supports renter demand and commute convenience for workforce tenants, including technology, energy, and healthcare services named below.
- Hewlett Packard Enterprise Customer Engagement Center — technology services (8.2 miles)
- McKesson Specialty Health — healthcare services (9.6 miles)
- Anadarko Petroleum — energy (9.9 miles) — HQ
- Centerpoint Energy — utilities (11.8 miles)
- Enterprise Products — midstream energy (14.0 miles)
This 24-unit, 1998-vintage asset benefits from steady neighborhood occupancy, strong school performance, and a renter base supported by a high-cost ownership market. Within a 3-mile radius, population and household expansion indicate a larger tenant base ahead, supporting occupancy stability and renewal capture. According to commercial real estate analysis from WDSuite, neighborhood rents and incomes sit in balanced territory, which can underpin collections while allowing thoughtful rent growth tied to unit improvements.
The asset is older than the local 2005 average, creating identifiable value-add and capital planning levers to enhance competitive positioning against newer stock. Access to major corporate employers within 8–14 miles provides a diversified demand spine that can support leasing resilience through cycles, though investors should monitor local safety trends and service amenity gaps when setting budgets and marketing.
- Stable neighborhood occupancy with improving momentum supports steady cash flow potential.
- 3-mile population and household growth expand the renter pool, aiding lease-up and renewals.
- 1998 vintage offers value-add and CapEx avenues to outperform newer competitive stock on a cost basis.
- Proximity to diversified employers (tech, energy, healthcare) supports demand resilience.
- Risks: mixed but improving safety metrics and limited childcare/pharmacy access warrant prudent security and amenity planning.