| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 70th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 820 Carrell St, Tomball, TX, 77375, US |
| Region / Metro | Tomball |
| Year of Construction | 1985 |
| Units | 54 |
| Transaction Date | 2010-07-14 |
| Transaction Price | $1,767,500 |
| Buyer | HVM MID TOWNE LTD |
| Seller | MID TOWNE LIMITED |
820 Carrell St Tomball Value-Add Multifamily
Steady neighborhood occupancy and an owner-leaning tenant base point to durable renter demand, according to WDSuite’s CRE market data. Positioning and operations will matter, but fundamentals suggest consistent lease-up and retention potential in suburban Tomball.
Tomball’s suburban setting combines daily conveniences with strong school appeal. Public school quality is a notable strength—ranked 1 out of 1,491 metro neighborhoods and in the top percentile nationally—supporting family-oriented demand and longer average tenures for qualifying assets.
Amenity access is balanced for a suburban node: parks access ranks competitively (top quartile nationally), with a moderate mix of groceries and restaurants. Childcare and pharmacy options are limited within the immediate neighborhood, so residents often rely on nearby corridors for those services. Median home values sit on the higher side relative to national norms, which tends to reinforce reliance on multifamily for households prioritizing more accessible monthly housing costs.
Neighborhood housing stock skews newer than the subject property, with a 2000s-era average vintage across nearby assets; by comparison, a 1985 build can be positioned as a value-add play with targeted modernization to compete against younger product. Renter-occupied share is moderate in the neighborhood, suggesting depth for workforce and lifestyle renters while keeping renewal risk manageable. Occupancy at the neighborhood level has been stable, supporting pricing discipline for well-managed properties.
Within a 3-mile radius, population and household counts have grown meaningfully and are projected to continue expanding by the latter part of the decade, indicating a larger tenant base over time. Household incomes in the 3-mile area skew higher than many suburban peers, while rent-to-income levels at the neighborhood scale indicate manageable affordability pressure—factors that can support occupancy stability and reduce turnover volatility when paired with prudent lease management and ongoing multifamily property research from WDSuite as a validation source.
Safety conditions are mixed relative to the Houston-The Woodlands-Sugar Land metro. The neighborhood’s crime rank sits around the middle of the pack (neither among the highest nor lowest) when compared with 1,491 metro neighborhoods, placing it below the national middle for safety but not at the bottom of the distribution.
Recent trends show improvement: both property and violent offense rates have declined year over year, which is a constructive signal for long-term risk management. As with most Houston suburbs, asset-level measures—lighting, access control, and resident screening—remain important levers to maintain leasing velocity and retention.
Proximity to a cluster of energy, technology, utilities, and healthcare corporate offices supports a diversified employment base and commuter convenience for renters. The names below represent nearby anchors that can help sustain leasing and retention.
- Hewlett Packard Enterprise Customer Engagement Center — technology (8.2 miles)
- McKesson Specialty Health — healthcare distribution (9.6 miles)
- Anadarko Petroleum — energy exploration (9.8 miles) — HQ
- CenterPoint Energy — utilities (11.8 miles)
- Enterprise Products — midstream energy (14.1 miles)
The 54-unit property at 820 Carrell St (built 1985) is older than the neighborhood’s largely 2000s-era stock, creating a clear value-add path through selective interior updates, exterior refresh, and systems modernization. This positioning, combined with a steady neighborhood occupancy environment and moderate renter concentration, supports the case for consistent leasing and renewal performance. Elevated home values in the area also tend to sustain rental demand, while rent-to-income dynamics indicate room for disciplined pricing without overextending residents.
Population and household growth within a 3-mile radius expand the prospective tenant base through the forecast period, and higher local incomes relative to many suburban peers can underpin retention for well-managed communities. According to CRE market data from WDSuite, the neighborhood sits near the national middle on occupancy and amenities but benefits from top-tier schools—an advantage for stabilizing family-oriented demand over time.
- 1985 vintage offers value-add and capex-driven upside versus newer neighborhood stock
- Stable neighborhood occupancy and elevated home values support durable renter demand
- Growing 3-mile population and households expand the tenant pipeline through the forecast period
- Risks: competition from newer properties and mixed safety positioning require focused operations and asset enhancements