| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 36th | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 Pearl St, Beaumont, TX, 77701, US |
| Region / Metro | Beaumont |
| Year of Construction | 1988 |
| Units | 27 |
| Transaction Date | 2006-07-28 |
| Transaction Price | $797,000 |
| Buyer | BEAUMONT DOWNTOWN LOFTS LP |
| Seller | SZAFIR NORMAN |
620 Pearl St Beaumont — 1988 Multifamily Investment, 27 Units
Neighborhood occupancy is measured at the neighborhood level and has trended up in recent years, while renter demand is supported by a higher renter-occupied share; based on CRE market data from WDSuite, this submarket offers income-oriented potential with prudent lease management.
620 Pearl St sits in an Inner Suburb pocket of Beaumont that is competitive among Beaumont-Port Arthur neighborhoods (ranked 29 out of 139) with an A- neighborhood rating, according to WDSuite s CRE market data. The rental market is characterized by a sizable renter concentration (measured as the share of renter-occupied housing units), which helps deepen the tenant base for multifamily owners.
Local amenities skew practical rather than lifestyle-heavy. The neighborhood scores above the metro median for grocery, restaurant, pharmacy, and childcare access, but parks and cafes are limited. For investors, this mix supports day-to-day livability for workforce renters, though it may not command premium lifestyle pricing seen in amenity-dense urban nodes.
Neighborhood occupancy, not the property s own, is reported at 76.5% with multi-year improvement, indicating ongoing lease-up and replacement demand but also signaling competition among owners. The neighborhood s stock is older on average (1975), and a 1988 vintage can position the property as relatively competitive versus older assets; some systems may still benefit from modernization to strengthen leasing and retention.
Within a 3-mile radius, recent population and household counts have edged lower, but forecasts indicate renewed population growth and a larger household base, implying a broader renter pool over the next cycle. Median household income is projected to rise, which can support rent levels; however, rent-to-income readings point to pockets of affordability pressure, so revenue management and renewal strategies remain important for pricing power and tenant retention.
Home values in this area are comparatively modest in national terms, yet the value-to-income ratio sits high for the metro, indicating a high-cost ownership market relative to local incomes. This dynamic tends to sustain reliance on rental housing, supporting occupancy stability for well-run multifamily properties.
Safety conditions in the neighborhood are mixed when viewed against both metro peers and national benchmarks. Crime ranks near the metro median (around the middle of 139 neighborhoods), which means conditions are neither among the best nor the worst locally. Nationally, safety percentiles are below average, so investors should underwrite prudent security, lighting, and operational protocols.
Recent trends are directionally constructive: both property and violent offense rates have declined year over year, indicating improvement momentum. While this progress is notable, investors should continue to monitor trend durability and compare site-level measures to submarket norms as part of ongoing risk management.
This 1988, 27-unit asset offers relative competitiveness versus older neighborhood stock and a tenant base supported by a higher renter-occupied share. According to CRE market data from WDSuite, neighborhood occupancy has improved, yet remains a watchpoint, suggesting disciplined leasing and renewal strategies can add value. Forecasts within a 3-mile radius point to population growth, rising incomes, and a larger household base, which together indicate a broader renter pool and potential for steady absorption.
Operationally, the area s high value-to-income ratio for ownership supports ongoing reliance on rentals, while amenity access is practical (groceries, restaurants, pharmacies, childcare) rather than lifestyle-led a fit for workforce housing. With systems aging since 1988, targeted modernization can enhance positioning and drive retention, balanced against affordability pressure that calls for careful rent-setting and tenant experience management.
- 1988 vintage is newer than the neighborhood average, providing a competitive edge versus older stock.
- Renter-occupied share supports depth of tenant demand and leasing stability.
- Forecast 3-mile growth in households and incomes expands the renter pool and supports occupancy over time.
- Practical amenity access aligns with workforce demand, aiding day-to-day livability and retention.
- Risks: neighborhood occupancy is below stronger metros and safety benchmarks are weaker nationally; affordability pressure requires disciplined revenue management.