| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 61st | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 241 Hardy Ave, Nederland, TX, 77627, US |
| Region / Metro | Nederland |
| Year of Construction | 1989 |
| Units | 52 |
| Transaction Date | 2005-02-07 |
| Transaction Price | $1,665,600 |
| Buyer | DECKERT JONATHAN L |
| Seller | CALDWELL DEVIN |
241 Hardy Ave Nederland 52-Unit Multifamily Investment
Positioned in an inner-suburb pocket of the Beaumont–Port Arthur metro with steady renter demand and improving neighborhood occupancy, this asset offers durable cash flow potential, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood of Nederland that ranks near the top of the Beaumont–Port Arthur, TX metro (3rd of 139 neighborhoods), signaling strong local fundamentals and competitive positioning among area submarkets. Neighborhood schools are a notable strength, with average ratings that place the area among the top tier nationally, a factor that can support resident retention and longer tenancy.
Daily convenience is solid for a suburban location: restaurants are abundant relative to the metro (ranked 3rd of 139), and grocery, pharmacy, parks, and childcare densities also score competitively (ranks in the low teens to low twenties). These amenity patterns align with stable day‑to‑day livability, which can aid leasing velocity and renewal outcomes.
Neighborhood occupancy trends have ticked up over the past few years and sit roughly around the metro median. For multifamily investors, this suggests demand resilience without excessive new supply pressure. Within a 3‑mile radius, the area supports a sizable renter-occupied share of housing units, providing depth to the tenant base and helping underpin absorption and ongoing occupancy stability.
The asset’s 1989 vintage is slightly older than the neighborhood’s average construction year (1991). That age profile points to potential value‑add opportunities via targeted renovations and systems upgrades to sharpen competitive positioning against newer stock while managing capital planning. Homeownership remains relatively accessible in this part of Jefferson County; in practice, that can temper pricing power at the upper end but also supports retention when well‑maintained, moderately priced units meet everyday needs.
Safety indicators for the neighborhood track around the metro median (69th of 139 by crime rank), and overall safety levels trend below national averages (lower national percentiles indicate more crime relative to other U.S. neighborhoods). Notably, property crime has moved downward year over year, which is a constructive sign for operating stability and resident sentiment.
Investors should underwrite with standard precautions common to inner‑suburban Texas locations: emphasize lighting, access control, and camera coverage, and align operating practices with current local patterns rather than block‑level assumptions. Monitoring trends remains prudent given that violent‑crime measures sit below national safety percentiles, while the recent improvement in property‑crime metrics offers a modest offset.
241 Hardy Ave combines a top‑tier neighborhood rank within the Beaumont–Port Arthur metro with balanced suburban amenities and strong school performance, supporting durable renter appeal. Neighborhood occupancy has improved and sits near the metro median, indicating steady demand. The 1989 vintage suggests manageable value‑add or systems modernization to enhance competitiveness, and the smaller average unit size can align with cost‑conscious renters seeking efficient layouts. Based on commercial real estate analysis drawn from WDSuite’s CRE market data, local ownership costs are relatively accessible, so disciplined rent setting and unit quality can be important to sustain leasing momentum and renewal rates.
Within a 3‑mile radius, modest recent population gains and projections for further growth by 2028 point to a gradually expanding renter pool and support for occupancy stability over the medium term. Given accessible ownership alternatives and mid‑pack safety positioning, investors may prioritize practical upgrades, resident services, and thoughtful lease management to balance demand depth with retention.
- Top‑tier neighborhood rank within the metro supports leasing and retention
- Amenity access and highly rated schools enhance long‑term renter appeal
- 1989 vintage offers value‑add and systems‑upgrade potential to improve competitiveness
- Gradual renter pool expansion within 3 miles supports occupancy stability
- Risks: mid‑pack safety metrics and accessible ownership options require disciplined pricing and resident‑experience focus