| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 64th | Best |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3001 8th St, Port Neches, TX, 77651, US |
| Region / Metro | Port Neches |
| Year of Construction | 1978 |
| Units | 107 |
| Transaction Date | 2014-08-29 |
| Transaction Price | $1,300,000 |
| Buyer | Mission Indev, LLC |
| Seller | Meadow Lark Crosby, LP |
3001 8th St, Port Neches Multifamily Investment
Income levels and low rent-to-income ratios indicate room for steady leasing and retention, according to WDSuite’s CRE market data, while submarket occupancy has been softer than the metro median—making asset selection and operations the key drivers of performance.
The property sits in a suburban pocket of Port Neches that scores A- at the neighborhood level and is competitive among Beaumont-Port Arthur neighborhoods (top quartile among 139). Restaurant density ranks near the top of the metro, while day-to-day amenities like grocery and pharmacies are thinner locally, which places a premium on convenient access via short drives.
Childcare availability ranks strongly within the metro, supporting working households. Median home values in the neighborhood sit in a mid-range for the region, and ownership is relatively accessible compared with many U.S. markets. For multifamily, that can introduce some competition from entry-level ownership, so pricing and amenity positioning matter for lease retention.
Vintage is a consideration: the neighborhood’s average construction year is 1994, and this asset was built in 1978. Older stock typically benefits from targeted value-add and capital planning to remain competitive against newer product, especially in a submarket with a meaningful pipeline of service-oriented employment and family households.
Tenure signals are mixed but investable. At the immediate neighborhood level, the share of renter-occupied housing units is moderate, suggesting a more targeted renter base close-in; within a 3-mile radius, renter-occupied share is larger, indicating a deeper tenant pool when marketing across adjacent districts. Neighborhood rents remain accessible relative to incomes, which supports occupancy stability and renewal probability in professionally managed assets.
Within a 3-mile radius, recent population growth has been modest with a projected increase over the next five years. Forecasts also point to rising household incomes and higher market rents, expanding the renter pool and supporting long-term leasing fundamentals, based on CRE market data from WDSuite.
Safety indicators are mixed and should be underwritten with recent comps. Overall crime sits around the metro middle, positioning the area as competitive among Beaumont-Port Arthur neighborhoods rather than a top performer. Compared with neighborhoods nationwide, property-related offenses track in a stronger (safer) national percentile, while violent-offense measures align closer to national mid-range.
Year-over-year trends show some recent volatility in violent-offense estimates; investors should focus on property-level controls (lighting, access management, and active management) and compare recent incident trends with like-kind assets in nearby neighborhoods for a balanced view.
This 107-unit, 1978-vintage asset offers durable workforce demand supported by accessible rents relative to incomes and a broader 3-mile renter base that can sustain leasing velocity. According to CRE market data from WDSuite, neighborhood occupancy has trailed the metro median in recent years, which elevates the importance of hands-on operations, competitive finishes, and targeted marketing beyond the immediate blocks.
The asset’s older vintage versus a 1990s neighborhood baseline creates clear value-add levers and capital planning needs to stand out against younger stock. Ownership remains relatively accessible locally, so pricing discipline and convenience-oriented amenities are key to counter potential competition from entry-level ownership. Forward-looking demographics within 3 miles point to population growth and rising incomes, which should support a larger tenant base and reinforce renewal potential over the hold.
- Accessible rents vs. incomes support retention and occupancy stability
- 1978 vintage relative to 1990s neighborhood stock creates value-add and capex upside
- Broader 3-mile renter base and projected population growth expand the tenant pool
- Risk: neighborhood occupancy below metro median—execution and amenities are critical
- Ownership accessibility presents competitive pressure—pricing and renewal strategies matter