| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 8th | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1301 Nevell St, Cleveland, TX, 77327, US |
| Region / Metro | Cleveland |
| Year of Construction | 1998 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | $6,211,100 |
| Buyer | GRAND OAKS AFFORDABLE LLC |
| Seller | GRAND OAKS RESIDENTIAL LLC |
1301 Nevell St Cleveland TX 40-Unit Multifamily
Neighborhood occupancy is above the national median and competitive within the Houston metro, supporting stable leasing fundamentals according to WDSuite’s CRE market data. Renter demand is reinforced by a high renter-occupied share in the immediate neighborhood, while rents trend toward the value end of the spectrum.
Located in Cleveland, Texas (Houston-The Woodlands-Sugar Land metro), the neighborhood shows occupancy strength relative to peers, ranking 534 out of 1,491 metro neighborhoods — competitive among Houston neighborhoods and above the national median. Median contract rents in the neighborhood sit at the lower end regionally, which can aid lease-up and retention, per commercial real estate analysis informed by WDSuite.
Vintage is slightly newer than local norms: the property’s 1998 construction compares to a neighborhood average year of 1989. Newer stock can position the asset more favorably against older comparables, though some building systems may be approaching modernization cycles that investors should underwrite.
Tenure dynamics are constructive for multifamily: 56.8% of neighborhood housing units are renter-occupied (rank 229 of 1,491), indicating a deep tenant base and potential demand stability for professionally managed rentals. At the same time, neighborhood home values are comparatively low for the region, which can introduce some competition from ownership options; in practice, this often supports leasing by offering more accessible rental choices relative to elevated down-payment requirements elsewhere in the metro.
Amenity access is mixed. Grocery access benchmarks well (around the 70th percentile nationally), and parks are comparable to metro norms, while cafes and pharmacies are sparse locally. School-rating data in this dataset is limited for the neighborhood. Overall, these dynamics suggest workforce-oriented renter demand with convenience driven more by essentials than lifestyle retail.
Within a 3-mile radius, demographic statistics indicate a generally steady base today and projections for expansion: modest recent population change is expected to transition into notable population and household growth by 2028, implying a larger tenant base and support for occupancy stability. Forecasts also point to rising household incomes and higher asking rents, which can enhance revenue potential if managed alongside affordability and retention.
Comparable crime data for this neighborhood is not published in the current WDSuite feed, so block-level conclusions are not appropriate. Investors typically benchmark safety by reviewing city or county trends, property-level incident history, and management practices alongside regional comparisons to understand trajectory rather than relying on a single snapshot.
Employment access skews toward Houston’s energy and logistics corridor, supporting workforce renter demand via commutable jobs at large corporate offices listed below.
- National Oilwell Varco — energy equipment & services (21.0 miles)
- FedEx Office Print & Ship Center — logistics & business services (21.9 miles)
- Anadarko Petroleum — energy (26.3 miles) — HQ
- McKesson Specialty Health — healthcare services (26.5 miles)
- Halliburton — energy (32.8 miles) — HQ
This 1998-vintage, 40-unit asset sits in a neighborhood with occupancy above the national median and a rank of 534 out of 1,491 in the Houston metro, signaling competitive performance against local peers. The area’s renter-occupied concentration supports depth of tenant demand, while neighborhood-level rents remain toward the value end — a profile that can aid retention and pricing management, according to CRE market data from WDSuite.
Forward-looking indicators within a 3-mile radius show projections for population and household growth by 2028 alongside rising incomes and asking rents, suggesting a larger renter pool and potential revenue upside. As a relatively newer build versus neighborhood stock, the property can compete against older comparables, though investors should plan for selective modernization of aging systems to sustain leasing and operational efficiency.
- Competitive neighborhood occupancy versus metro peers supports leasing stability.
- High renter-occupied share indicates a deeper tenant base for multifamily demand.
- 1998 construction offers relative competitiveness vs. older stock with value-add through targeted updates.
- 3-mile projections point to tenant base expansion and potential revenue growth if managed alongside affordability.
- Risks: limited lifestyle amenities nearby and potential competition from ownership options; proactive asset management and retention strategies are important.