| 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 | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1301 Nevell St, Cleveland, TX Multifamily Investment
Stabilized renter demand in the neighborhood and a 1998 vintage position this 70-unit asset for value-add and steady operations, according to WDSuite’s CRE market data. Neighborhood occupancy has been resilient relative to broader trends, supporting leasing continuity for well-managed properties.
Located in Cleveland within the Houston-The Woodlands-Sugar Land metro, the neighborhood shows durable rental fundamentals for investors. Neighborhood occupancy is competitive among Houston neighborhoods (ranked against 1,491 metro neighborhoods) and above national norms by percentile, indicating generally steady leasing conditions at the neighborhood level rather than at this specific property.
Tenant depth is reinforced by a high share of renter-occupied housing units at the neighborhood level. With renter concentration ranking well within the top quartile nationally and above the metro median among 1,491 neighborhoods, the area provides a meaningful base of prospects for multifamily communities and can support occupancy stability over the cycle.
Livability signals are mixed. Grocery access sits above national norms by percentile, and park access is also comparatively strong, while cafes and pharmacies are sparse, suggesting amenity-light blocks where on-site offerings and property management services matter more for retention. School ratings are limited in the dataset and should be verified locally before underwriting family-demand assumptions.
Affordability supports retention. Neighborhood-level contract rents sit below metro medians by rank and near the national mid-range by percentile, while rent-to-income metrics indicate comparatively lower affordability pressure for residents. For investors, that mix points to stable collections with measured pricing power. Median home values in the neighborhood are lower relative to national levels, which can introduce some competition from ownership; careful positioning and amenities can help sustain lease-up and renewals.
Vintage context: the property was built in 1998, newer than the neighborhood’s average construction year profile. This can enhance competitiveness versus older stock, while still leaving room for targeted system updates and common-area improvements to lift rent positioning in a value-add strategy.
Demographics within a 3-mile radius are currently steady, with modest recent population change but projections indicating meaningful population growth and an increase in households over the next five years. That expansion points to a larger tenant base and supports forward leasing assumptions for well-maintained multifamily assets.
Neighborhood-level safety statistics are not available in the current WDSuite dataset for this location. Investors typically benchmark conditions using city and county public reports and compare trends to nearby Houston metro neighborhoods to gauge relative safety and potential impacts on leasing and retention.
Regional employment access is supported by energy, logistics, and healthcare/corporate services within commuting distance, which can underpin renter demand and renewals for workforce-oriented units. The list below highlights nearby employers by proximity that are most relevant to this submarket.
- National Oilwell Varco — energy equipment & services (21.0 miles)
- FedEx Office Print & Ship Center — logistics & business services (21.8 miles)
- Anadarko Petroleum — energy (26.2 miles) — HQ
- McKesson Specialty Health — healthcare services (26.4 miles)
- Halliburton — energy services (32.6 miles) — HQ
This 70-unit, 1998-vintage property offers a pragmatic value-add and operations story: neighborhood occupancy is competitive within the Houston metro and above national norms by percentile, the local renter-occupied share is high, and affordability metrics point to manageable rent-to-income pressure that can support collections and retention. Based on commercial real estate analysis from WDSuite, these neighborhood dynamics have shown resilience relative to broader trends, creating a foundation for consistent leasing while selective upgrades can improve positioning against older stock.
Forward demand indicators are constructive. Within a 3-mile radius, projections call for population growth and an increase in households over the next five years, implying a larger renter pool. While lower neighborhood home values can create some competition from ownership, energy and services employment within commuting range helps sustain workforce housing demand. Execution should emphasize targeted renovations, tenant experience, and careful rent management to balance occupancy stability with measured rent growth.
- Competitive neighborhood occupancy and high renter concentration support stable leasing
- 1998 vintage offers value-add potential versus older local stock
- Projected 3-mile population and household growth expand the tenant base
- Workforce employment within commuting distance underpins ongoing renter demand
- Risks: amenity-light blocks and competition from ownership require disciplined positioning