| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 8th | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 307 Sleepy Hollow Dr, Cleveland, TX, 77327, US |
| Region / Metro | Cleveland |
| Year of Construction | 1985 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
307 Sleepy Hollow Dr Cleveland Value-Add Multifamily
Neighborhood occupancy trends are stable and renter demand is supported by workforce growth near the Houston metro, according to WDSuite s CRE market data. The asset s 1985 vintage points to potential renovation upside alongside steady leasing fundamentals.
Located in Cleveland, Texas within the Houston The Woodlands Sugar Land metro, the neighborhood posts an estimated 95% occupancy, which is above the metro median and competitive among the region s 1,491 neighborhoods. Rents remain relatively accessible locally, supporting retention and steady lease-up, while the area s neighborhood rating (C-) suggests reliable but not premium positioning.
Three-mile demographics indicate a stable current population base with larger average household sizes and a projected expansion through 2028. WDSuite s data shows forecasts for population and household growth within a 3-mile radius, which would expand the tenant base and support occupancy stability if realized. Household incomes are projected to rise as well, reinforcing the potential for gradual rent growth management rather than aggressive near-term pushes.
Tenure dynamics suggest a balanced market: the share of housing units that are renter-occupied is measured below half today, with WDSuite forecasts indicating a modest increase over the next five years. For multifamily investors, a rising renter concentration typically broadens the pool of prospective tenants and sustains absorption during turns.
Local amenity access is mixed: grocery and park availability track near the middle of the pack, while cafes and pharmacies are thinner than denser Houston submarkets. Average school ratings in the neighborhood score low versus national comparisons, which may influence family renter preferences and product positioning. Median home values are comparatively low for the region, which can introduce some competition from entry-level ownership; however, the neighborhood s rent-to-income profile remains manageable, supporting renewal capture and lease retention.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors should benchmark safety using regional comps, municipal reporting, and property-level history. In the absence of ranked data, prudent underwriting typically incorporates on-site security considerations, lighting and visibility upgrades, and lease management practices consistent with comparable Houston-area neighborhoods.
Regional employers within commuting range help underpin renter demand for workforce housing, including energy services, logistics, and healthcare-adjacent offices noted below.
- National Oilwell Varco energy equipment & services (21.1 miles)
- FedEx Office Print & Ship Center logistics & business services (21.3 miles)
- Anadarko Petroleum energy (26.0 miles) HQ
- McKesson Specialty Health healthcare services (26.2 miles)
- Halliburton energy services (32.2 miles) HQ
This 96-unit asset (built 1985) is older than the neighborhood s average vintage, creating a clear value-add and capital planning angle to modernize interiors, address systems, and upgrade curb appeal. Neighborhood occupancy tracks above the metro median with manageable rent-to-income levels, which supports leasing stability while allowing targeted rent repositioning post-renovation.
Three-mile forecasts in WDSuite s commercial real estate analysis point to population and household growth alongside rising incomes, expanding the renter pool and supporting long-term absorption. At the same time, comparatively low home values in the area can introduce ownership competition, so underwriting should emphasize product differentiation and durable renewal strategies.
- Above-metro occupancy supports steady leasing and renewal capture
- 1985 vintage offers value-add potential through unit and systems upgrades
- Forecast renter pool expansion and rising incomes within 3 miles bolster demand
- Manageable rent-to-income profile enables disciplined rent management post-renovation
- Risk: lower local home values may compete with rentals positioning and retention strategy are key