| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 11th | Poor |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 915 E Hanson St, Cleveland, TX, 77327, US |
| Region / Metro | Cleveland |
| Year of Construction | 1992 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
915 E Hanson St Cleveland, TX Multifamily Investment
1992-vintage asset positioned for workforce renters in a suburban pocket where ownership costs outpace incomes, according to WDSuite’s CRE market data. Expect steady tenant interest supported by regional employment nodes, with pricing power tied to careful lease management and amenity execution.
This suburban Cleveland location offers everyday convenience with limited on-block retail and cafes, while pharmacy access is comparatively strong (pharmacies score in a higher national percentile). For investors, that mix implies residents rely more on auto-based trips for groceries and dining, so on-site services and parking can support retention.
Neighborhood rental market signals are mixed. The neighborhood occupancy rate is below the metro median among 1,491 Houston–The Woodlands–Sugar Land neighborhoods, suggesting the need for active leasing and renewal strategies to sustain performance. At the same time, the share of housing units that are renter-occupied sits near metro norms, pointing to a serviceable tenant base for small and mid-size multifamily.
Home values in the neighborhood are elevated relative to incomes (high national percentile on value-to-income), which generally reinforces reliance on rental housing and can aid lease retention. Rent-to-income sits in a more moderate range, limiting immediate affordability pressure and supporting stable collections when underwriting conservative rent steps.
Construction patterns skew older locally (average vintage near the late 1970s), and this property’s 1992 construction is newer than much of the surrounding stock—providing a competitive edge versus older assets while still warranting targeted system upgrades or common-area refreshes to maintain positioning.
Demographic trends are aggregated within a 3-mile radius. Recent years show a relatively stable population with slight growth and some contraction in household counts, but forward-looking projections indicate meaningful population and household expansion by the mid-term, which would enlarge the renter pool and support occupancy and leasing velocity if realized.
Neighborhood-level crime benchmarking is limited in the current dataset for this location. Investors typically contextualize safety by comparing multi-year trends to broader Houston–The Woodlands–Sugar Land patterns and by focusing on property-level measures (lighting, access control, and visibility) that support resident comfort and retention.
The area draws from Houston’s energy and healthcare corporate base, supporting workforce renter demand and practical commute times to major employers noted below.
- National Oilwell Varco — energy services (20.8 miles)
- FedEx Office Print & Ship Center — business services (21.1 miles)
- Anadarko Petroleum — energy (25.7 miles) — HQ
- McKesson Specialty Health — healthcare services (25.9 miles)
- Halliburton — energy (31.9 miles) — HQ
This 1992 asset offers relative age advantage versus the neighborhood’s older housing stock, positioning it competitively for workforce renters. Based on CRE market data from WDSuite, the neighborhood’s occupancy sits below the metro median, which calls for disciplined leasing and renewal execution; however, a renter-occupied share near metro norms, a high value-to-income environment, and proximity to major employment corridors support a durable tenant base.
Within a 3-mile radius, projections point to notable gains in population and households over the next several years, signaling a larger renter pool and potential for steady lease-up and retention if supply remains balanced. With moderate rent-to-income levels, investors can prioritize resident retention while pursuing targeted upgrades to drive NOI without overextending affordability.
- Newer-than-area stock (1992) creates competitive positioning versus older assets
- High ownership cost context supports rental demand and lease retention
- 3-mile forecasts indicate renter pool expansion, aiding occupancy and leasing velocity
- Moderate rent-to-income backdrop allows for measured value-add without overextending affordability
- Risk: Neighborhood occupancy is below metro median, requiring active leasing and resident experience focus