| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 48th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 309 E Houston St, Dayton, TX, 77535, US |
| Region / Metro | Dayton |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | 2022-10-31 |
| Transaction Price | $2,193,170 |
| Buyer | DAYTON VILLA APTS LLC |
| Seller | HOUSTON AVENUE APARTMENTS LLC |
309 E Houston St Dayton TX 24-Unit Multifamily Investment
Neighborhood occupancy remains exceptionally tight, supporting lease stability for smaller-format units, according to WDSuite’s CRE market data. Positioning near Houston’s east-side job corridors adds demand resilience for a workforce renter base.
Dayton sits on the eastern edge of the Houston-The Woodlands-Sugar Land metro and functions as a rural-leaning neighborhood with limited amenity density. Amenity access ranks 1002 out of 1,491 metro neighborhoods, indicating fewer parks, pharmacies, and retail nodes nearby relative to the broader metro. For investors, this typically means car-dependent renters and a value orientation rather than lifestyle-driven premiums.
WDSuite’s CRE market data shows the neighborhood’s occupancy ranking at the top of the metro (1 out of 1,491), signaling scarce available units and supporting rent collections and retention. Within a 3-mile radius, approximately 30% of housing units are renter-occupied, pointing to a moderate renter concentration that still provides a workable tenant base for a 24-unit asset. Median contract rents in the 3-mile area have risen over the past five years and are projected to continue increasing into the next cycle, helping underpin revenue growth if kept aligned with local affordability.
Demographics within 3 miles show households increased even as population ticked down over the last five years, implying smaller household sizes and steady absorption of existing housing. Forward-looking projections to 2028 indicate population growth and a significant increase in household count, which would expand the renter pool and support occupancy if realized. Median household income in neighborhood benchmarks sits in a higher national percentile, which can sustain rent levels for well-managed, functional units.
Home values in local benchmarks sit at levels that are more accessible than many coastal markets. For multifamily investors, a more accessible ownership landscape can introduce competition from entry-level for-sale housing; however, it also supports lease retention when operators price units below monthly ownership costs and emphasize convenience. The property’s 1980 vintage is newer than the neighborhood’s average 1972 stock, offering relative competitiveness versus older buildings, though investors should still plan for system upgrades and targeted renovations to meet renter expectations.
Comparable metro-ranked crime metrics are not reported in this dataset for the immediate neighborhood. Investors typically benchmark safety by reviewing city and county police reports, trend lines, and insurer guidance, then comparing those findings to peer neighborhoods across the Houston-The Woodlands-Sugar Land metro.
As with any submarket, prudent underwriting includes assessing recent trend direction, property-level security measures, lighting and visibility, and proximity to late-night commercial uses that can affect perceived safety and tenant retention.
Proximity to East Houston job centers supports a commuter renter base. Nearby employers span logistics, industrial gases, and energy services, which can help stabilize leasing for workforce-oriented units.
- FedEx Office Print & Ship Center — logistics services (18.0 miles)
- Air Products — industrial gases (21.4 miles)
- Halliburton — energy services (28.4 miles) — HQ
- Calpine Turbine Maintenance Group — power services (32.3 miles)
- Boeing: Bay Area Building — aerospace offices (33.8 miles)
This 24-unit, 1980-vintage asset with compact average unit sizes is positioned for workforce demand in a rural-leaning pocket of the Houston metro where neighborhood occupancy is exceptionally tight. Based on commercial real estate analysis from WDSuite, scarcity of available units and projected rent growth in the 3-mile area support revenue durability, while the property’s slightly newer vintage versus the neighborhood average suggests competitive positioning with targeted modernization.
Within a 3-mile radius, household counts have grown despite a modest population dip, indicating smaller household sizes and a steady renter pipeline; projections point to a larger renter pool by 2028, supporting occupancy and leasing velocity. A more accessible ownership market may create some competition from entry-level for-sale options, but disciplined pricing, reliability, and convenience can sustain tenant retention in this location.
- Tight neighborhood occupancy supports rent collections and retention
- 1980 vintage is competitive to older local stock; value-add via targeted renovations
- Projected household growth within 3 miles expands the renter pool by 2028
- Workforce employment base within commuting distance underpins steady leasing
- Risks: amenity-light, car-dependent setting and ownership competition require disciplined pricing and operations