| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 55th | Good |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 Silverdale Dr, Conroe, TX, 77301, US |
| Region / Metro | Conroe |
| Year of Construction | 2006 |
| Units | 88 |
| Transaction Date | 2006-04-11 |
| Transaction Price | $9,775,000 |
| Buyer | CONROE LODGE AT SILVERDALE APARTMENT HOM |
| Seller | WALKER JERRY V |
1300 Silverdale Dr Conroe Multifamily Investment Thesis
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to CRE market data from WDSuite. With mid-market rents and a growing local tenant base, the asset’s performance should track the area’s durable suburban dynamics.
This suburban Conroe location offers practical livability with a balanced cost profile and solid occupancy for the neighborhood rather than the property specifically. Neighborhood occupancy is 96.3% (top quartile nationally), indicating resilient leasing conditions and stable cash flow potential, based on WDSuite’s CRE market data.
Renter demand is supported by a moderate renter-occupied share at the neighborhood level and a deeper tenant base within a 3-mile radius, where 42.4% of housing units are renter-occupied. This mix suggests depth for workforce and family renters and supports leasing continuity through cycles.
Rent levels are mid-market (neighborhood median contract rent around the low-$1,100s, and $1,175 within 3 miles), while the rent-to-income ratio of 0.17 indicates manageable affordability pressure and room for disciplined revenue management. Median home values around the mid-$200,000s reflect a high-cost ownership market relative to local incomes for some households, which helps sustain reliance on multifamily housing and can support retention.
Schools in the neighborhood rate 4.0 out of 5 (top quartile nationally), a positive family-renter signal. Amenities are thinner—cafes and childcare options are sparse and groceries are about average—pointing to a primarily residential setting where residents rely on nearby corridors for services. The average neighborhood construction year is 2009; this property’s 2006 vintage is slightly older, implying potential near- to medium-term capital planning for systems and common-area refresh to remain competitive against newer stock.
Safety indicators compare favorably in a national context. Violent offense levels are in the top quartile nationally for safer outcomes, and property offenses sit around the upper-mid percentiles versus neighborhoods nationwide, based on WDSuite’s CRE market data.
Recent trend data shows sharp year-over-year decreases in both violent and property offense estimates, which, if sustained, support renter sentiment and lease retention. As with any submarket, investors should monitor local trends over time rather than relying on a single-year snapshot.
Proximity to energy and healthcare corporate offices supports a commuting renter base and reinforces weekday occupancy, with strong nodes in NOV, Anadarko, McKesson, CenterPoint Energy, and Halliburton.
- National Oilwell Varco (NOV) — energy equipment & services (3.5 miles)
- Anadarko Petroleum — energy (10.0 miles) — HQ
- McKesson Specialty Health — healthcare services (10.2 miles)
- Centerpoint Energy — utilities (25.5 miles)
- Halliburton — energy services (25.9 miles) — HQ
Built in 2006 with 88 units, the property sits in a neighborhood showing above-average occupancy and family-friendly fundamentals. Neighborhood occupancy is 96.3%, and within a 3-mile radius both population and households have expanded meaningfully over the last five years, with projections pointing to continued renter pool expansion. Mid-market rents and a 0.17 rent-to-income ratio support pricing power while maintaining lease stability, according to CRE market data from WDSuite.
The vintage is slightly older than the neighborhood average (2009), suggesting focused capital planning on systems and common areas can sharpen competitive positioning against newer supply. Employers across energy, healthcare, and utilities within commuting distance help underpin weekday demand, while thinner on-block amenities and energy-sector cyclicality merit monitoring as potential volatility factors.
- High neighborhood occupancy supports leasing stability and cash flow durability.
- Expanding 3-mile population and household counts enlarge the tenant base and support retention.
- Mid-market rents with a modest rent-to-income ratio enable disciplined revenue management.
- 2006 vintage offers value-add potential via targeted CapEx to compete with newer product.
- Risks: thinner immediate amenities and exposure to energy employment cycles may introduce variability.