| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 28th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3030 N Frazier St, Conroe, TX, 77303, US |
| Region / Metro | Conroe |
| Year of Construction | 1972 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3030 N Frazier St Conroe Multifamily Investment
Neighborhood occupancy is near the mid-90s with a high share of renter-occupied units, supporting demand stability according to WDSuite’s CRE market data. Pricing sits in a workforce range for the area, which can aid leasing velocity and retention.
Located in Conroe’s inner-suburban fabric of the Houston-The Woodlands-Sugar Land metro, the neighborhood posts an occupancy rate that is competitive among Houston neighborhoods (rank 551 of 1,491). A sizable renter-occupied share of housing units indicates depth in the tenant base, which can support lease-up consistency and stabilize turnover.
Everyday conveniences are accessible: restaurant density sits well above national norms (78th percentile), with grocery and pharmacy availability also above average (69th and 73rd percentiles). Parks and cafes are comparatively limited, suggesting residents rely on private amenities or short drives for certain lifestyle needs—an underwriting consideration for on-site offerings and resident programming.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1994). Investors should plan for capital improvements and modernization, which can unlock value-add upside and strengthen competitive positioning against newer stock.
Within a 3-mile radius, demographics point to a growing renter pool: recent increases in population and households, alongside forecasts for further gains by 2028, signal a larger tenant base over time. Median rents and a rent-to-income profile consistent with workforce housing imply manageable affordability pressure, supporting lease retention while suggesting measured pricing power.
Home values in this area are lower relative to national benchmarks, which can create some competition from ownership options. For multifamily operators, that context emphasizes service quality and amenity strategy as drivers of lease retention rather than outsized rent lifts.
Safety indicators show mixed signals: property and violent offense measures sit below the national median on safety percentiles, while the most recent year shows meaningful declines in both categories. This improving trend can be supported with standard site security, lighting, and resident engagement, recognizing conditions vary across the metro and by block.
Underwriting typically budgets for routine safety measures and monitors local comps for directional shifts common in Houston-The Woodlands-Sugar Land neighborhoods.
The area draws from a diverse employment base that supports workforce and professional renter demand, anchored by nearby energy and healthcare corporate offices such as National Oilwell Varco, Anadarko Petroleum, McKesson Specialty Health, Hewlett Packard Enterprise, and FedEx Office.
- National Oilwell Varco — energy equipment (2.8 miles)
- Anadarko Petroleum — energy (13.2 miles) — HQ
- McKesson Specialty Health — healthcare services (13.4 miles)
- Hewlett Packard Enterprise Customer Engagement Center — enterprise technology (26.0 miles)
- FedEx Office Print & Ship Center — business services (27.1 miles)
3030 N Frazier St offers scale at 102 units in a renter-heavy neighborhood where occupancy trends remain competitive versus the Houston-The Woodlands-Sugar Land metro. Based on CRE market data from WDSuite, restaurant, grocery, and pharmacy access outperforms national averages, while limited parks/cafes suggest incremental value in on-site amenities. Within a 3-mile radius, recent and projected population and household growth point to a larger tenant base, supporting leasing stability and renter pool expansion.
Built in 1972, the asset is older than the neighborhood average, which points to clear value-add potential through unit/interior upgrades, exterior improvements, and systems modernization. Affordability appears manageable relative to incomes, reinforcing retention; however, lower local home values can create competition from entry-level ownership, warranting disciplined pricing and amenity strategy.
- Competitive neighborhood occupancy and high renter concentration support demand stability.
- 3-mile population and household growth expand the tenant base, aiding lease-up and retention.
- 1972 vintage provides actionable value-add and capex-driven upside to enhance positioning.
- Strong everyday amenities (restaurants, grocery, pharmacy) offset limited parks/cafes and support resident convenience.
- Risks: older systems capex, variable neighborhood safety, and competition from lower-cost ownership options.