| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 67th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2755 Chestnut Ridge Dr, Kingwood, TX, 77339, US |
| Region / Metro | Kingwood |
| Year of Construction | 2006 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2755 Chestnut Ridge Dr Kingwood Multifamily Investment
Neighborhood occupancy in the mid-90s supports stable multifamily cash flow, according to WDSuite’s CRE market data. With solid amenity access in Kingwood and proximity to major employment centers, the asset’s location fundamentals are a core part of the investment case.
Situated in Kingwood, an Inner Suburb within the Houston-The Woodlands-Sugar Land metro, the neighborhood scores competitively among 1,491 metro neighborhoods and offers a mix of convenience and suburban quiet. Amenity access is a relative strength, with groceries, restaurants, parks, and pharmacies placing around the top quartile nationally, which tends to support resident retention and leasing velocity.
Neighborhood occupancy is in the upper quartile nationally, signaling steady renter demand and helping mitigate downtime between turns. The share of housing units that are renter-occupied is elevated (well above most U.S. neighborhoods), indicating a deep tenant base for multifamily properties and reinforcing demand stability through different cycles. Median contract rents in the area pair with household incomes to produce rent-to-income readings consistent with manageable affordability, which can aid lease retention.
Within a 3-mile radius, demographics show recent population and household growth, with forecasts pointing to continued expansion through 2028. A growing household count alongside slightly smaller average household sizes indicates a larger tenant base over time, supporting occupancy stability for well-located properties.
School ratings in the neighborhood trend below national medians, which may impact some family-oriented demand segments; however, everyday convenience remains strong given the area’s amenity density. Home values are elevated relative to many U.S. neighborhoods, which can sustain reliance on rental options and support pricing power for quality multifamily assets in this submarket.
The property’s 2006 construction is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still warranting planning for system updates and selective modernization to enhance rentability.
Safety indicators for the neighborhood trend below national averages, with crime measures comparing around the lower quintiles nationally. Recent data also shows a year-over-year uptick in both property and violent offenses, underscoring the need for active security, lighting, and property management practices. These are neighborhood-level trends, not property-specific conditions, and investors often address them through on-site controls and screening.
Relative standing within the Houston-The Woodlands-Sugar Land metro is mixed, so it’s prudent to underwrite conservative assumptions for security-related operating expenses and to emphasize visibility, access control, and community engagement when planning asset management strategies.
Proximity to corporate offices supports commuter convenience and broadens the renter pool, with a mix of logistics, energy, and healthcare employers within a typical drive of the property. These employment nodes help underpin leasing stability for workforce and professional tenants.
- FedEx Office Print & Ship Center — business services (3.4 miles)
- Halliburton — energy services (10.0 miles) — HQ
- Anadarko Petroleum — energy (14.8 miles) — HQ
- McKesson Specialty Health — healthcare services (14.8 miles)
- Centerpoint Energy — utilities (19.4 miles)
The asset’s location benefits from strong neighborhood fundamentals: high occupancy, robust amenity access, and an expansive 3-mile renter pool that is growing and becoming more diverse in household composition. According to CRE market data from WDSuite, the neighborhood sits in higher national percentiles for occupancy and amenities, which supports rentability and reduces downtime. Elevated home values for the area further sustain rental demand, while rent-to-income dynamics point to manageable affordability for lease management.
Built in 2006, the property is slightly newer than the local average, offering a competitive edge versus older stock. Value-add potential likely resides in targeted interior updates and systems refreshes over the coming hold to maintain lease-up velocity and support pricing, while underwriting should account for neighborhood safety variability and below-median school ratings.
- Occupancy and amenity strength support leasing stability and retention
- Expanding 3-mile renter pool underpins long-term demand and absorption
- 2006 vintage offers competitive positioning with targeted value-add upside
- Elevated home values reinforce reliance on rental housing, aiding pricing power
- Risks: neighborhood safety volatility and below-median school ratings warrant conservative underwriting