| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 58th | Good |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31938 Michael St, Magnolia, TX, 77355, US |
| Region / Metro | Magnolia |
| Year of Construction | 1983 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
31938 Michael St Magnolia 20-Unit Value-Add Multifamily
Neighborhood occupancy is high and renter demand is steady according to WDSuites CRE market data, positioning this asset for stable operations in an Inner Suburb setting. Metrics cited reflect neighborhood conditions, not the propertys individual performance.
Rated A and ranked 132 out of 1,491 Houston-The Woodlands-Sugar Land neighborhoods, this Inner Suburb location is competitive among Houston neighborhoods and sits in the top quartile nationally on several housing fundamentals. Neighborhood occupancy trends are strong, indicating consistent lease-up potential and retention for multifamily assets.
Amenities are moderate for a suburban node (grocery, parks, and pharmacies near the national middle, restaurants slightly above), supporting day-to-day livability without relying on urban densities. Average school ratings are around the national midpoint, a neutral factor for family-oriented renter demand.
Home values in the neighborhood are elevated relative to many U.S. areas, which generally supports sustained reliance on rental housing and aids pricing power for well-managed assets. With a neighborhood renter-occupied share around two-fifths, the tenant base is sufficiently deep to support leasing while not facing oversaturation.
The propertys 1983 vintage is older than the neighborhoods average construction year, pointing to potential value-add through common-area refreshes, in-unit updates, and systems modernization to enhance competitiveness against newer stock.
Within a 3-mile radius, the population and household counts have expanded and are projected to continue growing, with households increasing at a faster pace than populationsignaling smaller household sizes and a larger renter pool over time. These dynamics typically support occupancy stability and absorption for well-positioned multifamily properties.
Neighborhood safety indicators are mixed but generally competitive compared with many U.S. neighborhoods. Property offenses sit above the national middle on safety percentiles and have improved sharply year over year, while violent-offense measures track below the national median, warranting standard risk controls and active management.
Within the Houston metro context (1,491 neighborhoods), the area compares favorably to a broad set of suburban peers, and recent downward trends in property offenses reinforce a constructive direction. Investors should underwrite with prudent assumptions, leaning on lighting, access control, and tenant screening to sustain leasing stability.
Proximity to corporate nodes in The Woodlands and North Houston supports commuter convenience and leasing depth, drawing demand from energy, technology, and healthcare services clustered nearby.
- Hewlett Packard Enterprise Customer Engagement Center technology/customer engagement (17.7 miles)
- McKesson Specialty Health healthcare services (17.7 miles)
- Anadarko Petroleum energy offices (17.8 miles) HQ
- CenterPoint Energy utilities (21.7 miles)
- National Oilwell Varco energy equipment (21.9 miles)
This 20-unit Magnolia asset benefits from a high-performing neighborhood where occupancy trends rank near the top among Houston peers and sit in the top percentiles nationally, supporting rent collection consistency and renewal momentum. Home values in the area point to a high-cost ownership market, which tends to reinforce renter reliance on multifamily housing and sustain pricing power when operations are well managed.
Built in 1983, the property is older than the neighborhoods average stock, creating a clear value-add path through targeted interior upgrades and systems improvements. Nearby employment centers in The Woodlands and North Houston underpin demand, while 3-mile demographics show population growth and faster household growtha combination that typically expands the renter pool and supports occupancy stability. According to CRE market data from WDSuite, the neighborhoods renter-occupied share and strong occupancy provide a constructive backdrop, with standard underwriting warranted around capital planning and average school performance.
- Strong neighborhood occupancy and renter demand backdrop support stable leasing
- Elevated home values bolster multifamily reliance and pricing power
- 1983 vintage enables value-add through unit and systems upgrades
- Access to regional employers in The Woodlands/North Houston supports retention
- Risks: older systems and average schools require prudent capex and leasing strategy