| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 21st | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23450 Johnson Rd, New Caney, TX, 77357, US |
| Region / Metro | New Caney |
| Year of Construction | 2007 |
| Units | 28 |
| Transaction Date | 2010-09-21 |
| Transaction Price | $912,500 |
| Buyer | M AND F CAPITAL LLC |
| Seller | REX TAMMY |
23450 Johnson Rd, New Caney TX Multifamily Opportunity
2007 vintage relative to a 1995 neighborhood average positions this asset as competitively newer stock, while local renter demand is shaped by an owner-heavy area and softer neighborhood occupancy, according to WDSuite’s CRE market data.
Situated in Montgomery County within the Houston-The Woodlands-Sugar Land metro, the neighborhood rates C and places 1,092 of 1,491 metro neighborhoods overall, making it competitive among Houston neighborhoods. Amenity access is mixed: parks and pharmacies track above metro medians, while cafes and restaurants are thinner. Average school ratings in the area are low, which may influence family-driven demand dynamics.
Renter-occupied units account for roughly one-fifth of neighborhood housing, indicating an owner-leaning base and a more selective but stable pool of renters. Neighborhood occupancy trends run below national medians, so investors should underwrite to prudent lease-up timelines and focus on retention. Median contract rents in the neighborhood are mid-market and rent-to-income levels suggest manageable affordability, supporting pricing power without overextending tenants.
Within a 3-mile radius, demographics point to notable population growth and a faster increase in households, implying smaller average household sizes over time and a larger tenant base for multifamily. Household incomes have risen, and forward projections show continued expansion in both households and the renter pool, which supports occupancy stability and absorption over the medium term. These trends, based on multifamily property research from WDSuite, frame an environment where workforce-oriented units can perform if positioned and managed effectively.
Home values in the neighborhood are lower than national averages, creating a relatively accessible ownership market compared with many metros. For investors, this can mean some competition from entry-level ownership; however, it can also sustain rental demand for well-located communities that deliver convenience and value, particularly for residents prioritizing commute times and flexible housing options.
Neighborhood safety indicators compare favorably in the region: the area’s crime rank sits at 212 out of 1,491 Houston metro neighborhoods, placing it above the metro average and roughly in the top third nationally by safety. Recent trend data shows sharp year-over-year declines in both property and violent offenses, with improvement measures ranking in the top decile nationwide. These are neighborhood-level trends and may vary by block; investors should align onsite operations and lighting, access control, and resident screening with standard policies for asset class and submarket.
Nearby employers span parcel logistics, energy, healthcare distribution, and oilfield services, supporting a diversified workforce and commute convenience that can aid tenant retention and leasing stability.
- FedEx Office Print & Ship Center — parcel logistics (6.7 miles)
- Anadarko Petroleum — energy — HQ (14.8 miles)
- McKesson Specialty Health — healthcare distribution (14.9 miles)
- Halliburton — oilfield services — HQ (16.2 miles)
- National Oilwell Varco — oilfield equipment (19.5 miles)
This 28-unit, 2007-built asset offers relatively newer product versus the area’s 1995 average, which can reduce near-term capital needs and enhance competitiveness against older stock. Neighborhood renter concentration is modest and occupancy trends are softer, but the 3-mile area shows strong population growth and faster household formation, expanding the tenant base and supporting steady absorption. According to CRE market data from WDSuite, median neighborhood rents and rent-to-income dynamics suggest room for thoughtful rent management while maintaining retention.
Forward-looking demographics point to continued increases in households and incomes within 3 miles, while proximity to major energy and logistics employers underpins workforce-driven demand. Execution should emphasize value-oriented positioning, resident experience, and targeted capital improvements to capture demand while navigating an owner-leaning neighborhood and potential competition from accessible ownership options.
- 2007 vintage relative to a 1995 neighborhood average offers competitive positioning versus older stock
- Expanding 3-mile population and faster household growth support a larger renter pool and occupancy stability
- Mid-market rents with manageable rent-to-income levels enable disciplined pricing and retention focus
- Diversified nearby employers (energy, logistics, healthcare) provide commute-friendly demand drivers
- Risks: softer neighborhood occupancy and accessible ownership options require conservative underwriting and strong operations