| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 90th | Best |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2203 Riva Row, Spring, TX, 77380, US |
| Region / Metro | Spring |
| Year of Construction | 2006 |
| Units | 48 |
| Transaction Date | 2014-11-21 |
| Transaction Price | $405,000 |
| Buyer | WILLIAMS MARIA DENISE |
| Seller | KAY NELLIE R |
2203 Riva Row Spring TX Multifamily Opportunity
Neighborhood data points to a strong renter-occupied base and steady demand drivers, according to WDSuite’s CRE market data. One clear takeaway for investors is durable leasing supported by high neighborhood amenity access and above-metro income profiles.
Located in an Inner Suburb of the Houston-The Woodlands-Sugar Land metro, the neighborhood surrounding 2203 Riva Row exhibits top-tier livability signals that tend to support multifamily absorption and retention. Amenity access ranks highly (top quartile nationally) and is competitive among Houston neighborhoods (13 out of 1,491), with dense restaurant and cafe options and strong daily needs coverage (grocers and pharmacies). Average school ratings fall in the top quartile nationally, reinforcing family appeal and lease stability for larger floorplans.
From a housing perspective, neighborhood rents trend above national norms while the rent-to-income ratio around 0.19 suggests manageable affordability pressure for many households. Median home values sit on the higher end for the region, which in turn sustains renter reliance on multifamily housing and can aid pricing power and lease retention.
Tenure dynamics show a high share of renter-occupied units relative to many areas (93rd percentile nationally), implying a deep tenant base for multifamily product. While the neighborhood occupancy rate is below the national median, it has improved over the last five years, a constructive sign for stability as new supply is absorbed. Neighborhood NOI per unit also tests competitively (upper-tier nationally), signaling historically solid property performance potential in this locale.
Demographics within a 3-mile radius indicate population growth alongside a larger household count and smaller average household size over time, supporting a broader tenant pool and diversified unit mix demand. The neighborhood’s average construction vintage trends newer than many U.S. areas; this property’s 2006 construction is newer than the neighborhood average (1999), which can provide a competitive edge versus older stock while still warranting routine capital planning for mid-life systems and modernization.
Safety indicators are mixed but trending positively. The neighborhood’s crime rank is competitive among Houston neighborhoods (309 out of 1,491), and it sits modestly above the national middle of the pack. Property and violent offense rates have both declined sharply year over year, placing recent improvement in the top decile nationally, which may support leasing confidence if the trend continues. As always, investors should evaluate property-level security measures and recent local data as part of diligence.
Proximity to large corporate employers underpins commuter demand and supports renter retention, with energy and healthcare services especially prominent in the immediate area.
- McKesson Specialty Health — healthcare services (0.69 miles)
- Anadarko Petroleum — energy (0.81 miles) — HQ
- National Oilwell Varco — energy equipment (13.59 miles)
- Hewlett Packard Enterprise Customer Engagement Center — technology/customer engagement (13.86 miles)
- Centerpoint Energy — utilities (15.45 miles)
The investment case for 2203 Riva Row centers on a deep renter base, high neighborhood amenity access, and proximity to major employment nodes. According to CRE market data from WDSuite, the surrounding neighborhood ranks competitively within the Houston metro on overall livability and falls in the top quartile nationally on amenities and school quality. Although neighborhood occupancy is below the national median, five-year improvement and an elevated share of renter-occupied units point to durable demand and leasing resilience.
Built in 2006, the asset is newer than the neighborhood’s average vintage, supporting competitive positioning versus older stock. Demographic trends within a 3-mile radius show population and household growth alongside rising incomes, expanding the prospective tenant base and supporting rent levels. Higher home values in the area help reinforce reliance on rental housing, which can aid pricing power and renewal performance, while prudent asset management should monitor affordability and safety trends during hold.
- Deep renter-occupied base supports leasing stability and renewal potential
- Top-quartile amenities and schools enhance livability and tenant retention
- 2006 vintage offers competitive edge versus older stock with manageable mid-life capex
- Employment access to energy, healthcare, and tech nodes underpins demand
- Risks: neighborhood occupancy below national median and evolving safety metrics require active lease and security management