| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 78th | Best |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 Northshore Blvd, Portland, TX, 78374, US |
| Region / Metro | Portland |
| Year of Construction | 1998 |
| Units | 91 |
| Transaction Date | 2007-05-18 |
| Transaction Price | $1,267,500 |
| Buyer | CARRIAGE INN LP |
| Seller | METROPOLITAN LKBK LTD |
401 Northshore Blvd Portland TX Multifamily Opportunity
Household growth within a 3-mile radius and manageable rent-to-income dynamics suggest durable renter demand, according to WDSuite s commercial real estate analysis. Neighborhood fundamentals point to a balanced leasing environment with room for operational improvement.
The property sits in a suburban pocket of the Corpus Christi metro that ranks 4th of 121 neighborhoods (A+ rating), indicating it is competitive among Corpus Christi neighborhoods based on CRE benchmarks from WDSuite. Local schools are a relative strength, with the neighborhood s average rating placing 2nd of 121 and in the top quartile nationally, a factor that can support family-oriented renter retention.
Amenity access is solid for a suburban location. Caf E9 and restaurant density post national percentiles in the high 70s to low 80s, while parks also sit around the 80th percentile nationwide, supporting neighborhood livability. Service-oriented amenities like pharmacies and childcare are thinner, which may modestly influence convenience for certain renter segments.
On housing dynamics, the neighborhood s renter concentration is about one-third of housing units, consistent with a diversified tenure mix rather than a predominantly renter-driven submarket. Rent-to-income conditions appear manageable (nationally below mid-range), which can support pricing power without overextending affordability. While neighborhood occupancy is below national norms, operators focused on marketing and renewal execution can still achieve stable performance given the area s broader demand drivers and commute access within the metro.
Demographic statistics are aggregated within a 3-mile radius: the area has posted population growth over the last five years, with households expanding at a faster clip and average household size edging lower. Forward-looking projections indicate continued population growth and a substantial increase in households, which points to a larger tenant base and supports occupancy stability. Median and mean household incomes have risen, signaling capacity to absorb measured rent increases and sustain lease retention for quality assets.
Relative cost-of-ownership metrics are elevated versus many U.S. neighborhoods (home values trend above national midpoints), which tends to sustain reliance on multifamily rentals. Combined with neighborhood amenities and school strength, this supports a steady pool of prospective renters, even as operators should plan for thoughtful leasing strategies in light of below-average neighborhood occupancy.
Safety indicators compare favorably. The neighborhood places among the better-performing areas of the Corpus Christi metro (7th of 121 on select crime measures) and is in the higher national percentiles for safety. Violent-offense rates sit in the top quartile nationally with a notable year-over-year improvement, supporting resident peace-of-mind and lease retention.
Property-crime metrics also score well versus neighborhoods nationwide but have recently trended higher year over year. Investors should weigh the overall favorable standing against the recent uptick by emphasizing lighting, access control, and resident engagement to maintain the neighborhood s comparative safety position.
Built in 1998, the 91-unit asset is slightly older than the neighborhood s average vintage, creating potential value-add and capital planning opportunities to enhance competitive positioning against newer stock. Within a 3-mile radius, population growth and a faster rise in household counts point to a larger tenant base ahead, while neighborhood rent-to-income conditions suggest room for disciplined rent optimization. According to CRE market data from WDSuite, the submarket s strengths include school quality, amenity access, and a cost-of-ownership landscape that supports sustained renter demand.
Operationally, below-national neighborhood occupancy implies the need for focused leasing and renewal strategies, but the area s income profile and projected household growth support leasing depth. With measured upgrades and targeted asset management, investors can position the property to capture steady demand and improve performance over a multi-year hold.
- 1998 vintage provides clear value-add and renovation angles versus newer nearby stock
- 3-mile population and household growth expand the renter pool and support occupancy stability
- Manageable rent-to-income conditions offer room for disciplined pricing without undue affordability pressure
- Strong schools and solid amenity access aid retention and leasing velocity
- Risk: neighborhood occupancy trails national norms and recent property-crime upticks warrant proactive asset management