| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 12th | Poor |
| Amenities | 5th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 643 FM 247 Rd, Huntsville, TX, 77320, US |
| Region / Metro | Huntsville |
| Year of Construction | 1992 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
643 FM 247 Rd Huntsville 36-Unit Value-Add Multifamily
Occupancy in the surrounding neighborhood sits near mid-market levels while the 3-mile renter pool is sizable, according to WDSuite’s CRE market data, positioning this 1992-vintage asset for operational upside through targeted upgrades and disciplined lease management.
Located in a rural pocket of Huntsville, the neighborhood rates C- and ranks 20 out of 24 within the metro, reflecting limited nearby amenities and a more auto-oriented lifestyle. Amenity density is low compared to neighborhoods nationwide, so resident appeal will hinge more on value, unit functionality, and commute patterns than on walkable retail.
Neighborhood occupancy is competitive among Huntsville neighborhoods (ranked 8 of 24), indicating reasonably stable leasing conditions even as the area tracks near the national middle. Within a 3-mile radius, households have expanded in recent years and are projected to continue rising, which supports a larger tenant base and can aid retention even if population trends fluctuate.
Tenure dynamics suggest depth for rentals: within a 3-mile radius, an estimated majority of housing units are renter-occupied, which points to a broad pool of prospective tenants and steadier demand for smaller, value-focused units. Neighborhood-level home values sit below national medians, which can introduce some competition from ownership; however, rent-to-income levels around the neighborhood imply manageable affordability pressure that supports lease stability.
For investors conducting multifamily property research, median contract rents in the neighborhood track around the national mid-range, while the local building stock skews newer than this property on average. That contrast can make renovated finishes, durable materials, and amenity-light operations important to remain competitive against newer stock without overcapitalizing.
Safety indicators are mixed when viewed in context. At the metro level, the neighborhood’s crime position is below the metro median (ranked 15 of 24), while national comparisons place it near the middle overall. Property offense rates benchmark modestly better than the national middle, and violent offense levels compare favorably to many neighborhoods nationwide, though recent year-over-year changes in violent incidents indicate volatility that investors should monitor over time.
Practical takeaway: portfolio underwriting should reflect standard rural Texas risk controls—lighting, access management, and coordination with local law enforcement—rather than assume block-level outcomes. Trend monitoring and tenant screening policies can help maintain stability as conditions evolve.
Regional employers within commuting distance provide a diversified base of energy and healthcare-adjacent jobs that can support renter demand and lease retention for workforce-oriented units.
- National Oilwell Varco — energy equipment and services (29.9 miles)
- Anadarko Petroleum — energy exploration and production (42.5 miles) — HQ
- McKesson Specialty Health — healthcare services (42.7 miles)
This 36-unit, 1992-vintage asset offers a straightforward value-add path in a rural Huntsville submarket where neighborhood occupancy is competitive among local peers and median rents sit near the national middle. The building’s older vintage versus the area’s generally newer stock suggests room to enhance positioning through targeted interior upgrades and basic curb appeal improvements, with capex focused on durable, low-maintenance finishes suited to smaller units.
Within a 3-mile radius, recent growth in households and a large renter-occupied share point to a broad tenant base and support for occupancy stability. While forecasts indicate population contraction, projections also show a continued increase in households with slightly smaller sizes—conditions that can still expand the renter pool. Rent levels remain moderate and neighborhood rent-to-income metrics imply manageable affordability pressure, aiding retention, according to CRE market data from WDSuite. Key risks include limited amenity density in the immediate area and sensitivity to regional employment trends, both of which should be reflected in leasing strategy and expense planning.
- Competitive neighborhood occupancy supports leasing stability versus local peers
- 1992 vintage offers clear renovation and operational value-add potential
- 3-mile renter concentration and household growth expand the tenant base
- Moderate rents and manageable rent-to-income support retention and pricing discipline
- Risks: low nearby amenity density and exposure to regional employment cycles