| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 41st | Fair |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 111 Clear Creek St, Hempstead, TX, 77445, US |
| Region / Metro | Hempstead |
| Year of Construction | 2000 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
111 Clear Creek St, Hempstead TX Multifamily Opportunity
Positioned in suburban Waller County, the asset benefits from a broad renter base and relatively low rent-to-income levels in the surrounding area, according to WDSuite’s CRE market data.
Hempstead sits on the northwest edge of the Houston-The Woodlands-Sugar Land metro with a suburban profile and a C- neighborhood rating. Amenities are sparse locally (amenities rank is in the lower tier among 1,491 metro neighborhoods), so residents typically draw from services along regional corridors rather than immediate blocks. That can temper walkability-driven leasing, but parking and drive-to-retail patterns are the norm for this submarket.
Rents in the nearby area are positioned in the middle of national norms, while the neighborhood’s rent-to-income ratio ranks in a stronger national percentile, indicating comparatively manageable tenant affordability that can support retention. Neighborhood occupancy ranks below the metro median (80.4% and in the lower national quintiles), suggesting leasing velocity may rely more on competitive positioning and management execution than in denser Houston submarkets.
Tenure patterns vary by geography: within the immediate neighborhood, the share of housing units that are renter-occupied is modest, while within a 3-mile radius renters account for a majority of occupied housing units (roughly seven in ten). For investors, that broader-radius renter concentration signals a deep tenant base to draw from, supporting demand stability even if the closest blocks skew more owner-occupied.
Three-mile demographics point to a younger-skewing mix and a growing household count over the past five years, with forecasts showing further household growth alongside smaller average household sizes. Even with a projected dip in total population, more households and rising incomes in the 3-mile area point to a larger tenant base and ongoing demand for rental units, a trend consistent with national multifamily property research. Median contract rents in the area are projected to rise through the mid-term, supporting steady revenue potential if operations remain competitive.
Safety indicators compare favorably at the national level. Overall crime conditions sit above national safety norms (higher percentiles indicate safer standing), with violent-offense measures in the top tier nationally. This positions the neighborhood competitively versus many U.S. areas from a risk-management perspective.
That said, recent local data shows a year-over-year uptick in property offenses, reminding investors to underwrite for standard security measures and monitor trends. Within the Houston-The Woodlands-Sugar Land metro (1,491 neighborhoods), this area’s safety profile is better than many peers on violent incidents but mixed on property-related activity, warranting pragmatic, not alarmist, assumptions.
Commuter access links Hempstead to major Houston employment nodes, supporting workforce housing demand. Key nearby employers include Hewlett Packard Enterprise, CenterPoint Energy, Enterprise Products, ConocoPhillips, and Emerson, which together provide diversified white-collar and industrial office employment pools that can aid tenant retention.
- Hewlett Packard Enterprise Customer Engagement Center — technology offices (28.9 miles)
- Centerpoint Energy — utilities (32.6 miles)
- Enterprise Products — midstream energy (32.7 miles)
- Conocophillips — energy (34.0 miles) — HQ
- Emerson Process Management — industrial automation (34.2 miles)
Built in 2000, the 56-unit property is slightly older than the neighborhood’s average construction vintage, creating potential value-add or modernization angles to enhance competitiveness against newer stock. The broader 3-mile area shows a sizable renter pool, rising household counts, and rent growth projections that, based on CRE market data from WDSuite, align with sustained multifamily demand even as the immediate neighborhood posts below-median occupancy.
Operationally, the opportunity leans on affordability, commute access to major Houston employers, and a favorable national safety comparison on violent incidents. Risks include amenity scarcity in the immediate area and mixed property-crime trends; underwriting should emphasize targeted renovations, leasing execution, and prudent security, with pricing set to capture rent growth while preserving retention.
- Broad 3-mile renter base and household growth support demand and occupancy stability.
- 2000 vintage offers value-add and modernization potential versus newer competing assets.
- Affordability and commute access to diversified Houston employers aid retention.
- Safety metrics compare favorably nationally on violent incidents, supporting risk management.
- Risks: below-median neighborhood occupancy, limited nearby amenities, and recent property-crime uptick.