| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 25th | Poor |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20598 Pine Island Rd, Hempstead, TX, 77445, US |
| Region / Metro | Hempstead |
| Year of Construction | 1985 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20598 Pine Island Rd Hempstead, TX Multifamily Investment
Neighborhood fundamentals point to renter demand supported by a majority renter-occupied housing base within 3 miles, according to WDSuite’s CRE market data, with room for value-add positioning against older stock nearby.
This suburban pocket of the Houston-The Woodlands-Sugar Land metro trends more rural in amenity access, with low densities of groceries, parks, pharmacies, and cafés compared with most metro neighborhoods. Amenity access ranks 1,319 out of 1,491 metro neighborhoods, placing it below the metro median; investors should plan for convenience-focused features onsite to offset limited nearby retail.
Neighborhood occupancy is measured at the neighborhood level (not the property) and sits in the lower tier locally, ranked 1,378 of 1,491; this signals leasing may rely on careful unit positioning and competitive pricing. At the same time, within a 3-mile radius the share of housing units that are renter-occupied is substantial, supporting depth of the tenant base and potential occupancy stability through workforce demand.
Construction in the surrounding area skews newer (average vintage 2002; rank 368 of 1,491 — top quartile nationally). With a 1985 build, this asset is older than the neighborhood average, which points to straightforward value-add levers such as interior refresh, system upgrades, and curb appeal to compete with 2000s-era product while planning for capital needs.
Homeownership costs are elevated for the area relative to local incomes (value-to-income ranks in the 94th national percentile), which typically sustains reliance on rental housing and can support tenant retention. Median neighborhood rents are lower in the national context, and WDSuite data indicates rent-to-income around the area remains manageable, aiding lease management and renewal strategies.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections indicating further renter pool expansion over the next five years. For investors, a growing household count and a high renter concentration bolster leasing visibility despite thinner neighborhood amenities.
Neighborhood safety insights for this location are limited in the current dataset, and block-level claims are not available. Investors typically benchmark local conditions against Houston metro trends and consult recent law-enforcement and municipal reports to assess directional changes and property-specific risk mitigation.
From an underwriting perspective, prudent assumptions include lighting, access control, and resident engagement measures, with monitoring of year-over-year trends from trusted regional sources to track any improvements or emerging risks.
- Hewlett Packard Enterprise Customer Engagement Center — technology services (26.0 miles)
- Centerpoint Energy — utilities (29.5 miles)
- Enterprise Products — midstream energy (29.5 miles)
- Conocophillips — energy (30.6 miles) — HQ
- Emerson Process Management — industrial automation (30.9 miles)
The employment base skews toward large corporate offices within commuting distance, which can support workforce housing demand and resident retention. The list below highlights nearby employers that anchor this corridor.
Positioned in a low-amenity, workforce-oriented pocket of the Houston metro, the asset competes against a newer neighborhood stock with an older 1985 vintage. That age profile creates clear value-add pathways—interior modernization and systems upgrades—while a sizable renter-occupied share within 3 miles and projected household growth support a stable tenant base. Based on commercial real estate analysis from WDSuite, neighborhood occupancy runs below metro norms, so underwriting should emphasize competitive leasing strategy and operational execution rather than outsized rent growth.
Elevated ownership costs relative to incomes in the area reinforce reliance on multifamily housing, which can aid renewal rates and reduce turnover sensitivity. Forward-looking projections point to continuing renter pool expansion, but investors should note softer rent benchmarks in the area and plan for conservative pricing with emphasis on renovation-driven differentiation.
- Older 1985 vintage creates value-add potential versus 2000s-era neighborhood stock
- Majority renter-occupied housing within 3 miles supports tenant base depth
- Elevated ownership costs sustain rental reliance and can aid lease retention
- Risk: lower neighborhood occupancy and limited amenities require competitive leasing and amenity-light operating plans