| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 25th | Poor |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Factory Outlet Dr, Hempstead, TX, 77445, US |
| Region / Metro | Hempstead |
| Year of Construction | 1993 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
700 Factory Outlet Dr, Hempstead TX Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and competitive occupancy, according to WDSuite’s CRE market data. The asset’s suburban setting offers stable tenancy potential for value-focused investors.
The property sits in a Suburban neighborhood within the Houston-The Woodlands-Sugar Land metro, rated B- by WDSuite. Neighborhood occupancy is competitive among Houston neighborhoods (ranked 548 out of 1,491), indicating generally steady leasing conditions that can support income stability for a well-managed asset.
Renter-occupied housing is a defining feature here: the neighborhood’s renter concentration is in the top tier nationally (96th percentile). For investors, that depth of renter households can translate to a broader tenant pipeline and supports baseline demand for multifamily units.
Livability is mixed. Everyday needs are serviceable via groceries and pharmacies near metro medians, but the immediate area offers fewer cafes and public parks than many neighborhoods, and average school ratings benchmark low versus national peers. For multifamily owners, this mix points to workforce-oriented demand and retention driven more by value, convenience, and commuting patterns than by lifestyle amenities.
Within a 3-mile radius, households have grown while population edged lower, signaling smaller household sizes and a renter pool that may favor efficient floor plans. Median home values are lower than large coastal markets, which can create some competition from entry-level ownership; however, rent-to-income metrics here indicate relatively manageable affordability pressure, supporting lease retention and steady renewals.
Neighborhood-level crime metrics were not available in WDSuite for this micro-area at the time of publication. Investors typically benchmark safety by comparing local law enforcement statistics and city reports against metro trends and touring at different times of day to understand conditions around the property and main commute routes.
The renter base benefits from commuting access to major corporate employers concentrated along the northwest Houston energy and business corridor, supporting weekday occupancy and lease stability. Notable employers within commuting distance include Hewlett Packard Enterprise, CenterPoint Energy, Enterprise Products, ConocoPhillips, Sysco, and other large corporate offices.
- Hewlett Packard Enterprise Customer Engagement Center — technology services (29.3 miles)
- Centerpoint Energy — utilities (32.9 miles)
- Enterprise Products — midstream energy (33.0 miles)
- Conocophillips — energy (34.1 miles) — HQ
- Emerson Process Management — industrial automation (34.5 miles)
- Sysco — foodservice distribution (35.3 miles) — HQ
- McKesson Specialty Health — healthcare services (36.4 miles)
- Anadarko Petroleum — energy (36.5 miles) — HQ
- Group 1 Automotive — automotive retail (38.0 miles) — HQ
- Wells Fargo Advisors — financial services (38.7 miles)
This 1993, 51-unit property aligns with workforce housing dynamics in Hempstead, where neighborhood occupancy is competitive within the Houston metro and renter-occupied housing is notably high. Based on CRE market data from WDSuite, local rent levels and rent-to-income positioning suggest manageable affordability pressure that can aid retention, while a growing household count within a 3-mile radius expands the tenant base even as average household size trends smaller.
Given its earlier vintage relative to the neighborhood’s newer housing stock, the asset presents potential value-add through targeted renovations and systems upgrades to strengthen competitive positioning against post-2005 product. Investors should also weigh the area’s limited lifestyle amenities and lower-rated schools, balancing them against commute access to large regional employers and the depth of renter households.
- Competitive neighborhood occupancy supports income stability
- High renter concentration expands the tenant pipeline
- 1993 vintage offers value-add potential versus newer stock
- Household growth within 3 miles supports demand for efficient units
- Risks: thinner amenity base and lower school ratings may temper lifestyle-driven demand