| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 53rd | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3801 Center St, Deer Park, TX, 77536, US |
| Region / Metro | Deer Park |
| Year of Construction | 2011 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3801 Center St Deer Park Multifamily Investment Opportunity
Built in 2011 with 76 units, this Deer Park asset benefits from a suburban location where neighborhood occupancy trends are steady and renter demand is supported by nearby employment, according to WDSuite’s CRE market data.
Deer Park’s suburban setting offers daily-needs convenience with a concentration of groceries, restaurants, cafes, and childcare options that ranks above many Houston peers. Amenity density sits in the upper national percentiles for restaurants, groceries, cafes, and childcare, which can support resident retention and leasing velocity. Park and pharmacy access is thinner in the immediate area, so on-site offerings and nearby retail become more relevant to resident experience.
At the neighborhood level, this area is competitive among Houston-The Woodlands-Sugar Land neighborhoods (ranked 493 out of 1,491) and sits above the metro median for occupancy. Neighborhood occupancy has trended modestly higher over the past five years, reinforcing baseline stability for operators. Household incomes are strong relative to national benchmarks, and the neighborhood’s rent-to-income positioning indicates headroom for thoughtful rent management without overextending tenants.
Construction year for the subject property is 2011 versus a neighborhood average around 1999. The newer vintage provides a relative competitive edge versus older stock, while investors should still plan for mid-life systems upkeep and selective modernization to maintain positioning against ongoing deliveries.
Within a 3-mile radius, demographics indicate a large working-age base with households expanding modestly in recent years and projected to grow further, pointing to a larger tenant base over the medium term. Median home values in the neighborhood sit near national averages, and a low value-to-income ratio locally suggests ownership is comparatively accessible; for multifamily investors, that can translate to some competition from for-sale housing, making product quality and pricing discipline important. These dynamics, based on commercial real estate analysis from WDSuite, collectively support steady demand with measured rent growth expectations.
Safety indicators compare favorably at the national level, with the neighborhood performing above the U.S. average overall. Within the Houston metro (1,491 neighborhoods), conditions can vary by sub-area; the most recent trend shows notable improvement in property-related incidents, while violent incident measures have moved the other direction year over year. Investors should underwrite to the mixed trend—recognizing the improvement in property offenses while monitoring violent incident metrics—and consider standard security and lighting enhancements typical for suburban assets.
- Calpine Turbine Maintenance Group — energy services (5.9 miles)
- Boeing: Bay Area Building — aerospace offices (6.1 miles)
- Air Products — industrial gases (8.1 miles)
- Waste Management — environmental services (15.5 miles) — HQ
- Calpine — independent power (15.7 miles) — HQ
The area draws on a diversified employment base anchored by energy and industrial services, plus aerospace operations, supporting workforce housing demand and commute convenience for renters. Nearby employers include Calpine Turbine Maintenance Group, Boeing’s Bay Area operations, Air Products, Waste Management, and Calpine.
The property’s 2011 vintage offers a competitive position versus the neighborhood’s older average stock, supporting demand from renters seeking newer construction and modern layouts. Neighborhood occupancy trends sit above the metro median and have edged higher in recent years, pointing to stable leasing conditions. Strong household incomes locally and favorable rent-to-income positioning suggest room for disciplined rent strategies, while recognizing that ownership is comparatively accessible and may temper outsized rent growth. These factors, taken together with proximity to major energy and industrial employers, indicate resilient renter demand through cycles.
Population and households within a 3-mile radius are expected to expand over the next five years, implying a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, local amenities score well for daily needs and childcare, though limited park and pharmacy access places more emphasis on community features and nearby retail. Investors should plan for mid-life capital items typical of 2011 construction and monitor mixed safety trends while leveraging the property’s relative quality advantage.
- 2011 vintage competes well against older neighborhood stock; plan for mid-life systems and selective updates
- Neighborhood occupancy above metro median, supporting lease stability and retention
- Strong local incomes and favorable rent-to-income positioning support pricing discipline
- Employer proximity in energy, industrial services, and aerospace underpins steady renter demand
- Risks: accessible ownership options may compete with rentals; mixed safety trends and limited parks/pharmacies warrant active asset management