fountains echanted - loopnet · [email protected] 713-355-4646 ext 102 4295 san felipe, suite 355...

Echanted

94 Unit Multi-Family Asset in Gulfton Area of Southwest Houston

Fountains

KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I Houston, TX 77027 I 713.355.4646 I www.ketent.com

ENCHANTED FOUNTAINS 6909 RENWICK DR HOUSTON, TX 77081

Apartments for Sale

Units: 94

Avg Size: 756

Date Built: 1966

Rentable Sq. Ft.: 72,580

Acreage: 2.82

Occupancy: 97%

Class: C

SALIENT FACTS:

♦ Available on an All Cash or New Loan Basis ♦ Ideal to Upgrade

♦ Located in the Gulfton Submarket of SW Houston ♦ Gulfton has a high concentration of Hispanic residents

♦ LIHTC Tax Credits put on in 1993 (expiring in 6 yrs) ♦ Maintains high occupancy

♦ 94 Apartment units and 2 storage units! ♦ Candidate for City of Houston revitalization funds

♦ 100% of the units at 60% AMI ♦ Existing Rents under Market!

MARKET

For More Information Please Contact:

Tom Wilkinson [email protected]

713-355-4646 ext 102

4295 San Felipe, Suite 355 Houston, TX 77027

www.ketent.com License #406902


Valuation Est Mkt Rent (Jun-17)

Price Per Unit Amortization (months) 3 Mo Avg

Price Per Sq. Ft. Debt Service

Stabilized NOI Monthly P & I

Interest Rate

Date Due

Water Meter / Master RUBS Est Res for Repl/Unit/Yr

Yield Maintenance

Pitched/Flat

PRO-FORMA INCOMECurrent Street Rent with a 35% Increase $73,953 / Mo

Estimated Gross Scheduled Income $73,953 / Mo

Estimated Loss to Lease (2% of Total Street Rent) 2%

Estimated Vacancy (4% of Total Street Rent)Estimated Concessions and Other Rental Losses (4% of Total Street Rent) 4%

Estimated Utilities IncomeEstimated Other Income $35 / Unit / Yr

Estimated Total Rental Income

ESTIMATED TOTAL PRO-FORMA INCOME $68,684 / Mo

3 Mo Avg Income Annualized

Fixed Expenses2016 Tax Rate & Future Assessment

Estimated

$644 per Unit $807 per Unit

Gas

Total Utilities $855 per Unit $855 per Unit

Other ExpensesGeneral & Admin & MarketingRepairs & Maintenance higher than normal

Labor Costs higher than normal

Contract ServicesManagement Fees 4.91% $376 per Unit 4.00% $351 per Unit

Total Other Expense $3,691 per Unit $2,469 per Unit

Total Operating Expense $5,191 per Unit $4,131 per Unit

Reserve for Replacement $300 per Unit $300 per Unit

Total Expense $5,491 per Unit $4,431 per Unit

Net Operating Income (Actual Underwriting)

Asking Price "All In" Price

Estimated Utilities

$15,593 $166 per Unit $15,593 $166 per Unit

Utilities

Total Fixed Expense

Utilities

Electricity $78 per Unit$7,326

60,547

$57,460

75,862

(17,749)

(35,497)

$47,479

PRO-FORMA

887,436

824,212

3,302

(35,497)

22,218

Proposed Loan Parameters

$505 per Unit

2.37395Tax Rate (2016)

Est Future Tax Assessment $2,000,000

$1,554,302

2017 Taxes

Est Future Taxes

Property Tax Information

$236 / Unit / Yr

Estimated Fixed Expenses

Estimated Expenses

Yes

2.82Land Area (Acres) $407,671

6/17 operating statement$342 per UnitTaxes

EXPENSE

$719,948

Fixed Expenses

1966

Indiv

Date Built

Units per Acre

A/C Type: HVAC-Indiv

July 2016 thru June 2017 Expenses

33.290

Elec Meter

Roof Style

Physical Information

Number of Units

Net Rentable Area

MARKET

Avg Unit Size

Financial Information

94

756

72,580

DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to

independently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD

CAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the

right to withdraw this listing or change the price at anytime without notice during the marketing period.

$24,440

$174,146

$35,376

$28,992

$81,786

$26,695

$870 per Unit

MARKETMARKET

$284 per Unit

487,921

$308 per Unit

NOTES: ACTUALS: Income and Expenses calculated using owner's 6/17 operating statement. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using 2016

Tax Rate & Future Assessment. Insurance is estimated. Management Fees calculated as 4.% of Gross Income, Other expenses are Estimated for the Pro Forma. Window

coverings ($1,515) moved to capital

$103,400$1,853 per Unit

516,121

203,827

80,379

$57,460

97%

4%

$302

300

$300

4.3%

2017 Tax Assessment

$36,898

887,436

Est Ins per Unit per Yr

$54,780

$59,996

10 Yrs

$28,383

824,212

Operating Information

Est New Loan @ 75% of Value

Physical Occ (Jun-17)

$450 per Unit

$260 per Unit

$42,300

$611 per Unit

$ per Unit$0

Estimated Other Expenses

MODIFIED ACTUALS

$7,326 $78 per Unit

$302 per Unit$28,383

$32,164

80,379

$611 per Unit

$302 per Unit

$47,479

Trash

Water & Sewer

$ per Unit

Insurance

INCOME

28,200

346,995

Other Expenses

$308 per Unit$28,992

$1,100 per Unit

416,542

232,100$32,968

28,200

388,342

407,671

8/7/2017 EnchantedFountains

PROPERTY OVERVIEW

ENCHANTED FOUNTAINS 6909 RENWICK DR HOUSTON, TX 77081 Keymap: 531F

Construction Quality: C

Age: 1966 Access Gates Park & Ride Nearby Mortgage Balance

Elec Meter: Indiv Cable Ready Walk-In Closets Amortization Houston ISD $1.206700

A/C Type: HVAC-Indiv Club House School Bus Pick-up P & I Harris County $0.416560

Water: RUBS Laundry Rooms Shuttle Route Type Harris County Flood Control $0.028290

Wiring: Copper or Alum? Mini Blinds Patios/Balconies Assumable Port of Houston Authority $0.013340

Roof: Pitched/Flat Pool Laundry contract - Monthly Escrow Harris County Hospital District $0.017179

Paving: Concrete/Asphalt Bookshelves renewed in 2013 Origination Date Harris County Education Dept $0.005200

Materials: Brick/Wood Outside Storage Access gates with a Due Date Houston Community College $0.100263

# of Stories: 2 Ceiling Fans card key entry Interest Rate City of Houston $0.586420

Parking: Gulfton Municipal Mgt Dist $0.000000

Buildings: 4 Yield Maintenance 2016 Tax Rate/$100 $2.373952

Units/Acre: 33.29 Transfer Fee 2017 Tax Assessment

*In Select Units HCAD Improvement Sq.Ft. 72,550

12 Mo Avg 59,124$

July 2016 58,229$

Aug 2016 58,375$ 9 Mo Avg 59,344$

Sept 2016 58,788$

Oct 2016 58,493$ 6 Mo Avg 59,563$

Nov 2016 59,270$

Dec 2016 58,962$ 3 Mo Avg 59,996$

Jan 2017 58,618$

Feb 2017 58,918$

Mar 2017 59,852$

Apr 2017 60,108$

May 2017 59,668$

June 2017 60,211$

$1,554,302

COLLECTIONS

PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER.

PROPERTY HIGHLIGHTS

PROPERTY INFORMATION TAXING AUTHORITY - HARRIS COUNTYEXISTING MORTGAGE

ACCT NO: 0370580220021

AMENITIES

$57,000

$57,500

$58,000

$58,500

$59,000

$59,500

$60,000

$60,500

The Enchanted Fountains Apartments, is a two story, garden-style, apartment community located in the Gulfton submarket of SW Houston,Texas. The property is a

tax credit property and has maintained occupancies in the low to mid 90's for more than 3 years. The asset was built in 1966. Residents enjoy ample amenities which

include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets. Currently there are reportedly no leasing concessions. 26

units were totally or partially rebuilt after two fires. Payroll includes one manager, one porter and one maintenance man.

There is currently a LURA on the property which is set to expire in 6 years. 100% of the units are limited to 60% of AMI, per the LURA. Buyers must be approved by

TDHCA.

The current rents are approximately $200 under the 2017 max TDHCA 60% AMI limit. This along with cutting the Payroll and R&M expenses, gives the property great

upside potential.

The owner reports that the laundry contract was renewed in 2013 for either 5 or 7 years.

Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and tax advice. This offer is “As-Is, Where-Is”. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental issues, if any.

ENCHANTED FOUNTAINS 6909 RENWICK DR HOUSTON, TX 77081 Unit Mix

Unit Floor Type No. Units Sq Ft Total SqFtMarket

RentTotal Rent Rent/SF

2 Bed/2 Bath 4 980 3,920 $725 $2,900 $0.74

2 Bed/2 Bath 4 980 3,920 $685 $2,740 $0.70

2 Bed/1 Bath 6 1,000 6,000 $725 $4,350 $0.73

2 Bed/1 Bath 6 1,000 6,000 $645 $3,870 $0.65

1 Bed/1 Bath 16 680 10,880 $525 $8,400 $0.77

1 Bed/1 Bath 8 680 5,440 $540 $4,320 $0.79

1 Bed/1 Bath 17 680 11,560 $500 $8,500 $0.74

1 Bed/1 Bath 1 680 680 $550 $550 $0.81

1 Bed/1 Bath 8 975 7,800 $540 $4,320 $0.55

2 Bed/1.5 Bath 8 680 5,440 $725 $5,800 $1.07

1 Bed/1 Bath 6 680 4,080 $575 $3,450 $0.85

1 Bed/1 Bath 2 680 1,360 $540 $1,080 $0.79

1 Bed/1 Bath 6 680 4,080 $560 $3,360 $0.82

1 Bed/1 Bath 2 680 1,360 $540 $1,080 $0.79

Storage 2 30 60 $30 $60 $1.00

96 756 72,580 $560 $54,780 $0.75

Apartment Amenities Community Amenities

UNIT MIX APRIL 2017

TOTALS AND AVERAGESTotal

Units

Average

Sq. Ft.

Total Sq.

Feet

Average

Rent/UnitTotal Rent Average Rent/ SF

8%

13%

70%

9%

2 Bed/2 Bath 2 Bed/1 Bath 1 Bed/1 Bath 2 Bed/1.5 Bath

UNITS BY TYPE

PROPERTY LOCATION


RENT COMPARABLES


1 Villa Feliz*

6300 Rampart

2 Scottwood

5704 Edgemoor

3 Pelican Pointe

6009 Bellaire

4 Santa Monica*

7001 Hillcroft

5 Ashford at St Cloud*

6525 Hillcroft

* - Tax Credit and or Subsidized Housing

EWG-Resident Pays E(Electric), W(Water), G(Gas)

Totals/Averages Comps 1969 97% 174 901 $794 $0.881

Enchanted Fountains

6909 Renwick Dr

Sub-Market Averages(Gulfton) 94% 16,900 810 $733 $0.905

Houston Market Avgs 88% 628,534 881 $867 $1.098

RENT COMPARABLES (July 2017 ADS) Sorted by Avg Rent/Unit

P/SF

1969 99% 180 825 $704 E 0.853

Property Name Yr Blt Occ #Units Avg SF Avg Rent EWG

0.810

1965 94% 156 931 $814 EW 0.874

1975 99% 72 941 $762 E

1.035

1973 97% 302 1015 $844 EW 0.832

1962 97% 162 794 $822 N/A

$0.7551966 97% 96 756 $560 EW

ENCHANTED FOUNTAINS

APARTMENTS

3

2

1

4

5

SALES COMPARABLES


1 Santa Clara

7600 Marinette

2 White House

7525 Hillcroft

3 Fountain Oaks

5601 Chimney Rock

4 Barrington

5959 Bonhomme

5 Monticello Square

5312 Clarewood

Totals/Averages Comps $12,561,200 195,872 $55,369 $67.25 1970 240

Enchanted Fountains

6909 Renwick Dr

SALES COMPARABLES (Sorted by Price/Sq. Ft.)

Built

$20,150,000 381,300 $46,644 $52.85 1969 432

7/17 $3,172,000 49,830 $52,000 $63.66 1968 61

Asking

Property Name Date Sold Price Sq. Ft. Price/Unit Price/SF Units

MARKET 72,580 1966 96

6/16

$9,900,000 122,352 $75,000 $80.91 1964 132

UC $13,568,000 197,676 $51,200 $68.64 1968 265

UC $16,016,000 228,200 $52,000 $70.18 1981 308

ENCHANTED FOUNTAINS

APARTMENTS

1

4

3

2

5

HOUSTON, TEXAS 2 0 1 7 A T A G L A N C E

The City of Houston, the largest city in Texas and the fourth largest city in

the United States, is located on the coastal prairies of southeast Texas

and is home to a diverse array of industries and cultures. Houston is

located in Harris County, the nation’s third most populous county. The

Houston region, officially designated as the Houston - Woodlands -

Sugar Land Metropolitan Statistical Area (MSA), comprises Harris County

and eight other counties: Austin, Brazoria, Chambers, Fort Bend,

Galveston, Liberty, Montgomery, and Waller. The Houston MSA has a

population of approximately 6,656,947 according to new U.S. Census

Bureau estimates. The nine county metropolitan area is the fifth-largest

metropolitan area in the nation and covers 9,444 square miles. The most

urbanized portions of the Houston area are in Harris County, the

southern part of Montgomery County, and the eastern section of Fort

Bend County. Houston is home to the tenth largest port in the world and

is in close proximity to Mexico, a key trading partner. It has a temperate

climate and an affordable cost of living.

With a population exceeding 2.3 million, the population base includes a

wide variety of racial and ethnic groups that give Houston a rich

diversity and cosmopolitan feel.

The U.S. Bureau of Economic analysis estimates metro Houston's Gross

Domestic Product (GDP) at around $503.3 billion. If the MSA were an

independent nation, its economy would rank 23rd largest in the world,

behind Taiwan ($523.6 billion), but ahead of Sweden ($499.4 billion).

Source: Greater Houston Partnership Research, December 2016

Despite

Ever since its founding as a port city, Houston

has been a dynamic international

marketplace, attracting capital and people

from all over the world. Today, Houston is the

nation's fourth largest economy, and what

Forbes calls "America's next great global city."

Houston’s annual trade growth is among the

highest in the nation with a total annual trade

value growth of 84.6 percent, from $136.451

million in 2005 to $251.855 million in 2015;

exceeding the nation’s growth rate of 45.2

percent during that same period.

Houston is already a leading exporter, and our

exports have increased 189% since 2003. In fact,

Houston is the #1 metro exporter in the top

energy related industries. But recent low oil

prices have slowed our rate of growth. A plan to

boost goods exports can further diversify our

economy, help existing companies grow, and

create more jobs.

Houston's export plan will connect small and

medium-sized enterprises to growing markets,

while positioning the region as a location of

choice for global investors.


Despite Setbacks Houston Still has a Strong Economy

From 2010 to 2014, Houston added nearly half a million jobs. This period

of phenomenal growth provided the momentum needed to sustain the

region through the early stages of the energy downturn that began at

the end of '14. As oil prices and rig counts fell through '15 and early '16,

Houston's job growth began to slow. In '15, the region added 15,200

jobs, and added 13,400 jobs in the 12-months ending Oct '16. In spite of

the energy industry's worst downturn in history, Houston managed to

post 12-month net job gains throughout this period.

A strong U.S. economy, momentum from the previous economic boom,

robust population growth, and the $50 billion in petrochemical plant

expansions have helped offset losses in upstream energy and

manufacturing.

The goods-producing industries (mining and logging, construction, and

manufacturing) peaked at 586,300 jobs in December '14, then fell to

536,400 jobs in October '16. Mining and logging, primarily oil and gas

extraction and support activities, lost 25,600 jobs, a 22.9 percent

decrease. These losses rippled through the economy, triggering

declines in other sectors, particularly durable goods manufacturing,

wholesale trade and professional and business services.

Construction, helped by the petrochemical plant expansions on the

eastside of Houston, gained 6,100 jobs over the same period.

Manufacturing lost 30,400 jobs and fabricated metal products lost

12,100 jobs. Construction and mining machinery lost 14,200 jobs, and

computer and electronics lost 2,300 jobs.

The service-providing industries added 66,600 jobs between December

'14 and October '16. Gains in industries that rely on population growth

offset losses in sectors tied to energy. Trade, transportation, and utilities

lost 1,400 jobs, financial activities added 3,000 jobs, and professional,

scientific and technical services cut 7,700 jobs.

Healthcare and social assistance added 24,500 jobs, accommodation

and food services added 27,600, and government gained 14,700 jobs.

Houston's Service-Providing Sector Continued to

Add Jobs During the Energy Downturn

No Single Industry or

Sector Dominates

Houston Employment

Source: Texas Workforce Commission Aug '16

The service industries account for 4 out of 5 workers in the

region

The goods-producing sector accounts for nearly 1 in 5 of

the region's jobs

Renowned Real Estate Economist States:


2 0 1 7 E c o n o m i c F o r e c a s t

According to an article written by Jim Gaines, a research economist at the Real Estate

Center at Texas A&M University, dated January 6, 2017, in the Houston Business Journal,

"the economic downturn that began in November 2014 seems to be over." Jim Gaines

states that there is generally a two-to three-year lag between the time the energy sector

goes into a slump and all of its impacts on the economy are felt. Houston's energy slump

unofficially began on November 27, 2014, when OPEC announced it would not adjust oil

production levels. Gaines said that Houston should see some of the slump's final lag

effects in 2016.

Gaines also noted that 2016 is poised to be the best year on-record for Houston home

sales. The Greater Houston Partnership recorded that November 2016's home sales were

the best November on-record for single-family home sales.

Much of that boom can be attributed to Houston's population growth. Despite the

oil slump, few residents are leaving Houston. In 2016, Houston welcomed 132,000

new residents (45,600 households). Gaines also states that Houston's population

is expected to rise to 7.4 million by 2020 and should double to 14 million by 2050.

Additionally, according to an article dated January 11, 2017, by G. Scott Thomas of

Buffalo Business First, a sister paper to the Houston Business Journal, Houston is on the

brink of a population milestone. Buffalo Business First has developed a computer

formula that uses 15 years of demographic data to estimate the population of any

community at any given moment, and according to predictions by Business First,

Houston will reach 6.9 million on March 13, 2017 and 7.0 million on November 17, 2017.

What are other signals the downturn is

over?

As stated by the Greater Houston Partnership's '2017 Houston Employment Forecast':

West Texas Intermediate (WTI) the U.S. benchmark for light, sweet crude, now trades

near $50/barrel. WTI traded as low as $26 in mid-February 2016.

The number of drilling rigs working in the U.S. reached 593 in mid-November 2016. Only

404 rigs, the fewest in recent history, were in the field in mid-May 2016.

After 21 months below 50, the Houston Purchasing Managers Index hit 51.1 in October

2016. Readings above 50 signal pending expansion; below 50, contraction.

The region created 13,400 jobs in the 12 months ending October 2016. Annualized

growth had sunk as low as 3,200 jobs in May 2016.

The forecast also asserts, "the recent downturn could be compared to a tropical storm.

The damage done depended on where one stood as the system passed over Houston.

Those businesses closest to the energy industry felt the full fury of the storm. Those distant

from oil and gas, to extend the metaphor a bit further - on the dry side of the storm -

were buffeted but not blown away."

The forecast calls for the strongest job growth in manufacturing, wholesale trade, retail

trade, finance and insurance, real estate, business, professional and technical services,

other services and government.

Renowned Real Estate Economist States: ' The Downturn Seems to be Over'


Source: www.bizjournals.com, 1/6/16, Cara Smith

Since December 2014, developers have added more than 37,000 units to local inventory. Another 15,000 units are under construction, the majority scheduled to open in the next 12 months. That equates to 52,000 units delivered in a market that is just beginning to recover. Over the past 12 months, Houston has absorbed about 6,500 units. The over supply of apartments cut overall occupancy to 88.5% in January 2017, down from 91.5% at its June 2015 peak. Occupancy rates below 90% favor tenants. Rents have responded accordingly, dropping between 2% and 6% depending on the apartment class. The market absorbed 14,000 Class A units through the first 10 months of 2016, but this performance came at the expense of Class B, C and D properties, which collectively lost 7,500 tenants over the same period. Traditional Class B and C tenants have been enticed into the Class A market with deposit waivers, free rent (as much as 3 months) and other enticements. Whether these tenants renew their leases remains to be seen, but is however, doubtful. If one uses the industry rule of thumb that for every six jobs created, the market absorbs one unit, then Houston needs to add 156,000 jobs to cut the current surplus in half. Once the economy recovers, growth should return to the long-term trend - 50,000 to 60,000 per year.

MULTI-FAMILY.....

Moving Forward

Cautiously

Ignoring Class B and C Apartment

Market is a 'Big Mistake' During the economic downturn some Class B and C tenants were lured into

the Class A market with large free rent waivers and other concessions. With

the improving conditions, a large portion of these tenants will most likely not

renew and will return to the Class B and C market. In an article in the

Houston Business Journal, dated September, 28, 2016, by Paul Takahashi,

Todd Marix of Holliday, Fenoglio, Fowler (HFF) observed that ignoring the

Class B and C apartment market is a 'big mistake'.

As stated by the article, when Todd Marix brought Broadstone Grand

Parkway to market he expected to receive bids from six or seven interested

buyers - par for the oil downturn.

The 342-unit garden apartment complex, built in 2009, had solid occupancy

in the high 90th percentile but was offering two months free rent amid

increasing competition from nearby apartments in Katy.

However, Marix's multifamily investment team at HFF received a whopping

18 bids for the property. The deal is still under contract but Marix said it

sparked a bidding war between local and out-of-town private equity firms.

"We were shocked by the level of participation," Marix said. "We haven't

seen this kind of bidding behavior in a long time. It tells me there's some

optimism in the market."

Despite the oil slump, many opportunistic apartment buyers are returning to

Houston in search of good deals, according to Marix.

Young apartment investors are also looking to get into the market during the oil slump, Marix said. These buyers are willing to

accept lower rents for one or two years and hope that Houston's apartment market will recover around 2018.

"Buyers like Advenir are relatively new to Houston, but they like the recovery aspect," Marix said. "These buyers have patient

capital and want to buy in Houston at an advantageous time. They know things will be bumpy for the next year or two but are

hoping they will come out the other end with a great deal."

Most of these new Houston buyers are focusing on the city's Class B and C apartment market during the energy downturn,

Marix said.

Marix estimates there are about 620,000 apartment units in Houston, of which the majority - two-thirds - are Class B and C

apartments.


Source: www.bizjournals.com, 9/28/16, Paul Takahashi


DEMOGRAPHICS

1 Mile

Radius3 Mile Radius 5 Mile Radius

2017 Estimated Population 42,677 116,126 234,267

2022 Projected Population 47,658 129,788 261,291

2010 Census Population 38,808 104,689 212,545

2000 Census Population 41,688 105,212 207,135

Projected Annual Growth 2017 to 2022 2.3% 2.4% 2.3%

Historical Annual Growth 2000 to 2017 0.1% 0.6% 0.8%

2017 Median Age 30.3 31.9 33.2

2017 Estimated Households 14,231 42,112 96,484

2022 Projected Households 15,890 46,965 107,291

2010 Census Households 12,576 36,878 84,930

2000 Census Households 13,740 38,526 85,517

Projected Annual Growth 2017 to 2022 2.3% 2.3% 2.2%

Historical Annual Growth 2000 to 2017 0.2% 0.5% 0.8%

2017 Estimated White 50.8% 54.1% 56.4%

2017 Estimated Black or African American 8.9% 10.4% 12.3%

2017 Estimated Asian or Pacific Islander 8.8% 9.2% 10.5%

2017 Estimated American Indian or Native Alaskan 0.9% 1.3% 1.0%

2017 Estimated Other Races 30.6% 25.0% 19.8%

2017 Estimated Hispanic 69.9% 59.2% 46.4%

2017 Estimated Average Household Income $60,158 $80,121 $97,518

2017 Estimated Median Household Income $49,552 $64,237 $76,387

2017 Estimated Per Capita Income $20,117 $29,099 $40,208

2017 Estimated Elementary (Grade Level 0 to 8) 25.1% 21.1% 14.4%

2017 Estimated Some High School (Grade Level 9 to 11) 8.0% 6.7% 5.2%

2017 Estimated High School Graduate 28.0% 22.7% 18.4%

2017 Estimated Some College 13.6% 15.2% 15.6%

2017 Estimated Associates Degree Only 3.1% 3.8% 4.0%

2017 Estimated Bachelors Degree Only 12.7% 16.7% 23.1%

2017 Estimated Graduate Degree 9.6% 13.7% 19.3%

2017 Estimated Total Businesses 1,875 7,034 15,002

2017 Estimated Total Employees 14,103 58,020 143,593

2017 Estimated Employee Population per Business 7.5 8.2 9.6

2017 Estimated Residential Population per Business 22.8 16.5 15.6

PO

PU

LA

TIO

NIN

CO

ME

ED

UC

AT

ION

(AG

E 2

5+

)B

US

INE

SS

HO

US

EH

OL

DS

RA

CE

AN

D E

TH

NIC

ITY

51%

9%

9%

31%

0%

White Black Asian Other Hispanic

$64,552

$72,073

$60,000

$62,000

$64,000

$66,000

$68,000

$70,000

$72,000

$74,000

Subject Houston

30.1%

69.9%

Non-Hispanic

Hispanic

A 268 UNIT CLASS "B-/C+" GARDEN APARTMENT COMMUNITY

N/A

fountains echanted - loopnet · [email protected] 713-355-4646 ext 102 4295 san felipe, suite 355...

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