DISCOUNT TO MARKET RENTS

Woodglen Village is leased at a significant discount to nearby competitors, offering immediate mark-to-market upside for investors. Current rents average $1,131 per unit ($1.16/SF), compared to the similar vintage submarket average of $1,318 per unit ($1.35/SF), a $187 per-unit gap. This disparity presents an opportunity for organic rent growth and a return to historical rent levels. As of March 2025, annual GPR was $3,784,068, equating to an average market rent of $1,261 per unit ($1.29/SF).

NORTHWEST HOUSTON GREEN SHOOTS

Northwest Houston is showing improving fundamentals that support future rent and occupancy growth. As of April 2026, the submarket is 91.5% leased, up 2.1% over the past year, indicating steady demand recovery. Rents have risen 1.6% in the past six months, reflecting renewed pricing power amid stabilizing conditions. With no new supply delivered or under construction, competitive pressure remains low. As demand strengthens and concessions stay modest, Woodglen Village is well positioned to capture organic rent and occupancy gains as the submarket continues to normalize.

EXCELLENT VALUE-ADD OPPORTUNITY

Woodglen Village is a 2000-vintage community of spacious two- and three-bedroom units located directly across from Nitsch Elementary and Klein Intermediate School. Roughly 50% of units have been upgraded (stainless appliances, granite, new cabinetry); the remaining classic units offer a clear path to $150+/unit rent premiums upon renovation, in line with the Property’s historical market rents.