| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 17th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 E Elizabeth St, Brownsville, TX, 78520, US |
| Region / Metro | Brownsville |
| Year of Construction | 2006 |
| Units | 20 |
| Transaction Date | 2015-10-12 |
| Transaction Price | $862,500 |
| Buyer | RIPA LLC |
| Seller | PARRA MANAGEMENT PARTNERSHIP LTD |
101 E Elizabeth St, Brownsville TX Multifamily Investment
Built 2006 in an older housing corridor, this 20-unit asset benefits from a high renter-occupied neighborhood base and solid amenity access, according to WDSuite’s CRE market data, supporting steady tenant demand even as neighborhood occupancy trends run below the metro median.
Situated in Brownsville’s Inner Suburb fabric, the property sits in a neighborhood rated B and ranks 57 out of 133 metro neighborhoods overall, indicating competitive positioning among Brownsville-Harlingen submarkets. Amenity access is a relative strength: restaurants and grocery options rank 6 and 23 out of 133 respectively, pointing to convenient daily-needs and dining density for residents. Parks access also ranks 13 of 133, adding lifestyle appeal that can aid leasing and retention.
The neighborhood’s renter-occupied share is high (ranked 6 of 133), signaling a deep tenant base for multifamily. However, neighborhood occupancy is below the metro median (ranked 106 of 133) and has been roughly flat over the past five years, suggesting investors should underwrite to consistent but not tight occupancy conditions at the neighborhood level rather than at the property level.
Vintage is an advantage here: with an average neighborhood construction year around 1968 (ranked 130 of 133), a 2006 build competes well against older stock. Newer systems and layouts can support leasing velocity versus nearby legacy assets, though selective modernization may still be prudent for durability and repositioning.
Within a 3-mile radius, household counts have grown despite a modest population contraction, and forecasts point to additional household growth alongside smaller average household sizes. This shift typically expands the renter pool and supports occupancy stability for well-located workforce housing. Rents in the neighborhood benchmark on the lower side versus national norms, which can aid retention but may temper near-term pricing power.
Notable gaps include limited nearby childcare and pharmacy presence (both rank at the bottom of the metro set), which may influence tenant preferences for certain household types. Even so, the area’s food, park, and grocery density, combined with a strong renter concentration, underpins consistent demand for attainable units based on commercial real estate analysis from WDSuite.
Safety indicators are mixed. The neighborhood’s composite crime rank is 45 out of 133 metro neighborhoods, placing it below the metro median and below the national median for safety. Property offense levels benchmark closer to midpack nationally, while violent offense measures sit around the national midpoint, per WDSuite’s CRE data context.
Year-over-year changes have been volatile, so investors should focus on multi-year trends and compare against peer submarkets in Brownsville-Harlingen. Framing risk at the neighborhood level—not the property level—helps calibrate security planning, lighting, and management practices to support leasing and retention.
Regional employment is diversified, with commuting access to larger corporate nodes that can broaden the renter pool. Nearby roles include telecom services.
- Dish Network — telecom services (22.8 miles)
This 2006-vintage, 20-unit property offers relative competitiveness in an older housing corridor where many buildings predate 1970. The neighborhood shows strong renter concentration and convenient access to daily-needs retail and dining, supporting leasing fundamentals. According to CRE market data from WDSuite, neighborhood occupancy runs below the metro median, so underwriting should prioritize consistent operations and retention over aggressive rent-ups. Within a 3-mile radius, household growth and smaller household sizes point to renter pool expansion that can support steady absorption of attainable units.
Investment considerations include balancing affordability-driven retention benefits against limited near-term pricing power, monitoring neighborhood safety trends, and planning for targeted updates that keep a 2006 asset competitive versus older stock. Low ownership costs in the area can introduce competition with entry-level homebuying, but the high share of renter-occupied units suggests enduring demand for well-managed multifamily.
- Newer 2006 vintage competes well versus older neighborhood stock; selective modernization can further enhance positioning.
- High renter-occupied share indicates a deep tenant base and supports leasing stability.
- Strong access to restaurants, groceries, and parks aids resident convenience and retention.
- Household growth within 3 miles and smaller household sizes signal renter pool expansion and consistent demand.
- Risks: below-metro neighborhood occupancy, mixed safety signals, and competition from relatively low ownership costs.