| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 16th | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1024 Morningside Rd, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 2005 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1024 Morningside Rd Brownsville 30-Unit Multifamily Investment
Neighborhood occupancy sits in the mid-90s and has trended up in recent years, supporting income durability for stabilized operations, according to WDSuite’s CRE market data. Relative affordability in the submarket helps sustain renter demand, though pricing power should be managed thoughtfully.
Located in an inner-suburb pocket of Brownsville, the property benefits from everyday necessities nearby. Neighborhood data shows strong access to groceries and parks relative to both the metro and nation, with grocery and park density in the top quartile nationally. Restaurant options are also competitive for the area. By contrast, cafes, childcare, and pharmacies are limited locally, which may temper some lifestyle appeal.
The neighborhood’s occupancy rate is above the metro median (ranked 30 of 133 Brownsville–Harlingen neighborhoods) and sits in the top quartile nationally, indicating stable leasing conditions for multifamily. Median asking rents in the neighborhood remain on the lower side versus national benchmarks, which supports absorption for workforce-oriented units while putting a premium on operational efficiency.
Construction vintage skews slightly newer than the local average; this 2005 asset should compare well against older stock from the 1990s while still warranting selective modernization and systems planning as it moves further past the 20-year mark. Home values in the surrounding neighborhood are lower than national norms, which can introduce some competition from ownership; investors should focus on value, convenience, and professional management to support retention.
Within a 3-mile radius, demographics point to a larger household base even as population was recently flat to slightly down; households have increased and are projected to grow further, with average household size trending smaller. This pattern typically expands the renter pool over time and can support occupancy stability. Renter-occupied units account for roughly two-fifths of housing within the 3-mile radius, indicating a meaningful tenant base for multifamily.
School ratings in the neighborhood average around 2.0 out of 5, below national norms. For family renters, that may influence sub-neighborhood preferences, but proximity to parks and everyday services helps maintain day-to-day convenience. Overall neighborhood rating registers a solid “B,” competitive among Brownsville–Harlingen sub-areas.
Safety signals are mixed and should be underwritten with care. Relative to the metro, the neighborhood’s crime rank is favorable (11th of 133), and national positioning is roughly mid-pack to slightly better than average (around the 50th percentile). Property offenses trend comparatively better, with local metrics placing the area among safer peers metro-wide and strong national positioning, while recent data also shows year-over-year improvement.
Violent offense indicators, however, show volatility with a sharp recent uptick on a one-year basis despite otherwise middling-to-better national placement. For investors, this argues for standard security measures, tenant screening, and monitoring of ongoing trends. Framing risk at the neighborhood level rather than the block level is prudent, and comparisons should be revisited during due diligence as new data becomes available.
Regional employers provide broader job access that can support renter retention for workforce housing; nearby telecom corporate offices are a notable node within commuting range.
- Dish Network — telecom corporate offices (25.0 miles)
This 30-unit 2005 multifamily offers steady occupancy drivers in an inner-suburban Brownsville location where neighborhood leasing runs above the metro median and in the top quartile nationally. Everyday convenience is a strength (notably groceries, parks, and dining), while limited specialty amenities nearby underscores the value proposition for professionally managed, well-maintained apartments. Within a 3-mile radius, households are increasing and are projected to expand further as average household size declines, which typically broadens the renter base and supports stabilization. According to multifamily property research from WDSuite, neighborhood rents remain relatively accessible, implying depth of demand with measured pricing power.
The 2005 vintage should compete well against older local stock, though investors should plan for targeted capital projects and modernization to sustain positioning. Lower local home values suggest some competition from ownership, but they also point to consistent workforce renter demand where convenience, management quality, and maintenance matter for retention. Underwriting should incorporate standard safety precautions given recent volatility in violent incident data, balanced against comparatively stronger property offense metrics.
- Above-metro neighborhood occupancy with top-quartile national positioning supports leasing stability.
- 2005 construction provides a relative edge over 1990s stock, with selective modernization for competitive lift.
- Household growth and smaller average household size within 3 miles point to a broader renter base over time.
- Everyday convenience (groceries, parks, dining) enhances livability for workforce renters.
- Risks: ownership alternatives may compete on cost; recent violent offense volatility warrants prudent security and monitoring.