| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 18th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1385 Military Rd, Brownsville, TX, 78520, US |
| Region / Metro | Brownsville |
| Year of Construction | 2011 |
| Units | 97 |
| Transaction Date | 2010-08-06 |
| Transaction Price | $2,944,800 |
| Buyer | LARA JOSE |
| Seller | GENTRY CAPITAL LLC |
1385 Military Rd, Brownsville TX — 2011 Multifamily with Stable Renter Demand
Newer 2011 construction relative to the area’s housing stock positions this 97‑unit asset to compete on finishes and maintenance, while neighborhood occupancy trends sit around the metro median according to WDSuite’s CRE market data.
Livability indicators are mixed but investable. Neighborhood occupancy is above the metro median (ranked 55 among 133 Brownsville–Harlingen neighborhoods), signaling steady rent rolls at the neighborhood level. Within a 3‑mile radius, renter-occupied units account for roughly four in ten homes, indicating a reasonable tenant base that can support leasing and renewals for multifamily operators.
The asset’s 2011 vintage is newer than the neighborhood’s average construction year (1999), which typically reduces near-term capital expenditure exposure and enhances competitiveness versus older stock; investors should still plan for routine system updates over the hold period.
Amenities trend toward essentials over lifestyle. Park access and childcare density score well compared with the metro, and grocery options are present, but restaurant, cafe, and pharmacy density is limited in the immediate neighborhood. Average school ratings are above the national median, which can support family retention even if entertainment options are less concentrated nearby.
Home values in the neighborhood are comparatively low versus national benchmarks, and neighborhood rents sit well below national levels. For multifamily investors, this combination points to manageable rent-to-income ratios (neighborhood metrics indicate lower affordability pressure), which can aid lease retention but may temper near-term pricing power relative to higher-barrier markets.
Demographics within a 3‑mile radius show recent population and household growth, with projections calling for further increases by 2028. A rising household count and gradually smaller average household sizes point to a larger tenant base and demand for rental units over the medium term.
Safety signals are nuanced. Compared with neighborhoods nationwide, the area rates in the top quartile for lower violent and property offense rates, suggesting comparatively favorable conditions. Within the Brownsville–Harlingen metro, the neighborhood’s safety standing is more mixed, and recent one‑year trends indicate an uptick in estimated incident rates. Investors should evaluate property-level controls and local policing trends alongside these metro-relative and national comparisons.
Put simply: relative national positioning is favorable, while metro rank data (measured among 133 neighborhoods) and recent trend direction warrant routine risk management and underwriting for security measures appropriate to the asset and tenant profile.
Regional employers within commutable range support workforce housing dynamics, offering a diversified pool of renters tied to corporate services.
- Dish Network — corporate offices (20.1 miles)
This 97‑unit, 2011‑built property benefits from neighborhood occupancy that trends around the metro median and a solid renter base within a 3‑mile radius, supporting day‑to‑day leasing and renewal stability. The newer vintage versus nearby housing stock should offer a competitive edge on deferred maintenance, with capital plans focused on routine systems and selective upgrades rather than heavy repositioning. According to CRE market data from WDSuite, local rent levels and rent-to-income ratios signal manageable affordability pressure, a profile that can support retention even if it moderates pricing power.
Neighborhood amenities lean practical (parks, childcare, grocery) with lighter restaurant and cafe density, which suits workforce renters. Demographic projections within 3 miles indicate further population and household growth by 2028, implying a larger tenant pool and reinforcing occupancy stability over the medium term. Key underwriting considerations include limited lifestyle amenity density, metro-relative safety rank movement in the latest year, and potential competition from accessible homeownership options.
- 2011 vintage versus older neighborhood stock reduces near-term capex and improves competitive positioning.
- Neighborhood occupancy above metro median supports stable rent rolls and renewal rates.
- Renter concentration within 3 miles and projected household growth expand the tenant base and support leasing.
- Manageable rent-to-income ratios aid retention, though they may limit near-term pricing power.
- Risks: lighter lifestyle amenity density, recent safety trend uptick within the metro, and competition from accessible ownership.