| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 43rd | Good |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1655 W Monroe St, Brownsville, TX, 78520, US |
| Region / Metro | Brownsville |
| Year of Construction | 1978 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1655 W Monroe St Brownsville Multifamily Value-Add
Stabilized renter demand at the neighborhood level and a 1978 vintage position this 30-unit asset for pragmatic upgrades and steady operations, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Brownsville where renter-occupied housing is a meaningful share of units at the neighborhood level (neighborhood tenure), supporting a consistent multifamily tenant base. Neighborhood occupancy is reported at the neighborhood level and can differ from property performance; investors should underwrite to submarket comps rather than headline medians. Based on commercial real estate analysis from WDSuite, rents in this area start from a lower base but have shown measured growth over the last five years, which can aid leasing velocity while limiting pricing power.
Local amenity access is mixed: pharmacies are a relative strength, ranking first out of 133 metro neighborhoods (99th percentile nationally), and grocery options are competitive among Brownsville-Harlingen neighborhoods (rank 33 of 133). In contrast, parks and cafes are sparse (both ranked 133 of 133), suggesting residents rely on broader trade areas for recreation and third-place activity. Average school ratings are in the top quartile among 133 metro neighborhoods and above the national median, a supportive signal for family-oriented renters.
The neighborhood’s housing stock skews newer than the subject property, with an average construction year of 1995 (rank 73 of 133; above national median). That positioning creates potential differentiation: a 1978 asset may benefit from targeted renovations to remain competitive with newer comparables while keeping rents aligned with local affordability.
Within a 3-mile radius, demographics indicate a broad renter pool and signs of forward growth. Recent years were roughly flat on population, but forecasts point to increases in population and households, implying a larger tenant base and potential support for occupancy stability. Household sizes are trending modestly smaller in projections, which can sustain demand for smaller units and efficient layouts.
Home values are comparatively low for ownership in this neighborhood (rank 113 of 133; low national percentile), which can create some competition from entry-level ownership options. For multifamily investors, that backdrop favors value positioning and resident retention strategies over aggressive rent premiums, especially where rent-to-income ratios indicate moderate affordability pressure.
Safety conditions should be evaluated in comparative context. At the neighborhood level, overall crime sits below the national median (35th percentile nationally), and the neighborhood ranks 25 out of 133 within the Brownsville-Harlingen metro, indicating it trends less safe than many metro peers. One-year estimated changes show increases in both violent and property offenses at the neighborhood level, so investors may wish to monitor recent trend data and review property-specific security measures during due diligence.
Violent offense estimates are comparatively better positioned than property offenses on a national basis (around the upper third nationally for both categories), but the recent year-over-year change metrics indicate volatility. As always, safety outcomes vary by block and asset operations; align underwriting with current, property-specific data and comparable assets in the immediate area.
Employment access is supported by regional corporate offices that widen the commuting shed and help underpin renter demand. The list below reflects notable nearby employers relevant to the renter base.
- Dish Network — corporate offices (21.6 miles)
This 30-unit, 1978-vintage property offers a straightforward value-add path in a neighborhood where renter-occupied share is substantial and amenity access favors daily needs. According to CRE market data from WDSuite, neighborhood rents remain relatively low in absolute terms, supporting lease-up and retention, while the 3-mile demographic outlook points to population and household growth that can expand the tenant base over the medium term. The asset’s older vintage versus a neighborhood average of 1995 suggests targeted renovations and systems updates can improve competitive positioning without overshooting local affordability.
Key underwriting considerations include neighborhood-level occupancy that trails stronger metros, safety metrics that warrant monitoring given recent one-year changes, and competition from comparatively low-cost ownership. Balanced against these are durable renter demand drivers, pharmacy and grocery convenience, and projected household gains within 3 miles that can support stabilized operations and measured rent growth.
- 1978 vintage relative to 1995 neighborhood average supports value-add upgrades and operational upside
- Renter-occupied share at the neighborhood level signals depth of tenant base for multifamily
- 3-mile forecasts indicate population and household growth, supporting leasing and occupancy stability
- Daily-needs amenities are strong (pharmacies, competitive grocery access) aiding resident convenience
- Risks: neighborhood safety trends, below-metro occupancy, and competition from entry-level ownership