| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 57th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2313 Shidler Dr, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 1974 |
| Units | 42 |
| Transaction Date | 2008-02-14 |
| Transaction Price | $7,500,000 |
| Buyer | CIRCULO RESIDENCIA AND BONAVENTURE LLC |
| Seller | BROWNSVILLE PORTFOLIO LLC |
2313 Shidler Dr, Brownsville TX — Multifamily Value-Add in Renter-Heavy Submarket
Neighborhood occupancy of 90.8% alongside a 53.9% renter-occupied share points to durable tenant depth, according to WDSuite’s CRE market data, with rents positioned for steady absorption rather than outsized volatility.
Situated in an Inner Suburb pocket of Brownsville (Neighborhood rating: A; rank 20 of 133 metro neighborhoods), the area supports stable multifamily operations with neighborhood occupancy at 90.8%. The renter-occupied share of housing units is 53.9%, indicating a sizable tenant base that can support leasing velocity and retention. Median contract rent is $793 with measured five‑year growth, while the rent‑to‑income ratio of 0.15 suggests room for disciplined pricing decisions rather than aggressive pushes.
Amenity access skews toward daily needs and dining: restaurants and cafés score in the upper national percentiles (restaurants 87th, cafés 92nd), and grocery availability sits near the national upper tier (79th percentile). Park and pharmacy counts within the neighborhood footprint are limited, which may modestly reduce walkable convenience for some residents but can be offset by short drives to services common in the Brownsville-Harlingen market.
Schools in the neighborhood average 3.0 out of 5 and track slightly above the national median (61st percentile), supporting family-oriented renter appeal. Compared with metro peers, the housing stock’s average construction year is 1981. The subject property’s 1974 vintage is older than this local norm, implying potential capital planning for building systems and offering value‑add renovation upside to sharpen competitive positioning against newer stock.
Demographics aggregated within a 3‑mile radius show population essentially flat over the past five years with household counts expanding, and forecasts point to a meaningful increase in households by 2028. A rising household base and smaller average household sizes typically expand the renter pool, supporting occupancy stability and sustained demand for well-managed, updated units. Home values are comparatively low for the region, which can introduce some competition from ownership; however, this high‑cost ownership market dynamic is less pronounced here, so multifamily demand should be anchored by value‑seeking renters and proximity to jobs, based on CRE market data from WDSuite.
Safety signals are mixed and should be monitored over time. The neighborhood’s overall crime rank sits at 37 among 133 Brownsville-Harlingen neighborhoods, placing it in a less favorable slice of the metro on this measure. Nationally, property offenses compare well (around the top quartile for safety at the 74th percentile), while violent offenses trend near the national median (52nd percentile). Recent one‑year changes in estimated offense rates have been volatile, so prudent underwriting would incorporate trend monitoring and standard property-level security measures, according to WDSuite’s CRE market data.
Regional employers within commuting range contribute to workforce housing demand, with corporate offices offering steady renter inflows that support retention and lease-up.
- Dish Network — corporate offices (22.0 miles)
This 42‑unit, 1974‑vintage asset sits in a Brownsville neighborhood with an A rating and a renter-occupied share of 53.9%, providing depth to the tenant base. Neighborhood occupancy of 90.8% and median contract rent of $793 suggest steady absorption prospects rather than outsized near‑term rent spikes. The property’s older vintage versus the local 1981 average points to clear value‑add potential through systems upgrades and interior renovations to enhance competitive positioning and retention.
Within a 3‑mile radius, households have grown and are projected to expand meaningfully by 2028, implying a larger tenant base and support for occupancy stability. Ownership costs are comparatively low for the region, which can introduce some competition; however, the current rent‑to‑income ratio near 0.15 provides room for careful revenue management. According to commercial real estate analysis from WDSuite, amenity access (notably dining and groceries) and a renter‑heavy housing mix underpin durable demand, with underwriting attention warranted for safety trends and targeted capex.
- Renter depth: 53.9% renter-occupied share supports leasing stability and renewal prospects.
- Occupancy around 90.8% indicates steady demand and manageable lease‑up risk.
- Value‑add path: 1974 vintage vs. neighborhood 1981 average suggests renovation and systems upgrade upside.
- Neighborhood amenities (dining, cafés, groceries) support renter appeal and day‑to‑day convenience.
- Risks: mixed safety signals and accessible ownership options warrant conservative underwriting and capex-driven differentiation.