| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 35th | Good |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3026 Old Highway 77, Brownsville, TX, 78520, US |
| Region / Metro | Brownsville |
| Year of Construction | 1972 |
| Units | 52 |
| Transaction Date | 2005-03-17 |
| Transaction Price | $59,600 |
| Buyer | REYES JUANA E |
| Seller | FARIAS ANNA MARIVEL |
3026 Old Highway 77 Brownsville Multifamily Investment
Neighborhood occupancy trends suggest steady renter demand, while a moderate share of renter-occupied units points to a durable tenant base, according to WDSuite’s CRE market data. Positioned in an inner-suburban pocket of Brownsville, the asset benefits from everyday retail access and a stable workforce draw.
This inner-suburban Brownsville neighborhood carries a B rating and ranks above the metro median (62 out of 133 neighborhoods), signaling broadly competitive fundamentals for a workforce-oriented property. Retail convenience is a clear advantage: grocery access sits in the top decile nationally, supporting daily needs and leasing stickiness, while restaurants are also comparatively prevalent. Third places like parks, pharmacies, childcare, and cafes are thinner locally, which places more weight on on-site amenities for resident satisfaction.
Renter concentration in the neighborhood is around two-fifths of housing units being renter-occupied, indicating a meaningful tenant base and generally stable leasing conditions. Neighborhood occupancy sits below national benchmarks, which suggests execution matters—active leasing, targeted turns, and competitive finishes can help capture demand. Median rents are comparatively accessible for the metro, supporting retention and manageable affordability pressure from a rent-to-income perspective.
Property vintage is an important consideration. The asset was built in 1972, while the area’s average construction year trends newer. Older vintage can translate into value-add potential through unit renovations, system upgrades, and curb-appeal improvements that improve competitive positioning against 1990s-and-newer stock.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with forecasts calling for continued expansion and slightly smaller average household sizes. For investors, that points to a gradually expanding renter pool and support for occupancy stability over the medium term, based on CRE market data from WDSuite.
Safety signals are mixed and should be evaluated at the neighborhood level rather than the property. Overall crime conditions trend below the metro average (ranked 34 out of 133 metro neighborhoods), and the neighborhood sits below the national median for overall safety. However, category details diverge: violent-offense indicators are comparatively favorable versus national norms (above the national median), while property-offense indicators also compare well nationally but have shown recent volatility with a notable year-over-year uptick. Investors should account for these dynamics in operational planning—lighting, access controls, and resident engagement—while monitoring trend direction.
Regional employers within commuting distance support a stable workforce renter base, with access suitable for residents prioritizing steady income sources and commute convenience. Key nearby presence includes Dish Network’s corporate offices.
- Dish Network — corporate offices (20.4 miles)
This 52-unit asset offers a straightforward value-add story in an inner-suburban Brownsville location with everyday retail access and a meaningful renter base. Built in 1972, the property is older than the neighborhood’s average vintage, presenting renovation and systems-upgrade potential to improve rentability versus newer competitive stock. Neighborhood occupancy trends sit below national levels, so hands-on leasing and finish differentiation should matter; nonetheless, household growth within a 3-mile radius points to a gradually expanding tenant base that can support stabilized operations. According to CRE market data from WDSuite, local rents remain relatively accessible for incomes, which can aid retention and reduce turnover friction.
Counterbalancing factors include mixed safety signals and more accessible for-sale housing relative to many national markets, which can temper pricing power. Still, strong grocery access and a stable workforce draw support day-to-day livability and renewal prospects. Execution around unit upgrades, curb appeal, and resident experience will likely drive outcomes.
- Inner-suburban location with strong grocery access and everyday retail convenience supporting leasing stability
- 1972 vintage creates clear value-add path via interior upgrades and system improvements
- Growing households within 3 miles signal an expanding renter pool and occupancy support
- Rents relatively accessible for local incomes, aiding retention and turnover management
- Risks: mixed safety trends and ownership alternatives may constrain pricing power; operations must emphasize leasing execution and resident experience