| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 18th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4650 Bowie Rd, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 2010 |
| Units | 96 |
| Transaction Date | 2010-06-22 |
| Transaction Price | $6,612,500 |
| Buyer | BOWIE GARDEN APARTMENTS LP |
| Seller | TORRES LUIS |
4650 Bowie Rd, Brownsville TX Multifamily Investment
2010-vintage units in an inner-suburb setting with strong park and grocery access point to durable renter appeal, according to WDSuite’s CRE market data. Neighborhood occupancy has been stable in the mid-80s while household growth nearby suggests a steady tenant base.
Located in Brownsville’s inner suburbs, the property benefits from practical amenities that support daily living and leasing. Park access ranks in the top quartile nationally and grocery availability is competitive versus many U.S. neighborhoods, while cafes, restaurants, and pharmacies are sparse. Average school ratings trend below the national midpoint, which may influence family-driven demand but can be offset by value-oriented positioning.
Neighborhood occupancy is in the high-80% range with only modest movement over the past few years, signaling workable stability by regional standards. Median contract rents in the neighborhood have trended upward over five years, and the rent-to-income ratio sits near 0.11, indicating relatively low affordability pressure that can support retention and measured rent growth. These metrics are for the neighborhood, not the property.
The share of housing units that are renter-occupied in the neighborhood is roughly three-tenths, suggesting a smaller immediate renter pool than more rental-heavy areas. Within a 3-mile radius, however, 41.6% of housing units are renter-occupied and households have increased by about 9.8% over five years, creating a larger tenant base for multifamily operators. Forecasts for the 3-mile area point to continued renter pool expansion through 2028 as households rise and average household size declines, which can support occupancy stability.
Construction in the neighborhood skews older (average year 1991), so a 2010 build positions this asset as relatively newer stock. That typically enhances competitive standing versus legacy assets, though investors should still plan for selective system updates and modernization to maintain leasing momentum over a longer hold.
Safety indicators are mixed and should be monitored. At the metro level, this neighborhood sits below the Brownsville–Harlingen median for safety (ranked in the lower third among 133 neighborhoods), indicating higher crime levels than many peers in the region. Nationally, recent estimates suggest property offenses are comparatively better than average (around the 70th percentile), while violent offenses sit near the national middle (about the 53rd percentile). Year-over-year changes show volatility in reported incidents, so tracking trend direction and timing lease strategies accordingly is prudent.
Regional employers within commuting distance provide a diversified employment base that can support renter demand; notable among them is a large telecommunications presence.
- Dish Network — telecommunications (24.1 miles)
This 2010 multifamily asset offers relative vintage advantage in an inner-suburb location where park and grocery access outperform national norms. Neighborhood occupancy has held in the high-80% range, and within a 3-mile radius households have grown even as average household size declines, expanding the tenant base and supporting leasing consistency. According to CRE market data from WDSuite, neighborhood rent levels have risen over five years while rent-to-income remains manageable, creating room for disciplined rent growth without overextending affordability.
As a newer build versus the 1991 neighborhood average, the property should remain competitive against older stock, though targeted capex for ongoing system upkeep and light modernization can help sustain absorption over the hold. Ownership costs in the area are relatively accessible, which may create some competition with homeownership; balanced pricing and value-add features can help sustain retention.
- 2010 vintage offers competitive positioning versus older neighborhood stock
- Parks and grocery access outperform national norms, aiding renter appeal
- 3-mile household growth and smaller household sizes expand the renter pool and support occupancy stability
- Rising rents with manageable rent-to-income support measured pricing power, per WDSuite data
- Risks: below-metro-average safety trends and more accessible ownership options may temper rent growth; plan for selective capex