| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 30th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 651 Old Port Isabel Rd, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 2005 |
| Units | 56 |
| Transaction Date | 2022-04-01 |
| Transaction Price | $4,242,700 |
| Buyer | PUERTO ISABELA APARTMENTS LLC |
| Seller | FISH RANCH TRUST |
651 Old Port Isabel Rd Brownsville Multifamily Investment
Neighborhood occupancy is strong and the renter base is deep, supporting income stability for a 56-unit asset, according to WDSuite’s CRE market data.
This Inner Suburb pocket of Brownsville ranks 7th among 133 metro neighborhoods with an overall A rating, indicating solid local fundamentals for multifamily. Neighborhood occupancy is 97.5% (top quartile nationally), suggesting steady lease-up and limited downtime relative to broader U.S. trends.
Amenities are a relative strength: cafes (ranked 2 of 133), restaurants (11 of 133), groceries (15 of 133), and pharmacies (17 of 133) indicate daily-needs convenience competitive among Brownsville-Harlingen neighborhoods, which can aid retention and support consistent renter demand.
The property was built in 2005, newer than the neighborhood’s average 1987 vintage. That positioning typically supports leasing versus older stock, while investors should still plan for mid-life system updates and targeted modernization to sustain competitiveness.
Tenure data points to depth in the renter pool: 59.5% of housing units in the neighborhood are renter-occupied, which supports demand stability for multifamily assets. Within a 3-mile radius, households increased by roughly 10% over the last five years and are projected to expand further, indicating a larger tenant base ahead. Median contract rents in the neighborhood remain comparatively accessible and the rent-to-income ratio near 0.18 suggests manageable affordability pressure — useful for lease management and retention strategy.
Home values in this area are comparatively lower than national norms, which can introduce some competition from ownership options, but also aligns with workforce housing demand. Schools trend mid-range on average, and park access is limited locally, factors to consider in marketing and amenity planning.
Safety indicators are mixed when viewed against both metro and national benchmarks. Overall crime performance sits below the national median (35th percentile nationally), even as violent offense measures land in the top half nationwide and property offense indicators trend comparatively safer than many U.S. neighborhoods (both expressed as higher national percentiles being better). Among Brownsville-Harlingen’s 133 neighborhoods, the area’s rank suggests there is room for improvement relative to the metro on aggregate crime outcomes.
Recent year-over-year changes show volatility in reported offense rates. For underwriting, investors typically focus on multi-year trends and property-level controls (lighting, access management, and resident screening) rather than a single-year swing. Positioning should emphasize commute convenience and value while monitoring public-safety initiatives at the neighborhood level.
Regional corporate employment within commuting range supports renter demand and lease retention. Notable nearby employer representation includes Dish Network.
- Dish Network — corporate offices (22.4 miles)
651 Old Port Isabel Rd combines a 2005 vintage with a neighborhood exhibiting high occupancy and a substantial share of renter-occupied housing units. According to CRE market data from WDSuite, this submarket’s amenity access and strong neighborhood ranking point to durable day-to-day convenience that supports leasing, while comparatively accessible rents and a balanced rent-to-income profile can aid retention. Smaller average unit sizes (518 sq ft) align with workforce demand profiles and can be well-positioned with targeted upgrades.
Forward-looking demographics aggregated within a 3-mile radius indicate household growth and rising incomes, which can expand the renter pool and support occupancy stability over time. Key underwriting considerations include mixed safety readings, mid-life building systems typical of a 2005 asset, and competition from ownership given lower local home values.
- High neighborhood occupancy and deep renter concentration support leasing stability
- 2005 construction offers competitive positioning vs. older stock; plan for mid-life capital items
- Amenity-rich setting and accessible rents bolster demand and retention
- 3-mile household growth and income gains enlarge the tenant base
- Risks: mixed safety metrics and potential competition from ownership options