| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 28th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 765 Billy Mitchell Blvd, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 2004 |
| Units | 39 |
| Transaction Date | 2018-02-26 |
| Transaction Price | $1,359,400 |
| Buyer | 765 BILLY MITCHELL LLC |
| Seller | CENTRAL AVENUE APARTMENTS LLC |
765 Billy Mitchell Blvd Brownsville Multifamily Investment
Neighborhood-level renter concentration is high and occupancy has trended stable, according to WDSuites CRE market data, supporting consistent demand for smaller units near core amenities.
This Inner Suburb pocket of Brownsville-Harlingen ranks in the top quartile among 133 metro neighborhoods (A- rating), supported by daily-needs access. Neighborhood amenity density skews favorable for cafes and pharmacies (both above national medians), with solid grocery and restaurant coverage as well. Park space and formal childcare options are limited locally, which may matter for family-focused leasing strategies.
The neighborhoods housing stock skews older (average 1989), while the subject propertybuilt in 2004is newer than much of the competitive set. That positioning can reduce immediate capital intensity versus older comparables, though mid-life systems and common areas may still warrant targeted upgrades to sharpen competitiveness and support rent trade-outs.
Renter-occupied share in the neighborhood is 59.3%, indicating a deep tenant base and demand resilience for multifamily operators. Neighborhood occupancy has held near the high-80s over five years, helping underpin leasing stability. Within a 3-mile radius, households increased despite recent population decline, and projections call for a meaningful increase in households by 2028 alongside smaller average household sizesan expansion that generally supports multifamily absorption and renewals.
Rent levels in the 3-mile radius remain accessible relative to incomes, with neighborhood rent-to-income around 0.23 and five-year rent growth positive; this combination tends to aid retention and measured pricing power. Average school ratings in the neighborhood sit below national norms, which may influence unit mix targeting and marketing toward workforce renters. Overall, based on commercial real estate analysis from WDSuite, the locations amenity access and renter concentration balance well against these considerations for value-focused operations.
Safety indicators for the neighborhood are mixed. Relative to the 133 neighborhoods in the Brownsville-Harlingen metro, crime ranks above the metro median, but national comparisons place the area below the mid-range for safety. Property-related incidents benchmark comparatively better at the national level, while recent year-over-year volatility in both property and violent categories suggests operators should monitor trends and incorporate prudent security and lighting protocols.
Given these cross-currents, investors may view the area as competitive among metro peers but not a top national safety performer. Emphasizing onsite visibility, access control, and coordination with local resources can help support resident satisfaction and retention over the hold.
Regional employers contribute to a diversified workforce within commuting range, supporting renter demand and lease stability. Nearby office operations include the following employer within a typical drive time.
- Dish Network corporate offices (24.5 miles)
Built in 2004, this 39-unit asset is newer than much of the neighborhood stock and positioned for targeted mid-life upgrades to enhance competitiveness against older properties. Neighborhood-level renter concentration is high and occupancy has remained steady, while 3-mile household growth and declining household sizes point to a larger renter pool over the next cycle. Amenity access is serviceable for daily needs, and rent-to-income metrics suggest manageable affordability pressure that can support retention.
According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally, with strong cafes/pharmacies density and stable occupancy trends. Key watch items include limited park/childcare amenities, below-average school ratings, and mixed safety signals with recent volatilityfactors that can be mitigated with focused operations and value-oriented positioning.
- 2004 vintage offers value-add via selective renovations to interiors/common areas
- High neighborhood renter-occupied share supports depth of tenant demand
- Household growth and smaller household sizes within 3 miles support absorption and renewals
- Amenity access for daily needs underpins leasing convenience and retention
- Risks: mixed safety trends, limited parks/childcare, and below-average school ratings may temper family demand