| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 28th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Sam Houston Dr, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1980 |
| Units | 58 |
| Transaction Date | 2016-08-30 |
| Transaction Price | $1,550,000 |
| Buyer | COASTLINE MANAGEMENT SERVICES LP |
| Seller | TIMBERS ASSOCIATES LP |
1500 Sam Houston Dr, Harlingen Multifamily Opportunity
Neighborhood renter-occupied share is high, suggesting a deeper tenant base and demand stability, according to WDSuite’s CRE market data for the surrounding area. Investors may find consistent leasing potential driven by local workforce households rather than discretionary movers.
The property sits in an Inner Suburb location within the Brownsville–Harlingen metro, where the neighborhood carries a B rating and a renter-occupied housing share that ranks 5 out of 133 metro neighborhoods. That positioning is competitive locally and in the top quartile nationally, indicating a larger pool of renter households, which supports multifamily absorption and renewal rates. By contrast, the neighborhood occupancy level trends below the metro median (ranked 82 of 133), so underwriting should focus on product differentiation and retention initiatives.
Everyday retail access is a relative strength: grocery and restaurant density score in the mid-80s by national percentile, which typically supports renter convenience and lease retention. Other amenity categories such as parks, pharmacies, cafes, and childcare are thinner nearby based on lower national percentiles, so property-level amenities and on-site services can help reinforce competitiveness.
School ratings in the neighborhood land below the national median, which can matter for family renters; however, this submarket often serves workforce households whose priorities tilt toward commute, value, and essentials proximity. Median home values in the neighborhood are well below national norms (low national percentile), creating a more accessible ownership market that can introduce some competition with entry-level homebuying; investors should manage this through value, convenience, and service differentiation rather than rate-only strategies.
Within a 3-mile radius, population and households have increased recently, and WDSuite’s data point to further growth through the next five years alongside rising median contract rents. This combination suggests a gradually expanding tenant base with manageable affordability pressure (lower rent-to-income percentile locally), which can support occupancy stability while requiring disciplined pricing and renewal management.
Comparable crime metrics for this specific neighborhood are not available in WDSuite at this time. Investors typically benchmark property-level security measures and recent trend reports against city and metro averages to contextualize safety, then incorporate that into underwriting assumptions for marketing, operating expenses, and retention planning.
The area’s renter base is supported by nearby corporate offices that provide steady employment and commute convenience, which can aid tenant retention and leasing velocity. Key employers in proximity include Dish Network, United Parcel Service, and R R Donnelley & Sons.
- Dish Network — corporate offices (2.2 miles)
- United Parcel Service — corporate offices (32.9 miles)
- R R Donnelley & Sons — corporate offices (36.9 miles)
Built in 1980, the asset is older than the neighborhood’s average vintage and may benefit from targeted capital improvements and value-add upgrades to sharpen its competitive position. The immediate neighborhood shows a high share of renter-occupied units—competitive among 133 Brownsville–Harlingen neighborhoods and top quartile nationally—supporting depth of demand, while overall neighborhood occupancy trends below the metro median call for strong operations and differentiation. Based on CRE market data from WDSuite, the 3-mile area shows population and household growth with projected gains alongside rising median rents, pointing to a larger tenant base and potential for steady leasing.
Market context features strong access to essentials (notably grocery and dining) and a high-cost-of-ownership contrast is not present here, meaning ownership is relatively accessible and could compete with rentals. This underscores the importance of delivering convenience, service, and refreshed finishes to sustain pricing power and renewal rates as the renter pool expands.
- High renter-occupied share in the neighborhood supports depth of tenant demand and renewal stability.
- 3-mile demographics indicate population and household growth, expanding the renter pool and supporting occupancy.
- Essentials access (grocery and dining) enhances livability and helps retention versus nearby stock.
- 1980 vintage offers value-add and CapEx planning opportunities to improve competitive positioning.
- Risks: neighborhood occupancy below metro median and relatively accessible ownership options may pressure pricing—prioritize unit quality, service, and renewal strategy.