| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 23rd | Fair |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1602 N Commerce St, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1998 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1602 N Commerce St, Harlingen TX Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data. With a renter-occupied share positioned among the stronger areas of the Brownsville–Harlingen metro, the asset aligns with workforce housing dynamics.
Livability indicators are constructive for workforce-oriented multifamily. Amenity access scores competitive among 133 Brownsville–Harlingen neighborhoods (neighborhood rank 9 of 133), with grocery and park density in the higher national percentiles, supporting daily convenience and retention. School ratings trend below national norms, which may shape unit mix and leasing strategies for family households.
Operationally, neighborhood occupancy sits above the metro median (rank 60 of 133), and the share of renter-occupied housing units ranks in the top quartile among 133 metro neighborhoods (rank 23), indicating a deeper tenant base for multifamily. Median contract rents in the neighborhood are lower versus national norms, which can aid lease-up and renewal velocity; investors should calibrate pricing to sustain occupancy while monitoring expense growth.
Within a 3-mile radius, population has expanded and households have increased meaningfully in recent years, with forecasts pointing to further household growth by 2028. This trajectory suggests a larger tenant base and supports occupancy durability for well-managed product. Use this as part of a broader commercial real estate analysis, and weigh it against submarket comps and property condition.
Vintage matters: built in 1998 versus a neighborhood average year of 1982, the property is newer than much of the surrounding stock, offering relative competitiveness and potentially moderated near-term capital needs, though investors should evaluate aging systems and any modernization opportunities for revenue lift.
Comparable, property-level safety data for this specific neighborhood is not available in WDSuite at this time. Investors typically benchmark city and county trends, review multi-year patterns, and incorporate on-the-ground observations to contextualize risk alongside leasing and retention goals.
Given the lack of ranked crime data for this neighborhood within the Brownsville–Harlingen metro, prudent underwriting includes sensitivity testing around security, lighting, and site-level operations as part of overall risk management.
Nearby employers provide a mix of telecom, logistics, and business services that support local renter demand and commute convenience. The list below highlights notable corporate offices by proximity that can help underpin leasing stability.
- Dish Network — telecom services (2.5 miles)
- United Parcel Service — logistics & distribution (30.8 miles)
- R R Donnelley & Sons — printing & business services (35.2 miles)
This 34-unit, 1998-vintage asset in Harlingen benefits from a renter-concentrated neighborhood and convenience-oriented amenities, supporting stable absorption and renewal potential. Median neighborhood rents trend below national levels, which can facilitate occupancy resilience while leaving room for programmatic upgrades to drive revenue. According to CRE market data from WDSuite, the surrounding area posts above-median metro occupancy and a top-quartile renter-occupied share, reinforcing depth of demand.
Within a 3-mile radius, both current and forecast increases in households point to a growing tenant base through 2028, even as average household size moderates. Combined with a newer-than-local-average vintage, the property is positioned to compete on livability and cost-of-housing alternatives, provided ownership manages capital planning and amenity refreshes to maintain pricing power.
- Renter-concentrated neighborhood supports demand depth and occupancy stability
- 1998 vintage is newer than area average, offering competitive positioning with targeted modernization upside
- 3-mile household growth outlook expands the tenant base and supports leasing velocity
- Lower relative rents aid renewals and pricing flexibility versus national comps
- Risks: below-average school ratings and more accessible ownership options may temper long-term pricing power