| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 35th | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1902 E Washington Ave, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1980 |
| Units | 120 |
| Transaction Date | 2010-10-06 |
| Transaction Price | $609,518 |
| Buyer | RODRIGUEZ LAND & PROPERTY REAL ESTATE IN |
| Seller | FIRST NATIONAL BANK |
1902 E Washington Ave Harlingen Multifamily Opportunity
Neighboring blocks show stable renter demand and occupancy near the metro median, according to WDSuite’s CRE market data, positioning this asset for consistent leasing in an Inner Suburb setting.
Located in Harlingen’s Inner Suburb, the neighborhood carries a B+ rating and ranks 37 out of 133 Brownsville–Harlingen neighborhoods, indicating it is competitive among metro peers. Neighborhood occupancy is 91.2% (rank 59 of 133), placing it above the metro median, while renter-occupied housing represents a large share (rank 8 of 133; 93rd percentile nationally) — a combination that supports a deeper tenant base and steadier demand for multifamily units.
Day-to-day services are convenient, with restaurants and grocery options comparing favorably to national levels (restaurants around the 77th percentile; groceries around the 86th percentile). However, the immediate area has thinner park, cafe, and pharmacy coverage, which may modestly affect lifestyle appeal and should be weighed in resident retention plans. Average school ratings in the area are below national medians (about the 37th percentile), which can matter for family renters and suggests careful positioning toward workforce and value-oriented segments.
Home values here are well below national levels, and median contract rents sit in lower national percentiles. For investors, a high-cost ownership market is not the story; instead, comparatively accessible ownership can introduce competition with entry-level buying. That said, rent-to-income ratios are relatively manageable (around 0.19), which can support retention and measured rent growth strategies without overextending affordability.
Within a 3-mile radius, WDSuite data shows recent population growth and a notable increase in households, with projections calling for additional renter pool expansion and smaller average household sizes over the next five years. This trend typically broadens the tenant base for smaller-format units and supports occupancy stability over a multi-year hold.
Comparable, neighborhood-level crime metrics are not available in the current WDSuite release for this location. Investors generally benchmark against city and metro trends and supplement with on-the-ground diligence, property-level incident histories, and insurer risk assessments to understand trajectory and resonance with resident profiles.
Nearby employers provide a mix of corporate services, logistics, and printing operations that can support workforce housing demand and commuting convenience for residents.
- Dish Network — corporate offices (0.8 miles)
- United Parcel Service — logistics (32.8 miles)
- R R Donnelley & Sons — printing services (37.0 miles)
This 120-unit property at 1902 E Washington Ave was built in 1980, making it older than the neighborhood’s average vintage. That positioning points to value-add and capital planning opportunities to enhance competitiveness against newer stock, while the area’s above-median occupancy and high renter concentration underpin a broad tenant base. According to CRE market data from WDSuite, the neighborhood’s livability is serviceable for daily needs, and the 3-mile trade area shows recent growth with additional household expansion projected — dynamics that can support leasing velocity for smaller-format units.
Lower home values and modest rents suggest a price-sensitive market where affordability and practical finishes matter more than premium amenities. Investors can focus on durable, rent-ready improvements and efficient operations to capture retention and incremental rent lift, while monitoring competition from ownership options and addressing amenity gaps that may affect resident satisfaction.
- High renter concentration and above-median neighborhood occupancy support demand depth and leasing stability.
- 1980 vintage offers clear value-add and system upgrade pathways to improve positioning versus newer assets.
- 3-mile radius shows population and household growth, expanding the tenant base for smaller units over time.
- Operational focus on affordability and durable finishes aligns with market rent-to-income dynamics.
- Risks: amenity gaps (parks/pharmacies), lower school ratings, and potential competition from accessible ownership options.