| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 65th | Best |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2215 E Vinson Ave, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1999 |
| Units | 64 |
| Transaction Date | 2003-12-15 |
| Transaction Price | $1,359,800 |
| Buyer | HIC TEXAS II LLC |
| Seller | VINSON II LTD |
2215 E Vinson Ave Harlingen Multifamily Investment
Neighborhood occupancy is strong, supporting stable leasing and cash flow resilience according to WDSuite’s CRE market data, with schools rating well and renter demand reinforced by local demographics.
Located in an Inner Suburb of Harlingen, the property benefits from a neighborhood rated A and ranked 14 out of 133 within the Brownsville–Harlingen metro, placing it in the top quartile locally. Occupancy at the neighborhood level is high and ranks 20 of 133 (top quartile among metro neighborhoods) and is in the 84th percentile nationally, indicating durable tenant retention and reduced downtime risk.
Livability signals are mixed but workable for renters. Childcare access is competitive among metro neighborhoods (rank 22 of 133; 80th percentile nationally), and grocery availability also compares well within the metro (rank 51 of 133). By contrast, restaurants, cafes, parks, and pharmacies are sparse nearby, so on-site amenities and in-unit features can be meaningful differentiators. Average school ratings are strong (rank 6 of 133; 93rd percentile nationally), which can support family-oriented renter demand and longer tenures.
Renter-occupied housing accounts for 34.9% of neighborhood units, indicating a defined but not saturated renter base that can support steady leasing without excessive turnover. With a rent-to-income ratio around 0.11 (76th percentile nationally), renters experience comparatively modest affordability pressure, which tends to aid lease retention and measured rent growth, based on commercial real estate analysis from WDSuite.
Construction vintage for the asset is 1999 versus a neighborhood average of 1993. The newer vintage positions the property competitively against older stock while still warranting targeted system updates or cosmetic renovations as part of a value-add plan. Within a 3-mile radius, demographics show population growth of 10.9% since the prior period and an estimated 20.0% increase in households, expanding the tenant base. Projections suggest continued population growth of about 7% and a notable increase in households alongside smaller average household sizes by 2028, which can broaden demand for rental units and support occupancy stability.
Ownership costs are relatively accessible for the area (median home value context and value-to-income ratios trail national highs), which may introduce some competition from entry-level ownership options. That said, strong schools, high neighborhood occupancy, and steady renter concentration collectively point to resilient multifamily demand drivers that support consistent performance.
Safety conditions should be evaluated at the submarket and property level. Standardized neighborhood crime rankings are not available for this location in the current WDSuite release, so investors typically benchmark citywide trends, review recent comparable incidents, and assess on-site measures such as lighting, access control, and visibility.
High neighborhood occupancy and strong school ratings can correlate with community stability, but they are not substitutes for a formal safety review. Consider validating conditions through local law enforcement summaries, insurer guidance, and property-level security audits as part of diligence.
Nearby employers provide a steady employment base that supports renter demand and commute convenience, led by Dish Network, United Parcel Service, and R R Donnelley & Sons within driving distance.
- Dish Network — corporate offices (1.0 miles)
- United Parcel Service — logistics/distribution (33.0 miles)
- R R Donnelley & Sons — printing & business services (37.5 miles)
This 64-unit, 1999-vintage asset sits in a high-occupancy Harlingen neighborhood with strong school ratings and a defined renter base. The newer-than-average vintage provides competitive positioning versus older stock while allowing for targeted upgrades to capture value-add upside. Within a 3-mile radius, recent population gains and a larger household count point to a growing tenant base, and projections indicate further household expansion with smaller household sizes—factors that generally support occupancy stability and leasing velocity, according to CRE market data from WDSuite.
Investor considerations include modest amenity density in the immediate area and potential competition from relatively accessible ownership options, which place a premium on property-level features, management, and pricing discipline. Still, elevated neighborhood occupancy and measured rent-to-income levels suggest solid retention dynamics and steady demand for well-managed units.
- High neighborhood occupancy and strong schools support stable leasing
- 1999 vintage offers competitive positioning with value-add potential
- 3-mile radius shows population and household growth, expanding renter pool
- Rent-to-income dynamics indicate manageable affordability pressure aiding retention
- Risks: limited nearby amenities and competition from ownership options require pricing and asset management discipline