| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 28th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 309 E New Hampshire St, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 2008 |
| Units | 36 |
| Transaction Date | 2016-09-07 |
| Transaction Price | $2,156,300 |
| Buyer | HARLINGEN PARK LLC |
| Seller | ORCHARD MEADOWS LLC |
309 E New Hampshire St Harlingen Multifamily Investment
Neighboring area shows a deep renter base and everyday retail access, supporting stable tenant demand according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the neighborhood, not the property, and points to steady but competitive leasing conditions.
The property sits in an Inner Suburb pocket of Harlingen with a neighborhood rating of B among 133 metro neighborhoods. Renter-occupied housing represents a high share locally (ranked 5th of 133; 94th percentile nationally), indicating a deep tenant pool that can support multifamily demand and lease stability. Neighborhood occupancy is reported for the neighborhood and not the property; at its current standing (ranked 82nd of 133; 37th percentile nationally), investors should expect competitive leasing and focus on tenant retention.
Daily needs are convenient: restaurants per square mile are competitive among Brownsville-Harlingen neighborhoods (ranked 18th of 133; 86th percentile nationally) and grocery access is similarly strong (ranked 34th of 133; 85th percentile nationally). However, the immediate area shows fewer parks, pharmacies, and cafes, which may modestly limit lifestyle appeal relative to top-amenity districts. This mix suggests workforce-oriented livability with dependable food and grocery options over destination retail.
Within a 3-mile radius, demographics show population growth over the last five years alongside a notable increase in households and families, expanding the renter pool and supporting occupancy. Projections point to continued growth in population and households, with smaller average household size expected—factors that typically widen the base of prospective renters and aid lease-up and renewal performance. These trends are based on multifamily property research from WDSuite and relate to the surrounding area, not the specific asset.
Ownership costs in the neighborhood are on the lower side relative to the nation, which can create some competition with entry-level ownership. At the same time, neighborhood rents and a reasonable rent-to-income profile (neighborhood-level metric) can support retention and steady lease collections. Average school ratings are below the national midpoint, which is worth factoring into marketing strategies for family renters while balancing the area’s workforce appeal and proximity to services.
Neighborhood-level crime data is not available in WDSuite for this location. Investors commonly benchmark area safety by comparing local law enforcement reports, insurer data, and comps across the Brownsville-Harlingen metro. A practical approach is to evaluate trend direction and relative positioning versus nearby neighborhoods rather than relying on block-level conclusions.
- Dish Network — communications services (2.9 miles)
- United Parcel Service — logistics & distribution (32.3 miles)
- R R Donnelley & Sons — printing & business services (36.2 miles)
Nearby employers reflect a mix of communications and logistics operations that help anchor local employment and support workforce renter demand.
Built in 2008, the 36-unit asset offers relatively newer vintage versus much of the local stock, which can enhance competitive positioning while still allowing for selective updates to elevate rents. The surrounding neighborhood shows a high share of renter-occupied housing, providing a broad tenant base, while household growth within a 3-mile radius signals continued renter pool expansion and support for occupancy. According to CRE market data from WDSuite, neighborhood occupancy trends are serviceable but below the metro median, suggesting targeted leasing and renewal strategies will matter.
Home values nearby are comparatively low versus national norms, which can mean some competition from entry-level ownership; however, practical rent levels and a manageable rent-to-income profile at the neighborhood level support retention for value-oriented renters. Strong access to restaurants and grocery stores reinforces day-to-day convenience, while limited parks, pharmacies, and lower average school ratings are considerations when underwriting leasing velocity among family households.
- 2008 construction offers competitive positioning with potential value-add through targeted interior and systems upgrades.
- High renter-occupied share locally supports a deep tenant base and leasing durability.
- 3-mile household growth and projections indicate ongoing renter pool expansion, aiding occupancy stability.
- Everyday amenities (grocery and dining) nearby bolster livability for workforce renters.
- Risks: below-metro neighborhood occupancy, comparatively low ownership costs (potential competition), and limited parks/pharmacies plus lower average school ratings.