| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 23rd | Fair |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 502 E Davis St, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2012-10-01 |
| Transaction Price | $1,281,300 |
| Buyer | AMMAJO DEVELOPMENT CO LLC |
| Seller | MEYER & MEYER INVESMENTS INC |
502 E Davis St Harlingen 24-Unit Multifamily
Renter concentration in the neighborhood is high and occupancy trends sit near the metro median, supporting steady demand for smaller units according to WDSuite’s CRE market data.
Rated A- and ranked 33 out of 133 in the Brownsville-Harlingen metro, the neighborhood is competitive among Brownsville-Harlingen neighborhoods. The area functions as an Inner Suburb with a balanced mix of services and residential streets, which tends to favor workforce renters and smaller-format units like those at 502 E Davis St.
Amenity access is a relative strength: grocery options and parks score in higher national percentiles, and cafes and restaurants are comparatively dense for the metro. A noted gap is pharmacy presence, which is limited locally. School ratings trend below the national median, an important consideration for family-oriented leasing strategies.
Neighborhood occupancy is around the metro median, while the share of renter-occupied housing units is in the top quartile among 133 metro neighborhoods. For investors, that combination points to a deep tenant base and generally stable lease-up, with the caveat that pricing power should be set with an eye to local income levels.
Within a 3-mile radius, demographics indicate a growing renter pool: population increased roughly 10% over the past five years and households grew faster, while average household size trended lower. Forward-looking estimates point to continued population and household growth, which typically supports occupancy stability and ongoing absorption for cost-efficient units.
Median home values in the neighborhood are low relative to national benchmarks, which can introduce some competition from entry-level ownership. However, rent-to-income levels are moderate by national standards, a dynamic that supports retention and consistent collections when lease management remains disciplined.
The property’s 1978 vintage is older than the neighborhood’s average construction year, suggesting capital planning for building systems and the potential for targeted value-add where finishes and common areas trail competing stock.
Neighborhood-level crime metrics were not available in WDSuite for this area at the time of publication. Without verified rankings or percentiles, investors commonly benchmark safety by comparing multi-year city reports, engaging with local property managers, and reviewing on-site conditions at varying times of day.
Given the absence of comparable rank data across the 133 neighborhoods in the Brownsville-Harlingen metro, a prudent approach is to triangulate qualitative observations with municipal trend reports to understand directionality rather than relying on block-level assertions.
Proximity to employers such as Dish Network, United Parcel Service, and R R Donnelley & Sons supports commute convenience for a workforce tenant base, aiding retention and day-one leasing.
- Dish Network — communications services (1.5 miles)
- United Parcel Service — logistics & parcel distribution (31.8 miles)
- R R Donnelley & Sons — printing & business services (36.2 miles)
502 E Davis St offers a small-unit profile (average ~412 sq. ft.) that aligns with budget-conscious renters in an Inner Suburb location where renter-occupied share is among the highest in the metro. Occupancy in the neighborhood sits near the metro median, and amenity access is solid for daily needs, which supports steady tenancy and lease-up. The 1978 vintage points to the need for ongoing system upgrades but also presents value-add potential through targeted renovations and common-area improvements.
According to CRE market data from WDSuite, local ownership costs are relatively low versus national norms, which can introduce competition from entry-level buyers; however, rent-to-income levels indicate manageable affordability pressure for renters, supporting retention when pricing is calibrated. Within a 3-mile radius, recent population growth and a faster increase in households, alongside a projected rise in both over the next five years, suggest a larger tenant base and continued demand for compact, efficient units.
- Renter concentration in the top quartile metro-wide supports depth of demand for a 24-unit asset
- Neighborhood occupancy near metro median with strong daily-needs amenities aids leasing stability
- 1978 construction offers clear value-add and systems-upgrade pathways to enhance competitiveness
- 3-mile radius shows population and household growth, expanding the local renter pool
- Risks: potential competition from entry-level ownership and capex needs tied to older vintage