| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 43rd | Best |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 209 E 1st St, Los Fresnos, TX, 78566, US |
| Region / Metro | Los Fresnos |
| Year of Construction | 2012 |
| Units | 48 |
| Transaction Date | 2016-09-09 |
| Transaction Price | $2,800,000 |
| Buyer | Richard L. Coltrin |
| Seller | --- |
209 E 1st St Los Fresnos Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive occupancy for this Los Fresnos asset, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood, not the property itself.
Located in an Inner Suburb of the Brownsville–Harlingen, TX metro, the neighborhood holds an A- rating and ranks 23rd out of 133 metro neighborhoods, indicating competitive positioning within the market. Occupancy in the neighborhood is above the national median and competitive among Brownsville–Harlingen neighborhoods, supporting stability for multifamily operations (neighborhood metrics, not property performance).
Local livability supports renter appeal: grocery and pharmacy access sit above national medians, while cafes trend in the upper tier nationally. Public parks and formal childcare options are limited in the immediate area, which may modestly influence family-oriented amenity expectations. Average school ratings are in the top quartile among 133 metro neighborhoods and above the national median, a positive signal for retention among households prioritizing schools.
Renter-occupied housing represents a meaningful share of neighborhood units, indicating a viable tenant base for multifamily owners. Within a 3-mile radius, households have grown recently and are projected to expand further, pointing to a larger tenant base and potential renter pool expansion. Median home values are relatively accessible for the region, which can increase competition from ownership; however, the neighborhood’s rent-to-income profile suggests manageable affordability pressure that can aid lease retention.
The average construction year in the neighborhood is earlier than this property’s 2012 vintage. As a result, the asset should compete favorably versus older stock, while investors should still plan for typical mid-life system updates and selective repositioning to maintain leasing velocity.
Comparable neighborhood-level safety data are limited in the available WDSuite feeds for this location. Investors typically benchmark conditions against Brownsville–Harlingen metro trends and city reporting to understand relative safety over time rather than relying on block-level snapshots. A practical approach is to incorporate multiple sources and track trend direction to gauge potential impacts on leasing and retention.
Area employment is diversified across the broader metro, offering commute-accessible jobs that help support renter demand. Nearby corporate presence listed below reflects potential drivers of leasing stability for workforce renters.
- Dish Network — corporate offices (15.1 miles)
This 48-unit, 2012-vintage asset benefits from neighborhood occupancy that is competitive within the Brownsville–Harlingen metro and above the national median, supporting income durability. The newer construction should position the property well versus older local stock, with scope for targeted upgrades to sustain competitiveness. Neighborhood rent levels relative to incomes indicate manageable affordability pressure, aiding retention even as homeownership remains accessible in this market.
Population and household growth within a 3-mile radius signal a gradually expanding renter base, while grocery, pharmacy, and dining access align with daily-needs convenience. According to CRE market data from WDSuite, the submarket’s performance signals steady demand rather than outsized growth, favoring investors prioritizing stable operations with selective value-add.
- Competitive neighborhood occupancy supports income stability (neighborhood metric, not property performance).
- 2012 construction offers an edge versus older local inventory with room for targeted upgrades.
- Daily-needs amenities and rising household counts within 3 miles expand the renter pool.
- Balanced rent-to-income profile supports retention and lease management flexibility.
- Risk: Accessible homeownership and limited nearby parks/childcare could temper pricing power; plan for mid-life capital items.