| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 67th | Best |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4601 Carmen Ave, Rancho Viejo, TX, 78575, US |
| Region / Metro | Rancho Viejo |
| Year of Construction | 1982 |
| Units | 96 |
| Transaction Date | 2002-11-07 |
| Transaction Price | $75,400 |
| Buyer | GALINDO ANGELICA A |
| Seller | SEVIER JOHN H |
4601 Carmen Ave, Rancho Viejo TX Multifamily Investment
Renter demand is supported by household growth within a 3-mile radius and steady neighborhood occupancy, according to WDSuite’s CRE market data. The asset’s suburban-rural setting offers stability but may rely on nearby Brownsville–Harlingen for broader amenities.
The property sits in Rancho Viejo within the Brownsville–Harlingen, TX metro, where the neighborhood is rated A and ranks 15 out of 133 metro neighborhoods—competitive among Brownsville–Harlingen neighborhoods and above the metro median. Neighborhood occupancy has trended higher over the past five years, supporting leasing stability for multifamily operators.
Amenity access inside the immediate neighborhood is limited—cafes, parks, and pharmacies are sparse—so residents typically draw on nearby corridors for daily needs. Grocery and restaurant access is moderate relative to the metro, but overall amenity depth tracks below national norms.
Schools in the surrounding area are a relative strength, with the neighborhood’s average school rating in the top cohort locally (ranked 7 of 133), an attribute that can aid retention for family-oriented renters. Household incomes rank above the metro median, which can support rent collections and measured pricing power when managed alongside affordability.
Within a 3-mile radius, WDSuite indicates population and households have expanded in recent years, and forecasts point to a continued increase in household count alongside smaller household sizes—favorable for a larger renter pool even if population growth moderates. The neighborhood’s renter-occupied share is roughly one-quarter of housing units, suggesting a smaller but stable tenant base; investors should calibrate marketing and unit mix accordingly. These dynamics, outlined in WDSuite’s multifamily property research, point to steady demand potential with prudent lease management.
Homeownership costs are relatively accessible compared with higher-cost U.S. markets. That context can introduce some competition with ownership options, but it also positions well-managed rentals as a practical alternative, supporting lease-up and retention for quality product.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors commonly benchmark safety by comparing neighborhood trends with city and county sources and by reviewing property-level measures (lighting, access control, and local patrol patterns) to inform underwriting and operational plans.
Regional employment is diversified, with proximity to distribution and telecom sectors that support commuter access and workforce housing demand near Rancho Viejo. The following employers are within driving distance and help anchor the area’s job base.
- Dish Network — telecom services (13.8 miles)
- United Parcel Service — logistics & distribution (42.2 miles)
Built in 1982, this 96-unit asset is modestly older than the neighborhood’s average vintage, creating clear value-add and capital planning angles—modernizations can sharpen competitiveness against newer stock while supporting rent durability. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the past five years and sits in a stable range for the metro, while a 3-mile radius shows expanding household counts and smaller household sizes, which can widen the tenant base and support steady lease absorption.
The setting offers above-metro household incomes and strong local school ratings—both constructive for retention—balanced against thinner immediate amenities and a homeownership landscape that can compete with rentals. Underwriting that prioritizes unit finishes, targeted amenity upgrades, and disciplined affordability management can position the property to capture demand without overreaching on rent-to-income thresholds.
- 1982 vintage supports a practical value-add plan to improve unit quality and operating efficiency.
- Neighborhood occupancy trending up, with household growth in a 3-mile radius bolstering the renter pool.
- Above-metro household incomes and strong school ratings aid collections and lease retention.
- Risks: limited immediate amenities and relatively accessible ownership options may temper pricing power; focus on asset upgrades and leasing strategy.