| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 22nd | Fair |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 651 W Stenger St, San Benito, TX, 78586, US |
| Region / Metro | San Benito |
| Year of Construction | 2006 |
| Units | 64 |
| Transaction Date | 2021-01-22 |
| Transaction Price | $3,012,500 |
| Buyer | IQBAL AND SONS CAPITAL GROWTH LLC |
| Seller | SHS MANAGEMENT LP |
651 W Stenger St, San Benito — 64-Unit 2006 Multifamily
Newer 2006 vintage versus local stock points to competitive positioning and operational durability; neighborhood occupancy trends have improved in recent years, according to WDSuite’s CRE market data, though levels remain below the metro median.
Situated in San Benito within the Brownsville–Harlingen metro, the neighborhood is rated B and ranks 51 out of 133 local neighborhoods. That places it around the metro middle, offering steady, suburban fundamentals for workforce housing rather than a momentum play.
Livability inputs are mixed. Grocery access ranks 37 of 133 (competitive among Brownsville–Harlingen neighborhoods) and pharmacies rank 10 of 133 (top quartile locally), while parks and cafes rank last of 133, signaling limited recreational and third‑place amenities nearby. Childcare access is a relative strength, ranking 10 of 133 (top quartile). School ratings sit below national norms (around the lower third nationally), which can influence family renter retention strategies.
The property’s 2006 construction is newer than the neighborhood’s average 1977 vintage. For investors, that typically supports leasing and operating efficiency versus older stock, while still warranting forward capital planning for mid‑life building systems and selective value‑add upgrades.
Tenure patterns indicate a moderate renter concentration (about one‑third of housing units are renter‑occupied at the neighborhood level). This suggests a workable tenant base for multifamily demand, though leasing may need to compete with ownership options. Neighborhood occupancy has trended up over the last five years but remains below the metro median; operators should emphasize retention and steady lease management over price‑led strategies.
Demographic statistics aggregated within a 3‑mile radius show modest recent population growth with a small increase in households and relatively larger families. Forward projections point to essentially flat population but a notable increase in households alongside smaller household sizes. For multifamily, that combination can expand the renter pool and support occupancy stability even without strong population growth.
Ownership costs in the area are comparatively low by national standards. That can create competition from entry‑level ownership, yet it also positions well‑maintained rentals as accessible options that can support lease‑up velocity and retention when paired with prudent rent‑to‑income management.
Comparable, neighborhood‑level crime metrics were not available in this dataset for Brownsville–Harlingen subareas. Investors should benchmark the immediate area against metro and city trends using multiple sources and evaluate on‑site measures (lighting, access control, visibility) alongside property management practices.
As with any suburban location, a prudent review of recent police reports, city dashboards, and insurer loss data can help validate risk assumptions and inform security budgeting without over‑weighting single‑year fluctuations.
Nearby employers provide a diversified service and logistics base that can underpin renter demand through commute convenience, including Dish Network, United Parcel Service, and R R Donnelley & Sons.
- Dish Network — telecommunications (5.2 miles)
- United Parcel Service — parcel logistics (35.7 miles)
- R R Donnelley & Sons — business services (39.3 miles)
651 W Stenger St offers a 64‑unit, 2006‑built asset positioned against an older local housing stock, which can enhance competitiveness on finishes, systems, and curb appeal. Neighborhood occupancy has improved over the last five years but remains below the metro median, suggesting a focus on retention and operational execution over aggressive rent pushing. Demographic data within a 3‑mile radius shows recent household growth and a forecast shift toward more, smaller households — a setup that can broaden the renter base and support steady leasing.
Homeownership remains relatively accessible in this market, so pricing discipline and amenity execution matter. At the same time, moderate rent levels and manageable rent‑to‑income dynamics can aid lease stability. Based on CRE market data from WDSuite, local amenities skew practical — strong access to groceries, pharmacies, and childcare — which supports day‑to‑day livability even if parks and cafes are limited. Overall, this points to a durable, workforce‑oriented thesis with selective value‑add and capital planning as the primary levers.
- 2006 vintage versus a 1970s neighborhood average supports competitive positioning with manageable mid‑life capex planning.
- Household growth and smaller projected household sizes within 3 miles expand the renter pool and support occupancy stability.
- Practical amenity access (groceries, pharmacies, childcare) underpins workforce livability and day‑to‑day retention.
- Risks: neighborhood occupancy below metro median, limited parks/cafes, and competition from entry‑level ownership — prioritize retention, service, and targeted upgrades.