| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 11th | Poor |
| Amenities | 19th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 111 Pipes Dr, Dilley, TX, 78017, US |
| Region / Metro | Dilley |
| Year of Construction | 1994 |
| Units | 40 |
| Transaction Date | 2006-06-27 |
| Transaction Price | $581,250 |
| Buyer | OFA LTD |
| Seller | GNEKOW SEAN |
111 Pipes Dr, Dilley TX Multifamily Value-Add Outlook
Neighborhood renter concentration is high and occupancy is moderate, according to WDSuite’s CRE market data, pointing to durable tenant depth with some leasing variability at the submarket level. Positioning will hinge on value-add execution and price-to-income alignment rather than amenity competition.
The property sits in a suburban pocket of the Pearsall, TX metro with limited retail and service density. Neighborhood amenities score below national medians, with grocery and park access present but modest, which suggests residents prioritize housing value and proximity to daily needs over lifestyle-driven features. Average school ratings in the neighborhood are low, which may temper appeal for family households and places more weight on rent positioning and property management.
For rental dynamics, the neighborhood shows a strong renter-occupied share at 54.3% — top quartile nationally — and it leads the metro (1 of 7 neighborhoods), indicating a deep local renter base that can support leasing. Neighborhood occupancy of 87.7% ranks 2 of 7 in the metro (above the metro median) but sits below national medians, implying that consistent operations and targeted marketing are important to sustain occupancy stability.
Vintage matters here: with a 1994 construction year against a neighborhood average skewing newer (2005; competitive among Pearsall’s 7 neighborhoods), investors should underwrite routine capital planning and potential interior upgrades to keep pace with newer stock. This creates a straightforward value-add path focused on functional modernization and rent-to-income alignment rather than amenity arms races. Median contract rents in the neighborhood sit at the lower end of regional ranges, and the rent-to-income ratio near the national midpoint supports the case for careful, incremental rent growth tied to tangible improvements.
Within a 3-mile radius, WDSuite’s demographics indicate recent softness in population and household counts but projections point to population growth and more households by 2028, which, if realized, would expand the tenant base and support occupancy. Home values are comparatively low for the region, suggesting a more accessible ownership market; that can introduce competition with entry-level ownership, so retention will hinge on a clean, well-managed product, dependable maintenance, and competitive total housing cost. These conditions favor workforce housing strategies that emphasize reliability and value.
Comparable safety data for this neighborhood are limited in the current release. Without a metro rank or national percentile, investors should benchmark property-level incident trends against city and county sources and evaluate multi-year patterns rather than single-year snapshots. In practice, underwriting should use local law enforcement datasets and insurer feedback to triangulate conditions relative to nearby Pearsall-area neighborhoods.
111 Pipes Dr is a 40-unit, 1994-vintage multifamily asset positioned in a renter-heavy neighborhood that leads the Pearsall metro by renter concentration. According to CRE market data from WDSuite, neighborhood occupancy is above the metro median but below national medians, underscoring the importance of dependable operations and value-focused upgrades. The asset’s older vintage versus nearby stock points to a tangible value-add thesis: targeted renovations and systems upkeep to stay competitive while maintaining a rent-to-income position that supports absorption and retention.
Local amenity density is modest and school ratings are low, so demand will be driven more by housing value and commute practicality than by lifestyle features. With comparatively low home values in the area, some households may weigh ownership; sustained performance will depend on offering a clean, reliable product, responsive management, and competitive effective rents to keep the tenant base engaged.
- Renter-heavy neighborhood (top of the metro) supports depth of tenant demand
- 1994 vintage creates clear value-add path via interior refresh and systems planning
- Occupancy above metro median; focus on operations to offset below-national positioning
- Value-oriented strategy aligns with modest amenity fabric and rent-to-income balance
- Risks: lower school ratings, limited amenities, and potential competition from accessible ownership options