| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 38th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 E Ebony Ave, McAllen, TX, 78501, US |
| Region / Metro | McAllen |
| Year of Construction | 1973 |
| Units | 50 |
| Transaction Date | 2019-08-13 |
| Transaction Price | $7,562,500 |
| Buyer | AGAPE LAS PALMAS INC |
| Seller | RCR PALMAS LLC |
601 E Ebony Ave McAllen Value-Add Multifamily
Stabilized renter demand in the surrounding area and an older 1973 vintage position this 50-unit asset for targeted renovations and operational upside, according to WDSuite’s CRE market data.
Rated B+ and ranked 69 of 205 within the McAllen-Edinburg-Mission metro, the neighborhood is competitive among metro peers while offering daily-life convenience. Grocery access and parks are clear standouts, with neighborhood metrics placing near the top of the metro and strong national percentiles; this supports resident retention and day-to-day livability for workforce tenants.
Amenity access trends lean positive: grocery stores and parks both rank 9 out of 205 metro neighborhoods, landing in the 96th and 92nd national percentiles respectively. Restaurant density also outperforms much of the country (81st percentile; rank 40 of 205), though cafés and pharmacies are sparse locally. For investors, this mix supports leasing fundamentals without relying on destination retail.
Neighborhood occupancy is below the metro median (rank 179 of 205; 19th percentile nationally), which warrants conservative underwriting and attention to leasing execution. Offsetting this, the share of renter-occupied housing in the neighborhood ranks 75 of 205 and sits in the 68th percentile nationally, indicating a deeper renter pool relative to many U.S. areas.
Within a 3-mile radius, demographics point to a growing tenant base: population and households have increased in recent years, with households expanding faster than population, implying smaller average household sizes and a broader pool of potential renters. Forward-looking estimates indicate additional household growth, which can support occupancy stability and leasing velocity.
Home values in the immediate neighborhood are low versus national norms (8th percentile), which means ownership is more accessible compared to high-cost markets. For multifamily operators, this can create some competition from entry-level ownership; however, neighborhood rent-to-income levels around 0.19 suggest manageable affordability pressure, supporting retention and steady renewal trends when paired with prudent rent setting.
Vintage is older than the neighborhood average (1973 property vs. 1988 average construction year rank 169 of 205; 66th percentile nationally). That age profile points to clear value-add and capital planning opportunities—modernizing interiors, systems, and curb appeal can improve competitive positioning against newer stock while maintaining cost discipline.
Comparable neighborhood safety metrics are not available in WDSuite for this location at the time of publication. Investors typically benchmark neighborhood trends to city and metro patterns over multiple years and evaluate property-level measures (lighting, access control, and visibility) as part of diligence. Any on-the-ground assessment should focus on corridor conditions and visibility rather than block-by-block assumptions.
Nearby employers provide a stable employment base supporting renter demand and commute convenience, led by parcel logistics, printing/marketing services, and telecommunications operations.
- United Parcel Service — parcel logistics (1.1 miles)
- R R Donnelley & Sons — printing & marketing services (5.4 miles)
- Dish Network — telecommunications (33.9 miles)
This 50-unit, 1973-vintage property sits in a neighborhood that is competitive within the McAllen-Edinburg-Mission metro and benefits from strong day-to-day amenities. Neighborhood occupancy trends are softer than the metro median, but the area’s higher renter concentration and expanding household base within 3 miles support a stable tenant pipeline and potential for steady leasing.
The older vintage creates clear value-add angles—unit modernization and common-area upgrades—to improve positioning against newer stock while maintaining achievable rents. According to CRE market data from WDSuite, the local amenity profile (notably grocery and parks) and manageable rent-to-income dynamics reinforce resident retention potential, provided operators calibrate pricing and leasing strategies to neighborhood demand.
- Established renter base and 3-mile household growth support leasing and renewal stability.
- 1973 vintage offers value-add upside through targeted interior and system upgrades.
- Strong access to groceries, parks, and everyday services enhances retention and livability.
- Manageable rent-to-income dynamics suggest room for disciplined rent optimization.
- Risk: Neighborhood occupancy trails metro norms—underwrite lease-up and concessions conservatively.