| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 40th | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Hummingbird Ct, Pharr, TX, 78577, US |
| Region / Metro | Pharr |
| Year of Construction | 2013 |
| Units | 23 |
| Transaction Date | 2021-07-29 |
| Transaction Price | $1,546,900 |
| Buyer | HOMES4MONEY INVESTMENTS LLC |
| Seller | VELMEJ INVESTMENTS LLC |
1500 Hummingbird Ct, Pharr TX — 23-Unit 2013 Multifamily
2013-vintage, mid-size asset in a suburban Pharr location with steady renter demand and accessible pricing, according to CRE market data from WDSuite.
The property sits in a suburban Pharr neighborhood rated A-, positioned competitive among McAllen-Edinburg-Mission neighborhoods (rank 54 out of 205). Local living basics are convenient: grocery and pharmacy access track above metro medians, while restaurants are reasonably available. Parks, cafes, and childcare are thinner in the immediate area, which may temper lifestyle appeal but also keeps day-to-day costs manageable.
The submarket skews newer than much of the metro, and a 2013 construction date helps the asset compete against older stock. Investors should still plan for selective modernization over the hold to sustain leasing velocity as systems age.
Tenure patterns indicate a meaningful renter base: at the neighborhood level, roughly one-third of housing units are renter-occupied, supporting depth for multifamily leasing. Zooming out, demographics aggregated within a 3-mile radius show household growth and smaller average household sizes over the next five years, expanding the local renter pool and supporting occupancy stability.
Pricing dynamics are favorable for retention. Neighborhood median contract rents remain accessible, and home values are relatively modest for Texas, which can introduce some competition from entry-level ownership but also supports steady workforce housing demand. School quality trends modestly above national medians, adding stability for family renters.
Safety indicators for the neighborhood trend below national medians and lean weaker than many parts of the metro (crime rank 55 out of 205). Nationally, comparable areas score in the lower percentiles for both property and violent offenses, and the most recent year reflected an uptick. For investors, this argues for routine security measures, active tenant screening, and property lighting/camera upgrades to support resident satisfaction and retention.
Nearby employers provide commute-friendly jobs that support renter demand, notably in logistics, print/marketing services, and telecommunications: United Parcel Service, R R Donnelley & Sons, and Dish Network.
- United Parcel Service — logistics (0.7 miles)
- R R Donnelley & Sons — printing & marketing services (7.1 miles)
- Dish Network — telecommunications (32.7 miles)
This 23-unit, 2013-vintage property offers a durable workforce housing thesis in suburban Pharr. The neighborhood is competitive within the McAllen-Edinburg-Mission metro, with solid access to daily-needs retail and schools trending modestly above national medians. According to CRE market data from WDSuite, neighborhood occupancy trends leave room for operational upside, while accessible rents and a growing 3-mile household base signal depth for future leasing and renewal strategies.
Newer construction versus much of the local stock supports competitive positioning, with selective value-add and modernization likely to enhance rentability. Ownership costs in the area are relatively accessible, which can introduce some competition from entry-level buyers; however, expanding household counts and smaller household sizes within 3 miles point to a larger renter pool that can sustain occupancy over time.
- 2013 construction offers competitive positioning vs. older local stock, with targeted upgrades to maintain rentability.
- Neighborhood ranks competitive within the metro, with strong access to grocery, pharmacy, and everyday services.
- 3-mile demographics point to household growth and smaller household sizes, expanding the renter pool and supporting leasing.
- Accessible rent levels support retention and operational stability for workforce tenants.
- Risk: Safety metrics trend below national medians; budget for security features and active management to support retention.