| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 15th | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 211 W Audry St, Pharr, TX, 78577, US |
| Region / Metro | Pharr |
| Year of Construction | 2010 |
| Units | 72 |
| Transaction Date | 2021-11-29 |
| Transaction Price | $5,312,500 |
| Buyer | PHDC PARKVIEW TERRACE GP LLC |
| Seller | HOUSING AUTHORITY OF THE CITY OF PHARR |
211 W Audry St, Pharr Multifamily Investment
Newer 2010 construction and a solid renter base support predictable operations in an inner-suburban location, according to WDSuite’s CRE market data. The property’s positioning favors steady tenancy over cycle peaks, with room to compete on finishes and management efficiency.
This inner-suburban pocket of Pharr offers everyday convenience with strong access to essentials. Neighborhood data show high density of grocery stores and pharmacies relative to the metro and the nation (nationally in the 90th percentile or better), while cafes, restaurants, and parks are limited—an operating detail that can concentrate demand on in-unit features and onsite amenities rather than walkable lifestyle offerings. Average school ratings trend below the national midpoint, which may require more value-focused positioning for family renters.
The neighborhood’s renter concentration is high for the metro (46.7% of housing units are renter-occupied), indicating a deep tenant pool and generally reliable leasing velocity. Neighborhood occupancy is in the mid‑80s and has eased over the last five years, signaling the need for active leasing management and competitive pricing. The submarket’s overall neighborhood rating is C+, placing it above some peer areas but not among the region’s top tiers, which aligns with workforce housing demand rather than premium lifestyle positioning.
Within a 3‑mile radius, population has inched up while households have grown faster, and forecasts point to continued household growth through 2028. This pattern expands the renter base and supports occupancy stability for well-maintained product. Median household incomes are rising, and rent levels in the area remain generally manageable relative to incomes, helping reduce affordability pressure and aiding lease retention for properties that maintain service levels.
Vintage matters for competitive positioning: with a 2010 build against a neighborhood average vintage from the early 1990s, this asset should compare favorably to older stock on systems and layout, while still benefiting from targeted refreshes to sustain rent capture. Home values in the immediate area are comparatively low, which can create some competition from entry-level ownership; however, the established renter base and household growth trajectory continue to underpin multifamily demand.
Safety metrics are mixed in context. Compared with other neighborhoods in the McAllen‑Edinburg‑Mission metro, this area is below the metro average on safety (ranked 31 out of 205 neighborhoods), yet its national standing is around the middle of the pack (approximately the 54th percentile nationwide). For investors, this implies routine but manageable security and lighting considerations rather than extraordinary measures.
Recent trend data point to year‑over‑year reductions in both violent and property offense estimates, suggesting incremental improvement. Consistent property management practices—visibility, access control, and community standards—can help sustain resident retention and protect NOI without materially altering the operating model.
Nearby employers anchor a broad service and logistics workforce, supporting commuter convenience and day‑to‑day renter demand. Notable names include United Parcel Service, R R Donnelley & Sons, and Dish Network.
- United Parcel Service — parcel logistics (1.7 miles)
- R R Donnelley & Sons — printing & marketing services (6.5 miles)
- Dish Network — telecommunications (32.2 miles)
The 2010 vintage, 72‑unit asset is newer than much of the surrounding rental stock, providing a competitive edge on building systems and layouts versus 1990s‑era properties. Household growth within a 3‑mile radius and a high neighborhood renter concentration support a stable tenant base, while current rent levels relative to incomes suggest manageable affordability pressure that can aid retention. According to commercial real estate analysis from WDSuite, neighborhood occupancy has softened in recent years, making operational execution—leasing velocity, renewals, and targeted CapEx—the key to outperformance rather than reliance on market lift alone.
Local home values are comparatively low, which can introduce competition from ownership. Even so, steady household and income growth, proximity to employment nodes, and the property’s newer construction favor durable demand. Select interior upgrades and common‑area enhancements can position the asset to capture rent premiums against older comparables while preserving value-oriented appeal.
- Newer 2010 construction vs. older neighborhood stock supports competitive positioning and lower near-term systems risk.
- Expanding household counts within 3 miles point to a larger tenant base and support occupancy stability.
- Renter concentration in the neighborhood underpins leasing demand for workforce-oriented product.
- Value-oriented upgrade path (interiors and amenities) to capture premiums over 1990s‑era comparables.
- Risk: Softer neighborhood occupancy and accessible ownership options require disciplined pricing, marketing, and renewal strategy.