| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 35th | Good |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 W Cherokee Ave, Pharr, TX, 78577, US |
| Region / Metro | Pharr |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
901 W Cherokee Ave Pharr Multifamily Investment
Neighborhood-level data points to a high renter concentration and strong daily-needs access that support a stable tenant base, according to WDSuite’s CRE market data.
This Inner Suburb pocket of Pharr ranks 14th of 205 neighborhoods in the McAllen–Edinburg–Mission metro, placing it in the top quartile locally with an overall A neighborhood rating. Dining and daily-needs access stand out: restaurants and pharmacies score in the 90th+ national percentiles, and groceries and parks are also well above national norms. For families, neighborhood schools average roughly 4 out of 5, ranking 7th among 205 metro neighborhoods and landing in the top quartile nationally — factors that can aid retention for multifamily assets serving a broad renter base.
Renter-occupied housing accounts for a majority of units at the neighborhood level (55.7%; 92nd national percentile), signaling depth in the tenant pool for apartments. Neighborhood occupancy has been broadly steady in recent years with a slight uptick, though at a level that sits below the national midpoint — an important consideration for underwriting lease-up assumptions and renewal strategies.
Within a 3-mile radius, demographic statistics indicate essentially flat population over the last five years alongside a rising household count and smaller average household sizes. Looking ahead to the 2028 time frame, forecasts show population growth and a notable increase in households, which would expand the renter pool and support occupancy stability for well-positioned properties. Median contract rents in the 3-mile area are projected to grow from today’s levels, while the neighborhood’s rent-to-income ratio sits near the national middle, suggesting manageable affordability pressure and room for measured rent growth management.
The neighborhood’s housing stock skews a bit newer than many peers in the metro, and the subject property’s 1998 vintage is newer than the neighborhood average year built. For investors, that relative vintage can help competitive positioning versus older product, while still planning for selective system updates or light renovations to meet current renter expectations.
Safety metrics should be weighed thoughtfully. Compared with neighborhoods nationwide, this area sits below average on safety (crime and violent offense percentiles are on the lower side), and within the McAllen–Edinburg–Mission metro it ranks closer to the higher-crime cohort (ranked 50th among 205 neighborhoods). That said, recent year-over-year trends show improvement — violent incidents have decreased meaningfully and property offenses have edged down — which investors can factor into hold-period assumptions and tenant retention planning.
- United Parcel Service — logistics & distribution (1.9 miles)
- R R Donnelley & Sons — printing & business services (5.6 miles)
- Dish Network — telecom & customer operations (32.8 miles)
901 W Cherokee Ave is a 1998-vintage, 20-unit multifamily asset positioned in a Pharr neighborhood that ranks among the metro’s top quartile for overall quality. A high share of renter-occupied housing at the neighborhood level points to a deep tenant base, while strong access to dining, groceries, and pharmacies supports daily convenience — a combination that can aid leasing consistency. According to commercial real estate analysis from WDSuite, neighborhood occupancy has trended steady with a modest multi-year gain, suggesting stable performance for competitively positioned assets.
Within a 3-mile radius, forecasts indicate population growth and a substantial increase in total households through 2028, implying a larger renter pool over the hold period. The property’s late-1990s vintage offers relative competitiveness versus older stock nearby, while prudent capital planning for systems refresh and light renovations can unlock value and help capture projected rent growth. Key risks include safety metrics that lag national averages and income levels that are below many U.S. neighborhoods, warranting disciplined underwriting and focused resident retention strategies.
- Top-quartile neighborhood placement in the metro with strong daily-needs access supporting leasing stability
- High neighborhood renter concentration indicates depth in the tenant base
- 1998 vintage offers competitive positioning versus older local stock with targeted value-add potential
- 3-mile forecasts show population and household growth, expanding the renter pool over the hold period
- Risk: safety metrics below national averages and modest neighborhood occupancy require disciplined operations