| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 25th | Fair |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 515 E Pike Blvd, Weslaco, TX, 78596, US |
| Region / Metro | Weslaco |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2007-11-06 |
| Transaction Price | $2,075,000 |
| Buyer | LAYTON JANICE L |
| Seller | OSINSKI DENISE C |
515 E Pike Blvd Weslaco Multifamily Investment Opportunity
Steady neighborhood occupancy and a meaningful renter-occupied share point to a dependable tenant base near core retail corridors, according to WDSuite’s CRE market data. These are neighborhood-level indicators, not property performance, but they suggest durable leasing fundamentals for well-managed assets.
With a B+ neighborhood rating and a rank of 63 out of 205 within the McAllen-Edinburg-Mission metro, this area is competitive among McAllen-Edinburg-Mission, TX neighborhoods. Amenity access is a relative strength locally (amenity rank 38 of 205), supported by above-average grocery and pharmacy density (87th and 82nd national percentiles), and restaurants and cafes also track above national medians (74th and 85th percentiles). Average school ratings are below national norms (37th percentile), which investors should factor into leasing narratives and marketing mix.
Construction trends point to a relatively young housing stock in the neighborhood (average year 1998). The subject property, built in 2007, is newer than the neighborhood average, which generally supports competitive positioning versus older assets while still warranting selective modernization and systems upkeep for durable performance.
Tenure dynamics indicate a renter-occupied share near one-third at the neighborhood level, reinforcing depth in the multifamily tenant base without overreliance on any single cohort. Neighborhood occupancy is reported at 88.1% with modest five-year improvement, suggesting stable, though not tight, leasing conditions where asset-specific management and positioning can drive outperformance.
Within a 3-mile radius, population and households have grown over the past five years and are projected to expand further by 2028, indicating a larger tenant base and ongoing demand for rental units. Median contract rents in the 3-mile area remain accessible relative to incomes and are forecast to increase by the end of the period, supporting revenue management while keeping retention in focus. Elevated homeownership accessibility locally (lower median home values versus many U.S. markets) can introduce competition from entry-level ownership, but it also sharpens the value proposition for quality rentals offering convenience and professional management.
Neighborhood-level crime metrics were not available in WDSuite’s dataset for this location. Investors typically contextualize safety using city and county resources alongside property-level controls (lighting, access management) and trends over time to understand comparative positioning within the McAllen-Edinburg-Mission metro.
Nearby employers provide a diversified service and logistics employment base that supports workforce housing demand and commute convenience, including United Parcel Service, R R Donnelley & Sons, and Dish Network.
- United Parcel Service — logistics & distribution (13.9 miles)
- R R Donnelley & Sons — printing & business services (17.7 miles)
- Dish Network — telecommunications services (19.9 miles)
Built in 2007 with 24 units, 515 E Pike Blvd benefits from neighborhood fundamentals that are competitive within the McAllen-Edinburg-Mission metro and supported by a growing 3-mile renter pool. Neighborhood occupancy trends are steady rather than tight, and the local renter-occupied share suggests healthy depth for leasing. According to CRE market data from WDSuite, amenity access outperforms national medians in several categories, offering convenience that can aid retention and leasing velocity.
The asset’s newer vintage relative to the neighborhood average (1998) provides a positioning edge versus older stock, while selective value-add and systems updates can capture rent premiums as 3-mile median rents trend upward. Ownership remains comparatively accessible in this market, so pricing and product differentiation are important to sustain occupancy and manage renewal risk.
- Newer 2007 vintage vs. neighborhood average supports competitive positioning with moderate capital planning needs
- Competitive amenity access and service-oriented employment base bolster leasing and retention
- 3-mile population and household growth expand the tenant base and support revenue management
- Neighborhood occupancy is stable; asset-level execution can drive outperformance in a not-tight market
- Risk: Accessible ownership options create competition; sustained absorption depends on pricing and product differentiation