| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 40th | Fair |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1970 S US Highway 277, Del Rio, TX, 78840, US |
| Region / Metro | Del Rio |
| Year of Construction | 2002 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1970 S US Hwy 277 Del Rio Multifamily Investment
Neighborhood occupancy is above the metro median and renter-occupied housing is meaningful, supporting leasing stability, according to WDSuite’s CRE market data.
This Inner Suburb location in Del Rio posts a neighborhood occupancy rate of 94.8%, which ranks above the metro median (5 of 17 neighborhoods), a constructive signal for near-term leasing and renewal strength based on CRE market data from WDSuite. Renter-occupied housing accounts for an estimated 42.8% of units at the neighborhood level (3 of 17; high nationally), indicating a sizable tenant base for multifamily operators.
Livability drivers are service-oriented rather than lifestyle-centric. Grocery access is comparatively strong within the metro (ranked 3 of 17; high national percentile), while cafes, parks, and pharmacies are limited locally, suggesting residents rely on broader Del Rio for discretionary amenities. Average school ratings are around 3.0 and are competitive within the metro (2 of 17; top quartile nationally), which can aid family renter retention.
Housing costs and incomes point to manageable renter affordability. Median contract rents in the neighborhood have grown over the past five years yet remain accessible relative to local incomes; the rent-to-income ratio sits near 0.17. Median home values are on the lower end nationally, which can introduce some competition from ownership, so pricing decisions should emphasize retention and value.
Within a 3-mile radius, population has been roughly stable in recent years while household counts have increased, expanding the addressable renter pool even as average household size declines. Looking forward, forecasts indicate more households and smaller household sizes by 2028, which typically supports demand for multifamily units and occupancy stability, though shifts toward higher owner-occupancy would warrant monitoring.
Neighborhood-level crime metrics are not available in WDSuite for this area, so investors typically benchmark conditions against metro and state sources and incorporate on-the-ground diligence. When safety data is limited, prudent underwriting pairs third-party data with property tours and discussions with local stakeholders to assess trends over time rather than relying on single-point estimates.
Built in 2002, the property is newer than the average neighborhood vintage (1995), positioning it competitively versus older stock while leaving room for targeted updates to common areas and systems as part of a value strategy. At the neighborhood level, occupancy runs above the metro median and renter concentration is meaningful, reinforcing demand depth and potential renewal stability. According to CRE market data from WDSuite, local rents remain relatively aligned with incomes, supporting retention even as operators pursue measured rent growth.
Macro context is steady-to-improving: within a 3-mile radius, households have grown and are projected to continue rising as average household size moderates, typically expanding the tenant base for multifamily. Balanced against this, comparatively low home values in the area can create competition from ownership, and amenity density is modest, so underwriting should emphasize operational execution and value-driven positioning.
- 2002 vintage offers competitive positioning versus older neighborhood stock with selective modernization upside
- Neighborhood occupancy above metro median supports leasing stability and renewal performance
- Household growth within 3 miles and smaller household sizes expand the renter pool and support demand
- Rents aligned with incomes provide retention support while allowing disciplined pricing strategy
- Risks: modest amenity density and relatively low home values may elevate competition with ownership; maintain conservative lease-up and capex plans