| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 29th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1972 S US Highway 277, Del Rio, TX, 78840, US |
| Region / Metro | Del Rio |
| Year of Construction | 2012 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1972 S US Highway 277 Del Rio Multifamily Investment
Workforce-oriented apartments in a rural Del Rio submarket where neighborhood occupancy trends and renter demand are shaped by modest rents and limited new supply, according to CRE market data from WDSuite.
The property sits in a rural neighborhood of Del Rio with sparse retail and services nearby. Amenity density ranks near the bottom of the metro (17th of 17 neighborhoods), so residents typically rely on the broader Del Rio corridor for groceries, dining, and daily needs. For investors, this usually means car-dependent living and a leasing story focused on value, parking, and commute convenience rather than walkability.
Neighborhood-level rents are comparatively modest, and the area’s rent-to-income positioning ranks strong nationally, indicating manageable tenant affordability that can support retention and steady collections. However, neighborhood occupancy performance sits below the metro median (13th of 17), suggesting leasing may require competitive pricing and attentive management to maintain stability.
Within a 3-mile radius, demographic data show households have grown recently despite a softer population trend, signaling smaller household sizes and a broader base of households engaging with the housing market. The renter-occupied share is under one-third, which points to a thinner renter pool than urban cores but still a meaningful tenant base for well-operated multifamily assets.
Median home values in the neighborhood are moderate for Texas and below many national benchmarks. In practice, that can introduce some competition from entry-level ownership, but it also keeps multifamily relevant for residents prioritizing flexibility and lower upfront costs. For 2012 construction, investors should anticipate mid-life capital planning to keep finishes and systems competitive against newer stock (the neighborhood skews newer on average), creating potential value-add and repositioning angles.
Comparable neighborhood crime data are limited in WDSuite for this location, so safety should be evaluated through standard diligence steps such as reviewing recent police reports, visiting at different times of day, and benchmarking against nearby Del Rio neighborhoods. Framing risk at the neighborhood level, rather than the block, is prudent in rural settings where patterns can vary widely over short distances.
Built in 2012, this 48-unit asset offers a mid-life profile with scope for targeted renovations and system updates to enhance competitiveness against newer deliveries. Based on CRE market data from WDSuite, the surrounding neighborhood exhibits below-metro occupancy, but rents remain manageable for local incomes—an affordability setup that can support retention and steady leasing when paired with disciplined operations.
Within a 3-mile radius, recent growth in household counts alongside smaller average household size suggests a gradually expanding renter pool despite softer population trends. Amenity access is limited in the immediate area, so the thesis leans on workforce demand, car-based convenience, and value positioning rather than walkability. Moderate ownership costs may create some competition with entry-level buying, reinforcing the importance of pricing discipline and resident experience to sustain occupancy.
- 2012 vintage with clear value-add and capital planning pathways to sharpen competitiveness
- Manageable rent-to-income dynamics support retention and collections when operations stay disciplined
- Household growth (3-mile radius) points to a broader tenant base over time
- Rural location with limited nearby amenities favors a value and parking-forward leasing strategy
- Risks: below-metro neighborhood occupancy and some competition from entry-level homeownership