| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 22nd | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 N Bedell Ave, Del Rio, TX, 78840, US |
| Region / Metro | Del Rio |
| Year of Construction | 1974 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
405 N Bedell Ave, Del Rio TX — Multifamily Value-Add Potential
Neighborhood occupancy is holding in the low‑90% range with roughly half of units renter‑occupied, pointing to a stable tenant base, according to WDSuite’s CRE market data. Affordability and amenity access support leasing durability, though pricing power is likely moderate in this submarket.
The property sits in an Inner Suburb location within Del Rio that ranks 3 out of 17 metro neighborhoods, making it competitive among Del Rio neighborhoods and within the top quartile locally for overall performance. Amenity access is a relative strength: neighborhood measures for groceries, pharmacies, parks, cafes, and restaurants place the area roughly in the top quartile nationally, which can aid day‑to‑day livability and reduce tenant friction.
Neighborhood occupancy is about 91.9%, and the share of housing units that are renter‑occupied is approximately 49%, signaling meaningful depth for multifamily demand. Median contract rents in the neighborhood are lower than many U.S. areas, which supports retention but may limit near‑term rent growth upside versus higher‑cost metros.
Within a 3‑mile radius, households have increased while population edged down, indicating smaller average household sizes and a gradual broadening of the renter pool. Forward‑looking projections show additional household growth by 2028 with rent levels expected to trend higher, which can support occupancy stability even if in‑migration remains modest. Based on commercial real estate analysis from WDSuite, this demand profile suggests reliable leasing for well‑positioned, functional units.
Home values in the neighborhood are comparatively low in a national context. In investment terms, the more accessible ownership landscape can introduce some competition with entry‑level ownership; however, it also supports workforce‑oriented rentals where convenience, flexibility, and upfront cost considerations keep multifamily housing relevant. School ratings trail national norms, which may temper demand from larger households, but proximity to daily‑needs retail and services helps offset some family‑oriented considerations.
Vintage and asset positioning: Built in 1974, the asset is older than the neighborhood’s average construction year (1982). Investors should underwrite ongoing capital planning and consider value‑add opportunities—modernizing unit interiors, systems, and common areas—to enhance competitiveness against newer stock while leveraging amenity access and workforce‑driven demand.
Comparable neighborhood crime metrics are not available from WDSuite for this location. Without ranked or percentile data, investors should rely on broader city and county trend reviews, property‑level history, and insurer/lender diligence to contextualize safety relative to the region.
Employer proximity details with reliable distances are not available from WDSuite for this address. Investors typically assess commuting access to healthcare, education, government, logistics, and retail nodes in Del Rio to gauge workforce housing demand and retention.
This 56‑unit 1974 community in Del Rio aligns with a workforce‑housing profile: neighborhood occupancy sits near the low‑90% range and roughly half of units in the area are renter‑occupied, supporting depth of demand. Amenity access is a relative advantage versus national benchmarks, helping retention even as rents remain comparatively accessible. Older vintage implies capex and modernization needs, but it also creates a clear path for targeted value‑add to sharpen positioning against newer product.
Within a 3‑mile radius, households have grown despite a modest population decline, indicating smaller households and a broader renter base that can support leasing stability. According to CRE market data from WDSuite, neighborhood rent levels are lower than many U.S. markets and are projected to rise, suggesting measured pricing power for renovated, well‑managed units. Investors should balance this with the area’s lower school ratings and comparatively accessible ownership costs, which can shape unit mix strategy and marketing toward convenience‑ and employment‑driven renters.
- Occupancy around the low‑90% range and ~50% renter concentration support demand depth
- Strong daily‑needs amenity access (groceries, pharmacies, restaurants) aids retention
- 1974 vintage offers clear value‑add and capex planning opportunities to enhance competitiveness
- Household growth within 3 miles points to a broader renter base and leasing stability
- Risks: lower school ratings, moderate income levels, and potential competition from accessible ownership options