| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 20th | Fair |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 Convent Ave, Laredo, TX, 78040, US |
| Region / Metro | Laredo |
| Year of Construction | 1977 |
| Units | 28 |
| Transaction Date | 2011-11-14 |
| Transaction Price | $462,000 |
| Buyer | MADERO 1201 LLC |
| Seller | LARINCO |
1420 Convent Ave, Laredo TX — 28-Unit Apartment Investment
Renter concentration in the surrounding neighborhood supports a steady tenant base while local rents remain comparatively accessible, according to WDSuite’s CRE market data. The location offers everyday convenience and dining density that can aid leasing and retention.
The property sits in an Inner Suburb of Laredo with a practical mix of daily needs and dining options. Grocery access is comparatively strong for the metro (ranked 24 out of 63 neighborhoods) and stands high versus national benchmarks, while restaurant density ranks 3 of 63 locally, placing the area in the top quartile nationally for eating options. Cafes, parks, and pharmacies are limited within the immediate neighborhood, so residents typically rely on grocery and restaurant access for day‑to‑day convenience.
Median school ratings in the neighborhood track close to national mid‑pack performance, suggesting broadly serviceable education access without being a primary draw for premium rent positioning. Neighborhood livability is balanced overall, with amenities anchored by food and grocery availability rather than recreational space.
For multifamily metrics, the neighborhood’s renter-occupied share is elevated (ranked 11 of 63), signaling depth in the tenant pool and potential demand stability. Reported neighborhood occupancy is below national averages, so disciplined leasing and unit readiness can matter more to maintain absorption. Contract rents in the area have risen over the last five years and remain comparatively low versus many national peers, supporting a value-oriented positioning that can aid retention.
Construction patterns skew older in this neighborhood (average vintage near mid‑century). This asset’s 1977 vintage is newer than much of the surrounding housing stock, positioning it as relatively competitive versus older properties while still warranting attention to aging systems and selective modernization. For investors, that often translates into targeted capital planning rather than full-scope repositioning.
Demographic statistics within a 3‑mile radius indicate a modest contraction in population in recent years, but household counts are expected to increase alongside smaller average household sizes. This mix can expand the number of renting households even if population growth is muted, supporting occupancy stability for well‑managed assets.
Safety indicators for the neighborhood sit around the metro median (ranked 30 out of 63), and below the national median based on comparative percentiles. Recent data shows property‑related incidents trending down year over year, which is a constructive sign, while violent‑crime measures have been more mixed. Investors should underwrite with standard risk controls—lighting, access management, and resident screening—while noting the improving direction in property offenses.
- BorgWarner — automotive supplier (7.3 miles)
Nearby employment includes manufacturing and automotive suppliers that draw a regional workforce, supporting renter demand through commute convenience.
This 28‑unit, 1977‑vintage asset offers a pragmatic value‑add profile in a renter‑heavy pocket of Laredo. Renter concentration in both the neighborhood and the 3‑mile trade area underpins a deep tenant base, while rents remain comparatively accessible. According to CRE market data from WDSuite, restaurant density is a local strength and grocery access is competitive for the metro, helping with daily‑needs convenience and leasing appeal. Given older surrounding stock, the property’s later vintage can compete well with targeted upgrades to interiors, curb appeal, and building systems.
Key underwriting considerations include neighborhood occupancy that trails national norms and a homeownership market with relatively accessible entry costs, which can introduce competition for some households. Offsetting factors include projected growth in household counts as average household size declines, which can expand the renter pool and support steady absorption for well‑maintained units.
- Renter-occupied concentration supports demand depth and lease retention
- 1977 vintage is newer than much of the area’s stock, allowing targeted value‑add
- Dining and grocery access provide day‑to‑day convenience that aids leasing
- Household counts projected to rise (3‑mile radius), expanding the renter pool
- Risks: below‑national occupancy and ownership alternatives may compete with renting