| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 69th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1502 Calle Del Norte, Laredo, TX, 78041, US |
| Region / Metro | Laredo |
| Year of Construction | 1987 |
| Units | 50 |
| Transaction Date | 2025-05-05 |
| Transaction Price | $2,125,000 |
| Buyer | TOWN PARK APARTMENTS |
| Seller | ARECHIGA RENTALS LTD |
1502 Calle Del Norte Laredo Multifamily Investment
Neighborhood occupancy has held near the metro midpoint, supporting steady leasing fundamentals, according to WDSuite’s CRE market data. Renter concentration varies by area, so underwriting should lean on neighborhood metrics and the broader 3-mile tenant base to gauge demand depth.
The property sits in an A-rated suburban neighborhood ranked 4th out of 63 in the Laredo metro, placing it firmly above the metro median. Local occupancy conditions are in the low-90s, suggesting stable absorption and lease retention potential at the submarket level, based on CRE market data from WDSuite.
Livability drivers are balanced: restaurants and grocery access are competitive nationally, while pharmacies score well; parks and cafes are limited, which may modestly cap walkable lifestyle appeal. Average school ratings are strong (top tier nationally), a characteristic that can support family-oriented renter demand and longer tenancy.
Tenure patterns differ by lens. At the neighborhood level, the share of renter-occupied housing units is lower, indicating a more ownership-leaning pocket and the need for targeted positioning. Within a 3-mile radius, however, renters constitute a substantial share of occupied units, reinforcing a broader tenant pool for multifamily leasing and renewals.
For pricing and affordability, median contract rents in the neighborhood track around the national mid-range, while household incomes and home values benchmark above national medians. This high-cost ownership market context can sustain renter reliance on multifamily housing and support lease stability, though operators should monitor rent-to-income to manage retention and renewal risk.
Vintage matters: built in 1987 versus a local average construction year around the early 1990s, the asset is modestly older than nearby stock. Investors should plan for targeted capital improvements and potential value-add upgrades to remain competitive against slightly newer comparables.
Safety indicators are mixed when viewed against national benchmarks. Property crime sits below national median safety levels, while violent crime reads closer to the lower-middle range nationally. Recent trend data show year-over-year declines in both categories, with a notably sharper drop in estimated violent incidents, which is a constructive directional signal. Within the Laredo metro (63 neighborhoods), the area compares competitively in some measures but remains below the strongest local performers, so prudent security and lighting enhancements should be considered in underwriting and operations.
- BorgWarner — corporate offices (4.1 miles)
Nearby corporate presence supports commute convenience and renter demand at the submarket level, with representation from automotive-related corporate offices.
Positioned in one of Laredo’s higher-performing suburban neighborhoods, the asset benefits from steady neighborhood occupancy, a sizable 3-mile renter pool, and above-average local incomes that can support rent levels without outsized affordability pressure. Built in 1987, the property is slightly older than nearby stock, creating scope for targeted value-add and CapEx planning to strengthen competitive positioning. According to CRE market data from WDSuite, neighborhood rents track near the national mid-range while ownership costs are elevated locally, a combination that can sustain renter demand and support lease retention.
Forward-looking demographics within a 3-mile radius point to increases in households and incomes, which can expand the tenant base and reinforce occupancy stability. Operators should remain mindful of safety metrics that trail national medians and the limited parks/cafe amenity mix, balancing these with property-level improvements and service quality.
- Above-median neighborhood performance within the Laredo metro supports steady occupancy and leasing.
- Broad 3-mile renter pool and rising incomes underpin demand depth and renewal potential.
- 1987 vintage provides practical value-add and CapEx levers versus slightly newer comps.
- Rent levels near national mid-range with elevated ownership costs can aid retention and pricing power.
- Risks: safety indicators below national medians and limited parks/cafes; mitigate via operations and security.