| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 20th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1610 E Plum St, Laredo, TX, 78043, US |
| Region / Metro | Laredo |
| Year of Construction | 2008 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | $2,759,750 |
| Buyer | CASSIUS PROPERTIES LLC |
| Seller | LANDA INVESTMENTS LLC |
1610 E Plum St, Laredo TX Multifamily Investment
Positioned in an inner-suburb pocket of Laredo with a strong renter base, the asset benefits from neighborhood-level occupancy stability and everyday convenience, according to WDSuite’s CRE market data.
This inner-suburb neighborhood carries a B+ rating and ranks 20 of 63 metro neighborhoods—competitive among Laredo neighborhoods and above the metro median. Neighborhood occupancy is 87.1% with a slight five-year uptick, signaling steady baseline demand at the sub-neighborhood scale rather than property-specific performance.
Renter-occupied housing accounts for 63.8% of units in the neighborhood (ranked 3 of 63; high nationally), indicating a deep tenant pool that supports leasing velocity and retention for multifamily assets. Median contract rents sit in the mid-$700s and have risen over the last five years, while the neighborhood’s rent-to-income ratio of 0.20 suggests manageable affordability pressure—useful for lease management and renewal strategies.
Daily-needs access is a relative strength: grocery availability ranks 6 of 63 and in the top percentiles nationally, and pharmacy density is also strong. By contrast, cafes and parks are limited locally, so investors should expect resident convenience to skew toward essentials over lifestyle amenities. Average school ratings around 2.0/5 indicate more modest school performance compared with broader markets, an element to consider when targeting household segments.
Within a 3-mile radius, population has edged down in recent years while household counts have inched higher and are projected to continue increasing through the mid-2020s. This combination—smaller average household sizes and more households—can expand the renter pool even as overall population trends soften. Median incomes have trended upward, and neighborhood home values are relatively accessible for the region, which can introduce ownership competition; however, low absolute rent levels and essential-amenity proximity can help sustain demand. These dynamics provide useful context for commercial real estate analysis without overstating growth drivers.
Vintage and competitive positioning: Built in 2008 versus a neighborhood average vintage of 1983, the property’s newer construction should compare favorably to older local stock. Investors can underwrite relative competitiveness while budgeting for mid-life system updates or selective modernization to sharpen positioning.
Safety indicators for the neighborhood sit below national averages (around the lower national percentiles), and the area is roughly mid-pack within the Laredo metro (ranked near the middle of 63 neighborhoods). Recent trends are mixed-to-improving: estimated property offenses declined meaningfully over the past year, and violent offense estimates ticked down slightly. Investors should weigh these directional improvements against the broader comparative baseline and underwrite accordingly.
Safety can vary by micro-location and time of day. Framing risk in comparative terms—relative to metro peers and national percentiles—helps calibrate expectations for tenant retention and operational practices without relying on block-level claims.
Proximity to regional employers supports a workforce renter base and commute convenience. The list below highlights notable nearby employment that can contribute to leasing stability for this submarket.
- BorgWarner — automotive components (6.3 miles)
The 39-unit asset at 1610 E Plum St offers durable renter demand fundamentals in an inner-suburb location with essential-amenity access and a high neighborhood renter concentration. Built in 2008—newer than the area’s average vintage—the property should compete well against older stock while benefiting from stable neighborhood occupancy levels. According to CRE market data from WDSuite, local rents remain comparatively low in absolute terms, supporting a broad workforce tenant base and helping underpin retention.
Forward-looking context is constructive but requires balance: households within a 3-mile radius are increasing even as population growth is flat to slightly negative, implying more, smaller households and a potentially larger tenant base. At the same time, relatively accessible ownership costs in the neighborhood may moderate pricing power, and amenity gaps (limited parks/cafes) suggest positioning around value, convenience, and essential services. Investors should plan for mid-life system updates consistent with a 2008 vintage and consider targeted upgrades to optimize rents without overextending affordability.
- Newer 2008 vintage versus older neighborhood stock supports competitive positioning with manageable capital planning.
- High neighborhood renter concentration and steady neighborhood occupancy underpin leasing stability.
- Essential-amenity proximity (strong groceries/pharmacies) aligns with workforce demand and day-to-day convenience.
- Demand outlook supported by more households within 3 miles despite flat population, expanding the tenant base.
- Risks: below-average safety metrics (with recent improvement), modest school ratings, and ownership alternatives that may cap near-term pricing power.