| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 25th | Fair |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 Palo Blanco St, Laredo, TX, 78046, US |
| Region / Metro | Laredo |
| Year of Construction | 1993 |
| Units | 22 |
| Transaction Date | 2006-01-17 |
| Transaction Price | $154,500 |
| Buyer | ASSAHLI AABDENBI |
| Seller | VARGAS MARGARITA C |
2901 Palo Blanco St, Laredo TX Multifamily Opportunity
Stabilized renter demand is supported by a neighborhood renter-occupied share around one-third and relatively accessible rents, according to WDSuites CRE market data. Location fundamentals and nearby daily-needs retail underpin leasing resilience, though operators should plan for competitive positioning.
Located in Laredos inner suburb, the property sits in a neighborhood rated B and positioned near daily-needs retail. Grocery and restaurant density are competitive among Laredo (63 neighborhoods), while cafes and parks are limited. Average school ratings trend in the top quartile nationally and are above the metro median, which helps broaden the family-renter pool.
Renter concentration in the neighborhood is competitive among Laredo neighborhoods, indicating a tangible base of renter-occupied units that supports ongoing multifamily demand. Neighborhood occupancy trends are below the metro median, so operators may need to emphasize value, management quality, and local relationships to sustain lease-up and retention.
Construction trends skew slightly newer locally, and this propertys 1993 vintage is older than the neighborhood average (1998). That points to potential value-add through exterior/interior updates and systems modernization, balanced against capital planning needs to keep the asset competitive versus newer stock.
Within a 3-mile radius, population has expanded recently with further growth projected, and households are increasing alongside a gradual reduction in average household size. This combination typically widens the tenant base and supports occupancy stability as more households enter the market and seek rental options. Median contract rents in the area remain accessible relative to incomes, which can aid lease retention and reduce turnover risk.
Home values are elevated relative to local incomes (higher value-to-income ratio than many areas nationally), which tends to reinforce reliance on rental housing. For investors, this backdrop can support pricing power at moderate levels while maintaining a broad addressable renter base.
Safety indicators for the neighborhood compare weaker than many areas nationally, with violent and property offense rates closer to the lower national percentiles. At the metro level (63 neighborhoods), the area does not rank among the safer parts of Laredo. However, recent year-over-year trends show improvement, with both violent and property offense rates declining, suggesting some directional progress.
Investors should underwrite with a focus on property-level security measures and tenant experience, and monitor city and neighborhood crime trends over time rather than relying on a single snapshot.
Proximity to regional employers can support workforce housing demand and retention. Nearby industrial and corporate operations provide a steady commuter base relevant to leasing.
- BorgWarner industrial & corporate offices (10.0 miles)
2901 Palo Blanco St is a 22-unit, 1993-vintage asset positioned in a B-rated inner-suburban neighborhood with competitive grocery and restaurant access and school ratings that are above the metro median. The 1993 construction is slightly older than local averages, creating potential for targeted renovations to improve competitiveness versus newer stock while maintaining operational efficiency. According to CRE market data from WDSuite, renter-occupied share in the neighborhood is meaningful and the 3-mile area shows population and household growth, which together point to a wider tenant base and support for occupancy stability.
Operating strategy should account for below-metro occupancy in the immediate neighborhood and a safety profile that trails national benchmarks, balanced by accessible rents, a growing household base within 3 miles, and a home-ownership landscape that reinforces reliance on rental housing. Execution that leverages value-add upgrades and strong management can help capture steady demand without assuming outsized rent growth.
- Established renter base and household growth within 3 miles support leasing depth
- 1993 vintage offers value-add potential through targeted renovations and systems updates
- Competitive daily-needs retail and above-metro school ratings broaden family-renter appeal
- Ownership costs relatively high to incomes reinforce sustained reliance on rental housing
- Risks: neighborhood occupancy below metro median and safety metrics below national benchmarks