| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 20th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3510 N Milmo Ave, Laredo, TX, 78043, US |
| Region / Metro | Laredo |
| Year of Construction | 2002 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3510 N Milmo Ave Laredo Multifamily Investment
Neighborhood indicators point to durable renter demand driven by a high renter-occupied share and everyday conveniences, according to WDSuite’s CRE market data. These metrics describe the surrounding neighborhood rather than the property and suggest steady lease-up potential with prudent pricing discipline.
The property sits in an Inner Suburb location within Laredo where everyday needs are close at hand. Grocery access ranks in the top quartile among 63 metro neighborhoods, and pharmacy density is also competitive, while parks and cafes are limited. This mix supports day-to-day convenience but places less emphasis on recreation and third‑place amenities. Average school ratings trend below national medians, which investors often translate into a value-oriented renter profile rather than a top-of-market positioning.
At the neighborhood level, occupancy is modest relative to national benchmarks, yet renter concentration is high (top tier within the metro), signaling a deep tenant base and broad acceptance of multifamily living. Median contract rents in the area remain accessible, reinforcing demand stability but tempering near-term pricing power. Home values sit below national averages, which can introduce some competition with ownership; however, a strong renter-occupied share continues to underpin multifamily absorption and retention.
Within a 3-mile radius, demographics show a slight population dip over five years alongside an increase in households and smaller average household size. For investors, this pattern typically expands the pool of renting households and can support occupancy stability even if overall population growth is flat. Median incomes in the radius have risen meaningfully, helping sustain rent levels without overextending residents’ budgets—an insight supported by WDSuite’s multifamily property research.
Vintage is an advantage: built in 2002, the asset is newer than much of the neighborhood’s housing stock (average vintage early 1980s). That positioning can reduce near-term capital surprises versus older properties while still leaving room for targeted refreshes to maintain competitiveness and extend useful life of systems.
Safety indicators for the surrounding neighborhood track near the metro middle and below national medians. Recent trend data shows property offenses declining over the last year, which is a constructive direction for operators focused on resident retention and brand perception. These figures reflect neighborhood-level conditions rather than the property specifically and are best considered alongside on-the-ground diligence.
Nearby employment includes manufacturing and automotive supply operations that contribute to a steady commuter base and support renter demand through commute convenience. The list below highlights a notable employer within practical driving distance.
- BorgWarner — automotive supply (6.1 miles)
This 21‑unit property, built in 2002, benefits from a high neighborhood renter concentration and strong everyday retail access, supporting consistent leasing fundamentals. While neighborhood occupancy trends are moderate relative to national norms, accessible rent levels and a growing household base within 3 miles point to a stable tenant pipeline and manageable turnover risk. According to CRE market data from WDSuite, the surrounding area’s ownership costs are relatively approachable, which may limit aggressive rent growth but also broadens the renter pool and supports steady absorption.
The vintage advantage versus older neighborhood stock suggests manageable near-term capex with selective upgrades to protect competitive positioning. Investors should balance the value-oriented profile (including below-median school ratings and limited park/cafe density) against durable renter demand drivers and improving safety trends at the neighborhood level.
- Newer vintage (2002) relative to local stock reduces immediate capital risk while allowing targeted value-add
- High neighborhood renter-occupied share supports tenant depth and lease-up stability
- Everyday convenience: strong grocery/pharmacy access helps retention and day-to-day livability
- Value-oriented rent context supports occupancy but may temper pricing power vs. ownership options
- Risk: below-national safety and school metrics require hands-on management and amenity strategy