| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 20th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3615 N Milmo Ave, Laredo, TX, 78043, US |
| Region / Metro | Laredo |
| Year of Construction | 1992 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3615 N Milmo Ave Laredo Multifamily Investment Opportunity
Neighborhood renter-occupied share is elevated, supporting a deeper tenant base even as occupancy trends are mixed, according to WDSuite’s CRE market data. Positioning centers on durable workforce demand with measured rent growth potential.
This Inner Suburb location is competitive among Laredo neighborhoods (20 of 63; B+ rating), with strengths that matter to multifamily investors: a high renter-occupied share and everyday retail access that supports leasing and retention. Median contract rents in the neighborhood sit below national averages, helping sustain demand and limit turnover risk, while also signaling measured pricing power.
Amenity access trends are mixed. By metro rank, the area’s overall amenity position is in the top quartile among 63 neighborhoods, driven by strong grocery (99th percentile nationally) and pharmacy presence (87th percentile), plus solid childcare density (85th percentile). Restaurant availability trends above the national midpoint (69th percentile), but parks and cafes are sparse, which may reduce lifestyle appeal for some renters.
For schools, average ratings trail national norms (37th percentile). Investors should underwrite leasing strategies accordingly, emphasizing convenience and value relative to nearby options rather than family-oriented school draws.
Vintage context: the property was built in 1992, newer than the neighborhood’s average 1983 construction year. That positioning can improve competitiveness against older stock, though planning for aging systems and targeted modernization remains prudent for value-add execution.
Tenure dynamics support multifamily demand: the neighborhood’s share of housing units that are renter-occupied ranks near the top of the metro and sits in the 95th percentile nationally, indicating a deep tenant base and supportive leasing environment. Neighborhood occupancy trends are closer to the national lower mid-range, so asset-level operations and management will be important to outperform peers.
Demographics within a 3-mile radius show modest population contraction over the last five years alongside an increase in households and smaller average household sizes. This combination points to a larger pool of households relative to residents and can expand the renter pool, supporting occupancy stability and steady unit absorption. Forward-looking data indicates continued growth in households and smaller household sizes, which typically benefits multifamily leasing.
Home values in the neighborhood are lower relative to the nation, and the value-to-income ratio trends near the national midpoint. In practice, this means ownership is comparatively accessible, which can create competition for some renter segments; however, the elevated renter concentration suggests multifamily housing remains a primary option locally. Rent-to-income levels trend on the lower side, aiding retention and lease management, though investors should set expectations for more incremental rent growth.
Safety indicators in the neighborhood sit around the metro median (crime rank 32 out of 63), and compare below the national percentiles for both property and violent offenses. Recent momentum is constructive: estimated property offenses declined year over year, placing the area above the national midpoint for improvement, while violent offense rates showed a modest improvement trend. For underwriting, this suggests risk management and on-site security practices remain relevant, with attention to continuing neighborhood trendlines rather than block-level assumptions.
Proximity to area employers supports workforce housing demand and commute convenience for renters. Nearby corporate presence includes:
- BorgWarner — automotive components (6.1 miles)
3615 N Milmo Ave brings 59 units with efficient average unit sizes into a renter-heavy neighborhood profile, where everyday retail access underpins demand and retention. Neighborhood occupancy runs below national benchmarks, but the renter-occupied share ranks high in the metro and nationally, pointing to a deep tenant base. According to CRE market data from WDSuite, amenity access skews toward essentials (notably groceries and pharmacies), which supports daily convenience even as parks and cafes are limited. Built in 1992, the asset is newer than the local average vintage, offering relative competitiveness versus older stock while leaving room for targeted system upgrades and value-add improvements.
Within a 3-mile radius, household counts have increased as household sizes trend smaller, which typically supports renter pool expansion and unit absorption. Rents are comparatively modest and rent-to-income ratios trend lower, aiding retention and occupancy stability; however, more accessible ownership in the area can temper rent growth expectations. Underwriting should emphasize operational execution, modest rent growth, and selective capital improvements to capture durable demand.
- High renter-occupied share supports a deep, stable tenant base
- Essentials-oriented amenities (groceries, pharmacies) bolster daily convenience and retention
- 1992 vintage offers competitiveness versus older neighborhood stock with value-add potential
- Household growth and smaller household sizes within 3 miles support occupancy stability
- Risk: below-national safety percentiles and accessible ownership may limit pricing power