| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 20th | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5909 Santa Maria Ave, Laredo, TX, 78041, US |
| Region / Metro | Laredo |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 2023-09-25 |
| Transaction Price | $3,192,000 |
| Buyer | SM CELESTILITE PROPERTIES LLC |
| Seller | LAREDO INVESTORS VERSAILLES LTD |
5909 Santa Maria Ave Laredo Multifamily Value-Add
Neighborhood data points to above-median occupancy and a high renter-occupied share, according to WDSuite s CRE market data, indicating a durable tenant base at the submarket level. These metrics reflect neighborhood conditions, not the property, and suggest stable leasing with room to improve operations.
Situated in an Inner Suburb of Laredo with a C+ neighborhood rating, the area exhibits occupancy that is above the metro median (27 of 63 neighborhoods) and a notably high share of renter-occupied housing units (top decile nationally). For investors, this points to a deeper tenant pool and supports leasing stability at the neighborhood level.
Amenity access is mixed: grocery and pharmacy density rank competitive among Laredo neighborhoods, while restaurants are above the metro median. Parks, cafes, and childcare options are thinner locally, which can influence resident preferences toward properties with on-site conveniences or proximate retail.
Within a 3-mile radius, households have increased even as population edged lower, implying smaller household sizes and a more distributed renter pool. Median household incomes have risen over the last five years, while neighborhood rents remain relatively accessible, which can aid retention but may temper immediate pricing power. Elevated home values are not a defining feature here compared with national benchmarks, so ownership alternatives may compete with rentals more directly than in high-cost metros.
The average neighborhood construction year skews older (1966). With a 1972 vintage, the property is newer than much of the surrounding stock and can compete well against aging assets, though investors should still plan for modernization of systems and common areas to meet current renter expectations.
Neighborhood-level safety indicators sit below national averages (crime metrics around the lower national percentiles), and the area ranks in the less favorable half within the Laredo metro (41 of 63 neighborhoods). Recent year-over-year trends show declines in both violent and property offense estimates, which is a constructive directional signal but does not eliminate safety considerations for residents or operations.
Investors typically account for these dynamics through on-site security measures, lighting, access controls, and resident engagement, while monitoring local trends over time. All figures reflect neighborhood conditions rather than the property itself.
Proximity to established employers supports working households and can aid retention through reasonable commute times. The nearby base includes automotive supply operations.
- BorgWarner — automotive supplier (4.2 miles)
This 50-unit, 1972-vintage asset aligns with a neighborhood showing above-median occupancy and a high renter-occupied share, supporting demand depth and day-one leasing stability. Rents in the surrounding area remain relatively accessible versus incomes, which can aid retention; at the same time, the ownership market is comparatively attainable, so underwriting should balance rent growth expectations with competitive positioning. Based on CRE market data from WDSuite, the property s slightly newer-than-average vintage versus nearby stock can be leveraged through targeted renovations to improve curb appeal and operations.
Forward demographic indicators within a 3-mile radius point to a smaller average household size and more households, even as population softens, which can expand the renter pool and sustain occupancy. Operators should weigh amenity-light blocks and safety perceptions against the advantages of a stable workforce base and the property s potential value-add program.
- Above-median neighborhood occupancy and high renter concentration support leasing stability
- 1972 vintage is competitive versus older local stock; targeted upgrades can drive NOI
- Accessible neighborhood rent levels aid retention; calibrate pricing for demand
- 3-mile household growth with smaller sizes broadens the tenant base over time
- Risks: safety perception, thinner nearby amenities, and competition from attainable ownership