Triplex with Refrigerated
For Sale
$274,900
11531 ERNEST Road, Socorro, TX 79927
Residential Income, Socorro, TX
Property Size2,244 SF
Lot Size0.17 Acres
Price / SF$122.50
Days on Market326
Property Features for 11531 ERNEST Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R1
Appliances
Washer, Free-Standing Gas Oven, Dryer
Subdivision
Friedman Estates
Elementary school
Campestre
Middle school
Socorrom
High school
Socorro
Elementary school district
Socorro
Middle school district
Socorro
High school district
Socorro
Standard status
Active
APN
F80000100030018
Size
2,244 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
3 FRIEDMAN ESTATES #1 LOT 18 (7500 SQ FT)
Tax Annual Amount
7975
Legal Description
3 FRIEDMAN ESTATES #1 LOT 18 (7500 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Central
Amenities
refrigerated air
Building Details
Year built
1987
Number of units
3
Building materials
Stucco
Roof type
Shingle
Listing Agency:
The Broker Sponsor Corporation
(915) 252-9877
Listed By:
Cristina Moreno · License #0759541
(915) 494-7233
Added: Oct 9, 2025
Changed: Aug 26
Last Checked: Aug 30 at 3:06PM
MLS# 931793
Copyright © 2026 Greater El Paso Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex contains 2,244 square feet on a 0.17-acre lot and was built in 1987. The property has stucco construction, a shingle roof, central heating, refrigerated air, and no carpet. Public sewer serves the property, and the appliance package includes a washer, dryer, and free-standing gas oven.
Zoned R1, the property is located in Socorro near a school and Main Socorro Road, both described as within walking distance. The three-unit configuration provides a defined residential income property format, with the existing mechanical and appliance features supporting day-to-day occupancy.
Zoned R1, the property is located in Socorro near a school and Main Socorro Road, both described as within walking distance. The three-unit configuration provides a defined residential income property format, with the existing mechanical and appliance features supporting day-to-day occupancy.
Key Highlights
- Triplex with 2,244 square feet of property size
- 0.17‑acre lot in Socorro
- Refrigerated air and central heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,609
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,180
$372.2K
Cap Rate 7%
$265,843
$265.8K
Cap Rate 9%
$206,767
$206.8K
Market Conditions
NOI Build-Up for 2,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.3K $12.60/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$26.6K $11.85/SF
− OpEx
−$8.0K −$3.55/SF
NOI
$18.6K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,180
Cap Rate 7%
$265,843
Cap Rate 9%
$206,767
Alternative Uses
Best Use
Multifamily LT 5
$265.8K
$232.6K – $310.2K
NOI $18,609 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$243.8K
$213.4K – $284.5K
NOI $17,069 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$405.5K
$354.8K – $473.1K
NOI $28,387 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with refrigerated air, central heating, and no carpet.
Where is this triplex located?
The property is located at 11531 ERNEST Road Socorro, TX.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Triplex with 2,244 square feet of property size; 0.17‑acre lot in Socorro; Refrigerated air and central heating
