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    Harlingen Multifamily Property For Sale Title is generated by Realmo AI

    1706 DECILOS DR, Harlingen, TX 78550

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    Claim this Listing
    For Sale
    $270,000

    MULTI_FAMILY - HARLINGEN, TX

    Property size:
    2,066 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $130/SF
    Added:
    Aug 7, 2025
    Days on Market:
    297
    Last Refresh:
    May 30 at 5:06 am

    Property Features for 1706 DECILOS DR

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Interior features
    Ceiling Fan(s), Smoke Alarm(s)
    Appliances
    Range, Refrigerator
    Standard status
    Active
    Size
    2,066 SF
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2018
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile

    We can help!

    Listing Contact
    Adela Capetillo

    Listing agent Adela Capetillo

    Listing office EXP Realty, LLC 9600 Great Hills Trail Suite 150 W, Austin, TX

    Listing date Aug 7, 2025

    MLS# 29767430 Listing URL

    Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Immediate rental income with long‑term tenants in place.
    • Convenient location near expressway, Walmart, and Harlingen South High School.
    • Two bedroom, two bath apartment.
    • Built in 2018.
    • Central air conditioning and electric heating.
    • Tile flooring.

    Overview

    This multifamily property features two-bedroom, two-bath apartments situated in an established area of Harlingen, Texas. The location provides convenient access to the expressway, Walmart, and Harlingen South High School. The property offers immediate rental income with long-term tenants already in place. There are 11 unassigned parking spots available. The property is situated on a 0.1385-acre lot and encompasses a total area of 2066 square feet. This property is ideal for investors seeking a stable property in a high-demand location.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $26.0k $12.60
    − Vacancy −$1.7k −$0.81
    EGI $24.3k $11.79
    − OpEx −$7.3k −$3.54
    NOI $17.0k $8.25
    2,066 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $243.5K
    $213.1K – $284.1K (±1% cap)
    NOI $17,045 @ 7.0% cap · market cap 6.31%
    Second Best
    Apartment 5plus
    $223.3K
    $195.4K – $260.5K (±1% cap)
    NOI $15,631 @ 7.0% cap · market cap 5.79%
    Theoretical Best
    Healthcare Medical
    $355.7K
    $311.3K – $415.0K (±1% cap)
    NOI $24,901 @ 7.0% cap · market cap 9.22%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Harlingen
    County
    Cameron
    State
    Texas
    Longitude
    -97.7138397
    Latitude
    26.1750744

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    FAQs

    What type of property is this?
    Duplex - Two-bedroom apartments in established Harlingen area near expressway.
    Where is this duplex located?
    The property is located at 1706 DECILOS DR Harlingen, TX.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: Immediate rental income with long‑term tenants in place.; Convenient location near expressway, Walmart, and Harlingen South High School.; Two bedroom, two bath apartment.
    (956) 622-1307
    We can help!
    Listing Contact
    Adela Capetillo
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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