Quadplex with Four 1-Bed Efficiency
For Sale
$325,000
1721 N 11TH ST., McAllen, TX 78501
MULTI_FAMILY - MCALLEN, TX
Property Size2,768 SF
Lot Size0.21 Acres
Price / SF$117.41
Days on Market116
Property Features for 1721 N 11TH ST.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Exterior features
Deck/Balcony/Porch
Appliances
Range
Lot features
Corner Lot
Elementary school
WILSON
Middle school
TRAVIS
High school
MCALLEN
Elementary school district
MCALLEN I.S.D.
Middle school district
MCALLEN I.S.D.
High school district
MCALLEN I.S.D.
Subdivision
McAllen
Standard status
Active
Size
2,768 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1975
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
MYSSIE CARDENAS-BARAJAS · License #515302
(956) 802-0217
Added: Apr 18
Changed: Jul 30
Last Checked: Aug 11 at 11:06PM
MLS# 29775726
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.
Investment Insights
Based on property information with market context.
This quadplex was converted to four 1-bedroom, 1-bath efficiency apartments. The building is encased in brick veneer, and it includes existing interior elements such as ceiling fans and vinyl flooring. Appliances include a range. Exterior features include a porch, and cooling is provided through window or wall/window unit systems rather than central air. Units have separate meters, and there is no central air.
Three units are currently occupied, and one unit is available to tour. Public utilities include public water and public sewer.
The property sits on a 0.208-acre lot and includes 2,768 square feet of building area. It was built in 1975, and parking is listed as none.
Three units are currently occupied, and one unit is available to tour. Public utilities include public water and public sewer.
The property sits on a 0.208-acre lot and includes 2,768 square feet of building area. It was built in 1975, and parking is listed as none.
Key Highlights
- Four 1‑bedroom, 1‑bath efficiency apartments
- 3 units occupied and 1 unit available to tour
- No central air; window/wall unit cooling with separate meters
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
$25,012
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
7.70%
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%
$500,240
$500.2K
Cap Rate 7%
$357,314
$357.3K
Cap Rate 9%
$277,911
$277.9K
Market Conditions
NOI Build-Up for 2,768 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
$38.2K $13.80/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$35.7K $12.91/SF
− OpEx
−$10.7K −$3.87/SF
NOI
$25.0K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$500,240
Cap Rate 7%
$357,314
Cap Rate 9%
$277,911
Alternative Uses
Best Use
Multifamily LT 5
$357.3K
$312.7K – $416.9K
NOI $25,012 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$328.4K
$287.3K – $383.1K
NOI $22,986 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$751.6K
$657.7K – $876.9K
NOI $52,614 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex converted to four efficiency apartments with three currently occupied and one available to tour, without central air.
Where is this quadplex located?
The property is located at 1721 N 11TH ST. McAllen, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath efficiency apartments; 3 units occupied and 1 unit available to tour; No central air; window/wall unit cooling with separate meters
