McAllen Duplex with Income
2233 Ivy Avenue, McAllen, TX 78501
MULTI_FAMILY - McAllen, TX
Property size:
1,833 SFLot size:
0.17 AcresPrice / SF:
$130/SF- Added:
- Apr 28, 2026
- Days on Market:
- 36
- Last Refresh:
- Jun 2 at 12:06 am
Property Features for 2233 Ivy Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Garage
- Patio and Porch features
- Patio
- Exterior features
- Mature Trees
- Fencing
- Chain Link, Privacy
- Appliances
- Electric Water Heater, Water Heater (In Garage), Smooth Electric Cooktop, Refrigerator
- Standard status
- Active
- APN
- M380000003001900
- Size
- 1,833 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4605
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1983
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick
- Roof type
- Composition
Listing agent Olga L Arriaga (956) 827-5025
Listing office Dolce Vita Realty 912 Sycamore Ave., McAllen, TX (956) 322-8478
Listing date Apr 28, 2026
MLS# 501590
Listing URL
Copyright © 2026 Greater McAllen 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.
HighLights
- Cash‑flowing duplex with reliable long‑term tenants in a prime central McAllen location.
- Zoned multi‑family with separate electric and water meters for each unit.
- Downstairs unit: 2 bedrooms, 2 baths, plus bonus room/office and 1‑car carport.
- Upstairs unit features 1 bedroom, 1 bath, stainless steel appliances, and in‑unit stackable washer/dryer.
- Oversized garage with side alley access, offering potential for conversion into a studio apartment.
- Includes kitchen appliances and washer/dryer connections in the downstairs unit.
Overview
This cash-flowing duplex is located in a prime central McAllen location, just off 23rd and Ivy, behind Starlight Burger. The property is zoned multi-family and features two electric meters and two water meters. The downstairs unit includes 2 bedrooms, 2 baths, plus a bonus room or office (without a window), a spacious laundry room, tile flooring, and a 1-car carport with driveway. It also has washer and dryer connections plus kitchen appliances. The upstairs unit offers 1 bedroom, 1 bath, laminate flooring, stainless steel appliances, and an in-unit stackable washer and dryer. Both units are income-producing with reliable long-term tenants and are easy to lease. An oversized garage with side alley access provides additional versatility and is large enough to convert into a potential studio apartment. Currently, the garage is being used as maintenance storage. The property has a lot size of 0.1696 acres and a property size of 1833 square feet.
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 | $25.3k | $13.80 |
| − Vacancy | −$1.6k | −$0.89 |
| EGI | $23.7k | $12.91 |
| − OpEx | −$7.1k | −$3.87 |
| NOI | $16.6k | $9.04 |
1,833 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.6K
$207.0K – $276.1K
NOI $16,563 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$217.4K
$190.3K – $253.7K
NOI $15,221 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$497.7K
$435.5K – $580.7K
NOI $34,842 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.243403
- Latitude
- 26.213289
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Cash-flowing duplex in central McAllen with reliable long-term tenants.
Where is this duplex located?
The property is located at 2233 Ivy Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Cash‑flowing duplex with reliable long‑term tenants in a prime central McAllen location.; Zoned multi‑family with separate electric and water meters for each unit.; Downstairs unit: 2 bedrooms, 2 baths, plus bonus room/office and 1‑car carport.
