3-Unit Triplex with
For Sale
$250,000
600 S Canal Street, La Feria, TX 78559
Residential Income, La Feria, TX
Property Size1,640 SF
Lot Size1.13 Acres
Price / SF$152.44
Days on Market145
Property Features for 600 S Canal Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
6
Parking features
Garage
Exterior features
Mature Trees
Appliances
Electric Water Heater, Refrigerator, Stove/Range
Subdivision
La Feria Land & Irrigation Co
Lot features
Irregular Lot, Mature Trees
Elementary school
Dominguez
Middle school
Green Junior High
High school
La Feria H.S.
Elementary school district
La Feria ISD
Middle school district
La Feria ISD
High school district
La Feria ISD
Directions
From higway business 83, turn south on Canal, drive south about 6 blocks and the property will be on your right hand side between the church and the middle school.
Standard status
Active
APN
8529400220040100
Size
1,640 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7009
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
coin-operated laundry facility
Building Details
Year built
1980
Floors in Building
1
Number of units
3
Building materials
Brick, Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Marvelia Monroy · License #0736310
(956) 650-5215
Added: Apr 15
Changed: Aug 26
Last Checked: Sep 6 at 3:06AM
MLS# 488544
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.
Investment Insights
Based on property information with market context.
This 1,640-square-foot triplex contains three individual one-bedroom, one-bath units within a single building. Built in 1980, the property has brick and siding construction, composition roofing, window-unit cooling, electric water heating, refrigerators, and stove/ranges. A coin-operated laundry facility serves residents, while the garage provides an additional enclosed improvement. The 1.13-acre site also includes ample parking and mature trees.
Located at 600 S Canal Street in La Feria, Texas, the property is within walking distance of stores, restaurants, schools, and a church. Public water service supports the property, and the unit configuration provides a clearly defined multifamily layout.
Located at 600 S Canal Street in La Feria, Texas, the property is within walking distance of stores, restaurants, schools, and a church. Public water service supports the property, and the unit configuration provides a clearly defined multifamily layout.
Key Highlights
- Three individual 1‑bed/1‑bath units in one building
- 1,640‑square‑foot triplex on 1.13 acres
- Coin‑operated laundry facility for residents
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
$13,530
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
5.41%
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%
$270,600
$270.6K
Cap Rate 7%
$193,286
$193.3K
Cap Rate 9%
$150,333
$150.3K
Market Conditions
NOI Build-Up for 1,640 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
$20.7K $12.60/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$19.3K $11.79/SF
− OpEx
−$5.8K −$3.54/SF
NOI
$13.5K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
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%
$270,600
Cap Rate 7%
$193,286
Cap Rate 9%
$150,333
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.1K – $225.5K
NOI $13,530 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$177.3K
$155.1K – $206.8K
NOI $12,408 @ 7.0% cap · market cap 4.96%
Theoretical Best
Healthcare Medical
$282.4K
$247.1K – $329.5K
NOI $19,767 @ 7.0% cap · market cap 7.91%
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
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 78559, TX
12,533
Population
5,047
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
72%
High-School Grad
36.3 sq mi
ZIP Area
345
Density / Sq Mi
$48,117
Median Household Income
$31,927
Median Earnings
$985
Median Rent
$99,900
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?
Triplex - Brick-and-siding property includes resident laundry, a garage, mature trees, and public water service.
Where is this triplex located?
The property is located at 600 S Canal Street La Feria, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three individual 1‑bed/1‑bath units in one building; 1,640‑square‑foot triplex on 1.13 acres; Coin‑operated laundry facility for residents
