Duplex with Central
For Sale
$189,000
Pending
6806 GREYSTONE DR., Brownsville, TX 78521
MULTI_FAMILY - BROWNSVILLE, TX
Property Size1,680 SF
Lot Size0.11 Acres
Days on Market616
Property Features for 6806 GREYSTONE DR.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Interior features
Smoke Alarm(s)
Fencing
Chain Link
Subdivision
RESACA JARDIN
Lot features
Curb & Gutter
Elementary school
VERMILLION
Middle school
PERKINS
High school
RIVERA
Elementary school district
BROWNSVILLE I.S.D.
Middle school district
BROWNSVILLE I.S.D.
High school district
BROWNSVILLE I.S.D.
Standard status
Pending
Size
1,680 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Number of units
2
Flooring type
Tile
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Delia G Sanchez
(956) 204-3082
Added: Dec 4, 2024
Changed: Jul 31
Last Checked: Aug 12 at 11:06AM
MLS# 29761361
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 duplex at 6806 Greystone Dr., Brownsville, TX 78521 includes two residential units, each with two bedrooms, one bath, and a dedicated laundry area. Interior features include smoke alarm(s) and tile flooring throughout. The home is heated and cooled with central systems and is connected to public water and public sewer. Chain link fencing is provided around the property.
The property was built in 2002 and is being sold as-is. With parking described as none, prospective buyers should plan for on-street or alternative parking arrangements based on local conditions.
Set on a 0.1148-acre lot, this duplex is offered for a variety of occupancy approaches, including living in one side and renting the other. It may appeal to buyers seeking a simple two-unit setup with in-unit laundry in both units.
The property was built in 2002 and is being sold as-is. With parking described as none, prospective buyers should plan for on-street or alternative parking arrangements based on local conditions.
Set on a 0.1148-acre lot, this duplex is offered for a variety of occupancy approaches, including living in one side and renting the other. It may appeal to buyers seeking a simple two-unit setup with in-unit laundry in both units.
Key Highlights
- 0.1148‑acre lot size
- Built in 2002
- Two‑bedroom, one‑bath units with laundry area in each unit
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
$13,860
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
7.33%
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%
$277,200
$277.2K
Cap Rate 7%
$198,000
$198.0K
Cap Rate 9%
$154,000
$154.0K
Market Conditions
NOI Build-Up for 1,680 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
$21.2K $12.60/SF
− Vacancy
−$1.4K −$0.81/SF
EGI
$19.8K $11.79/SF
− OpEx
−$5.9K −$3.54/SF
NOI
$13.9K $8.25/SF
Area
Brownsville, 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%
$277,200
Cap Rate 7%
$198,000
Cap Rate 9%
$154,000
Alternative Uses
Best Use
Multifamily LT 5
$198.0K
$173.3K – $231.0K
NOI $13,860 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$181.6K
$158.9K – $211.9K
NOI $12,711 @ 7.0% cap · market cap 6.73%
Theoretical Best
Healthcare Medical
$289.3K
$253.1K – $337.5K
NOI $20,249 @ 7.0% cap · market cap 10.71%
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
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 78521, TX
88,708
Population
29,576
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
62%
High-School Grad
93.7 sq mi
ZIP Area
947
Density / Sq Mi
$41,276
Median Household Income
$24,781
Median Earnings
$864
Median Rent
$90,500
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?
Duplex - Duplex featuring central air and tile flooring, with two-bedroom, one-bath units and in-unit laundry areas.
Where is this duplex located?
The property is located at 6806 GREYSTONE DR. Brownsville, TX.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 0.1148‑acre lot size; Built in 2002; Two‑bedroom, one‑bath units with laundry area in each unit
