Triplex with Corner
For Sale
$195,000
100 S Iowa Avenue, Weslaco, TX 78596
MULTI_FAMILY - Weslaco, TX
Property Size2,072 SF
Lot Size0.11 Acres
Price / SF$94.11
Days on Market63
Property Features for 100 S Iowa Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Fencing
Chain Link
Appliances
Electric Water Heater, No Conveying Appliances
Subdivision
Weslaco Original Townsite
Lot features
Curb & Gutters
Elementary school
Airport Dr.
Middle school
Cuellar
High school
Weslaco East H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
Head South on Texas Blvd, take a left (east) on 1st st, pass Illinois Ave and property is on the corner of Iowa Ave.
Standard status
Active
APN
W23000000B000100
Size
2,072 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3243
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Number of units
3
Building materials
Block, Frame/Wood
Roof type
Composition
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Cecilia Gonzales · License #767526
(956) 854-1444
Added: Jun 18
Changed: Aug 3
Last Checked: Aug 19 at 1:06PM
MLS# 504160
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 triplex includes two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The property has a composition roof described as approximately 8 years old and electric HVAC with central air, with HVAC units replaced approximately 3 years ago. The electric water heater is described as 1 year old. Construction materials include block and frame/wood, and the exterior is fenced with chain link. Public water is provided.
Set on a 0.1125-acre corner lot, the property includes parking for 5 vehicles. The building is approximately 2,072 square feet and was built in 1969.
Electric heating and central air are in place for tenant comfort, with electric water heating noted as present. The unit mix supports multiple household sizes within one building, and tenants should not be disturbed for showings.
Set on a 0.1125-acre corner lot, the property includes parking for 5 vehicles. The building is approximately 2,072 square feet and was built in 1969.
Electric heating and central air are in place for tenant comfort, with electric water heating noted as present. The unit mix supports multiple household sizes within one building, and tenants should not be disturbed for showings.
Key Highlights
- Two 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit
- Composition roof described as approximately 8 years old
- HVAC units replaced approximately 3 years ago; electric central air
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
$16,683
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
8.56%
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%
$333,660
$333.7K
Cap Rate 7%
$238,329
$238.3K
Cap Rate 9%
$185,367
$185.4K
Market Conditions
NOI Build-Up for 2,072 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
$34.3K $16.56/SF
− Vacancy
−$4.0K −$1.92/SF
EGI
$30.3K $14.64/SF
− OpEx
−$13.6K −$6.59/SF
NOI
$16.7K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$333,660
Cap Rate 7%
$238,329
Cap Rate 9%
$185,367
Alternative Uses
Best Use
Multifamily LT 5
$258.9K
$226.5K – $302.0K
NOI $18,120 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$238.3K
$208.5K – $278.1K
NOI $16,683 @ 7.0% cap · market cap 8.56%
Theoretical Best
Hotel Hospitality
$1.56M
$1.37M – $1.82M
NOI $109,246 @ 7.0% cap · market cap 56.02%
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
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
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?
Triplex - Triplex configuration with two 2-bedroom units and one 1-bedroom unit, plus 5 parking spaces on a corner lot.
Where is this triplex located?
The property is located at 100 S Iowa Avenue Weslaco, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit; Composition roof described as approximately 8 years old; HVAC units replaced approximately 3 years ago; electric central air
