Remodeled
For Sale
$374,950
1008 East Nevada Avenue, El Paso, TX 79902
Three updated units offer quartz-finished kitchens, individual A/C units, and access to a shared laundry room.
Property Size3,428 SF
Price / SF$109.38
Days on Market331
Property Features for 1008 East Nevada Avenue
General Information
Standard status
Active
Size
3,428 SF
Property subtype
Multi-Family / Triplex
Zoning
R3
Taxes and HOA fees
Annual Taxes
$7,795
Amenities
Yes
Carpet, Hardwood, Tile
Microwave, Dryer, Cooktop, Built-In Electric Oven
.00
Flat, Pitched, Shingle
Building Details
Year Built
1919
Listing Agency:
Realty Of America, LLC
(915) 276-4639
Listed By:
Victor A Alonzo · License #0473267
Source:
Compass
Added: Oct 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Of America, LLC
Investment Insights
Based on property information with market context.
This 3,428-square-foot triplex, built in 1919, has been remodeled with updated interiors across its three units. Kitchens include quartz countertops, appliances, double-pane windows, and individual A/C units. Bathrooms feature LED rain shower heads, while flooring includes carpet, hardwood, and tile. A shared laundry room serves the property, and an alarm system is installed for security. The exterior combines flat and pitched shingle roofing.
Located at 1008 East Nevada Avenue in El Paso, Texas, the property carries R3 zoning. The configuration and improvements support multifamily ownership or an owner-occupant arrangement, both of which are directly stated as potential uses in the property information.
Located at 1008 East Nevada Avenue in El Paso, Texas, the property carries R3 zoning. The configuration and improvements support multifamily ownership or an owner-occupant arrangement, both of which are directly stated as potential uses in the property information.
Key Highlights
- 3,428‑square‑foot triplex with three units
- Remodeled kitchens with quartz countertops and appliances
- Double‑pane windows and individual A/C units
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
$30,993
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
8.27%
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%
$619,860
$619.9K
Cap Rate 7%
$442,757
$442.8K
Cap Rate 9%
$344,367
$344.4K
Market Conditions
NOI Build-Up for 3,428 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
$46.5K $13.56/SF
− Vacancy
−$2.2K −$0.64/SF
EGI
$44.3K $12.92/SF
− OpEx
−$13.3K −$3.87/SF
NOI
$31.0K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /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%
$619,860
Cap Rate 7%
$442,757
Cap Rate 9%
$344,367
Alternative Uses
Best Use
Multifamily LT 5
$442.8K
$387.4K – $516.6K
NOI $30,993 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$408.4K
$357.3K – $476.4K
NOI $28,586 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$860.0K
$752.5K – $1.00M
NOI $60,200 @ 7.0% cap · market cap 16.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 79902, TX
20,071
Population
9,752
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
6.5 sq mi
ZIP Area
3,088
Density / Sq Mi
$45,333
Median Household Income
$33,495
Median Earnings
$777
Median Rent
$223,300
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 - Three updated units offer quartz-finished kitchens, individual A/C units, and access to a shared laundry room.
Where is this triplex located?
The property is located at 1008 East Nevada Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $374,950.
What are key features of this property?
This property features: 3,428‑square‑foot triplex with three units; Remodeled kitchens with quartz countertops and appliances; Double‑pane windows and individual A/C units
