Gated Triplex with Solar
For Sale
$387,000
13048 Sparks Drive, El Paso, TX 79928
Residential Income, El Paso, TX
Property Size3,272 SF
Lot Size0.15 Acres
Price / SF$118.28
Days on Market268
Property Features for 13048 Sparks Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Out of Area
Appliances
Washer Hookup, Disposal, Dishwasher
Subdivision
Sparks
Elementary school
Mission Ridge
Middle school
Desert Wind
High school
Eastlake
Elementary school district
Socorro
Middle school district
Socorro
High school district
Socorro
Standard status
Active
APN
88254
Size
3,272 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
47 SPARKS #3 LOT 9
Tax Annual Amount
7383
Legal Description
47 SPARKS #3 LOT 9
Utilities
Sewer type
Public Sewer
Heating system
Solar (Heating), Forced Air, Central
Amenities
solar panels
refrigerated air
gated lot
Building Details
Year built
2008
Number of units
3
Building materials
Stucco
Roof type
Composition
Listing Agency:
R C Properties
(915) 328-9992
Listed By:
Michael Bray · License #0385615
(915) 549-1770
Added: Dec 8, 2025
Changed: Sep 1
Last Checked: Sep 2 at 5:06AM
MLS# 934966
Copyright © 2026 Greater El Paso 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.
Built in 2008, this 3,272-square-foot triplex occupies a gated 0.15-acre lot in El Paso’s Sparks subdivision. The primary residence includes four bedrooms and three baths, while a separate duplex adds one one-bedroom unit and one two-bedroom unit. Stucco construction, composition roofing, public sewer service, and central refrigerated air are present across the property.
Paid-off solar panels provide an additional property feature, and the units are structured under a modified gross arrangement in which tenants pay all utilities while the landlord covers taxes and insurance. Reported operating metrics include an 8.21% cap rate, 1.25% DSCR, 13.63% ROI, and 6.21% cash-on-cash return. Appliances and hookups include dishwashers, disposals, and washer hookups.
Paid-off solar panels provide an additional property feature, and the units are structured under a modified gross arrangement in which tenants pay all utilities while the landlord covers taxes and insurance. Reported operating metrics include an 8.21% cap rate, 1.25% DSCR, 13.63% ROI, and 6.21% cash-on-cash return. Appliances and hookups include dishwashers, disposals, and washer hookups.
Key Highlights
- 3,272‑square‑foot triplex on a 0.15‑acre gated lot
- Primary home includes 4 bedrooms and 3 baths
- Separate duplex contains 1‑bedroom and 2‑bedroom 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
$29,321
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
7.58%
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%
$586,420
$586.4K
Cap Rate 7%
$418,871
$418.9K
Cap Rate 9%
$325,789
$325.8K
Market Conditions
NOI Build-Up for 3,272 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
$44.0K $13.44/SF
− Vacancy
−$2.1K −$0.64/SF
EGI
$41.9K $12.80/SF
− OpEx
−$12.6K −$3.84/SF
NOI
$29.3K $8.96/SF
Area
ZIP 79928
Vacancy
4.75%
Lease Rate
$13.44 /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%
$586,420
Cap Rate 7%
$418,871
Cap Rate 9%
$325,789
Alternative Uses
Best Use
Multifamily LT 5
$418.9K
$366.5K – $488.7K
NOI $29,321 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$386.9K
$338.5K – $451.3K
NOI $27,080 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$572.1K
$500.6K – $667.5K
NOI $40,049 @ 7.0% cap · market cap 10.35%
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
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 79928, TX
78,971
Population
24,841
Households
3.2
Avg Household Size
29
Median Age
24%
College-Educated
85%
High-School Grad
209.9 sq mi
ZIP Area
376
Density / Sq Mi
$73,704
Median Household Income
$37,406
Median Earnings
$1,145
Median Rent
$188,600
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 - Three residential units combine a spacious primary home with a separate one-bedroom and two-bedroom duplex.
Where is this triplex located?
The property is located at 13048 Sparks Drive El Paso, TX.
What is the asking price?
The asking price for this property is $387,000.
What are key features of this property?
This property features: 3,272‑square‑foot triplex on a 0.15‑acre gated lot; Primary home includes 4 bedrooms and 3 baths; Separate duplex contains 1‑bedroom and 2‑bedroom units
