8-Unit Apartment
For Sale
$895,000
1312 Carmen Avenue, Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size6,756 SF
Lot Size0.36 Acres
Price / SF$132.47
Days on Market126
Property Features for 1312 Carmen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Other
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Martinez
Lot features
Curb & Gutters
Elementary school
Truman
Middle school
B.L. Garza
High school
Edinburg North H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
Head north on Sugar Rd passing Chapin Rd, turn right onto Carmen Ave. Property will be on the right hand side.
Standard status
Active
APN
M151000000000105
Size
6,756 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13152
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2011
Floors in Building
2
Number of units
8
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: May 14
Changed: Sep 12
Last Checked: Sep 16 at 6:06AM
MLS# 491380
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.
Located at 1312 Carmen Avenue in Edinburg, Texas, this 8-unit apartment property contains eight two-bedroom, two-bath residences within 6,756 square feet. The building was completed in 2011 and features brick construction, composition roofing, central air conditioning, and central electric heating.
Seven of the eight units are currently leased. The 0.3599-acre property is served by public water and includes electric water heating, refrigerators, stove/ranges, washers, and dryers. Its residential layout and existing occupancy provide a straightforward multifamily configuration for an income-property buyer.
Seven of the eight units are currently leased. The 0.3599-acre property is served by public water and includes electric water heating, refrigerators, stove/ranges, washers, and dryers. Its residential layout and existing occupancy provide a straightforward multifamily configuration for an income-property buyer.
Key Highlights
- Eight 2‑bedroom, 2‑bath apartment units
- 7 of 8 units currently leased
- 6,756 square feet on 0.3599 acres
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
$56,718
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
6.34%
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%
$1,134,360
$1.1M
Cap Rate 7%
$810,257
$810.3K
Cap Rate 9%
$630,200
$630.2K
Market Conditions
NOI Build-Up for 6,756 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
$106.2K $15.72/SF
− Vacancy
−$3.1K −$0.46/SF
EGI
$103.1K $15.26/SF
− OpEx
−$46.4K −$6.87/SF
NOI
$56.7K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /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%
$1,134,360
Cap Rate 7%
$810,257
Cap Rate 9%
$630,200
Alternative Uses
Best Use
Apartment 5plus
$810.3K
$709.0K – $945.3K
NOI $56,718 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.05M
NOI $122,711 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
87.5%
Occupancy
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with eight two-bedroom, two-bath residences and central electric heating and cooling.
Where is this apartment building located?
The property is located at 1312 Carmen Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Eight 2‑bedroom, 2‑bath apartment units; 7 of 8 units currently leased; 6,756 square feet on 0.3599 acres
