6-Unit Apartment
For Sale
$480,000
Pending
1321 NESMITH ST., Harlingen, TX 78550
Residential Income, HARLINGEN, TX
Property Size4,212 SF
Lot Size0.21 Acres
Days on Market57
Property Features for 1321 NESMITH ST.
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Exterior features
Deck/Balcony/Porch
Fencing
Chain Link
Appliances
Range
Subdivision
J R S
Elementary school
AUSTIN
Middle school
MEMORIAL
High school
HARLINGEN SOUTH
Elementary school district
HARLINGEN C.I.S.D.
Middle school district
HARLINGEN C.I.S.D.
High school district
HARLINGEN C.I.S.D.
Standard status
Pending
Size
4,212 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
fully fenced
Building Details
Year built
2004
Floors in Building
2
Number of units
6
Flooring type
Vinyl, Tile
Listing Agency:
KELLER WILLIAMS LRGV · Keller Williams Realty
(956) 423-8877
Listed By:
AUDREY KRUPALA · License #672812
(956) 245-8310
Added: Aug 21
Changed: Oct 11
Last Checked: Oct 16 at 6:06AM
MLS# 29778923
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.
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Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 4,212 square feet of living area, with each residence configured as a 2-bedroom, 1-bath unit. Three apartments are on the ground floor and three are upstairs. The complex was built in 2004 and is enclosed by chain-link fencing.
All six apartments are occupied. The property sits on 0.2098 acres and has public water and sewer service. Its location near the expressway provides access to shopping, dining, schools, and other area amenities.
All six apartments are occupied. The property sits on 0.2098 acres and has public water and sewer service. Its location near the expressway provides access to shopping, dining, schools, and other area amenities.
Key Highlights
- Six apartments, each with a 2‑bedroom, 1‑bath layout
- 4,212 square feet of total living area
- Three units on the ground floor and three upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,868
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,360
$637.4K
Cap Rate 7%
$455,257
$455.3K
Cap Rate 9%
$354,089
$354.1K
Market Conditions
NOI Build-Up for 4,212 SF
Gross rent
$62.2K $14.76/SF
− Vacancy
−$4.2K −$1.00/SF
EGI
$57.9K $13.76/SF
− OpEx
−$26.1K −$6.19/SF
NOI
$31.9K $7.57/SF
Area
Cameron County, TX
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,360
Cap Rate 7%
$455,257
Cap Rate 9%
$354,089
Alternative Uses
Best Use
Apartment 5plus
$455.3K
$398.4K – $531.1K
NOI $31,868 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$725.2K
$634.6K – $846.1K
NOI $50,766 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All six residences have two bedrooms and one bathroom, with an even split between ground-floor and upper-level units.
Where is this apartment building located?
The property is located at 1321 NESMITH ST. Harlingen, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Six apartments, each with a 2‑bedroom, 1‑bath layout; 4,212 square feet of total living area; Three units on the ground floor and three upstairs
