8-Unit Multifamily
New
For Sale
$850,000
2402 Tahiti Dr, Edinburg, TX 78541
Built in 2004, the property offers a low-traffic cul-de-sac setting near shopping, schools, and commuter highways.
Property Size7,848 SF
Price / SF$108.31
Days on Market3
Property Features for 2402 Tahiti Dr
General Information
Standard status
Active
Size
7,848 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Year Built
2004
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Irving N. Kim · License #693229
Source:
Aregtx
Added: Aug 29
Changed: Aug 30
Last Checked: Aug 30 at 1:05PM
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 BIG Realty
Investment Insights
Based on property information with market context.
Located at 2402 Tahiti Dr in Edinburg, this multifamily building contains eight residential units totaling 7,848 square feet. Constructed in 2004, the property is positioned at the end of a cul-de-sac, providing a quieter setting with limited through traffic.
Shopping, schools, and major commuter highways are located within minutes of the property. The site also includes parking and low-maintenance landscaping, supporting straightforward day-to-day property operations.
Shopping, schools, and major commuter highways are located within minutes of the property. The site also includes parking and low-maintenance landscaping, supporting straightforward day-to-day property operations.
Key Highlights
- Eight‑unit multifamily property totaling 7,848 square feet
- Built in 2004
- Situated at the end of a cul‑de‑sac
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
$65,886
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
7.75%
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%
$1,317,720
$1.3M
Cap Rate 7%
$941,229
$941.2K
Cap Rate 9%
$732,067
$732.1K
Market Conditions
NOI Build-Up for 7,848 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
$123.4K $15.72/SF
− Vacancy
−$3.6K −$0.46/SF
EGI
$119.8K $15.26/SF
− OpEx
−$53.9K −$6.87/SF
NOI
$65.9K $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%
$1,317,720
Cap Rate 7%
$941,229
Cap Rate 9%
$732,067
Alternative Uses
Best Use
Apartment 5plus
$941.2K
$823.6K – $1.10M
NOI $65,886 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,545 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
100
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
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?
Apartment building - Built in 2004, the property offers a low-traffic cul-de-sac setting near shopping, schools, and commuter highways.
Where is this apartment building located?
The property is located at 2402 Tahiti Dr Edinburg, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Eight‑unit multifamily property totaling 7,848 square feet; Built in 2004; Situated at the end of a cul‑de‑sac
