Renovated
New
For Sale
$225,000
1524 Ramos Drive, Weslaco, TX 78596
Both residences are leased, and appliances convey with each unit.
Property Size1,300 SF
Price / SF$173.08
Days on Market4
Property Features for 1524 Ramos Drive
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,712
Amenities
Ceiling Fan(s)
Dryer
Microwave
Walk-In Closet(s)
Washer
Sprinkler System
Building Details
Building Size
1,300 SF
Year Built
1968
Buildings
1
Stories
1
Units
2
Listing Agency:
Mariposa Realty RGV INC
(956) 252-0004
Listed By:
Elizabeth Gonzalez
(956) 339-5498
Source:
Justrealty
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:33AM
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 Mariposa Realty RGV INC
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Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bath units. The property was fully gutted and renovated seven years ago, and each residence includes appliances that transfer with the sale.
Both units are currently under lease. The building dates to 1968 and is located in Weslaco, Texas.
Both units are currently under lease. The building dates to 1968 and is located in Weslaco, Texas.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Both residences are currently under lease
- Full gut renovation completed 7 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,368
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,360
$227.4K
Cap Rate 7%
$162,400
$162.4K
Cap Rate 9%
$126,311
$126.3K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$18.3K $14.04/SF
− Vacancy
−$2.0K −$1.55/SF
EGI
$16.2K $12.49/SF
− OpEx
−$4.9K −$3.75/SF
NOI
$11.4K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,360
Cap Rate 7%
$162,400
Cap Rate 9%
$126,311
Alternative Uses
Best Use
Multifamily LT 5
$162.4K
$142.1K – $189.5K
NOI $11,368 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$149.5K
$130.8K – $174.5K
NOI $10,467 @ 7.0% cap · market cap 4.65%
Theoretical Best
Hotel Hospitality
$979.2K
$856.8K – $1.14M
NOI $68,543 @ 7.0% cap · market cap 30.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
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?
Duplex - Both residences are leased, and appliances convey with each unit.
Where is this duplex located?
The property is located at 1524 Ramos Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Both residences are currently under lease; Full gut renovation completed 7 years ago
