Remodeled
For Sale
$259,000
1917 Date Palm Ave, McAllen, TX 78501
Two rented residential units with updated roofs, air-conditioning systems, and flooring.
Property Size1,868 SF
Price / SF$138.65
Days on Market9
Property Features for 1917 Date Palm Ave
General Information
Standard status
Active
Size
1,868 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
Texas Premier Realty
Listed By:
Monica Gonzalez
(121) 084-4868
Source:
Aregtx
Added: Sep 19
Changed: Sep 26
Last Checked: Sep 26 at 11:25AM
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 Texas Premier Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential homes totaling 1,868 square feet. Both units have undergone remodeling that includes new roofs, air-conditioning systems, and flooring. The property was built in 1973, and each home is currently rented.
Located at 1917 Date Palm Ave in McAllen, Texas, the asset offers an existing two-unit configuration with completed updates and in-place occupancy. Its current setup provides a straightforward residential income property profile for buyers seeking a duplex with established tenants and recent improvements.
Located at 1917 Date Palm Ave in McAllen, Texas, the asset offers an existing two-unit configuration with completed updates and in-place occupancy. Its current setup provides a straightforward residential income property profile for buyers seeking a duplex with established tenants and recent improvements.
Key Highlights
- Two residential units totaling 1,868 square feet
- Both homes are currently rented
- Remodeling includes new roofs, air‑conditioning systems, and flooring
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
$16,879
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
6.52%
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%
$337,580
$337.6K
Cap Rate 7%
$241,129
$241.1K
Cap Rate 9%
$187,544
$187.5K
Market Conditions
NOI Build-Up for 1,868 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
$25.8K $13.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$24.1K $12.91/SF
− OpEx
−$7.2K −$3.87/SF
NOI
$16.9K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$337,580
Cap Rate 7%
$241,129
Cap Rate 9%
$187,544
Alternative Uses
Best Use
Multifamily LT 5
$241.1K
$211.0K – $281.3K
NOI $16,879 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$221.6K
$193.9K – $258.5K
NOI $15,512 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$507.2K
$443.8K – $591.8K
NOI $35,507 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two rented residential units with updated roofs, air-conditioning systems, and flooring.
Where is this duplex located?
The property is located at 1917 Date Palm Ave McAllen, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two residential units totaling 1,868 square feet; Both homes are currently rented; Remodeling includes new roofs, air‑conditioning systems, and flooring
