Residential Income Property with
New
For Sale
$162,000
Apt-2-920 13th UNIT #2 13th St, Alamo, TX 78516
Three-bedroom condo with an open layout and convenient expressway access near shopping, dining, and schools.
Property Size1,140 SF
Price / SF$142.11
Days on Market7
Property Features for Apt-2-920 13th UNIT #2 13th St
General Information
Standard status
Active
Size
1,140 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1.00
Listing Agency:
SANETI Realty Group
(956) 833-1850
Listed By:
Elisa Rios
(956) 483-2082
Source:
Exprealty
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 5 at 12:28PM
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 SANETI Realty Group
Investment Insights
Based on property information with market context.
This residential income property is a three-bedroom, two-bath condominium with approximately 1,140 square feet of living area. Its open-concept design brings the kitchen, dining area, and living room together in a connected floor plan, while included appliances add to the existing setup.
The property is located less than 2 minutes from the Expressway, with access to shopping, dining, and schools nearby. The condominium’s bedroom and bath count, combined with its connected common areas, provides a clearly defined residential configuration.
The property is located less than 2 minutes from the Expressway, with access to shopping, dining, and schools nearby. The condominium’s bedroom and bath count, combined with its connected common areas, provides a clearly defined residential configuration.
Key Highlights
- Three‑bedroom, two‑bath condominium
- Approximately 1,140 sq. ft. of living space
- Open‑concept kitchen, dining, and living areas
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
$9,179
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
5.67%
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%
$183,580
$183.6K
Cap Rate 7%
$131,129
$131.1K
Cap Rate 9%
$101,989
$102.0K
Market Conditions
NOI Build-Up for 1,140 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
$18.9K $16.56/SF
− Vacancy
−$2.2K −$1.92/SF
EGI
$16.7K $14.64/SF
− OpEx
−$7.5K −$6.59/SF
NOI
$9.2K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /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%
$183,580
Cap Rate 7%
$131,129
Cap Rate 9%
$101,989
Alternative Uses
Best Use
Apartment 5plus
$131.1K
$114.7K – $153.0K
NOI $9,179 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$858.7K
$751.3K – $1.00M
NOI $60,107 @ 7.0% cap · market cap 37.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 78516, TX
34,506
Population
12,469
Households
2.8
Avg Household Size
32
Median Age
12%
College-Educated
59%
High-School Grad
37.8 sq mi
ZIP Area
913
Density / Sq Mi
$51,547
Median Household Income
$26,908
Median Earnings
$743
Median Rent
$102,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condo with an open layout and convenient expressway access near shopping, dining, and schools.
Where is this residential income property located?
The property is located at Apt-2-920 13th UNIT #2 13th St Alamo, TX.
What is the asking price?
The asking price for this property is $162,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium; Approximately 1,140 sq. ft. of living space; Open‑concept kitchen, dining, and living areas
