Brick Duplex with
New
For Sale
$249,000
209 N Bluebonnet Street, Alton, TX 78573
Residential Income, Alton, TX
Property Size1,800 SF
Lot Size0.16 Acres
Price / SF$138.33
Days on Market3
Property Features for 209 N Bluebonnet Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
6
Parking features
Other, Garage
Patio and Porch features
Patio
Exterior features
Mature Trees
Fencing
Chain Link
Appliances
Electric Water Heater, Refrigerator
Subdivision
Tri-City #2
Elementary school
Jensen
Middle school
North Jr. High
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
From McAllen head West on Trenton past Glasscock. Turn North on Vega St. Left on Monroe Ave and then North on Blue Bonnet.
Standard status
Active
APN
T73000200C009000
Size
1,800 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
4226
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
2005
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Edgar Rodriguez
(956) 627-7963
Added: Sep 10
Last Checked: Sep 12 at 5:06AM
MLS# 515009
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex was built in 2005 with brick construction and a shingle roof. The property is described as fully rented and includes a two-bedroom, two-bath configuration, along with a garage, patio, chain-link fencing, and mature trees. Central electric heating and central air conditioning serve the building, while an electric water heater and refrigerator are included among the appliances.
The property sits on 0.1607 acres at 209 N Bluebonnet Street in Alton, Hidalgo County. A school is within walking distance, providing a nearby community amenity. The combination of residential income use, existing occupancy, and on-site garage parking gives the property a straightforward rental configuration.
The property sits on 0.1607 acres at 209 N Bluebonnet Street in Alton, Hidalgo County. A school is within walking distance, providing a nearby community amenity. The combination of residential income use, existing occupancy, and on-site garage parking gives the property a straightforward rental configuration.
Key Highlights
- Duplex with 1,800 square feet of property size
- Fully rented two‑bedroom, two‑bath configuration
- Built in 2005 with brick construction and a shingle roof
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
$15,741
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
6.32%
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%
$314,820
$314.8K
Cap Rate 7%
$224,871
$224.9K
Cap Rate 9%
$174,900
$174.9K
Market Conditions
NOI Build-Up for 1,800 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
$25.3K $14.04/SF
− Vacancy
−$2.8K −$1.55/SF
EGI
$22.5K $12.49/SF
− OpEx
−$6.7K −$3.75/SF
NOI
$15.7K $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 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%
$314,820
Cap Rate 7%
$224,871
Cap Rate 9%
$174,900
Alternative Uses
Best Use
Multifamily LT 5
$224.9K
$196.8K – $262.4K
NOI $15,741 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$207.0K
$181.2K – $241.6K
NOI $14,493 @ 7.0% cap · market cap 5.82%
Theoretical Best
Hotel Hospitality
$1.36M
$1.19M – $1.58M
NOI $94,905 @ 7.0% cap · market cap 38.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
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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 - Fully rented duplex with central HVAC, a garage, patio, and chain-link fencing in Alton.
Where is this duplex located?
The property is located at 209 N Bluebonnet Street Alton, TX.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex with 1,800 square feet of property size; Fully rented two‑bedroom, two‑bath configuration; Built in 2005 with brick construction and a shingle roof
