Four-Unit Brick Apartment
For Sale
$430,000
Pending
2108 Davenport Street, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size3,944 SF
Lot Size0.23 Acres
Days on Market92
Property Features for 2108 Davenport Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Water Heater (Other Location), Dryer, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Airport Heights
Lot features
Corner Lot
Elementary school
Airport Dr.
Middle school
Cuellar
High school
Weslaco H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
From express way 83 and Mile 4 Rd W go South on Mile 4 Rd W West on E Llano Grande St South on Palo blanco Ln east on Davenport St
Standard status
Pending
APN
A144500000001300
Size
3,944 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9859
HOA Fee
$600 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
10
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Gustavo Figueroa · License #602632
(956) 588-6550
Added: Jun 9
Changed: Sep 4
Last Checked: Sep 8 at 1:06AM
MLS# 498102
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 four-unit residential property contains 3,944 square feet on a 0.2342-acre lot and was built in 2022. The unit mix includes two three-bedroom, two-bath residences and two two-bedroom, two-bath residences, providing a range of floor plans within one asset. Brick construction, shingle roofing, central electric heating and cooling, and public water service are in place. Each residence includes a kitchen equipped with an electric range, refrigerator, washer, dryer, and water heater. Garage parking and an exterior sprinkler system add practical functionality.
The property is located at 2108 Davenport Street in Weslaco, Hidalgo County, Texas, near shopping, dining, schools, and major roadways. Its residential configuration and multiple unit layouts support use as a rental housing property.
The property is located at 2108 Davenport Street in Weslaco, Hidalgo County, Texas, near shopping, dining, schools, and major roadways. Its residential configuration and multiple unit layouts support use as a rental housing property.
Key Highlights
- Four‑unit property with 3,944 square feet of building area
- Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units
- Built in 2022 on a 0.2342‑acre lot
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
$34,490
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
8.02%
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%
$689,800
$689.8K
Cap Rate 7%
$492,714
$492.7K
Cap Rate 9%
$383,222
$383.2K
Market Conditions
NOI Build-Up for 3,944 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
$55.4K $14.04/SF
− Vacancy
−$6.1K −$1.55/SF
EGI
$49.3K $12.49/SF
− OpEx
−$14.8K −$3.75/SF
NOI
$34.5K $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%
$689,800
Cap Rate 7%
$492,714
Cap Rate 9%
$383,222
Alternative Uses
Best Use
Multifamily LT 5
$492.7K
$431.1K – $574.8K
NOI $34,490 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$453.6K
$396.9K – $529.3K
NOI $31,755 @ 7.0% cap · market cap 7.38%
Theoretical Best
Hotel Hospitality
$2.97M
$2.60M – $3.47M
NOI $207,947 @ 7.0% cap · market cap 48.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
505
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently built income property with varied two- and three-bedroom floor plans, private bathrooms, garages, and central air conditioning.
Where is this quadplex located?
The property is located at 2108 Davenport Street Weslaco, TX.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four‑unit property with 3,944 square feet of building area; Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units; Built in 2022 on a 0.2342‑acre lot
