Fully Rented
For Sale
$364,900
2109 Davenport Street, Weslaco, TX 78596
Three residential units include private patios, full appliance packages, and in-unit laundry equipment.
Property Size3,161 SF
Days on Market34
Property Features for 2109 Davenport Street
General Information
Standard status
Active
Size
3,161 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,216
Amenities
stove
refrigerator
microwave
washer
dryer
private patio
Building Details
Building Size
3,161 SF
Year Built
2021
Buildings
2
Stories
1
Units
3
Listing Agency:
Key Realty
(956) 460-7763
Listed By:
Preshina Samtani · License #617748
(956) 460-7763
Source:
Buyingandsellingmcallen
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 5:03PM
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 Key Realty
Investment Insights
Based on property information with market context.
Built in 2021, this triplex contains three residential units: one with two bedrooms and two bathrooms, plus two units with three bedrooms and two bathrooms each. Every unit includes a stove, refrigerator, microwave, washer, dryer, and private patio. The property is fully rented, providing an existing residential occupancy profile.
Located at 2109 Davenport Street in Weslaco, the property is near an expressway, an elementary school, a city park, and the medical district. Its unit mix and included appliances support a straightforward multifamily configuration for residential rental use.
Located at 2109 Davenport Street in Weslaco, the property is near an expressway, an elementary school, a city park, and the medical district. Its unit mix and included appliances support a straightforward multifamily configuration for residential rental use.
Key Highlights
- Fully rented triplex built in 2021
- One 2‑bedroom, 2‑bath unit and two 3‑bedroom, 2‑bath units
- Each unit includes a stove, refrigerator, microwave, washer, and dryer
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
$27,643
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
7.58%
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%
$552,860
$552.9K
Cap Rate 7%
$394,900
$394.9K
Cap Rate 9%
$307,144
$307.1K
Market Conditions
NOI Build-Up for 3,161 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
$44.4K $14.04/SF
− Vacancy
−$4.9K −$1.55/SF
EGI
$39.5K $12.49/SF
− OpEx
−$11.8K −$3.75/SF
NOI
$27.6K $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%
$552,860
Cap Rate 7%
$394,900
Cap Rate 9%
$307,144
Alternative Uses
Best Use
Multifamily LT 5
$394.9K
$345.5K – $460.7K
NOI $27,643 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$363.6K
$318.1K – $424.2K
NOI $25,451 @ 7.0% cap · market cap 6.97%
Theoretical Best
Hotel Hospitality
$2.38M
$2.08M – $2.78M
NOI $166,664 @ 7.0% cap · market cap 45.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
529
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?
Triplex - Three residential units include private patios, full appliance packages, and in-unit laundry equipment.
Where is this triplex located?
The property is located at 2109 Davenport Street Weslaco, TX.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Fully rented triplex built in 2021; One 2‑bedroom, 2‑bath unit and two 3‑bedroom, 2‑bath units; Each unit includes a stove, refrigerator, microwave, washer, and dryer
