Triplex with Private
For Sale
$364,900
2109 Davenport Street, Weslaco, TX 78596
MULTI_FAMILY - Weslaco, TX
Property Size3,161 SF
Lot Size0.24 Acres
Price / SF$115.44
Days on Market58
Property Features for 2109 Davenport Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Other
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Dryer, Microwave, Oven-Single, Stove/Range-Electric Smooth, Washer
Subdivision
Airport Heights
Lot features
Curb & Gutters
Elementary school
Airport Dr.
Middle school
Cuellar
High school
Weslaco East H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
From exprewway I-2/US-83 E exit Airport Dr. Head south on N Airport Dr. Make a left on Stauffers St. Left on S Palo Blanco Ln turns left and becomes Davenport St. Property will be on the right.
Standard status
Active
APN
A144500000001200
Size
3,161 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8216
HOA Fee
$450 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
stove
refrigerator
microwave
washer
dryer
private patio
Building Details
Year built
2021
Floors in Building
1
Number of units
3
Building materials
Stucco
Roof type
Composition
Listing Agency:
Key Realty
(956) 627-7552
Listed By:
Preshina Samtani · License #617748
(956) 460-7763
Added: Jun 27
Changed: Jul 30
Last Checked: Aug 23 at 12:06AM
MLS# 500367
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 fully rented triplex was built in 2021 and totals 3,161 square feet across three units. The property includes one 2-bedroom, 2-bath unit and two 3-bedroom, 2-bath units. Each unit is equipped with a stove, refrigerator, microwave, washer, and dryer, and also includes a private patio for outdoor space.
The home is constructed with stucco exterior materials and has a composition roof. Heating is electric (heating) and central, and cooling is electric with central air. A sprinkler system is included, with water service provided by the public system.
A practical investment setup for tenants, with appliances and in-unit laundry included in every unit, making day-to-day occupancy straightforward.
The home is constructed with stucco exterior materials and has a composition roof. Heating is electric (heating) and central, and cooling is electric with central air. A sprinkler system is included, with water service provided by the public system.
A practical investment setup for tenants, with appliances and in-unit laundry included in every unit, making day-to-day occupancy straightforward.
Key Highlights
- Fully rented triplex built in 2021
- One 2‑bedroom, 2‑bath unit and two 3‑bedroom, 2‑bath units
- Private patios included with every unit
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
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?
Triplex - Fully rented triplex featuring one 2-bedroom unit and two 3-bedroom units, each with in-unit laundry and patio space.
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; Private patios included with every unit
