Cash-Flowing Duplex with
2233 Ivy Avenue McAllen, TX 78501
For Sale
Contact for pricing
Two-unit duplex features separate meters, two-bedroom downstairs, and one-bedroom upstairs plus an oversized garage with side alley access.
Property Size1,833 SF
Price / SF$130.39
Days on Market102
Property Features for 2233 Ivy Avenue
General Information
- Standard status
- Active
- Size
- 1,833 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1983
Listing Agency:
Dolce Vita Realty
(956) 784-2427
Listed By:
Olga Arriaga
Source:
Crexi
Added: Apr 13
Changed: Jul 23
Last Checked: Jul 23 at 5:44PM
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 Dolce Vita Realty
Investment Insights
Based on property information with market context.
This income-producing duplex includes a downstairs and an upstairs unit. The downstairs unit has 2 bedrooms and 2 baths, plus a bonus room/office without a window, a spacious laundry room, and tile flooring. It also includes a 1-car carport with driveway, washer and dryer connections, and kitchen appliances. The upstairs unit has 1 bedroom and 1 bath with laminate flooring, stainless steel appliances, and an in-unit stackable washer and dryer.
The property includes zoning for multi-family use and is serviced by 2 electric meters and 2 water meters. An oversized garage is accessed from a side alley and is currently used as maintenance storage.
The duplex is listed for sale and is described as being occupied by long-term tenants. The oversized garage offers flexibility given its size and side-alley access.
The property includes zoning for multi-family use and is serviced by 2 electric meters and 2 water meters. An oversized garage is accessed from a side alley and is currently used as maintenance storage.
The duplex is listed for sale and is described as being occupied by long-term tenants. The oversized garage offers flexibility given its size and side-alley access.
Key Highlights
- Cash‑flowing duplex built in 1983 with two rental units: 2BR/2BA downstairs and 1BR/1BA upstairs
- Downstairs unit includes a bonus room/office, spacious laundry room, tile flooring, and 1‑car carport with driveway
- Upstairs unit features laminate flooring and stainless steel appliances with in‑unit stackable washer and dryer
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.3k | $13.80 |
| − Vacancy | −$1.6k | −$0.89 |
| EGI | $23.7k | $12.91 |
| − OpEx | −$7.1k | −$3.87 |
| NOI | $16.6k | $9.04 |
1,833 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.6K
$207.0K – $276.1K
NOI $16,563 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$217.4K
$190.3K – $253.7K
NOI $15,221 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$497.7K
$435.5K – $580.7K
NOI $34,842 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex features separate meters, two-bedroom downstairs, and one-bedroom upstairs plus an oversized garage with side alley access.
Where is this duplex located?
The property is located at 2233 Ivy Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Cash‑flowing duplex built in 1983 with two rental units: 2BR/2BA downstairs and 1BR/1BA upstairs; Downstairs unit includes a bonus room/office, spacious laundry room, tile flooring, and 1‑car carport with driveway; Upstairs unit features laminate flooring and stainless steel appliances with in‑unit stackable washer and dryer
