Multifamily Property With Rental
For Sale
$450,000
2314 Wyoming Ave, El Paso, TX 79903
Seven-unit configuration combines a main residence with remodeled rental units and access to I-10.
Property Size3,400 SF
Price / SF$132.35
Days on Market31
Property Features for 2314 Wyoming Ave
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Residential Income
Occupancy
100%
Financials
Cap Rate
8.3%
Gross Income
$57,600
Additional Details
Highway Access
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$7,999
Listing Agency:
ClearView Realty
(915) 667-6066
Listed By:
Randy Solis
(915) 667-6066
Source:
Exprealty
Added: Aug 2
Changed: Aug 25
Last Checked: Aug 31 at 12:00AM
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 ClearView Realty
Investment Insights
Based on property information with market context.
This 3,400 SF multifamily property includes a three-bedroom main residence and six additional rental units on the same site. The rental units have been recently remodeled, providing updated interiors across the property’s residential configuration. The asset is currently 100% occupied and has an 8.3% cap rate.
Located at 2314 Wyoming Ave in El Paso, the property offers access to I-10 and is minutes from Downtown and UTEP. Shopping, dining, hospitals, and entertainment are also nearby, providing a range of surrounding amenities for residents.
Located at 2314 Wyoming Ave in El Paso, the property offers access to I-10 and is minutes from Downtown and UTEP. Shopping, dining, hospitals, and entertainment are also nearby, providing a range of surrounding amenities for residents.
Key Highlights
- 3,400 SF multifamily property at 2314 Wyoming Ave, El Paso, TX
- Three‑bedroom main residence plus six additional rental units
- Rental units recently remodeled with updated interiors
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
$28,353
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
6.30%
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%
$567,060
$567.1K
Cap Rate 7%
$405,043
$405.0K
Cap Rate 9%
$315,033
$315.0K
Market Conditions
NOI Build-Up for 3,400 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
$54.3K $15.96/SF
− Vacancy
−$2.7K −$0.80/SF
EGI
$51.6K $15.16/SF
− OpEx
−$23.2K −$6.82/SF
NOI
$28.4K $8.34/SF
Area
El Paso, TX
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$567,060
Cap Rate 7%
$405,043
Cap Rate 9%
$315,033
Alternative Uses
Best Use
Apartment 5plus
$405.0K
$354.4K – $472.6K
NOI $28,353 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.0K
$746.4K – $995.2K
NOI $59,709 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 79903, TX
16,425
Population
6,708
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
5,475
Density / Sq Mi
$38,294
Median Household Income
$24,288
Median Earnings
$883
Median Rent
$118,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit configuration combines a main residence with remodeled rental units and access to I-10.
Where is this apartment building located?
The property is located at 2314 Wyoming Ave El Paso, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,400 SF multifamily property at 2314 Wyoming Ave, El Paso, TX; Three‑bedroom main residence plus six additional rental units; Rental units recently remodeled with updated interiors
