Multifamily Property with Detached
For Sale
$315,000
251 South Collingsworth Street, El Paso, TX 79905
Residential income property combining a primary home with multiple separately parked rental units and R4 zoning.
Property Size2,700 SF
Price / SF$116.67
Days on Market331
Property Features for 251 South Collingsworth Street
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
10
Property subtype
Multi-Family / House Plus Unit(s)
Zoning
R4
Taxes and HOA fees
Annual Taxes
$8,015
Amenities
Yes
Washer Hookup
.00
Mixed, Shingle
Building Details
Year Built
1994
Buildings
4
Listing Agency:
ERA Sellers & Buyers Real Esta
Listed By:
Karina Ochoa · License #0622468
(915) 253-4458
Source:
Compass
Added: Oct 8, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:22PM
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 ERA Sellers & Buyers Real Esta
Investment Insights
Based on property information with market context.
This R4-zoned multifamily property includes a 2,700-square-foot main residence with four bedrooms and three bathrooms, along with three detached residential units. The largest detached unit provides one bedroom, one bathroom, and a larger kitchen and dining area; the remaining units are described as similar in layout but smaller. Each unit and the main residence has an assigned parking space. Built in 1994, the property also includes washer hookups and mixed shingle exterior materials.
The property is located at 251 South Collingsworth Street in El Paso, Texas, within the 79905 ZIP code. Its combination of a primary residence and separate units supports both residential occupancy and rental use within the stated R4 zoning designation.
The property is located at 251 South Collingsworth Street in El Paso, Texas, within the 79905 ZIP code. Its combination of a primary residence and separate units supports both residential occupancy and rental use within the stated R4 zoning designation.
Key Highlights
- 2,700‑square‑foot multifamily property in El Paso, TX 79905
- Main residence includes 4 bedrooms and 3 bathrooms
- Three detached residential units included
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
$22,516
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
7.15%
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%
$450,320
$450.3K
Cap Rate 7%
$321,657
$321.7K
Cap Rate 9%
$250,178
$250.2K
Market Conditions
NOI Build-Up for 2,700 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
$43.1K $15.96/SF
− Vacancy
−$2.2K −$0.80/SF
EGI
$40.9K $15.16/SF
− OpEx
−$18.4K −$6.82/SF
NOI
$22.5K $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%
$450,320
Cap Rate 7%
$321,657
Cap Rate 9%
$250,178
Alternative Uses
Best Use
Apartment 5plus
$321.7K
$281.5K – $375.3K
NOI $22,516 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.4K
$592.7K – $790.3K
NOI $47,416 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 79905, TX
22,483
Population
9,168
Households
2.5
Avg Household Size
39
Median Age
10%
College-Educated
58%
High-School Grad
6.6 sq mi
ZIP Area
3,407
Density / Sq Mi
$25,496
Median Household Income
$21,636
Median Earnings
$646
Median Rent
$103,900
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?
Apartment building - Residential income property combining a primary home with multiple separately parked rental units and R4 zoning.
Where is this apartment building located?
The property is located at 251 South Collingsworth Street El Paso, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,700‑square‑foot multifamily property in El Paso, TX 79905; Main residence includes 4 bedrooms and 3 bathrooms; Three detached residential units included
