Renovated Triplex With Three
For Sale
$239,000
2664 E 32nd St., Brownsville, TX 78521
Three-unit residential income property with updated interiors, systems, kitchens, fixtures, and air-conditioning equipment.
Property Size1,600 SF
Price / SF$149.38
Days on Market49
Property Features for 2664 E 32nd St.
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Building Details
Year Built
1969
Buildings
1
Listing Agency:
RE/MAX Sun Valley Realtors
(956) 592-2679
Listed By:
Joe De La Fuente · License #479104
Source:
Accessrealtyrgv
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 31 at 7:11PM
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 RE/MAX Sun Valley Realtors
Investment Insights
Based on property information with market context.
This triplex contains two two-bedroom, one-bathroom units and a third unit with three bedrooms and one bathroom. The property provides 1,600 square feet and was built in 1969, with extensive updates completed throughout the building.
Improvements include floor leveling, laminate flooring, interior paint, kitchen cabinets and sinks, plumbing, electrical wiring, A/C units, ceiling fans, doors, fixtures, and toilets. The property is located near Brownsville/Veterans Briged, schools, supermarkets, convenience stores, UTRGV, and downtown. Its three-unit configuration and broad renovation scope define the asset as a residential income property.
Improvements include floor leveling, laminate flooring, interior paint, kitchen cabinets and sinks, plumbing, electrical wiring, A/C units, ceiling fans, doors, fixtures, and toilets. The property is located near Brownsville/Veterans Briged, schools, supermarkets, convenience stores, UTRGV, and downtown. Its three-unit configuration and broad renovation scope define the asset as a residential income property.
Key Highlights
- Three‑unit triplex with two 2‑bedroom units and one 3‑bedroom unit
- 1,600 square feet built in 1969
- Updated plumbing, electrical wiring, A/C units, flooring, and kitchens
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
$13,200
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
5.52%
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%
$264,000
$264.0K
Cap Rate 7%
$188,571
$188.6K
Cap Rate 9%
$146,667
$146.7K
Market Conditions
NOI Build-Up for 1,600 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
$20.2K $12.60/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$18.9K $11.79/SF
− OpEx
−$5.7K −$3.54/SF
NOI
$13.2K $8.25/SF
Area
Brownsville, TX
Vacancy
6.46%
Lease Rate
$12.60 /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%
$264,000
Cap Rate 7%
$188,571
Cap Rate 9%
$146,667
Alternative Uses
Best Use
Multifamily LT 5
$188.6K
$165.0K – $220.0K
NOI $13,200 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$172.9K
$151.3K – $201.8K
NOI $12,106 @ 7.0% cap · market cap 5.07%
Theoretical Best
Healthcare Medical
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 78521, TX
88,708
Population
29,576
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
62%
High-School Grad
93.7 sq mi
ZIP Area
947
Density / Sq Mi
$41,276
Median Household Income
$24,781
Median Earnings
$864
Median Rent
$90,500
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?
Triplex - Three-unit residential income property with updated interiors, systems, kitchens, fixtures, and air-conditioning equipment.
Where is this triplex located?
The property is located at 2664 E 32nd St. Brownsville, 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: Three‑unit triplex with two 2‑bedroom units and one 3‑bedroom unit; 1,600 square feet built in 1969; Updated plumbing, electrical wiring, A/C units, flooring, and kitchens
