Four-Unit Multifamily
New
For Sale
$319,999
2709 N 31st Street N, McAllen, TX 78501
All residences are leased, with two-bedroom layouts and recent A/C replacements in two units.
Property Size3,348 SF
Price / SF$95.58
Days on Market7
Property Features for 2709 N 31st Street N
General Information
Standard status
Active
Size
3,348 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,834
Building Details
Building Size
3,348 SF
Year Built
1994
Buildings
1
Stories
1
Units
4
Listing Agency:
Stellar Equity Real Estate LLC
(956) 692-1177
Listed By:
Monika Regalado · License #801072451
(956) 540-0469
Source:
Justrealty
Added: Oct 26
Changed: Oct 29
Last Checked: Oct 31 at 3:06PM
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 Stellar Equity Real Estate LLC
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Investment Insights
Based on property information with market context.
This 3,348-square-foot quadplex contains four units, each configured with two bedrooms and one bathroom. All four units are currently leased. A/C systems have been replaced in two of the units, and the property was built in 1994.
The property is at 2709 N 31st Street N in McAllen, Texas. Shopping, dining, schools, and major roadways are nearby.
The property is at 2709 N 31st Street N in McAllen, Texas. Shopping, dining, schools, and major roadways are nearby.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- All four units are currently leased
- 3,348 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,802
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,040
$556.0K
Cap Rate 7%
$397,171
$397.2K
Cap Rate 9%
$308,911
$308.9K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$54.2K $16.20/SF
− Vacancy
−$3.7K −$1.10/SF
EGI
$50.5K $15.10/SF
− OpEx
−$22.7K −$6.79/SF
NOI
$27.8K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,040
Cap Rate 7%
$397,171
Cap Rate 9%
$308,911
Alternative Uses
Best Use
Multifamily LT 5
$432.2K
$378.2K – $504.2K
NOI $30,252 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$397.2K
$347.5K – $463.4K
NOI $27,802 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$909.1K
$795.5K – $1.06M
NOI $63,639 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased, with two-bedroom layouts and recent A/C replacements in two units.
Where is this quadplex located?
The property is located at 2709 N 31st Street N McAllen, TX.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; All four units are currently leased; 3,348 square feet
