Six-Unit Apartment Building with 1-Bed
For Sale
$450,000
2800 N 30th Street McAllen, McAllen, TX 78501
Six 1-bedroom units in two 3-plex buildings, built in 1983, with appliances included.
Property Size4,200 SF
Days on Market16
Property Features for 2800 N 30th Street McAllen
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multi Family
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,598
Building Details
Building Size
4,200 SF
Year Built
1983
Buildings
2
Listing Agency:
Aurora International Real Estate
(956) 221-0204
Listed By:
Aurora Trevino · License #0713148
Source:
Primeluxuryrealestate
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 11 at 12:30PM
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 Aurora International Real Estate
Investment Insights
Based on property information with market context.
This six-unit apartment building features two three-plex buildings. All units are one bedroom and one bathroom, and are approximately 700 square feet each. The units include appliances, supporting an investor-ready setup for day-to-day operations. Each unit comes with one parking spot.
The property is located at 2800 N 30th Street in McAllen, Texas, and is described as centrally located near schools, businesses, and major commercial corridors.
Built in 1983, the arrangement of two 3-plex buildings provides a straightforward multifamily configuration for maintaining and leasing a consistent unit mix across the property.
The property is located at 2800 N 30th Street in McAllen, Texas, and is described as centrally located near schools, businesses, and major commercial corridors.
Built in 1983, the arrangement of two 3-plex buildings provides a straightforward multifamily configuration for maintaining and leasing a consistent unit mix across the property.
Key Highlights
- Two 3‑plex buildings totaling six units
- All units are 1 bed / 1 bath and approx. 700 SF
- Appliances 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
$34,877
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
7.75%
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%
$697,540
$697.5K
Cap Rate 7%
$498,243
$498.2K
Cap Rate 9%
$387,522
$387.5K
Market Conditions
NOI Build-Up for 4,200 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
$68.0K $16.20/SF
− Vacancy
−$4.6K −$1.10/SF
EGI
$63.4K $15.10/SF
− OpEx
−$28.5K −$6.79/SF
NOI
$34.9K $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 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%
$697,540
Cap Rate 7%
$498,243
Cap Rate 9%
$387,522
Alternative Uses
Best Use
Apartment 5plus
$498.2K
$436.0K – $581.3K
NOI $34,877 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
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
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 - Six 1-bedroom units in two 3-plex buildings, built in 1983, with appliances included.
Where is this apartment building located?
The property is located at 2800 N 30th Street McAllen McAllen, 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: Two 3‑plex buildings totaling six units; All units are 1 bed / 1 bath and approx. 700 SF; Appliances included
