Fourplex with In-Unit
For Sale
$365,000
2813 N 32nd Street McAllen, McAllen, TX 78501
Two-story fourplex with tiled interiors, tiled shower bathrooms, and each unit equipped with washer and dryer.
Property Size3,448 SF
Days on Market50
Property Features for 2813 N 32nd Street McAllen
General Information
Standard status
Active
Size
3,448 SF
Total Parking Spaces
8
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,989
Building Details
Building Size
3,448 SF
Year Built
1982
Stories
2
Tenancy
Multi
Listing Agency:
JPAR
Listed By:
Mark S. Wells · License #523858
Source:
Primeluxuryrealestate
Added: Jul 20
Changed: Aug 14
Last Checked: Sep 6 at 9:44AM
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 JPAR
Investment Insights
Based on property information with market context.
This two-story fourplex offers four roomy, apartment-style units with large living areas, extra-spacious bedrooms, and tiled floors throughout. Kitchens are described as generously sized with plenty of cabinet space, and each unit includes a refrigerator and stove, along with washer and dryer. Bathrooms feature tiled shower surrounds, and the complex includes a separate laundry room. The roof is noted to be in great shape, and the back of the property provides additional on-site space for residents to enjoy.
The property is located in McAllen, Texas on Nolana Ave, just minutes from schools, parks, and shopping. Public remarks also reference nearby retail including Target and Super Wal-Mart, along with restaurants, and the complex provides eight parking spaces.
Overall, the asset is configured as a four-unit residential income property with in-unit appliances and laundry, tiled finishes, and parking for eight vehicles.
The property is located in McAllen, Texas on Nolana Ave, just minutes from schools, parks, and shopping. Public remarks also reference nearby retail including Target and Super Wal-Mart, along with restaurants, and the complex provides eight parking spaces.
Overall, the asset is configured as a four-unit residential income property with in-unit appliances and laundry, tiled finishes, and parking for eight vehicles.
Key Highlights
- 1982‑built two‑story 4‑plex
- Each unit includes large living area, tiled floors, and extra‑spacious bedrooms
- Bathrooms feature tiled showers, and kitchens offer plenty of cabinet space
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
$31,156
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
8.54%
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%
$623,120
$623.1K
Cap Rate 7%
$445,086
$445.1K
Cap Rate 9%
$346,178
$346.2K
Market Conditions
NOI Build-Up for 3,448 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
$47.6K $13.80/SF
− Vacancy
−$3.1K −$0.89/SF
EGI
$44.5K $12.91/SF
− OpEx
−$13.4K −$3.87/SF
NOI
$31.2K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$623,120
Cap Rate 7%
$445,086
Cap Rate 9%
$346,178
Alternative Uses
Best Use
Multifamily LT 5
$445.1K
$389.5K – $519.3K
NOI $31,156 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$409.0K
$357.9K – $477.2K
NOI $28,633 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$936.3K
$819.3K – $1.09M
NOI $65,540 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
510
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-story fourplex with tiled interiors, tiled shower bathrooms, and each unit equipped with washer and dryer.
Where is this quadplex located?
The property is located at 2813 N 32nd Street McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1982‑built two‑story 4‑plex; Each unit includes large living area, tiled floors, and extra‑spacious bedrooms; Bathrooms feature tiled showers, and kitchens offer plenty of cabinet space
