Residential Income
For Sale
$330,000
2817 N 31st St, McAllen, TX 78501
For sale residential income multifamily property in McAllen with 6,572 square feet and highly accessible neighborhood setting.
Property Size3,286 SF
Price / SF$100.43
Days on Market114
Property Features for 2817 N 31st St
General Information
Standard status
Active
Size
3,286 SF
Property subtype
Multi-Family
Building Details
Year Built
1994
Listing Agency:
TNT Real Estate
Listed By:
Joseph Tyson
(956) 322-3020
Source:
Aregtx
Added: May 17
Changed: Sep 5
Last Checked: Sep 6 at 12:31PM
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 TNT Real Estate
Investment Insights
Based on property information with market context.
Residential income multifamily property for sale at 2817 N 31st Street in McAllen, Texas. The offering totals 6,572 square feet and presents a versatile setup suited to a range of ownership strategies, including generating rental income or pursuing renovation plans.
According to the remarks, the property is located in a highly accessible McAllen neighborhood with proximity to local dining, retail hubs, and schools. This combination of convenience and surrounding demand is positioned as a key attribute for buyers evaluating long-term value.
If you’re looking for an income-oriented multifamily option, this property provides an identifiable footprint in a well-connected area of McAllen. For more details on the existing configuration and financials, request the listing package.
According to the remarks, the property is located in a highly accessible McAllen neighborhood with proximity to local dining, retail hubs, and schools. This combination of convenience and surrounding demand is positioned as a key attribute for buyers evaluating long-term value.
If you’re looking for an income-oriented multifamily option, this property provides an identifiable footprint in a well-connected area of McAllen. For more details on the existing configuration and financials, request the listing package.
Key Highlights
- Residential income multifamily property for sale in McAllen
- 6,572 square feet
- Built in 1994
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
$27,287
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
8.27%
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%
$545,740
$545.7K
Cap Rate 7%
$389,814
$389.8K
Cap Rate 9%
$303,189
$303.2K
Market Conditions
NOI Build-Up for 3,286 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
$53.2K $16.20/SF
− Vacancy
−$3.6K −$1.10/SF
EGI
$49.6K $15.10/SF
− OpEx
−$22.3K −$6.79/SF
NOI
$27.3K $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%
$545,740
Cap Rate 7%
$389,814
Cap Rate 9%
$303,189
Alternative Uses
Best Use
Apartment 5plus
$389.8K
$341.1K – $454.8K
NOI $27,287 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$892.3K
$780.8K – $1.04M
NOI $62,460 @ 7.0% cap · market cap 18.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Multifamily property - For sale residential income multifamily property in McAllen with 6,572 square feet and highly accessible neighborhood setting.
Where is this multifamily property located?
The property is located at 2817 N 31st St McAllen, TX.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Residential income multifamily property for sale in McAllen; 6,572 square feet; Built in 1994
