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 Market159
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: Oct 7
Last Checked: Oct 7 at 2:51PM
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
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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 / Yr
$27,287
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
