Duplex Near Everyday
For Sale
$249,000
2905 N 8th Street McAllen, McAllen, TX 78501
The rental property is within walking distance of H-E-B, restaurants, and shopping.
Property Size2,040 SF
Days on Market10
Property Features for 2905 N 8th Street McAllen
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Duplex
Additional Details
Gross Income
$19,800
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,996
Building Details
Building Size
2,040 SF
Year Built
1975
Buildings
1
Listing Agency:
Veale Properties
Listed By:
Trisha Scott
(956) 897-0070
Source:
Primeluxuryrealestate
Added: Oct 7
Changed: Oct 8
Last Checked: Oct 15 at 6:53AM
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 Veale Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1975-built duplex is a residential income property in McAllen. Nearby destinations within walking distance include H-E-B, restaurants, and shopping, along with everyday essentials.
Key Highlights
- Duplex built in 1975
- Walking distance to H‑E‑B, restaurants, shopping, and everyday essentials
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,433
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,660
$368.7K
Cap Rate 7%
$263,329
$263.3K
Cap Rate 9%
$204,811
$204.8K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$28.2K $13.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$26.3K $12.91/SF
− OpEx
−$7.9K −$3.87/SF
NOI
$18.4K $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 Rate 5%
$368,660
Cap Rate 7%
$263,329
Cap Rate 9%
$204,811
Alternative Uses
Best Use
Multifamily LT 5
$263.3K
$230.4K – $307.2K
NOI $18,433 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$242.0K
$211.8K – $282.3K
NOI $16,940 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$553.9K
$484.7K – $646.3K
NOI $38,776 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,085
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
Frequently Asked Questions
What type of property is this?
Duplex - The rental property is within walking distance of H-E-B, restaurants, and shopping.
Where is this duplex located?
The property is located at 2905 N 8th Street McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex built in 1975; Walking distance to H‑E‑B, restaurants, shopping, and everyday essentials
