8-Unit Apartment
307 N Moorefield Road, Palmview, TX 78573
For Sale
New
$690,000
Two four-unit buildings provide individually metered apartments, with additional site area available for future construction.
Property Size7,200 SF
Lot Size1.00 Acre
Price / SF$95.83
Days on Market7
Property Features for 307 N Moorefield Road
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Building Details
Year Built
Buildings
Listing Agency:
SANETI REALTY GROUP
Listed By:
Alberto Sanchez
(956) 215-1125
Source:
Sanetirealty
Added: Oct 31
Changed: Nov 6
Last Checked: Nov 6 at 2:24PM
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 SANETI REALTY GROUP
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 apartment property comprises two four-unit buildings and eight apartments in total. The buildings date to 1997 and 2000, and the property contains 7,200 square feet. Each apartment is approximately 940 square feet, with two bedrooms and one bathroom, and is individually metered.
The site encompasses 1 acre, with additional space identified for potential construction of more units.
The site encompasses 1 acre, with additional space identified for potential construction of more units.
Key Highlights
- Eight apartments across two four‑unit buildings
- 7,200 square feet total; each apartment is approximately 940 square feet
- All apartments have two bedrooms and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,971
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,420
$1.2M
Cap Rate 7%
$828,157
$828.2K
Cap Rate 9%
$644,122
$644.1K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$119.2K $16.56/SF
− Vacancy
−$13.8K −$1.92/SF
EGI
$105.4K $14.64/SF
− OpEx
−$47.4K −$6.59/SF
NOI
$58.0K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,420
Cap Rate 7%
$828,157
Cap Rate 9%
$644,122
Alternative Uses
Best Use
Apartment 5plus
$828.2K
$724.6K – $966.2K
NOI $57,971 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.42M
$4.75M – $6.33M
NOI $379,620 @ 7.0% cap · market cap 55.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Hidalgo County, TX
Properties on Market for Apartment buildings in Hidalgo County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two four-unit buildings provide individually metered apartments, with additional site area available for future construction.
Where is this apartment building located?
The property is located at 307 N Moorefield Road Palmview, TX.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Eight apartments across two four‑unit buildings; 7,200 square feet total; each apartment is approximately 940 square feet; All apartments have two bedrooms and one bathroom
