Multifamily Property with Efficiency
For Sale
$750,000
310 Harbor Light, Port Isabel, TX 78578
Includes a main residence, three efficiency cottages, and storage across three individual city lots.
Property Size3,508 SF
Price / SF$213.80
Days on Market10
Property Features for 310 Harbor Light
General Information
Standard status
Active
Size
3,508 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,500
Building Details
Construction
concrete-block
Listing Agency:
Pinkerton Realty
(956) 761-2649
Listed By:
Robert N. Pinkerton · License #0678792
(956) 572-0521
Source:
Exprealty
Added: Sep 7
Changed: Sep 13
Last Checked: Sep 15 at 12:18PM
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 Pinkerton Realty
Investment Insights
Based on property information with market context.
This multifamily property includes a primary residence, three separate efficiency cottages, and storage improvements arranged across three individual city lots. The buildings feature concrete-block construction dating to the 1940s, with the property maintained over time and retaining its established character.
Located near Port Isabel's Historic district, the property offers bay views and a central area positioned between the residences. The address is 310 Harbor Light, Port Isabel, TX 78578.
Located near Port Isabel's Historic district, the property offers bay views and a central area positioned between the residences. The address is 310 Harbor Light, Port Isabel, TX 78578.
Key Highlights
- Main residence plus three separate efficiency cottages
- Improvements span three individual city lots
- Concrete‑block construction dating to the 1940s
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
$26,541
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
3.54%
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%
$530,820
$530.8K
Cap Rate 7%
$379,157
$379.2K
Cap Rate 9%
$294,900
$294.9K
Market Conditions
NOI Build-Up for 3,508 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
$51.8K $14.76/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$48.3K $13.76/SF
− OpEx
−$21.7K −$6.19/SF
NOI
$26.5K $7.57/SF
Area
Cameron County, TX
Vacancy
6.80%
Lease Rate
$14.76 /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%
$530,820
Cap Rate 7%
$379,157
Cap Rate 9%
$294,900
Alternative Uses
Best Use
Apartment 5plus
$379.2K
$331.8K – $442.4K
NOI $26,541 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$604.0K
$528.5K – $704.7K
NOI $42,281 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 78578, TX
10,076
Population
6,391
Households
1.6
Avg Household Size
45
Median Age
24%
College-Educated
83%
High-School Grad
57.0 sq mi
ZIP Area
177
Density / Sq Mi
$52,041
Median Household Income
$36,896
Median Earnings
$763
Median Rent
$193,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Includes a main residence, three efficiency cottages, and storage across three individual city lots.
Where is this multifamily property located?
The property is located at 310 Harbor Light Port Isabel, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Main residence plus three separate efficiency cottages; Improvements span three individual city lots; Concrete‑block construction dating to the 1940s
