Multifamily Property with
For Sale
$750,000
310 Harbor Light St, Port Isabel, TX 78578
A primary residence, three efficiency cottages, and storage occupy three city lots.
Property Size3,508 SF
Price / SF$213.80
Days on Market19
Property Features for 310 Harbor Light St
General Information
Standard status
Active
Size
3,508 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,500
Amenities
storage
Building Details
Buildings
4
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 24
Last Checked: Sep 24 at 1:56PM
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 3,508-square-foot multifamily property brings together a main residence, three separate efficiency cottages, and storage across three city lots. Built in the 1940s with concrete-block construction, the buildings have been maintained over time. A broad open area sits between the residences, offering space for a shared outdoor setting.
The property is near Port Isabel’s historic district and has views of the bay. Its combination of a principal home and independent cottage residences creates a varied residential configuration in Port Isabel.
The property is near Port Isabel’s historic district and has views of the bay. Its combination of a principal home and independent cottage residences creates a varied residential configuration in Port Isabel.
Key Highlights
- 3,508 square feet across three city lots
- Main residence plus three separate efficiency cottages
- Concrete‑block construction; built in 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 - A primary residence, three efficiency cottages, and storage occupy three city lots.
Where is this multifamily property located?
The property is located at 310 Harbor Light St 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: 3,508 square feet across three city lots; Main residence plus three separate efficiency cottages; Concrete‑block construction; built in the 1940s
