Triplex with Development
For Sale
$400,000
317 N Carolina Drive, El Paso, TX 79915
Residential Income, El Paso, TX
Property Size2,461 SF
Lot Size1.00 Acre
Price / SF$162.54
Days on Market50
Property Features for 317 N Carolina Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
AO
Appliances
Range Hood, Free-Standing Gas Oven
Subdivision
Ysleta
Elementary school
Ramona
Middle school
Riverside
High school
Riverside
Elementary school district
Ysleta
Middle school district
Ysleta
High school district
Ysleta
Standard status
Active
APN
T06599900100100
Size
2,461 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
BLK 1 TAVAREZ LOT 1
Tax Annual Amount
9238
Legal Description
BLK 1 TAVAREZ LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Multi Units
Building Details
Year built
1968
Number of units
3
Building materials
Stucco
Roof type
Flat
Additional Structures
Storage
Listing Agency:
ERA Sellers & Buyers Real Esta · ERA Real Estate
(915) 585-2222
Listed By:
Alberto Lugo · License #0583648
(915) 269-1550
Added: Jul 21
Changed: Aug 25
Last Checked: Sep 8 at 7:06AM
MLS# 948018
Copyright © 2026 Greater El Paso Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex property includes 2,461 square feet of improvements on a 1-acre site. Built in 1968, the structure features stucco construction, a flat roof, natural gas heating, window and multi-unit cooling, public sewer service, and a range hood with a freestanding gas oven. Architectural renderings and blueprints are included with the property.
The site is located near I-10, Loop 375, and the Ysleta Casino. Its existing multifamily configuration and substantial land area provide a combination of current improvements and documented development planning materials.
The site is located near I-10, Loop 375, and the Ysleta Casino. Its existing multifamily configuration and substantial land area provide a combination of current improvements and documented development planning materials.
Key Highlights
- Triplex property with 2,461 square feet of improvements
- 1‑acre development site
- Architectural renderings and blueprints included
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
$22,250
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
5.56%
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%
$445,000
$445.0K
Cap Rate 7%
$317,857
$317.9K
Cap Rate 9%
$247,222
$247.2K
Market Conditions
NOI Build-Up for 2,461 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
$33.4K $13.56/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$31.8K $12.92/SF
− OpEx
−$9.5K −$3.87/SF
NOI
$22.3K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$445,000
Cap Rate 7%
$317,857
Cap Rate 9%
$247,222
Alternative Uses
Best Use
Multifamily LT 5
$317.9K
$278.1K – $370.8K
NOI $22,250 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$293.2K
$256.5K – $342.1K
NOI $20,523 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$617.4K
$540.2K – $720.3K
NOI $43,219 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 79915, TX
35,234
Population
14,139
Households
2.5
Avg Household Size
41
Median Age
13%
College-Educated
68%
High-School Grad
8.9 sq mi
ZIP Area
3,959
Density / Sq Mi
$35,938
Median Household Income
$25,400
Median Earnings
$808
Median Rent
$117,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Existing multifamily property with architectural renderings and blueprints for additional development planning.
Where is this triplex located?
The property is located at 317 N Carolina Drive El Paso, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Triplex property with 2,461 square feet of improvements; 1‑acre development site; Architectural renderings and blueprints included
