Remodeled Multi-Unit Income
For Sale
$395,000
Pending
3219 East Missouri Avenue, El Paso, TX 79903
Well-maintained, remodeled multi-unit property with extensive interior and exterior upgrades, including new roofs and refrigerated A/C.
Property Size3,400 SF
Days on Market259
Property Features for 3219 East Missouri Avenue
General Information
Standard status
Pending
Size
3,400 SF
Total Parking Spaces
6
Property subtype
Multi-Family / House Plus Unit(s)
Zoning
R5
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,613
Amenities
Yes
Laminate, Tile
Water Heater, Washer Hookup, Refrigerator, Range Hood, Gas Cooktop, Free-Standing Gas Oven, Disposal, Cooktop
.00
Flat, Shingle
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Revolve Realty, LLC
(915) 252-0976
Listed By:
Carmen Sarahi Lazar · License #0744400
Source:
Compass
Added: Dec 12, 2025
Changed: Aug 8
Last Checked: Jul 22 at 7:01PM
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 Revolve Realty, LLC
Investment Insights
Based on property information with market context.
This remodeled multi-unit income property offers thoughtfully designed living spaces with each unit divided for its own use. The property has been updated throughout with a broad scope of improvements, including kitchen renovations, an electrical box upgrade, plumbing conversions, redesigned bathrooms, new roofs, and refrigerated A/C.
The property is located at 3219 East Missouri Avenue in El Paso, Texas 79903, with convenient access to I-10 and Fort Bliss.
For investors and owner-operators seeking an income-producing residential asset, the combination of unit-ready layouts and complete remodel work supports a straightforward approach to maintaining rental functionality.
The property is located at 3219 East Missouri Avenue in El Paso, Texas 79903, with convenient access to I-10 and Fort Bliss.
For investors and owner-operators seeking an income-producing residential asset, the combination of unit-ready layouts and complete remodel work supports a straightforward approach to maintaining rental functionality.
Key Highlights
- Remodeled multi‑unit property with interior updates throughout, including kitchen renovations and upgraded/redesigned bathrooms
- Exterior upgrades include new roofs and a flat, shingle roof
- Electrical box upgrade and plumbing conversions completed as part of the remodel
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
$28,353
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
7.18%
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%
$567,060
$567.1K
Cap Rate 7%
$405,043
$405.0K
Cap Rate 9%
$315,033
$315.0K
Market Conditions
NOI Build-Up for 3,400 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
$54.3K $15.96/SF
− Vacancy
−$2.7K −$0.80/SF
EGI
$51.6K $15.16/SF
− OpEx
−$23.2K −$6.82/SF
NOI
$28.4K $8.34/SF
Area
El Paso, TX
Vacancy
5.00%
Lease Rate
$15.96 /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%
$567,060
Cap Rate 7%
$405,043
Cap Rate 9%
$315,033
Alternative Uses
Best Use
Apartment 5plus
$405.0K
$354.4K – $472.6K
NOI $28,353 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.0K
$746.4K – $995.2K
NOI $59,709 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 79903, TX
16,425
Population
6,708
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
5,475
Density / Sq Mi
$38,294
Median Household Income
$24,288
Median Earnings
$883
Median Rent
$118,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained, remodeled multi-unit property with extensive interior and exterior upgrades, including new roofs and refrigerated A/C.
Where is this multifamily property located?
The property is located at 3219 East Missouri Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Remodeled multi‑unit property with interior updates throughout, including kitchen renovations and upgraded/redesigned bathrooms; Exterior upgrades include new roofs and a flat, shingle roof; Electrical box upgrade and plumbing conversions completed as part of the remodel
