Two-Unit Duplex with Covered
For Sale
$367,000
3309 York Ave, McAllen, TX 78504
Two residences feature open-concept interiors, included kitchen appliances, and oversized covered patios.
Property Size2,283 SF
Lot Size0.13 Acres
Price / SF$160.75
Days on Market19
Property Features for 3309 York Ave
General Information
Standard status
Active
Size
2,283 SF
Lot size
0.13 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Texas Landmark Realty LLC
(956) 492-5638
Listed By:
Irene Uribe Manrique de Lara · License #801067752
Source:
Aregtx
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 30 at 7:16PM
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 Texas Landmark Realty LLC
Investment Insights
Based on property information with market context.
Scheduled for completion in 2026, this duplex contains 2,283 square feet of living area on a 5,600-square-foot lot. The property is arranged as two separate units, with each residence offering 3 bedrooms, 2 baths, an open-concept living and kitchen area, included kitchen appliances, and an oversized covered patio. The configuration supports both sides-by-side rental use and owner-occupant living within the same building.
The duplex is planned within a gated McAllen community near the intersection of 31st and Sprague. Its location, two-unit layout, and residential-scale floor plans provide a clear physical framework for a multifamily property, while the covered patios extend each unit’s usable outdoor area.
The duplex is planned within a gated McAllen community near the intersection of 31st and Sprague. Its location, two-unit layout, and residential-scale floor plans provide a clear physical framework for a multifamily property, while the covered patios extend each unit’s usable outdoor area.
Key Highlights
- 2026 duplex with 2,283 square feet of living area
- Two units, each with 3 bedrooms and 2 baths
- Built on a 5,600‑square‑foot lot
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
$20,629
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
5.62%
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%
$412,580
$412.6K
Cap Rate 7%
$294,700
$294.7K
Cap Rate 9%
$229,211
$229.2K
Market Conditions
NOI Build-Up for 2,283 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
$31.5K $13.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$29.5K $12.91/SF
− OpEx
−$8.8K −$3.87/SF
NOI
$20.6K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$412,580
Cap Rate 7%
$294,700
Cap Rate 9%
$229,211
Alternative Uses
Best Use
Multifamily LT 5
$294.7K
$257.9K – $343.8K
NOI $20,629 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$270.8K
$237.0K – $316.0K
NOI $18,958 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$619.9K
$542.4K – $723.3K
NOI $43,395 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
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?
Duplex - Two residences feature open-concept interiors, included kitchen appliances, and oversized covered patios.
Where is this duplex located?
The property is located at 3309 York Ave McAllen, TX.
What is the asking price?
The asking price for this property is $367,000.
What are key features of this property?
This property features: 2026 duplex with 2,283 square feet of living area; Two units, each with 3 bedrooms and 2 baths; Built on a 5,600‑square‑foot lot
