Remodeled
For Sale
$375,000
357 W Levee St., Brownsville, TX 78520
Each unit provides three bedrooms and two bathrooms within a residential income property.
Property Size4,514 SF
Price / SF$83.07
Days on Market50
Property Features for 357 W Levee St.
General Information
Standard status
Active
Size
4,514 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Building Details
Year Built
1985
Listing Agency:
Texas Stars Realty Group, LLC
(956) 541-2200
Listed By:
Nicolas Rodriguez · License #0494405
Source:
Accessrealtyrgv
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 6:53PM
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 Stars Realty Group, LLC
Investment Insights
Based on property information with market context.
This 4,514-square-foot triplex in Brownsville, Texas, was built in 1985 and has undergone a recent remodel. Each of the three units includes three bedrooms and two bathrooms, creating a consistent configuration across the property.
Located at 357 W Levee St., the property is offered as a residential income asset. A fourth unit may be possible if the required zoning change is approved.
Located at 357 W Levee St., the property is offered as a residential income asset. A fourth unit may be possible if the required zoning change is approved.
Key Highlights
- Three‑unit multifamily property with three bedrooms and two bathrooms in each unit
- 4,514 square feet of total building area
- Recently remodeled improvements
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
$34,153
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
9.11%
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%
$683,060
$683.1K
Cap Rate 7%
$487,900
$487.9K
Cap Rate 9%
$379,478
$379.5K
Market Conditions
NOI Build-Up for 4,514 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
$66.6K $14.76/SF
− Vacancy
−$4.5K −$1.00/SF
EGI
$62.1K $13.76/SF
− OpEx
−$27.9K −$6.19/SF
NOI
$34.2K $7.57/SF
Area
Brownsville, 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%
$683,060
Cap Rate 7%
$487,900
Cap Rate 9%
$379,478
Alternative Uses
Best Use
Multifamily LT 5
$532.0K
$465.5K – $620.7K
NOI $37,242 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$487.9K
$426.9K – $569.2K
NOI $34,153 @ 7.0% cap · market cap 9.11%
Theoretical Best
Healthcare Medical
$777.2K
$680.1K – $906.8K
NOI $54,406 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 78520, TX
64,949
Population
22,543
Households
2.9
Avg Household Size
34
Median Age
23%
College-Educated
69%
High-School Grad
39.7 sq mi
ZIP Area
1,636
Density / Sq Mi
$47,331
Median Household Income
$27,529
Median Earnings
$842
Median Rent
$129,200
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?
Triplex - Each unit provides three bedrooms and two bathrooms within a residential income property.
Where is this triplex located?
The property is located at 357 W Levee St. Brownsville, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit multifamily property with three bedrooms and two bathrooms in each unit; 4,514 square feet of total building area; Recently remodeled improvements
