78-Unit Apartment
New
For Sale
$7,500,000
3801 E MORELAND DR, Weslaco, TX 78596
Residential Income, WESLACO, TX
Property Size77,325 SF
Lot Size6.55 Acres
Price / SF$96.99
Days on Market1
Property Features for 3801 E MORELAND DR
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Patio and Porch features
Patio
Interior features
Smoke Alarm(s)
Exterior features
Patio
Appliances
Range, Refrigerator
Subdivision
RED BIRD NO. 2
Lot features
Landscaped, Sidewalks, Sprinklers In Front
Elementary school
MARGO
Middle school
CUELLAR
High school
WESLACO-EAST
Elementary school district
WESLACO I.S.D.
Middle school district
WESLACO I.S.D.
High school district
WESLACO I.S.D.
Standard status
Active
Size
77,325 SF
Lot size
6.55 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Number of units
78
Flooring type
Tile
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
MARCUS PHIPPS · License #450735
(956) 793-2355
Added: Sep 11
Last Checked: Sep 11 at 6:06PM
MLS# 29779479
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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 78-unit apartment property in Weslaco spans four phases and includes a mix of one- and two-bedroom residences. One-bedroom units are generally 875 square feet, with one 775-square-foot unit, while the two-bedroom units are 1,000 square feet. The property also includes a 1,800-square-foot three-bedroom, two-bath unit with a two-car garage. Interior features include tile flooring, central electric heating and cooling, ranges, refrigerators, and smoke alarms. Patios serve as an exterior amenity.
Built in 2005, the property occupies 6.5471 acres and contains 77,325 square feet. Public water and public sewer serve the site. The location at 3801 E Moreland Dr in Weslaco is near the expressway, dining, and entertainment options. Occupancy was 98.4% in 2025.
Built in 2005, the property occupies 6.5471 acres and contains 77,325 square feet. Public water and public sewer serve the site. The location at 3801 E Moreland Dr in Weslaco is near the expressway, dining, and entertainment options. Occupancy was 98.4% in 2025.
Key Highlights
- 78‑unit apartment property arranged across four phases
- 98.4% occupancy in 2025
- 6.5471‑acre site with 77,325 square feet
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
$622,580
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
8.30%
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%
$12,451,600
$12.5M
Cap Rate 7%
$8,894,000
$8.9M
Cap Rate 9%
$6,917,556
$6.9M
Market Conditions
NOI Build-Up for 77,325 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
$1.28M $16.56/SF
− Vacancy
−$148.5K −$1.92/SF
EGI
$1.13M $14.64/SF
− OpEx
−$509.4K −$6.59/SF
NOI
$622.6K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /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%
$12,451,600
Cap Rate 7%
$8,894,000
Cap Rate 9%
$6,917,556
Alternative Uses
Best Use
Apartment 5plus
$8.89M
$7.78M – $10.38M
NOI $622,580 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$58.24M
$50.96M – $67.95M
NOI $4,076,961 @ 7.0% cap · market cap 54.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
78
Residential units
98.4%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Four-phase apartment property with patios, tile flooring, and public water and sewer.
Where is this apartment building located?
The property is located at 3801 E MORELAND DR Weslaco, TX.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 78‑unit apartment property arranged across four phases; 98.4% occupancy in 2025; 6.5471‑acre site with 77,325 square feet
