Single-Level
For Sale
$334,000
3906 1/2 Tularosa Avenue, El Paso, TX 79903
2,572-square-foot multifamily property with ceramic tile and laminate flooring, two air-conditioned units, and one evaporative-cooled unit.
Property Size2,572 SF
Price / SF$129.86
Days on Market228
Property Features for 3906 1/2 Tularosa Avenue
General Information
Standard status
Active
Size
2,572 SF
Property subtype
Multi-Family / Triplex
Zoning
R5
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,404
Amenities
Yes
Ceramic Tile, Laminate, See Remarks
Free-Standing Gas Oven
.00
Flat, Rolled/Hot Mop
Building Details
Year Built
1940
Buildings
1
Stories
1
Listing Agency:
Haggerty Company
(915) 433-0454
Listed By:
Inge McClintock · License #0618259
Source:
Compass
Added: Jan 15
Changed: Aug 30
Last Checked: Aug 31 at 1:53AM
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 Haggerty Company
Investment Insights
Based on property information with market context.
Built in 1940, this single-level triplex contains 2,572 square feet and is configured as three residential units. Interior finishes include ceramic tile and laminate flooring, with no carpet noted. Two units have air conditioning, while the third uses evaporative cooling. A free-standing gas oven is included, and the property has a backyard.
The property is zoned R5 and sits near I-10 and I-54, with Fort Bliss and Downtown El Paso also nearby. Its three-unit layout accommodates separate residential occupancy within one multifamily asset, including the possibility of occupying one unit while leasing the others.
The property is zoned R5 and sits near I-10 and I-54, with Fort Bliss and Downtown El Paso also nearby. Its three-unit layout accommodates separate residential occupancy within one multifamily asset, including the possibility of occupying one unit while leasing the others.
Key Highlights
- Three‑unit, single‑level property with 2,572 square feet
- R5 zoning and 1940 construction
- Two units equipped with AC; third unit has evaporative cooling
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
$23,254
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
6.96%
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%
$465,080
$465.1K
Cap Rate 7%
$332,200
$332.2K
Cap Rate 9%
$258,378
$258.4K
Market Conditions
NOI Build-Up for 2,572 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
$34.9K $13.56/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$33.2K $12.92/SF
− OpEx
−$10.0K −$3.87/SF
NOI
$23.3K $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%
$465,080
Cap Rate 7%
$332,200
Cap Rate 9%
$258,378
Alternative Uses
Best Use
Multifamily LT 5
$332.2K
$290.7K – $387.6K
NOI $23,254 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$306.4K
$268.1K – $357.5K
NOI $21,448 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$645.3K
$564.6K – $752.8K
NOI $45,168 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
958
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?
Triplex - 2,572-square-foot multifamily property with ceramic tile and laminate flooring, two air-conditioned units, and one evaporative-cooled unit.
Where is this triplex located?
The property is located at 3906 1/2 Tularosa Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $334,000.
What are key features of this property?
This property features: Three‑unit, single‑level property with 2,572 square feet; R5 zoning and 1940 construction; Two units equipped with AC; third unit has evaporative cooling
