Recently Remodeled
For Sale
$290,000
4019 Polk Avenue, El Paso, TX 79930
Recently remodeled triplex with a new roof, double-pane windows, and tenants paying all utilities.
Property Size1,800 SF
Price / SF$161.11
Days on Market184
Property Features for 4019 Polk Avenue
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family / Triplex
Zoning
C4
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,413
Amenities
Yes
Ceramic Tile, Laminate
Gas Cooktop
.00
Flat
Building Details
Year Built
1951
Listing Agency:
New Beginnings Realty-1964
(915) 241-6500
Listed By:
Jack David Nagel · License #0805242
Source:
Compass
Added: Feb 14
Changed: Aug 8
Last Checked: Jul 21 at 4:22AM
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 New Beginnings Realty-1964
Investment Insights
Based on property information with market context.
This recently remodeled triplex includes a new roof, evaporative coolers, security doors, double-pane windows, and front doors that are less than two years old. Two of the units have also been recently remodeled.
The property is a residential income asset with tenant-paid utilities, which can simplify ongoing operating costs for an owner.
With three rental units and multiple recent exterior and mechanical updates, the building is positioned for an owner seeking a turn-key residential income property that has benefited from upgrades within the past couple of years.
The property is a residential income asset with tenant-paid utilities, which can simplify ongoing operating costs for an owner.
With three rental units and multiple recent exterior and mechanical updates, the building is positioned for an owner seeking a turn-key residential income property that has benefited from upgrades within the past couple of years.
Key Highlights
- Recently remodeled triplex (year built 1951)
- New roof plus front doors replaced less than 2 years ago
- Double‑pane windows and security doors
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
$16,274
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
5.61%
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%
$325,480
$325.5K
Cap Rate 7%
$232,486
$232.5K
Cap Rate 9%
$180,822
$180.8K
Market Conditions
NOI Build-Up for 1,800 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
$24.4K $13.56/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$23.2K $12.92/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $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%
$325,480
Cap Rate 7%
$232,486
Cap Rate 9%
$180,822
Alternative Uses
Best Use
Multifamily LT 5
$232.5K
$203.4K – $271.2K
NOI $16,274 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$451.6K
$395.1K – $526.8K
NOI $31,610 @ 7.0% cap · market cap 10.90%
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
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 79930, TX
24,553
Population
11,729
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
75%
High-School Grad
7.5 sq mi
ZIP Area
3,274
Density / Sq Mi
$41,826
Median Household Income
$24,903
Median Earnings
$909
Median Rent
$124,000
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 - Recently remodeled triplex with a new roof, double-pane windows, and tenants paying all utilities.
Where is this triplex located?
The property is located at 4019 Polk Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Recently remodeled triplex (year built 1951); New roof plus front doors replaced less than 2 years ago; Double‑pane windows and security doors
