Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    408 E Obregon Dilley, TX 78017

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $215,000

    Cash-flowing multifamily property with multiple units and potential.

    Type:Multi Family
    Property size:
    2,704 SF
    Lot size:
    0.34 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    8
    Last Refresh:
    Mar 26 at 1:32 am

    Property Features for 408 E Obregon

    General Information

    Standard status
    Active
    Size
    2,704 SF
    Lot size
    0.34 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    Steven Rico

    Listing agent Steven Rico License #599299

    Listing office RE/MAX Alamo Realty

    Listing date Mar 24, 2026

    Source Exitrealty

    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 RE/MAX Alamo Realty

    Overview

    Multifamily Investment Opportunity in Dilley

    This multifamily property presents a cash-flowing investment opportunity. The main house includes two units: a two-bedroom, one-bath unit and a one-bedroom, one-bath efficiency apartment. The main house requires some improvements. Building two features two units, each with two bedrooms and one bath. Building three contains two one-bedroom, one-bath units. Buildings two and three are reported to be in good condition. An additional building with a bathroom is currently used for storage but could be converted into an additional efficiency apartment. The property spans 2704 square feet and is located in Dilley, Texas. This property is suitable for an investor or owner-manager.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dilley
    County
    Frio
    State
    Texas
    Longitude
    -99.159271
    Latitude
    28.673005

    Nearby Similar for Sale

    • $300,000

      Car Wash Business For Sale

      Car wash business with tunnel, inbay, and self-serve bays.
      17255 S Interstate Highway 35, Dilley, TX 78017
      View Details
    • $925,000

      Dilley Warehouse with Fenced Yard

      Office/warehouse on 5 acres with frontage and highway access.
      570 County Road 4614, Dilley, TX, 78017
      View Details
    • Contact for pricing
      16,000 SF

      Eagle Ford Shale Industrial Facility

      16,000 SF truck service facility on 14.71 acres.
      12071 W. HWY 85, Dilley, TX 78017
      View Details
    • Contact for pricing
      33,780 SF

      Dilley Commercial Property on I-35

      Commercial property with showroom, service center, and additional land.
      16919 IH 35, Dilley, TX 78017
      View Details
    • $3,450,000
      49,000 SF

      Industrial/Warehouse Distribution Yard For Sale

      Industrial/warehouse distribution yard with three buildings on 10.10 acres.
      15000 S Interstate Hwy 35, Dilley, TX 78017
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Cash-flowing multifamily property with multiple units and potential.
    Where is this multifamily property located?
    The property is located at 408 E Obregon Dilley, TX.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Multifamily property with six existing units provides immediate cash flow potential.; **Opportunity to increase cash flow by converting storage building into a seventh efficiency apartment.**; Buildings two and three are in good condition, minimizing immediate renovation costs.
    (210) 682-9898
    We can help!
    Listing Contact
    Steven Rico
    Real Estate License ID: 599299
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!