Multifamily Property with
602 N 11th Street, McAllen, TX 78501
For Sale
New
$539,000
The property combines a main residence with three leased apartments, each offering a private entrance and parking.
Property Size3,964 SF
Price / SF$135.97
Days on Market4
Property Features for 602 N 11th Street
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Built-in Features
Ceiling Fan(s)
Fireplace
Walk-In Closet(s)
Mature Trees
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
URSA Real Estate
(956) 476-3016
Listed By:
Zacarias (Zack) Andres Guerra
(956) 330-3892
Source:
Dolcevitargv
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 5:17PM
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 URSA Real Estate
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Investment Insights
Based on property information with market context.
The 3,964-square-foot property includes a main residence and three leased apartments, each configured with one bedroom and one bathroom. The residence has an open-concept layout, two living areas, original hardwood floors, gas appliances, and built-in features. Mature oak trees shade the grounds.
The property is steps from N 10th Street in McAllen. Each apartment has its own entrance and parking.
The property is steps from N 10th Street in McAllen. Each apartment has its own entrance and parking.
Key Highlights
- Three leased apartments, each with one bedroom and one bathroom
- 3,964‑square‑foot property with a main residence and three apartments
- Each apartment has a private entrance and parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,819
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,380
$716.4K
Cap Rate 7%
$511,700
$511.7K
Cap Rate 9%
$397,989
$398.0K
Market Conditions
NOI Build-Up for 3,964 SF
Gross rent
$54.7K $13.80/SF
− Vacancy
−$3.5K −$0.89/SF
EGI
$51.2K $12.91/SF
− OpEx
−$15.4K −$3.87/SF
NOI
$35.8K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,380
Cap Rate 7%
$511,700
Cap Rate 9%
$397,989
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.7K – $597.0K
NOI $35,819 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$470.3K
$411.5K – $548.6K
NOI $32,918 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.08M
$941.9K – $1.26M
NOI $75,348 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in McAllen, TX
Properties on Market for Multifamily properties in McAllen
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property combines a main residence with three leased apartments, each offering a private entrance and parking.
Where is this multifamily property located?
The property is located at 602 N 11th Street McAllen, TX.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Three leased apartments, each with one bedroom and one bathroom; 3,964‑square‑foot property with a main residence and three apartments; Each apartment has a private entrance and parking
