Duplex with Two 3-Bedroom
For Sale
Contact for pricing
624 N Texas Avenue, Mercedes, TX 78570
Each residence includes three bedrooms, two bathrooms, and a comfortable residential layout.
Property Size2,114 SF
Price / SF$140.96
Days on Market89
Property Features for 624 N Texas Avenue
General Information
Standard status
Active
Size
2,114 SF
Total Parking Spaces
4
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2023
Buildings
1
Units
2
Listing Agency:
Trademark Real Estate Group
Listed By:
David Tobar · License #801068092
(956) 867-2340
Source:
Crexi
Added: Jun 6
Changed: Aug 31
Last Checked: Sep 2 at 1:51AM
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 Trademark Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences with a combined 2,114 square feet of living space. Each unit provides three bedrooms, two bathrooms, and 1,057 square feet, creating matching layouts across both sides of the property.
The property is located at 624 N Texas Avenue in Mercedes, with access off the Expressway. It is also near the Livestock Show Grounds and town, placing the duplex within reach of established local destinations.
The property is located at 624 N Texas Avenue in Mercedes, with access off the Expressway. It is also near the Livestock Show Grounds and town, placing the duplex within reach of established local destinations.
Key Highlights
- Two‑unit duplex built in 2023
- Each residence includes 3 bedrooms and 2 bathrooms
- Each unit measures 1057 SqFt
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
$18,487
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
6.20%
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%
$369,740
$369.7K
Cap Rate 7%
$264,100
$264.1K
Cap Rate 9%
$205,411
$205.4K
Market Conditions
NOI Build-Up for 2,114 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
$29.7K $14.04/SF
− Vacancy
−$3.3K −$1.55/SF
EGI
$26.4K $12.49/SF
− OpEx
−$7.9K −$3.75/SF
NOI
$18.5K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /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%
$369,740
Cap Rate 7%
$264,100
Cap Rate 9%
$205,411
Alternative Uses
Best Use
Multifamily LT 5
$264.1K
$231.1K – $308.1K
NOI $18,487 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.7K
NOI $17,021 @ 7.0% cap · market cap 5.71%
Theoretical Best
Hotel Hospitality
$1.59M
$1.39M – $1.86M
NOI $111,461 @ 7.0% cap · market cap 37.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 78570, TX
32,950
Population
10,701
Households
3.1
Avg Household Size
30
Median Age
12%
College-Educated
61%
High-School Grad
75.2 sq mi
ZIP Area
438
Density / Sq Mi
$39,890
Median Household Income
$22,648
Median Earnings
$686
Median Rent
$83,400
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?
Duplex - Each residence includes three bedrooms, two bathrooms, and a comfortable residential layout.
Where is this duplex located?
The property is located at 624 N Texas Avenue Mercedes, TX.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2023; Each residence includes 3 bedrooms and 2 bathrooms; Each unit measures 1057 SqFt
