Harlingen Multifamily Investment
For Sale
$1,150,000
630 W Taft Avenue, Harlingen, TX 78550
18-unit apartment community in central Harlingen, Texas.
Property Size11,924 SF
Lot Size0.41 Acres
Price / SF$96.44
Days on Market133
Property Features for 630 W Taft Avenue
General Information
Standard status
Active
Size
11,924 SF
Total Parking Spaces
25
Lot size
0.41 Acres
Property subtype
Multifamily
Building Details
Building Size
11,924 SF
Year Built
1983
Stories
2
Units
18
Listing Agency:
Coldwell Banker Commercial Rio Grande Valley
(956) 451-2983
Listed By:
Daniel Galvan · License #561680
(956) 451-2983
Source:
Cbcworldwide
Added: Apr 2
Changed: Aug 8
Last Checked: Apr 3 at 12:18PM
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 Coldwell Banker Commercial Rio Grande Valley
Investment Insights
Based on property information with market context.
This two-story, garden-style apartment community, constructed in 1983, is located in central Harlingen, Texas. The property comprises 18 units, totaling approximately 11,924 square feet and situated on approximately 0.41 acres. The unit layouts primarily feature two-bedroom configurations, with a selection of three-bedroom units also available. The central location provides convenient access to schools, neighborhood retail options, and major thoroughfares throughout the Rio Grande Valley, catering to workforce housing demand.
Key Highlights
- 18‑unit apartment community in central Harlingen, Texas.
- Features primarily two‑bedroom units with select three‑bedroom layouts.
- Convenient access to schools, neighborhood retail, and major thoroughfares.
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
$90,217
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
7.84%
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%
$1,804,340
$1.8M
Cap Rate 7%
$1,288,814
$1.3M
Cap Rate 9%
$1,002,411
$1.0M
Market Conditions
NOI Build-Up for 11,924 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
$176.0K $14.76/SF
− Vacancy
−$12.0K −$1.00/SF
EGI
$164.0K $13.76/SF
− OpEx
−$73.8K −$6.19/SF
NOI
$90.2K $7.57/SF
Area
Cameron County, TX
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$1,804,340
Cap Rate 7%
$1,288,814
Cap Rate 9%
$1,002,411
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,217 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.05M
$1.80M – $2.40M
NOI $143,718 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit apartment community in central Harlingen, Texas.
Where is this apartment building located?
The property is located at 630 W Taft Avenue Harlingen, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 18‑unit apartment community in central Harlingen, Texas.; Features primarily two‑bedroom units with select three‑bedroom layouts.; Convenient access to schools, neighborhood retail, and major thoroughfares.
