Four-Unit Apartment
New
For Sale
$425,000
6509 N 8th St, McAllen, TX 78504
All residences are leased and include indoor laundry areas, tile flooring, and open dining space.
Property Size4,480 SF
Price / SF$94.87
Days on Market5
Property Features for 6509 N 8th St
General Information
Standard status
Active
Size
4,480 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
indoor laundry
Building Details
Year Built
2000
Tenancy
Multi
Listing Agency:
Imperio Real Estate LLC
Listed By:
Jorge Valdez
(956) 803-0341
Source:
Aregtx
Added: Sep 28
Last Checked: Oct 1 at 3:43PM
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 Imperio Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 2000, this four-unit residential property contains 4,480 square feet. Each apartment has two bedrooms, two bathrooms, an indoor laundry area, tile flooring, and an open dining area. Kitchens include cabinet storage, while the bedrooms are described as spacious.
The property is on the north side of McAllen, near DHR Health Hospital, HEB, Walmart, Sam’s Club, shopping centers, restaurants, and major thoroughfares. All four apartments are currently leased.
The property is on the north side of McAllen, near DHR Health Hospital, HEB, Walmart, Sam’s Club, shopping centers, restaurants, and major thoroughfares. All four apartments are currently leased.
Key Highlights
- Four apartments, each with 2 bedrooms and 2 bathrooms
- 4,480 square feet; built in 2000
- All four units currently leased
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
$37,202
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
8.75%
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%
$744,040
$744.0K
Cap Rate 7%
$531,457
$531.5K
Cap Rate 9%
$413,356
$413.4K
Market Conditions
NOI Build-Up for 4,480 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
$72.6K $16.20/SF
− Vacancy
−$4.9K −$1.10/SF
EGI
$67.6K $15.10/SF
− OpEx
−$30.4K −$6.79/SF
NOI
$37.2K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /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%
$744,040
Cap Rate 7%
$531,457
Cap Rate 9%
$413,356
Alternative Uses
Best Use
Multifamily LT 5
$578.3K
$506.0K – $674.7K
NOI $40,481 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$531.5K
$465.0K – $620.0K
NOI $37,202 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,156 @ 7.0% cap · market cap 20.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - All residences are leased and include indoor laundry areas, tile flooring, and open dining space.
Where is this quadplex located?
The property is located at 6509 N 8th St McAllen, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 2 bathrooms; 4,480 square feet; built in 2000; All four units currently leased
