Multifamily Property with
For Sale
$279,995
6645 PORTWAY DR., Brownsville, TX 78520
MULTI_FAMILY - BROWNSVILLE, TX
Property Size1,880 SF
Lot Size0.16 Acres
Price / SF$148.93
Days on Market50
Property Features for 6645 PORTWAY DR.
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Patio and Porch features
Patio
Interior features
Ceiling Fans, Firewall
Exterior features
Patio Slab
Fencing
Privacy, Chain Link
Subdivision
PORTWAY ACRES
Lot features
Curb & Gutter
Elementary school
PERKINS
Middle school
GONZALEZ
High school
RIVERA
Elementary school district
BROWNSVILLE I.S.D.
Middle school district
BROWNSVILLE I.S.D.
High school district
BROWNSVILLE I.S.D.
Standard status
Active
Size
1,880 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Flooring type
Tile
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Mary Eljure · License #0657147
(956) 801-0294
Added: Jun 20
Changed: Aug 4
Last Checked: Aug 8 at 4:06PM
MLS# 29777317
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Multifamily property currently under construction, built in 2026, with tile flooring and central heating and cooling. Interior features include ceiling fans and a firewall. The property includes patio slab outdoor space and is fenced with privacy fencing and chain link fencing.
Utilities are available via public water and public sewer. The roof is composition.
The layout includes two bedrooms and one bathroom, with a patio and a basic exterior finish set up for completion as construction progresses.
Utilities are available via public water and public sewer. The roof is composition.
The layout includes two bedrooms and one bathroom, with a patio and a basic exterior finish set up for completion as construction progresses.
Key Highlights
- Under construction multifamily property built in 2026
- Two‑bedroom, one‑bath layout
- Central heating and central air conditioning
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
$14,224
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
5.08%
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%
$284,480
$284.5K
Cap Rate 7%
$203,200
$203.2K
Cap Rate 9%
$158,044
$158.0K
Market Conditions
NOI Build-Up for 1,880 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
$27.7K $14.76/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$25.9K $13.76/SF
− OpEx
−$11.6K −$6.19/SF
NOI
$14.2K $7.57/SF
Area
Brownsville, 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%
$284,480
Cap Rate 7%
$203,200
Cap Rate 9%
$158,044
Alternative Uses
Best Use
Apartment 5plus
$203.2K
$177.8K – $237.1K
NOI $14,224 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$323.7K
$283.2K – $377.7K
NOI $22,659 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 78520, TX
64,949
Population
22,543
Households
2.9
Avg Household Size
34
Median Age
23%
College-Educated
69%
High-School Grad
39.7 sq mi
ZIP Area
1,636
Density / Sq Mi
$47,331
Median Household Income
$27,529
Median Earnings
$842
Median Rent
$129,200
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?
Multifamily property - Under construction multifamily property with central HVAC, tile flooring, and a patio slab on a public utilities lot.
Where is this multifamily property located?
The property is located at 6645 PORTWAY DR. Brownsville, TX.
What is the asking price?
The asking price for this property is $279,995.
What are key features of this property?
This property features: Under construction multifamily property built in 2026; Two‑bedroom, one‑bath layout; Central heating and central air conditioning
