Brick Duplex With
For Sale
$185,000
Pending
700 E Fannin Avenue, Alamo, TX 78516
MULTI_FAMILY - Alamo, TX
Property Size1,320 SF
Lot Size0.33 Acres
Days on Market47
Property Features for 700 E Fannin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Patio and Porch features
Porch
Exterior features
Mature Trees
Appliances
Water Heater (Other)
Subdivision
Alamo Townsite
Lot features
Curb & Gutters, Mature Trees
Elementary school
McKeever
Middle school
Vela
High school
PSJA Memorial H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From Expressway 83, exit on Alamo Road and head north. Turn east on Fannin Avenue. Property will be located on the north side of the street at 700 E Fannin Ave, Alamo, TX 78516.
Standard status
Pending
APN
A210000081001200
Size
1,320 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4581
Utilities
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Composition
Listing Agency:
Zapphire Real Estate Group
(956) 600-7494
Listed By:
Glenda Pecina
(956) 579-2276
Added: Jun 23
Changed: Jul 30
Last Checked: Aug 8 at 10:06PM
MLS# 504248
Copyright © 2026 Greater McAllen Association of Realtors. 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.
This duplex at 700 E Fannin Avenue features brick construction and a composition roof. The property includes two well-sized units and is served by public water. Interior cooling is provided via wall unit(s), and the home includes a water heater (other). A porch adds outdoor living space, and mature trees are present on the property.
The duplex sits on two lots being sold together, totaling 0.3271 acres. Built in 1975, the property offers a long-term residential income setup for buyers seeking a two-unit arrangement in Alamo, TX. A recently completed survey is noted as being on file.
On-site parking is listed as none, so tenants and guests would rely on street or nearby parking arrangements. The configuration and site amenities—porch, yard space, and established trees—support everyday residential livability alongside its two-unit income use.
The duplex sits on two lots being sold together, totaling 0.3271 acres. Built in 1975, the property offers a long-term residential income setup for buyers seeking a two-unit arrangement in Alamo, TX. A recently completed survey is noted as being on file.
On-site parking is listed as none, so tenants and guests would rely on street or nearby parking arrangements. The configuration and site amenities—porch, yard space, and established trees—support everyday residential livability alongside its two-unit income use.
Key Highlights
- Two lots sold together totaling 0.3271 acres
- Brick duplex built in 1975 with composition roof
- Two well‑sized units
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
$11,543
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
6.24%
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%
$230,860
$230.9K
Cap Rate 7%
$164,900
$164.9K
Cap Rate 9%
$128,256
$128.3K
Market Conditions
NOI Build-Up for 1,320 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
$18.5K $14.04/SF
− Vacancy
−$2.0K −$1.55/SF
EGI
$16.5K $12.49/SF
− OpEx
−$4.9K −$3.75/SF
NOI
$11.5K $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%
$230,860
Cap Rate 7%
$164,900
Cap Rate 9%
$128,256
Alternative Uses
Best Use
Multifamily LT 5
$164.9K
$144.3K – $192.4K
NOI $11,543 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$151.8K
$132.9K – $177.1K
NOI $10,628 @ 7.0% cap · market cap 5.74%
Theoretical Best
Hotel Hospitality
$994.2K
$870.0K – $1.16M
NOI $69,597 @ 7.0% cap · market cap 37.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 78516, TX
34,506
Population
12,469
Households
2.8
Avg Household Size
32
Median Age
12%
College-Educated
59%
High-School Grad
37.8 sq mi
ZIP Area
913
Density / Sq Mi
$51,547
Median Household Income
$26,908
Median Earnings
$743
Median Rent
$102,900
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 - Brick duplex on public water featuring two units, porch, composition roof, and mature trees on a 0.3271-acre lot.
Where is this duplex located?
The property is located at 700 E Fannin Avenue Alamo, TX.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two lots sold together totaling 0.3271 acres; Brick duplex built in 1975 with composition roof; Two well‑sized units
