Triplex with Three Rental
For Sale
$219,000
Pending
703 E Lovett St, Edinburg, TX 78541
Mixed unit layout includes two two-bedroom residences and one one-bedroom residence near UTRGV and the Edinburg Courthouse.
Property Size2,375 SF
Lot Size0.32 Acres
Days on Market111
Property Features for 703 E Lovett St
General Information
Standard status
Pending
Size
2,375 SF
Lot size
0.32 Acres
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
With some updates
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,019
Building Details
Tenancy
Multi
Listing Agency:
pinnacle realty advisors
(972) 591-3988
Listed By:
Juan Iparrea
(956) 330-9012
Source:
Exprealty
Added: May 12
Changed: Aug 29
Last Checked: Aug 29 at 3:00PM
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 pinnacle realty advisors
Investment Insights
Based on property information with market context.
This 2,375-square-foot triplex contains three residential units: two front apartments with two bedrooms and one bathroom each, plus a rear apartment configured with one bedroom and one bathroom. The property spans two lots totaling 0.32 acre, and all three units are currently leased.
Located at 703 E Lovett St in Edinburg, the property is near UTRGV and the Edinburg Courthouse. The combination of three separate units, a mixed bedroom layout, and a two-lot site creates a straightforward multifamily configuration for continued rental use.
Located at 703 E Lovett St in Edinburg, the property is near UTRGV and the Edinburg Courthouse. The combination of three separate units, a mixed bedroom layout, and a two-lot site creates a straightforward multifamily configuration for continued rental use.
Key Highlights
- 2,375‑square‑foot triplex with three residential units
- Two front units each offer 2 bedrooms and 1 bathroom
- Rear unit includes 1 bedroom and 1 bathroom
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
$19,939
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
9.10%
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%
$398,780
$398.8K
Cap Rate 7%
$284,843
$284.8K
Cap Rate 9%
$221,544
$221.5K
Market Conditions
NOI Build-Up for 2,375 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
$37.3K $15.72/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$36.3K $15.26/SF
− OpEx
−$16.3K −$6.87/SF
NOI
$19.9K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /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%
$398,780
Cap Rate 7%
$284,843
Cap Rate 9%
$221,544
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.9K
NOI $22,312 @ 7.0% cap · market cap 10.19%
Second Best
Apartment 5plus
$284.8K
$249.2K – $332.3K
NOI $19,939 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$616.3K
$539.2K – $719.0K
NOI $43,138 @ 7.0% cap · market cap 19.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
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?
Triplex - Mixed unit layout includes two two-bedroom residences and one one-bedroom residence near UTRGV and the Edinburg Courthouse.
Where is this triplex located?
The property is located at 703 E Lovett St Edinburg, TX.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 2,375‑square‑foot triplex with three residential units; Two front units each offer 2 bedrooms and 1 bathroom; Rear unit includes 1 bedroom and 1 bathroom
